How is Gibraltar Regulated?
Gibraltar is recognized as one of the best regulated offshore finance centres in the world.
The legal system is based on the common law and statute law of England and therefore embodies the advantage and security of British company and trust law. Only UK qualified barristers and solicitors may practice law in Gibraltar.
Financial Services in Gibraltar are regulated by the Financial Services Commission, a statutory body corporate established by the Financial Services Commission Ordinance, 1989. They are responsible for the licensing and supervision of all companies and individuals who offer financial services to the public. A considerable amount of time and effort has been invested into transposing into Gibraltar law all European Union Directives that relate to financial services. The assistance and co-operation of the UK has been vast and its substantial experience is helpful in ensuring that the required standards are achieved in Gibraltar’s legislation.
The Government of Gibraltar has introduced tough legislation to combat money laundering on an all crimes basis in line with UK and EU high regulatory standards. The anti-money laundering regime in place in Gibraltar has recently been endorsed by the Financial Action Task Force with the regulation and supervision of financial services also endorsed by the IMF in a report dated October 2001.
With the growth in the Fintech market and the Distributed Ledger Technology & Cryptocurrency industries, the Gibraltar Government were among one of the first to introduce a DLT regulatory framework; a robust regime of licencing for those companies who wish to benefit from a fully regulated position and a GFSC DLT Operator Licence.
All gambling operations in Gibraltar are also licenced under Gambling Act 2005 (“the Act”). The Gambling Commissioner, appointed under the provisions of the Act, is granted powers to ensure that licensees conduct their operations in accordance with their licenses and maintain the good reputation of Gibraltar.
The reputational reward of being regulated under either the Gibraltar Financial Services Commission and/or the Gambling Commission had been of significant financial benefit to many companies who have moved to Gibraltar’s shores. For more information on regulation, how to apply and how it could benefit your company, please contact us.
Knightsbridge Incorporations Limited is licensed by the Financial Services Commission in Gibraltar under licence number: FSC24049