Stamp duty is payable on the transfer or sale of any Gibraltar real estate or shares in a company owning Gibraltar real estate (on an amount based on the market value of the real estate).
The Gibraltar Stamp Duties Act 2005 (as amended) relates only to transactions involving real estate property situate in Gibraltar. The rates of duty applicable are as follows:
Where the purchaser qualifies as a first- or second-time homebuyer and the property consists entirely of residential property:
(i) Nil % on the first £260,000 of the value of the property;
(ii) 5.5% on any balance above £260,000 to £350,000
(iii) 3.5% on the balance above £350,000
In all other instances:
(i) Nil % where the value of the property does not exceed £200,000;
(ii) 2% on the first £250,000 and 5.5% on the balance, where the value of the property exceeds £200,000 but does not exceed £350,000; and
(iii) 3% on the first £350,000 and 3.5% on the balance where the value of the property exceeds £350,000.
Additionally, if the property is purchased with the assistance of a mortgage, stamp duty is charged at the rate of 0.13% where the amount borrowed does not exceed £200,000 and 0.20% for amounts in excess of £200,000.