Gibraltar is a small peninsula attached to the South of Spain at the top of the entrance to the Mediterranean. It remains British despite ongoing sovereignty claims from Spain. Gibraltar is a tax haven offering 0% tax companies (the situation is in effect that all companies pay 10% unless they have no real presence in Gibraltar, as is the case for the vast majority). Gibraltar enjoys a special relationship in being a member of the EU based on its connection with the UK but with a very beneficial tax regime and does not have VAT. Apart from companies Gibraltar is a world-leader in the establishment of funds, trusts (including registered asset protection trusts) and is home to much of the world's online gaming business as well as being an established maritime centre. Given the nature of relations between Spain and Gibraltar we strongly recommend against Spanish residents or persons having property in Spain using Gibraltar for tax planning.