Gibraltar property conveyancing follows English common law, not Spanish law. From accepted offer to keys typically takes 6 to 12 weeks. First and second-time buyers pay 0% stamp duty on the first £300,000 (in force since December 2024), there is no capital gains tax, and you need a Gibraltar-qualified solicitor to handle the transfer.
Quick Summary
- Gibraltar property transfers follow an English-style conveyancing process, not Spanish law
- The process takes 6 to 12 weeks from offer accepted to completion
- Legal fees run £1,500 to £3,000 depending on property value and complexity
- First and second-time buyers pay 0% stamp duty on the first £300,000 (in force since December 2024)
- You need a Gibraltar-qualified solicitor to handle the transaction
Gibraltar vs UK Conveyancing
If you have bought property in England or Wales, Gibraltar's process will feel familiar. It is based on English common law, uses similar documentation, and follows the same exchange-then-complete structure. The key differences are scale (fewer lawyers, fewer properties, faster communication) and some Gibraltar-specific rules worth knowing before you commit.
If you are coming from a Spanish property purchase, set aside everything you know. There is no notary requirement, no escritura, no catastral reference. Gibraltar does it the English way.
Step by Step: How It Works
1. Offer and Acceptance
You make an offer on a property, usually through an estate agent. Once the seller accepts, the agent sends a memorandum of sale to both parties' lawyers. Nothing is legally binding at this stage. Either side can still walk away.
Key difference from the UK: Gibraltar's market is small enough that gazumping (a seller accepting a higher offer after already accepting yours) is rare. Reputation matters when everyone knows everyone.
2. Instruct a Lawyer
You need a Gibraltar-qualified solicitor. Around 15 to 20 local firms handle property work. The main ones include Hassans International Law Firm (hassans.gi), ISOLAS LLP (isolas.gi), Triay Lawyers (triay.com), TSN Law (triaystagnetto.com), and Attias & Levy (attiaslevy.gi). Your lawyer handles everything from here: searches, contracts, and completion.
| Legal Cost | Typical Amount |
|---|---|
| Lawyer's fees (purchase) | £1,500 to £3,000 |
| Property searches | £200 to £400 |
| Land registration fee | £50 to £150 |
| Bank transfer fees (if applicable) | £25 to £50 |
3. Searches and Due Diligence
Your lawyer conducts several searches:
- Title search: Confirms the seller owns the property and has the right to sell it. Checks for charges, liens, or restrictions on the title.
- Land Property Services (LPS) search: Verifies the property is registered and boundaries are correct. LPS is the Government of Gibraltar body that administers the Land Registry function.
- Planning search: Checks for any planning permissions, restrictions, or nearby developments that could affect the property.
- Rates search: Confirms the annual Gibraltar Rates status (roughly £200 to £600 per year for a residential unit) and whether any arrears exist.
Gibraltar is small enough that searches come back quickly, often within 1 to 2 weeks. UK local authority searches can take months. In Gibraltar, they take days.
4. Mortgage (If Applicable)
If you need a mortgage, apply early. Banks lending on Gibraltar property include NatWest International, Trusted Novus Bank (formerly Jyske Bank Gibraltar), and Gibraltar International Bank. Typical terms run up to 75% loan-to-value with repayment periods of 20 to 25 years. Interest rates vary by lender and borrower profile, so confirm current rates directly with each bank.
Your mortgage offer will have conditions (survey, buildings insurance) that must be satisfied before completion. Your lawyer coordinates with the bank's lawyers throughout.
5. Draft Contract
The seller's lawyer drafts the contract of sale. Your lawyer reviews it, raises enquiries about fixtures, boundaries, service charges, and similar matters, and negotiates any amendments. This back-and-forth typically takes 2 to 4 weeks.
The contract covers: purchase price, completion date, what is included in the sale, any special conditions, and the deposit amount.
6. Exchange of Contracts
Once both lawyers are satisfied, contracts are exchanged and the deal becomes legally binding. You pay the deposit, typically 10% of the purchase price. If you pull out after exchange without a contractual right to do so, you lose that deposit.
In Gibraltar, exchange and completion sometimes happen on the same day for straightforward transactions. This is more common than in the UK because the smaller market means fewer chains.
7. Completion
On completion day, the balance of the purchase price transfers from your lawyer to the seller's lawyer. In return, you receive the keys and the title deeds. Your lawyer registers the transfer with Land Property Services (LPS), which administers Gibraltar's Land Registry.
Stamp Duty in Gibraltar
Gibraltar's stamp duty rules were updated by the Stamp Duties Amendment Act 2024, which came into force on 23 December 2024. The rates below reflect that legislation.
First and Second-Time Buyers
| Band | Rate |
|---|---|
| First £300,000 | 0% |
| £300,001 to £350,000 | 5.5% |
| Above £350,000 | 3.5% on the balance |
On a £400,000 purchase (first or second-time buyer), the calculation is: £0 on the first £300,000 + £2,750 on the next £50,000 at 5.5% + £1,750 on the remaining £50,000 at 3.5% = £4,500 total (as of December 2024). A non-first-time buyer purchasing at £350,000 in England pays £7,500 in stamp duty land tax on the same price.
Non-Qualifying Purchasers
If you do not qualify as a first or second-time buyer under Gibraltar's rules, different rates apply. Your solicitor will confirm which category applies to your transaction.
| Property Value | How It Is Calculated |
|---|---|
| Up to £200,000 | 0% |
| £200,001 to £350,000 | 2% on first £250,000 + 5.5% on the balance |
| £350,001 to £800,000 | 3% on first £350,000 + 3.5% on the balance |
| Above £800,000 | 3% on first £350,000 + 3.5% on next £450,000 + 4.5% on the balance |
Other Tax Advantages
Gibraltar has no capital gains tax, no inheritance tax, and no VAT. Annual Gibraltar Rates (a modest local property levy) do apply, running roughly £200 to £600 per year for a residential unit. Your lawyer will include a rates check as standard due diligence.
Total Cost of Buying
Here is a realistic breakdown for a £350,000 purchase by a first or second-time buyer:
| Item | Cost |
|---|---|
| Lawyer's fees | £2,000 |
| Searches and registration | £400 |
| Stamp duty (first / second-time buyer) | £2,750 |
| Survey (if arranged) | £500 to £1,000 |
| Total additional costs | £5,650 to £6,150 |
That comes to roughly 1.6 to 1.8% of the purchase price. Spain's buying costs typically run 10 to 13% of the purchase price (per industry estimates). In England, stamp duty alone on a £350,000 non-first-time-buyer purchase is £7,500. Gibraltar remains among the least expensive places in Europe to transact property.
This guide is for information purposes only and does not constitute legal advice. Always consult a qualified Gibraltar solicitor for advice specific to your transaction.
Frequently Asked Questions
Do I need a Gibraltar lawyer or can I use a UK one?
You need a Gibraltar-qualified solicitor. UK solicitors are not authorised to handle Gibraltar property transactions. Most Gibraltar law firms have partners who trained in England and Wales, so the standard is high and the process is familiar.
Can I do the conveyancing remotely?
Yes. Many buyers complete the entire process without visiting Gibraltar until completion day. Your lawyer handles everything via email and secure document exchange. A power of attorney can be arranged if you cannot attend completion in person.
How long does the whole process take?
Typically 6 to 12 weeks from instructing your lawyer to getting the keys. Simple transactions with no chain and no mortgage can complete in 4 to 6 weeks. Complex ones involving chains or leasehold complications can take longer.
What is the difference between freehold and leasehold in Gibraltar?
Same as in England. Freehold means you own the property and the land outright. Leasehold means you own the property for a fixed term (usually 99 to 150 years) with ground rent payable to the freeholder. Most apartments in Gibraltar are leasehold. Most houses and some newer developments are freehold. Always check the lease length before buying: anything under 80 years can create mortgage and resale complications.