A self governed UK Overseas Territory, located in the warm mediterranean climate, with a familiar legal and financial framework make it an attractive option for UK Investors.
The secret of Gibraltar’s economic success can, in part, be attributed to it’s legislative dexterity. Being a small jurisdiction, it is able to adapt legislation quickly to encourage growth of trending business sectors. The Government of Gibraltar is adept at identifying which new business sectors will suit both the environment and the local workforce and then wastes little time introducing incentives for new companies of that type to set up easily. Its GDP figures are proof of this sustained successful strategy as continual growth year on year has outstripped the rest of the OECD countries.
We saw this recently, to good effect, within the gambling sector, which now has a very strong market presence. It brought a large number of talented people and well-paid jobs to Gibraltar. Cryptocurrency and Blockchain are now steadily taking shape as the new areas of economic growth, with a large influx of companies over the past 18 months. Most recently, new legislation has been introduced to provide a regulatory framework for licensing local companies for production, cultivation and distribution of medicinal cannabis . Innovation is necessarily a strong contributor to success.
A huge boost for the Gibraltar economy is likely to take place in December 2021 in the form of an agreement to have the British Overseas Territory formally included within the Schengen countries list. This agreement is currently being negotiated at no less than EU-UK Treaty level, and could mean that the UK and the EU makes Gibraltar the gateway to Europe for UK companies and the gateway to the UK for European countries. We certainly expect to see an influx of businesses taking up the opportunities that this bound to bring.
There is currently a push of inward investment into Gibraltar with a large number of multi-million pound site purchases for new, large, mixed-use building projects, including a new marina, shopping centres and waterfront residential complexes. Gibraltar is seeing a major economic upturn which we expect will assist its property sector to continue to flourish and produce excellent returns in both capital gains and income on investment.
Currently, there is a shortage of quality residential properties on the market, which in turn has caused a property price spike and an increase in rental prices.
he future is looking bright and we look forward to the new developments coming to market, by which time the demand will be so high that early investment in the stock looks really promising for a speculative investor.