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, (FSC), 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.
The Office of Fair Trading provides additional support to the economy as a regulator created by HM Government of Gibraltar to support the Fair Trading Act 2015 and subsidiary legislation. It aims to protect the interests of consumers and prevent harmful business practices, ensure a fair market, license and regulate businesses not covered by the FSC, facilitate new business and prevent laundering of illicit funds.
The Government of Gibraltar has introduced tough legislation to combat money laundering on an ‘all crimes basis’ in line with UK and EU’s 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 MoneyVal in 2017.