View on Gibraltar’s Bay
GENERAL INFORMATION
Known as Gib or the Rock, this small country has a great strategic importance because of its location at the bottom on the narrow gap between Europe and Africa.
From this spot a navy can potentially control shipping in and out of the Mediterrean, and for this reason the UK, as a key member of NATO has there its naval and military base.
Although being a British territory it has a separate legal jurisdiction from the UK and also a different tax system.
Gibraltar, because of its special position presents a highly attractive location to base a business.
Gibraltar provides an extensive selection of products and services that meet the requirements of both local and international investors. As a modern, vibrant, low tax jurisdiction, it likewise has first rate professional infrastructure that is fully compliant with European standards of regulation. The numerous international trading entities and financial services companies, which already have a base in Gibraltar, are testament to this. Gibraltar’s main economic growth attributers include general trade, the provision of financial services and communications (including e-gaming), tourism and maritime activities;
- The Finance Centre – Banks, trusts, insurance and reinsurance companies, high quality ancillary services such as accountancy and legal practices as well as communications and information technology providers have all made Gibraltar the first class international business hub that it is today.
- Tourism – Every year millions of visitors come to Gibraltar by air, land and sea.
- E-Gaming & Maritime Services – There are two key factors of the economy that have brought prosperity to Gibraltar. Vessel bunkering, for instance, remains a longstanding and prominent sector.
BUSINESS OPPORTUNITIES IN GIBRALTAR
It seems that recent turbulences and withdrawal from the European Union didn’t bring great changes. Perhaps, as Gibraltar Government announced, it’s constitution need to be revised. However it is possible that Gibraltar would became a new entry point for EU firms wanting to access a cut-off British market . Gibraltar offers different business opportunities;
FINTECH SECTOR
In pursuing business in the fledgling fintech sector, Gibraltar is focusing on quality operators and strong regulation
By January 2018, Gibraltar aims to have legislation in place to regulate businesses using distributed ledger technology, a kind of technology which is seen as transformational and with a great potential for wider application in the financial services industry. It will ensure a clear focus on customer protection and risk management, alongside compliance with rules on security, counter-terrorism and anti-money laundering.
E-BUSINESS
The Government of Gibraltar has been developing strategies to create an ideal, dynamic setting for businesses to trade electronically. This online business undertaking will be supported by a faster and more reliable framework of communications, infrastructure and legislation in view of assisting the growth of electronic trade.
SCHOOL REVOLUTION
The Gibraltar Government has outlined plans to improve schools in Gibraltar by either rebuilding or refurbishing all of them by the start of term in 2019.
The plans will consider students of every age, from the very early stages of nursery to A-level students at Gibraltar’s comprehensive schools and college.
EU PROGRAMMES
The two main Programmes Gibraltar benefits from 2014-2020 Programming Period are both from the investment for Growth & Jobs Goal ;
ERDF – European Regional Development Fund whose aim it is to enhance the competitiveness of small and medium-sized enterprises (SMEs) & to support a shift towards a low-carbon economy.
ESF – European Social Fund which will focus on promoting sustainable & quality employment & supporting labour mobility together with investing in education, training & vocational training for skills and lifelong learning.