With the news that Guy Hands has moved to Guernsey, heading a queue of tax exiles some prospective tax exiles are starting to consider Sotogrande and Gibraltar as a much more luxurious and desirable option. Guy Hands is the latest wealthy businessman to quit Britain to escape the new 50% tax rate for high earners. Hands, whose Terra Firma private equity group shelled out nearly £3bn for EMI at the height of the credit boom in 2007, has moved to Guernsey in the past fortnight. He is one of the wealthiest people in Britain with a fortune estimated at £200m and there are now plenty of other wealthy UK Citizens considering doing likewise in light of Gordon Brown’s Governments last budget with the axis of Sotogrande property and Gibraltar becoming a real option due to lifestyle and location.
Spanish Hot Properties the Spanish property experts have come up with a unique but simple scheme for buying a category 2 apartment in Gibraltar and a luxurious Sotogrande villa and enjoy some of the best lifestyle on the planet but only two and a half hours flying time from the UK.
Spanish Hot Properties set out to win clients from Britain following Alistair Darling’s budget last week. In a statement circulated to the British press that declared that within an hour of the budget announcement of 50% tax, Britain’s high tax earners seek out Gibraltar, “where taxes are going down not up”. The statement said; “With its M&S, BHS, English pubs and a major new development Atlantic Suites, Gibraltar is the UK in the sun. “In the past few months, it has been busier than ever, with people looking for office space and homes. Since the UK budget last Wednesday, it appears a mass UK exodus is on the cards. due to the headline 50% tax and a myriad of stealth taxes there, we have just not been able to keep up with enquiries in the last few days with the wonderful Sotogrande only twenty minutes from Gibraltar interest in Luxurious Sotogrande Villas has also increased considerably with clients looking to purchase Apartments for tax reasons and Villas for personal luxury choices.
“The European Court of Justice granted Gibraltar self determination on company tax in December allowing the Government to target around 10% or less company tax, being the lowest or equal lowest in the European Union. Add to the fact that income tax for the wealthy is around £20,000 a year, on all global income, there is no capital gains tax, no VAT, no inheritance tax, no wealth tax, no exchange control costs, you can see why Gibraltar with a stable Government and fantastic weather is an obvious choice to escape Britain.” Not quite as pretty as Monaco but strong UK links.
“You have a fast, efficient system that has no surprises as law here in Gibraltar is pretty much the same as the UK. The only difference is that you don’t get hammered by tax and you live surrounded by palm trees & flowers, enjoying earning and spending sterling in the glistening sunshine.”
With the Union Jack-flying, self-governing territory of 28,000 people saw eight per cent economic growth last year, as it has continually in recent years - compared with the UK facing a drop of 35%.
“Gibraltar is forecast to see about seven per cent growth this year, buoyed by its thriving online gaming and finance industries. We constantly have increased interest from gaming companies looking to expand or set up in Gibraltar. The shock decision to increase the tax on poker profits from 15 per cent to 50 percent will see companies such as Gala, William Hill, Ladbrokes, Party gaming and Betfred orientating more of their expansion towards Gibraltar and use of the internet, with others quickly following rushing plans to open there sooner than they planned. “
Sotogrande is a golf, polo, and beach resort that have everything you could possibly want from a residential development, including 5 golf courses, a golf academy, polo grounds, a substantial marina, a riding centre, an international school, beach clubs, tennis clubs, a sailing club, luxury hotels, spas, gyms, restaurants, shops, and much more. It is fair to say that there are few residential communities in the world with comparable on-site facilities making it an ideal location for prospective tax exiles.
Anyone wishing to find more about Sotogrande and Gibraltar property should either call us or email Spanish Hot Properties.
HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana
CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/sotogrande.php
