Gibraltar's International Financial Services sector dates back to the enactment of the Companies Ordinance in 1967, which made provisions for a special tax regime for offshore companies.
Gibraltar has established its own Financial Services Commission in order to provide strong investor protection in relation to Banking, Insurance, Fund Management and other Financial Services. In the important sphere of regulation, investors can rest assured that financial services in Gibraltar are regulated to the highest standards.
A wide range of banks provide both domestic and offshore facilities in Gibraltar and banking confidentiality is enforced by law. There are no exchange control restrictions in Gibraltar and the local currency is pounds sterling although the Government also issues its own currency notes and coins.
Taxation on Gibraltar residents is similar to that found elsewhere in Europe, however, Gibraltar offers special tax incentives for offshore investors.