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Overview
Gibraltar continues to be an attractive offshore jurisdiction, given its particularly favourable tax regime. With a domestic property development market that has enjoyed a boom in the last ten years, and a well-known ‘low tax’ policy which offers advantageous treatment to trusts and other corporate structures, Gibraltar has established itself as one of the world’s key offshore centres. The country has attracted several banks, online gaming and casino operators, as well as investment funds, which in turn, have provided an increasing workflow to a number of local law firms. Private client advisory is another of the jurisdictions strengths, with an array of high net worth individuals, from artists to leading sports figures, keen on taking advantage of the country’s appealing fiscal regime for wealth management and acquisition of property. Moreover, Gibraltar law firms are widely praised for being ‘ extremely professional, fielding excellent practitioners, who generally boast a strong international backbone’.
Hassans, Gibraltar’s largest law firm, receives praise all round for being the country’s most highly reputed law firm. Fielding over 50 fee-earners, the firm recently hired DLA Piper’s former Madrid managing partner Kenneth Bonavia to open up its first international office in Sotogrande, Spain. Bonavia will concentrate on representing the ever-growing ex-pat community, which has invested in property in the south of Spain.
Gibraltar’s oldest law firm Isolas was established in 1892, and is also recognised as a market leader. Triay & Triay, another of the Gibraltar’s longstanding firms, stands out particularly for its finance capability. Triay Stagnetto Neish has consolidated its presence as one of the country’s leading firms, particularly since its merger with Denton Wilde Sapte in 2006. Marrache & Co is also a part of the leading pack and boasts offices across Gibraltar, London, Sotogrande and Lisbon.