How to send money to Gibraltar in 2026: pounds from the UK without exchange, euros and dollars in 1-3 business days
Gibraltar receives pounds from the UK without exchange, has protected deposits up to $160,000 (£120,000) since 1 January 2026 and charges no tax on gifts or inheritance. Here is how the account and deposit guarantee work, what Category 2 residents pay and how a flat is paid through a lawyer.
Money is sent to Gibraltar in pounds to a local bank account with a 23-character number: the Gibraltar pound is equal to the pound sterling, so a transfer from the United Kingdom arrives without exchange, and from other countries in pounds, euros or dollars in 1-3 business days. Since 1 January 2026 deposits at a Gibraltar bank are protected up to £120,000 ($160,000) per person. There are no taxes on gifts, inheritance or capital gains here, and a wealthy newcomer pays no more than £42,380 ($57,000) in income tax a year.
- Checked on 8 October 2026.
- a transfer in pounds from the United Kingdom - no currency exchange, to a pound account;
- an international transfer from other countries - 1-3 business days, in pounds, euros or dollars to a currency account;
- paying for a home - through the buyer's lawyer by the exchange of contracts date;
- money for family - by transfer to their account, with no gift tax.
Dollars are calculated at the Bank of England rate of 7 October 2026, 1.3220 per pound, rounded up.
The Gibraltar pound and the 23-character account number
The Government of Gibraltar issues its own banknotes, but the Gibraltar pound is always equal to the pound sterling, and both circulate on the territory on equal terms. Banks keep accounts in pounds, and for those who live next door in Spain or earn income in Europe they also open euro accounts. A Gibraltar account number has 23 characters: the territory code, two check digits, a four-letter bank code and fifteen characters of the account itself.
There are few banks in Gibraltar, and each gets to know the client in detail: it asks for a passport, proof of address, a description of your work and statements showing where the money comes from. The sooner these documents are ready, the faster the first transfer arrives. We will suggest the best way to send money to Gibraltar: we will choose a route for your amount, prepare documents for the bank and take the transfer through licensed partners until it is credited.
Deposit protection in Gibraltar: £120,000 from 2026
Legal Notice No. 3 of 8 January 2026 raised the limit of the Gibraltar deposit guarantee scheme from €100,000, about £85,000 ($120,000), to £120,000 ($160,000) per depositor at one bank. The new limit applies from 1 January 2026, and the scheme pays out within seven business days.
All deposits at one bank are added together: a £90,000 savings account and a £40,000 current account are protected together up to £120,000. On a joint account the limit is counted for each owner separately, so a married couple is protected up to £240,000 ($320,000). For an amount above the limit it helps to know the purchase or investment date in advance, so the money does not sit in the account longer than needed.
Category 2: tax in Gibraltar of no more than £42,380 a year
A wealthy newcomer can obtain Category 2 status. With it, income tax is charged only on the first £118,000 ($160,000) of income: the yearly tax is no more than £42,380 ($57,000) and no less than £37,000 ($49,000), however much the person earns worldwide. The conditions are personal wealth from £2 million ($2.7 million) and a home in Gibraltar for your family only, bought or rented.
On 18 June 2026 the government announced new conditions for new applicants: wealth from £5 million ($6.7 million) and an application fee of £5,000 ($6,700) instead of £1,233 ($1,700). For those who already hold the status, the conditions stay the same. Highly paid specialists have a separate status, covered in the article specialist status in Gibraltar.
For the status, wealth is confirmed with documents, and the home is found before applying. Our manager will check which statements and contracts the bank will accept for moving your wealth to Gibraltar.
A flat in Gibraltar: stamp duty from zero
A home buyer in Gibraltar pays stamp duty. On a price up to £200,000 ($270,000) it is zero, and first-time and second-time buyers pay none up to £300,000 ($400,000). Above that the duty is charged on parts of the price: for a £500,000 ($670,000) flat on the general scale it is 3% on the first £350,000 and 3.5% on the rest - £15,750 ($21,000).
The deal follows the English model: the buyer's lawyer checks the seller's title and receives the deposit from the buyer for the exchange of contracts and the balance for completion. So the money is sent to the lawyer's account, not to the seller, and a few days before the date, so the bank has time to check the source of funds. How to choose a property is on the page property in Gibraltar.
Gifts, inheritance and investment gains: no taxes
Gibraltar has no inheritance tax, no gift tax and no capital gains tax. Money from parents arrives in the account tax-free and without a separate return, for any amount. A flat passed to children is not taxed either, and selling securities at a profit creates no capital gains tax. There is no value added tax on the territory either.
The bank will still ask where a large gift came from, so the transfer is accompanied by a deed of gift and the giver's statement. Trust ownership of family money is covered in detail in the article trust and foundation in Gibraltar.
We will help you send money to Gibraltar
Mistakes cost more than fees: Category 2 wealth shown with the wrong statements, money for a flat sent to the seller instead of the lawyer, a large gift without a deed of gift, and an amount far above the deposit guarantee sitting in one account for months. We will help you avoid them: we will choose the route and currency of the transfer, collect source of funds documents for the Gibraltar bank and time the payment for a home exactly to the exchange of contracts.
Details and cost are with our manager in the chat: a lot depends on the amount, currency and purpose of the transfer.
Transfers to Gibraltar by amount: what the bank will ask
A Gibraltar bank asks for different things depending on the amount, in 2026:
| Amount | What the Gibraltar bank will ask | Document on the money |
|---|---|---|
| up to $10,000 | payment purpose and link to the recipient | a lease, a tuition invoice or a letter from the recipient |
| $10,000-100,000 | source of the money and a 6-month statement | income certificate, sale or gift agreement |
| from $100,000 | the history of your wealth over several years and the purpose of the transfer | a source of funds package and a purchase agreement or status application |
An amount from $100,000 is prepared as a move of capital: the order of steps is on the capital relocation page, and how to collect documents is in the article proof of source of funds. Find out the terms for a large transfer from our manager: they will work out the timing for the date of your deal or status application.
Onward from Gibraltar: Spain across the border, the UK and Malta
Many people who work in Gibraltar live in neighbouring Andalusia and send their salary to Spain every month: from a euro account it is an ordinary transfer, and from a pound account the bank exchanges the currency at its own rate. Pounds go to the United Kingdom without exchange, and money is sent to Malta in euros.
Sending money to neighbouring countries
- How to send money to Spain
- How to send money to the UK
- How to send money to Portugal
- How to send money to Malta
- How to send money to Ireland
- How to send money to Morocco
All countries and moving capital step by step are in the capital relocation section.
FAQ
Is the Gibraltar pound equal to the pound sterling?
How much money at a Gibraltar bank is protected by the deposit guarantee?
How much tax a year does a Category 2 resident pay in Gibraltar?
What wealth is needed for Category 2 in Gibraltar?
Is an inheritance or a gift from parents taxed in Gibraltar?
Is stamp duty paid on a flat in Gibraltar under £200,000?
We will suggest the best way to send your money
We will choose a transfer method for your amount and country, prepare the documents on the origin of the money for the bank, make the transfer through licensed partners and follow it until the money is credited. Ask your question in the chat - the manager will suggest the best terms and the cost. The legal side with banks and government bodies is handled by Murblz specialists and locally licensed partners.
Details and cost are with the manager in the chat. Describe your situation and we will reply right away.
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