Gibraltar has provided offshore services for approximately 30 years and has developed an excellent infrastructure to support a major offshore centre.
The labour market in Gibraltar is very flexible and the local professional workforce is highly educated. More than 50% of school leavers in Gibraltar go on to further education in UK universities and many of them go on to attain UK professional qualifications.
Most importantly, salary costs in Gibraltar are approximately 50% of those paid to equivalent staff in the City of London.
There are no job quotas in Gibraltar and no requirements to employ local staff. There are also no restrictions on residence or work permits for EEA nationals.
There is a beneficial tax regime for expatriates with specialist skills working in the insurance sector (see Taxation).
There is approximately 500,000 square feet of modern, high quality office space available to rent in Gibraltar at very competitive prices (from approximately £7 per square foot).
Many people working in the finance centre in Gibraltar commute daily from Spain.
There are approximately 26 banks and financial institutions established in Gibraltar offering a full range of banking services to the insurance sector. Many of the banks are global players and household names.
The legal system in Gibraltar is based on the English common and statute law as varied by local laws.
Gibraltar has the highest per capita population of lawyers in the world. All lawyers practising in Gibraltar are UK qualified and many of the larger firms have associations with international law firms.
Five of the "Big Six" international accountancy firms are established in Gibraltar. There are also a large number of other well established international and local accountancy firms.
English and Spanish are both first languages spoken in Gibraltar. The official and business language in Gibraltar is English.
The unit of currency in Gibraltar is the Pound Sterling. There is local note and coinage issue which is on par with Sterling. The ECU is also legal tender in Gibraltar.
There are no exchange control restrictions in Gibraltar. There is complete freedom to remit funds into or out of Gibraltar and to convert funds into other currencies.
There are daily flights to and from London. Many other international destinations may reached via Malaga airport which is one hour from Gibraltar.
Gibraltar provides a full range of state of the art digital, satellite, mobile and internet communication services.
"PROFIT FROM OUR LIFESTYLE"
An average of 300 days annual sunshine per annum
60 top class golf courses on its doorstep, including the 1997 Ryder Cup course at Valderamma which is only 20 minutes from Gibraltar.
A whole variety of sports including tennis, sailing, polo, diving, shooting, horseriding, skiing , all within easy reach of Gibraltar.
Anthony Fisher Finance Centre Development Director Department of Trade & Industry Government of Gibraltar Suite 771, Europort Gibraltar Tel No: + 350 50011 Fax No: + 350 47677 E-mail: email@example.com Website: Click Contact Link
You may also wish to read through related material on business and finance in Gibraltar provided by the Gibraltar Finance Centre.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.