Cost of Relocation
If you have been contacted by a consultant at Castle Hill, then your skills and experience are usually relevant
enough for the client to pay for your relocation. In most cases, this includes flights and 1-3 month’s
accommodation. Depending on the company and position, the company may cover accommodation
for your partner and children (if applicable), and sometimes a small allowance toward the cost of
shipping your belongings, or longer stays for accommodation. Some companies offer an allowance of up to £2000 instead of providing temporary accommodation.
After your accommodation runs out, you will need to pay 1-2 months deposit on a rental property and 1 month’s rent in advance.
Finding work for your Partner
Employment in Gibraltar is fairly specialist, with most people working in the main industries such as iGaming, Crypto, financial services, Accounting, insurance or law. However, there are the same industries that you would find in any town or tourist hub such as hospitality, retail, healthcare, construction etc. Because Gibraltar is small and a popular choice for relocator’s, it is not as easy to find work as it would in a big city in the UK or Europe. However, it is much easier to find employment if you are already living locally.
Our consultants at Castle Hill would recommend that you speak to us about your partner’s career options, and we will advise you of the job prospects. If your partner’s career options are not within the iGaming & Crypto industries, we still have local market knowledge of all industries and can advise and refer you on to another specialist local agency or direct employer(s).
Many couples or families make sure they have enough savings to survive on one salary for a few months, whilst the partner is looking for local opportunities. There may also be full-time employment opportunities in Spain, but the current job market is competitive and lower paid than Gibraltar, and
fluent Spanish is usually required for most professional careers. There are also many people who find casual work in Spain, or set up a small business.
Schools & Nurseries
For those relocating with families, there are a number of excellent options regarding schools and childcare. The standard of education in Gibraltar is high, and schools are English speaking and follow the same syllabus as in the UK. Class sizes are generally smaller, and schools are known for having friendly, supportive environments. Education is free for families living in Gibraltar, and families are required to be resident in Gibraltar to use the schooling system. For those living in Spain nurseries are very good value and much less expensive than the UK.
Children go to school from the age of 3 in Spain and the public schooling system is free. The younger the child entering the schooling the system, the easier it is generally to learn Spanish. Also many parents decide that its necessary to develop their Spanish skills to a higher level so that they are able to communicate with Spanish teachers and other parents. For older children it will be more difficult to integrate into a Spanish school so it would be recommended to join an international school in Sotogrande or Estepona (school fees will apply) or live in Gibraltar.
The vast majority of relocator’s will join the “Gross Income
Based” tax system. There is also the “Allowance based” system which is more applicable to those living in Gibraltar who own property and have children as they will pay a higher rate but receive certain deductions.
The tax rates for the gross based system are as follows:
- On salaries up to £25,000 tax remains below 20% with a sliding rate of between £2,000 –£8,000 tax free allowance dependent on income
- On salaries between £25,000 – £35,000 the maximum tax rate is 20%
- On salaries between £35,000 – £100,000 the maximum tax rate is 26%
- On salaries between £100,000 – £353,000 maximum tax rate is 29%, and a sliding scale going down to 5% on any earnings above this amount
- You also pay Social Insurance (similar to National Insurance) of £109 per month regardless of whether you live in Spain or Gibraltar.
For more information regarding income tax and Social Insurance in Gibraltar, please visit the Gibraltar Government website:
Download pdf here.