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Date of Release: Thursday 18 March 1999

OFFSHORE BUSINESS (March 1999) reports that despite heightened tensions with Spain, Gibraltar authorities are "still positive about the Rock's prospects as a financial centre".

"Gibraltar's Deputy Chief Minister Peter Montegriffo told a City of London conference in February that steps taken over the past three years confirmed the territory's place as a well-regulated centre within a European framework," says Offshore Business.

"As the UK's only Crown dependency in the EU, we have the unique ability to offer a very attractive fiscal regime and access to the European Union," Mr Montegriffo told conference delegates. He added that passporting rights had already been established in insurance, with banking to follow shortly. "Already we are starting to see interest from investment and fund management companies in anticipation of full passporting in this sector also," the Minister declared.


Anthony Fisher

Finance Centre Development Director
Department of Trade & Industry
Government of Gibraltar
Suite 771, Europort

Tel No:  + 350 50011
Fax No:  + 350 47677
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