Located on the very southern tip of Spain by the town of La Linea is the British enclave of Gibraltar. It is one of the British Overseas Territories and his home to just over 30,000 people. For many years it has been a bone of contention between Spain and the UK with the main arguing point being the sovereignty of the Rock.
Although part of the UK with the Queen as the head of state, Gibraltar actually looks after its own affairs from a political perspective, although many the the UK laws are also part of Gibraltar law.
It is a duty free location with zero VAT on goods and some of the most favourable tax benefits for businesses. It is also an offshore jurisdiction making it an ideal place for people to become resident, if they meet the minimum criteria.
Of course, like in many offshore jurisdictions, information must be opened up to the EU and UK so there is minimal tax avoidance. However, there are many specialist financial and legal institutions in Gibraltar which can assist individuals in setting up offshore.
Gibraltar is also a very important and strategic shipping channel as it is the access point to the Mediterranean and to North Africa. As such many of the legal firms on the Rock also offer shipping and admiralty services as well as their normal legal services.
Many of the big gambling firms also set up the head offices in Gibraltar like Ladbrokes, Will Hill and Coral. However, recent changes in the UK gambling laws with regards to licences, plus changes in point of consumption tax, meant that in businesses with a high level of UK customers no longer benefited from their offshore status.
