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GIBRALTNovA/Dec/JaRn 2019/20 INTERNATIONAL FINANCE n INVESTMENT n BUSINESS Think Business #Think Gibraltar www.gibraltarinternational.com FINANCIAL SERVICES gibraltar’s lawyers since 1905 corporate & commercial Gibraltar’s prominence as a mainstream Finance Centre is dispute resolution now well established. With high regulatory standards, the ÆQDQFLDOVHUYLFHV industry has prospered primarily as a result of Gibraltar’s SULYDWHFOLHQW attractive regulatory regimes, such as the experienced property investor fund regime. shipping & admiralty Gibraltar offers business and lifestyle advantages for those looking to undertake financial services and investment business within the United Kingdom and beyond, coupled with the security of a highly regulated jurisdiction, low taxation and a culture which facilitates business. With over 110 years experience and a visionary and practical approach towards our client’s needs, we have secured outstanding levels of client satisfaction. So with a reputation for legal excellence that is second to none you can certainly count on us. Triay & Triay, 28 Irish Town, Gibraltar Tel: +350 200 72020 • Fax: +350 200 72270 • [email protected] • www.triay.com Sponsors Gibraltar International Magazine is grateful for the support of the finance industry and allied services in the form of committed sponsorship We would like to thank the following sponsors : GIBRALTAR FINANCE Tel: + (350) 200 50011 • [email protected] www.gibraltarfinance.gi ARTEX RISK SOLUTIONS (GIBRALTAR) LIMITED HASSANS Tel: + (350) 200 74570 • [email protected] Tel: + (350) 200 79000 • [email protected] www.artexrisk.com www.gibraltarlaw.com BANK J. SAFRA SARASIN (GIBRALTAR) IFAI LIMITED LIMITED Tel: + (350) 200 67469 • [email protected] Tel: + (350) 2000 2550 www.ifai.gi [email protected] ISOLAS www.jsafrasarasin.com Tel: + (350) 2000 1892 • [email protected] BDO LIMITED www.gibraltarlawyers.com Tel: + (350) 200 47300 • [email protected] KPMG www.bdo.gi Tel: + (350) 200 48600 • [email protected] DELOITTE www.kpmg.gi Tel: + (350) 200 41200 • [email protected] PIRANHA DESIGNS www.deloitte.gi Tel: + (350) 200 45599 [email protected] • THE EUROPA GROUP www.pdg.gi Tel: + (350) 200 79013 [email protected] • RED RIBBON FUND MANAGEMENT LIMITED www.europa.gi Tel: + (44) 20 7183 3710 • [email protected] EY LIMITED www.redribbon.gi Tel: + (350) 200 13200 [email protected] • SAPPHIRE NETWORKS www.ey.com/gi Tel: + (350) 200 47200 • [email protected] FIDUCIARY MANAGEMENT LIMITED www.sapphire.gi Tel: + (350) 200 76651 • [email protected] SG KLEINWORT HAMBROS BANK www.fiduciarygroup.com (GIBRALTAR) LIMITED GIBRALTAR STOCK EXCHANGE GROUP Tel: + (350) 2000 2000 (GSX GROUP) [email protected] Tel: + (350) 200 67822 [email protected] www.kleinworthambros.com • www.gsxgroup.gi TRIAY & TRIAY / T&T MANAGEMENT GIBTELECOM SERVICES LIMITED Tel: + (350) 200 52200 • [email protected] Tel: + (350) 200 72020 • [email protected] www.gibtele.com Tel: + (350) 200 76108 • [email protected] www.triay.com www.ttms.gi www.gibraltarinternational.com Gibraltar International 3 Nov/Dec/Jan 2019/20 Contents Volume 25 Number 4 News P6 A round up of business news from the Rock Business P8 Think Business, Think Gibraltar Published by Gibraltar International Publications Ltd. 21 Bell Lane PMB 104, PO Box 561 Insurance Gibraltar, GX11 1AA P10 Editorial enquiries [email protected] UK motor business still Advertising enquiries driving ahead [email protected] Design [email protected] UK Agent Tel: + 44 (0)1993 703560 No part of this publication may be FinTech P16 reproduced without the written A framework that builds permission of the publishers. for the future Disclaimer Gibraltar International Publications Limited have tried to ensure that all information is accurate, but emphasise that they cannot Law P20 accept responsibility for any errors or omissions, and that they accept Football contracts no responsibility for statements made by contributors or for any claim made in an advertisement. © 2019 Gibraltar International Property Publications Ltd. P22 Property outlook 2019/20 Finance P26 Saving smart 4 Gibraltar International www.gibraltarinternational.com News Boris Johnson’s “Rock like” support British Prime Minister, Boris Johnson assured guests at the Conservative Party Conference in September, that the UK supports Gibraltar and would protect the overseas territory in any withdrawal agreement reached with the EU. Mr Johnson told the audience: “It is the Rock of the British Government which will never, never, never allow the Sovereignty of Gibraltar to be diluted, or adulterated, or in any way changed”. “Gibraltar is absolutely vital for the Andalusian economy and indeed for the whole Spanish economy, and we think that our Spanish friends and partners understand that”, he declared. “Whatever happens, we will ensure that the parts of the withdrawal agreement that relate to the future of Gibraltar will be preserved, and the sovereignty and integrity of Gibraltar will be guaranteed by this government.” he said. New CEO at the GFSC Gibraltar Day Kerry Blight took up his role as the new chairman of the Finance Centre Council Chief Executive Officer, at the Gibraltar and a highly regarded professional in the London 2019 Financial Services financial services community. Commission (GFSC) in His appointment was As part of the Gibraltar October. welcomed by the Gibraltar governments Think Gibraltar Mr Blight previously Chamber of Commerce, who campaign (thinkgibraltar.gi), from served as the Regional are optimistic that with his the 5th to the 7th November, five Director of Royal Bank of knowledge of the local and financial services events will be Scotland International / international financial services held in London. NatWest and subsequently industry, and a reputation for the CEO at Credit Suisse. being fair and reasonable, that Tuesday 5th November, He is also the former he will thrive in the position. Financial Services Lunch, will be held, as is customary in the Old Library, The Guildhall. Wednesday 6th November, Continued market access for Funds & Asset Managers Breakfast, the seminar will be Gibraltar in Queen’s Speech held in the Nash Room, Institute of Directors. The inclusion of a new UK Financial Services Bill (the Bill), as one of 26 legislation listed Wednesday 6th November, in Her Majesty The Queen’s Speech in October was welcomed by the Gibraltar Private Clients and Family government and local financial businesses. Offices Seminar, will be held in The explanatory notes accompanying the speech provide that the Bill will ensure that the United Kingdom (UK) maintains its the Nash Room, Institute of world-leading regulatory standards and remains Directors. open to international markets after we leave the Thursday 7th November, European Union. It further provides that one of Insurance Breakfast, the the main elements of the Bill is to deliver on the seminar will be held at The British government’s commitment for long-term Gherkin, Level 40. market access to the UK for financial services Thursday 7th November, firms in Gibraltar, as part of the UK family. Distributed Ledger Technology The Bill guarantees continued market (DLT) Reception, the event which access on a bilaterally agreed basis between includes an expert panel Gibraltar and the UK in a way that will not session, will be held at Level 39, restrict Gibraltar’s regulatory autonomy in The Sandbox Room, One Canada financial services. Square, Canary Wharf. 6 Gibraltar International www.gibraltarinternational.com Artex Ensuring Greater Understanding Artex Gibraltar o ers an extensive range of insurance and reinsurance company solutions throughout Europe. We have more than 20 years of experience working in partnership with clients to design, license and manage insurance companies. Our leading market expertise, practical approach and personal touch will guide you from the genesis of an idea to development of the project and ongoing evolution. Our insurance management services include: Direct underwriting vehicles passporting into the United Kingdom and Europe Reinsurance underwriting vehicles Protected cell companies Insurance-linked securities and structured transaction administration E ective solutions for legacy business and run-o Operating in over 30 domiciles and in more than 15 o ices internationally, we have the proven capacity to supply any alternative risk need. Let’s work together to ind the right solution for your business. E: [email protected] T: +350.200.74570 ® W: artexrisk.com Artex Risk Solutions (Gibraltar) Limited and Artex Corporate Services (Gibraltar) Limited are regulated and authorised by the Gibraltar Financial Services Commission to carry on business as Insurance Managers and Company Managers. February 2019. 30307A Business Think Business, Think Gibraltar In mid September, HM Government of Gibraltar launched the start of its new business development campaign in London, ThinkGibraltar Government of Gibraltar will be hosting in early November five financial services events in London, as part of the annual Gibraltar Day events. The events will be supported by both the private and public sector to help further drive awareness and inform the rest of the world that Gibraltar is a world class jurisdiction, parliament. This includes all measures on he two month campaign is the latest with world class talent, that is open for financial supervision and regulation, direct promotion from the government to business. taxation and anti-money laundering. The increase more awareness