The 60-second version
Gibraltar bank exit needs zero balance certificate, GBP SWIFT to NRE, and closure letter — pair with Gibraltar tax residency guide for PAYE clearance.
Gaming payroll may sit in Gibraltar account — settle employer before bank closure
Gibraltar International Bank and SG Hambros serve finance and gaming payroll — request closure after final salary credit.
GBP wires to NRE need purpose code at Indian AD bank.
Tax lane: Gibraltar tax guide for Income Tax Office clearance.
Gibraltar bank wind-down
| Bank | Currency | Step |
|---|---|---|
| GIB | GBP/EUR | Written notice |
| SG Hambros | GBP | Zero balance |
| Credit institutions | Multi-CCY | Closure letter |
| NRE | INR/GBP | SWIFT receipt |
Closure
Final payroll
Wait for last credit.
Notice
Written closure request.
GBP wire
SWIFT to NRE.
Closure letter
Zero balance cert.
Schedule FA
Last FY foreign account.
Flow
Gibraltar bank kit
- Account stmt.
- Closure letter.
- SWIFT.
- Passport.
- ITO clearance.
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Gaming bonus
Large bonus month may need split wires — check Indian LRS and TCS thresholds.
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FBAR?
US person — FinCEN 114 if aggregate > USD 10K.
Spain neighbour?
Spain tax guide if you also held Spanish account.
Schedule FA?
Declare in last FY you held foreign account.
UK link?
Gibraltar is not UK for tax — separate guides.
Brokerage?
Close securities account before bank if linked custody.
TCS?
Inbound remittance may attract TCS — verify AD bank.
Your NRE account redesignation has a deadline.
Banks don't remind you. You need the right account stack before salary, rent, and EMIs start moving. Get the exact sequence.