Gibraltar: an international business centre that offers global opportunities


Just before Christmas, the Gibraltar Parliament passed complex legislation to embed into Gibraltar law the long-term framework allowing financial services companies on the Rock to continue accessing the UK market.

Those arrangements are known as the Gibraltar Access Regime (GAR) and are already embedded in UK primary legislation. The legislation is critically important given the UK provides the mainstay of business for companies operating from Gibraltar.

It is the latest step in a process that commenced after the Brexit referendum in 2016 and involved a legislative reform programme in close collaboration and consultation with the Gibraltar Financial Services Commission and industry, leading to the Financial Services Act 2019.

The Bill debated by the Gibraltar Parliament inserted comprehensive provisions mirroring the UK GAR legislation into Gibraltar’s Financial Services Act 2019. It also aligns law and regulatory practice in Gibraltar with the UK in those areas where further harmonisation is needed.

It is vital for Gibraltar to remain aligned with the UK both during this transition phase towards the GAR, and beyond its implementation, so we are delighted that the process is on track. Gibraltar is now the only jurisdiction in the world that enjoys ‘passporting rights’ into the UK and this is an invaluable part of our global proposition.

For EU entities that have lost their right to passport into the UK, a new Gibraltar subsidiary can also enable them to continue to access the UK market from a more tax efficient platform.

Gibraltar serves as a natural bridge for trade and commerce between continents. Its proximity to Morocco presents exciting opportunities for businesses looking to expand into North Africa, while its unique connections to the UK and the EU offer access to well-established markets.

As the world continues to evolve, Gibraltar remains committed to innovation and growth. In 2018, Gibraltar became the first country in the world to provide a purpose-built regulatory framework for businesses using blockchain or distributed ledger technology (DLT). This forward-thinking approach continues to attract technology companies and entrepreneurs seeking a supportive regulatory environment.

Gibraltar is also leading the charge in crypto fund regulation and is fast becoming the go-to for digital asset funds. According to the PwC Crypto Hedge Fund Report 2024, Gibraltar is now the second most popular jurisdiction worldwide for digital asset hedge funds to domicile their funds, behind only the Cayman Islands and above the US.

So whether you’re a start-up looking to establish a foothold or a multinational corporation seeking a reliable base for operations, Gibraltar offers the perfect combination of opportunity, connectivity, stability and efficiency.

Gabriel Gonzalez

Director, Sovereign Marine Services & Business Development Director, Sovereign Trust (Gibraltar) Ltd

Gibraltar’s Competitive Advantages: Why it’s a Top Business Destination


Gibraltar’s Competitive Advantages: Why it’s a Top Business Destination


Gibraltar is a self-governing and self-financing British overseas territory located at the southern tip of Europe, which has long been recognised as a leading jurisdiction for businesses seeking stability, efficiency and global connectivity. Its unique combination of strategic location, favourable tax environment and robust legal framework make it an attractive destination for entrepreneurs, multinational corporations and financial service providers alike.

During the recent Sovereign Trust Gibraltar update, key insights were shared about the jurisdiction’s remarkable advantages and why it serves as a highly competitive hub for international business and a standout choice for companies worldwide.

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5 QUESTIONS WITH...


Jade Hazelton-Drake, Broker, Cert II, Sovereign Insurance Services Limited

Sovereign Insurance Services were very pleased to welcome Jade to their Gibraltar office in 2023 as a Broker. Jade has over 5 years of experience in the Insurance industry and her Chartered Insurance Institute Certificate. Jade specialises in Corporate Liabilities Insurance. She has had previous experience as an underwriter for motor insurance, where she played a key role in drafting policy wordings. Her diverse background, from underwriting to brokering, equips her with a holistic view of the insurance process, enabling her to offer valuable insights to both clients and colleagues. Jade is also working towards achieving her Diploma in Insurance (DipCII), which she plans to complete by the end of 2025, further enhancing her professional credentials and expertise in the field.

 


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