About Gibraltar

Government and Internal Affairs 

Gibraltar is a British Overseas Territory with internal self-government. While the UK manages defence, internal security, and foreign affairs, Gibraltar controls its local governance. The government consists of ten ministers and seven opposition members, elected every four years in democratic elections.

European Union

Gibraltar exited the EU alongside the UK on 31 January 2020. The transition period concluded on 31 December 2020. In late 2020, the UK, Spain, and Gibraltar reached a preliminary agreement to maintain border fluidity and proposed Gibraltar's entry into the Schengen Area with Spain as guarantor. Formal negotiations with the EU began in 2021 to finalize this into a treaty. The talks are complex and ongoing, with no clear details yet, and development continue to unfold.

Legal System - Gibraltar Law

The legal system is based on English Common and Statute Law, adapted locally. Justice administration is led by the Chief Justice through three courts: the Magistrates' Court, the Supreme Court, and the Court of Appeal. The ultimate appeal body is the UK Privy Council.

Economy

Gibraltar's economy has transitioned from reliance on UK Ministry of Defence spending to diverse sectors like finance and tourism. The financial services industry is a major economic component, with international banks offering various services exempt from contribute significantly to the economy, supporting full employment and cross-border commuting from Spain.

Financial Regulation

The Financial Services Commission, established in 1989, oversees investor protection in banking, insurance, and fund management. The Commission includes UK and local members with expertise in financial services regulation, ensuring Gibraltar's status as a tightly regulated finance centre.

Learn more with Gibraltar Financial Services Commission & The Gibraltar Regulatory.

Finance Centre Facilities

Gibraltar has developed into a premier finance centre, benefiting from political stability and a legal structure modelled on English systems. There are no exchange controls, and tax exemptions for certain entities attract offshore investment. The Financial Services Commission enforces strong investor protection laws, ensuring credible and professional service standards.