Commonly known as ‘The Rock,’ Gibraltar is a UK Overseas Territory situated on the southern tip of Spain. Often mistaken as an island, Gibraltar is actually a peninsula and has an active border just beyond its International Airport.
Ceded to Britain by Spain under the Treaty of Utrecht in 1713, Gibraltar is a self-governing territory. Though Great Britain is responsible for Gibraltar’s defence and foreign policy, Gibraltar governs all ‘Defined Domestic Matters’ and has a democratically elected House of Assembly to maintain its independent tax status and enact laws independently of Britain. Furthermore, Gibraltar’s Sovereignty is assured by the Gibraltar Constitution Order 1969 in whereby Britain cannot enter into any sovereignty arrangements against the people of Gibraltar’s democratic wishes.
Gibraltar has hundreds of years of rich history resulting in a proud and strong British connection, this is not just evidenced by Bobbies patrolling the streets and Royal Mail letterboxes from each period of British history. But also a solid British-based legal system and education leading to many students leaving to study in the UK and globally.
After leaving the European Union (Brexit) Gibraltar is still exhibiting a wonderful mix of the location between Europe and Africa Gibraltar has a very rich and unique culture that evolved from British, European and North African Communities. Traditions are celebrated, but embrace new ideas and technologies, such as FinTech, Distributed Ledger Technology (DLT), and Cryptocurrency. Geographically Gibraltar is an ideal location for business and personal travel, with easy access to Europe!
Gibraltar’s currency is the Gibraltar Pound, and the Sterling pound is also accepted in Gibraltar on a one-to-one basis. There are no foreign exchange regulations in force with total freedom to remit funds into and out of Gibraltar.
The independent sovereignty of governance Gibraltar enjoys and the continuity of the sterling currency are two of the many factors why businesses are set up in Gibraltar.
More information about Gibraltar can be found at https://www.gibraltar.gov.gi.
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