Gibraltar, a British Overseas Territory, is increasing the level of wealth required for certain individuals to qualify for tax residency or related benefits, according to reporting from Daily Mail. The threshold is being raised to £5 million for wealthy expats. The move is framed in the context of Gibraltar’s reputation for attracting high net worth individuals, largely because of its tax regime. Sources note that Gibraltar has no inheritance tax and no capital gains tax, features that have contributed to its appeal for people seeking tax-efficient arrangements. The reporting also highlights Gibraltar’s low personal tax environment as a key factor in why it is viewed as an attractive location for affluent residents. The articles do not provide additional detail on how the new threshold will be applied, who will be directly affected in practice, or when the change takes effect. Overall, the coverage focuses on the increased eligibility requirement tied to wealth levels and reiterates the territory’s tax characteristics described as beneficial for wealthy individuals.