Gibraltar's History
Situated at the southernmost point of the Iberian Peninsula, Gibraltar is a UK overseas territory and has proved to be a fortress of British strength in modern times. Historically, the Rock of Gibraltar was known, along with the Rif Mountains in Morocco, as the Pillars of Hercules, from the Greek legend about the creation of the Straits of Gibraltar. The name Gibraltar derives from the Arabic, Jabal Tariq (“mountain of Tariq”), after the Moorish General who conquered the rock in 711 AD.
In 1713 the Treaty of Utrecht determined that the territory was to become part of Britain ‘in perpetuity’. Gibraltar is an independent jurisdiction, though some powers, such as defence and foreign relations, remain the responsibility of the United Kingdom. Gibraltarians enjoy full British Citizenship.
Economic & Financial Stability
Gibraltar has numerous positive attributes as a financial centre, amongst them, a common law legal system and a highly competent and efficient regulatory system. Its currency is the Gibraltar pound, issued by the Government of Gibraltar and is legal tender alongside Bank of England banknotes. Gibraltar offers a competitive tax system for individuals and companies to operate in and continues to be positively reviewed by such organisations as the IMF and OECD.
The jurisdiction boasts a flourishing economy with its core industries of Legal & Financial Services, Shipping, Online Gaming and Tourism providing long term GDP growth above 7% (5.9% in 2015). International businesses have recognised that, considering its size, Gibraltar is an efficient, highly regulated and internationally tax compliant jurisdiction offering speed to market and access to pragmatic key decision makers. Gibraltar has a strong regulatory environment overseen by the Financial Services Commission (FSC). At the same time Gibraltar provides an attractive fiscal environment for residents and corporates.
Important Links
- Gibraltar Government: www.gibraltar.gov.gi
- Gibraltar Funds & Investment Association: www.gfia.gi
