Hassans > Gibraltar, Gibraltar > Firm Profile

Madison Building
GX11 1AA

Gibraltar > Banking and finance Tier 1

Hassans' team of banking specialists is co-led by Nigel Feetham and James Lasry, the head of funds, who have a market-leading reputation for advising major investment and commercial banks, insurance groups and other corporate clients on their operations in Gibraltar. Cryptocurrency and instructions in the wider DLT and fintech space continue to be strong areas of growth, alongside derivatives regulatory work. Yvonne Chu is active in secured and unsecured syndicated loans, international securities offerings and collective investment schemes. Consultant Valerie Holliday is another prominent practitioner.

Practice head(s):

Nigel Feetham; James Lasry

Other key lawyers:


‘Very strong banking practice firm with innovative individuals.’

‘Nigel Feetham and Valerie Holliday are innovative and commercially savvy operators.’

Key clients


Work highlights

  • Advising Valereum on the acquisition of the Gibraltar Stock Exchange and on the tokenisation of fiat securities.
  • Advising and assisting HM Government of Gibraltar on the creation of a dual regime for alternative investment funds under the Financial Services AIFM Regulations.

Gibraltar > Commercial, corporate and M&A Tier 1

Continuing to dominate the market, Hassans is a popular choice for clients seeking advice on corporate structuring, joint ventures, capital duty and tax planning. James Levy has a substantial private client practice and has frequently been called upon by the Government of Gibraltar to assist and advise in respect of financial services, tax and trusts legislation. Senior partners Michael Castiel and Abigail Cornelio remain leading figures for M&A, corporate governance and financing transactions. Cornelio also advises high-net-worth families on business matters as well as structuring aspects of their business. Other key partners include Peter Montegriffo, Vikram Nagrani and Ian Felice.

Practice head(s):

James Levy KC; Richard Buttigieg; Ian Felice; Tim Garcia; Peter Montegriffo KC; Vikram Nagrani

Other key lawyers:


‘The size of the operation and the number of lawyers/specialists in the practice is unique in Gibraltar. The firm has lawyers specialising in diverse sectors which make the practice market leaders in areas where the jurisdiction has thrived in recent years. The strength of the practice’s connection with regulatory authorities and Government is unequalled. Accessibility to senior lawyers is also a plus feature.’

‘The team is very much up-to-date in respect of Gibraltar domestic law, inclusive of recent changes to Gibraltar legislation. It is also very well versed and aligned in respect of international law. The team also has very good working experience with blue-chip clients. The practice appears to be very inclusive and diverse in respect of its staff.’

‘An extremely sound team with depth and grasp of the issues. The team leader is exceptional with a sharp commercial mind and is hugely gifted at problem solving and innovation. The team is efficient and hardworking and can be relied upon to meet targets and timelines. The work is accurately budgeted and billed and mostly agreed beforehand.’

‘Ian Felice – the complete lawyer. Highly efficient and prompt service at all times. Very professional approach, however user friendly at the same time.’

‘Extensive experience in all areas of commercial and corporate law. Prompt and highly efficient service. Attention to detail and focus on providing a complete support mechanism to the client.’

Key clients


Government of Gibraltar

Lloyds Bank


Gibraltar Football Association

Subsea 7

Apax Partners

Oaktree Capital Management

Entain Holdings PLC

Scientific Games

Viatris (previously Mylan)

Royal Bank of Scotland (Gibraltar) Limited

Pacific Drilling (now Noble)

Forafric Global PLC

Work highlights

  • Advised Lighthouse Capital on its entry into a business combination agreement under which Globis Acquisition Corp will acquire the shares in Forafric Agro Holdings from Lighthouse Capital.
  • Advised TNG on two landmark real estate development transactions in Gibraltar, the Bayside Project and the Eastside Project.
  • Acting for St Michael’s Path Development on the assignment of various leases from the Saccone & Speed Group, negotiation with HMGoG for the grant of a new headlease and subsequent mixed use residential, office and commercial development.

Gibraltar > Dispute resolution Tier 1

Hassans maintains a balanced claimant and defendant practice, with a long track record acting for major multinationals and SMEs across the full breadth of disputes in Gibraltar. It is also a popular choice among international firms for referrals. The firm has a strong mediation practice, and its ‘very knowledgeable and efficient‘ lawyers, led by Lewis Baglietto, are experienced in partnership, company and insolvency disputes, as well as in tracing, freezing and asset recovery. Senior advocate Gillian Guzman KC specialises in employment, equality and clinical negligence cases, among others, while Darren Martinez focuses on disputes involving commercial, insolvency and construction law and cryptocurrency. Daniel Feetham KC is another top litigator.

Practice head(s):

Lewis Baglietto

Other key lawyers:

Gillian Guzman; Daniel Feetham; Darren Martinez


‘Litigation experience is incredibly strong, staff used at appropriate grades. The partner can be reached at any time, and proactive communication is excellent.’

‘Extremely pleasant and effective in cooperation with lawyers in foreign jurisdictions. Very knowledgeable and efficient, fantastic presenters in Court.’

‘Daniel Feetham is very knowledgeable and offers balanced advice. He is always on hand, and does not defer to colleagues – he answers calls immediately or, if he is busy, as soon as he can thereafter.’

Key clients

Republic of Kazakhstan

The Swedish Club

Caterpillar Finance Services UK Ltd

The Minister for Justice

Newline Underwriting

Gefion Insurance

Motor Insurance Bureau

Gibraltar Financial Services Commission

Work highlights

  • Advised Wardour on enforcing a circa €100m judgment in favour of a liquidator in other jurisdictions including the Netherlands and Ukraine.
  • Instructed by the Joint Administrators of Green Realisations 123 (formerly MCE Limited) which was placed into Administration in November 2021.
  • Acted for Panorama and a journalist in a defamation case in which a preliminary issue was whether the defendants were entitled to a jury.

Gibraltar > Fintech Tier 1

Hassans‘ fintech team draws on the experience of 13 practitioners, led by Anthony Provasoli, with support from Aaron Payas. It can regularly be found advising on issues surrounding Web3, NFTs, metaverse, crypto funds, crypto foundations, token sales and DLT licences. Provasoli is an advisor to the Government of Gibraltar, as well as numerous European cryptocurrency businesses, DLT providers and fintech firms.

Practice head(s):

Anthony Provasoli

Other key lawyers:


‘Hassans’ practice has an excellent knowledge of the banking sector in their jurisdiction. They are practical and highly responsive with clients.’

‘Hassans has comprehensive resources and a solid infrastructure to ensure quality legal advice. Their expertise covers new regulated markets and embraces new world technology to meet the urgency that today’s world demands.’

‘They are unique in the market in their ability to advise on fintech and crypto activities. Their business development in the sector is impressive and they have good access to regulators to be able to get things done very effectively.’

‘Aaron Payas has very clear thinking, is able to cut through the options and advise on the best way forward. Aaron is totally solutions-focused.’

‘Aaron Payas is a leading individual in the fintech sector, and particularly on crypto. He is tireless at developing his knowledge and skills in the area and is incredibly well connected. His work is outstanding and the quality of projects that he advises is very high. ‘

‘In a small market, they understand the bigger picture and appreciate that international considerations need to be thought about rather than just local things that might not have been thought about in the past. Aaron Payas is the lead partner and is always hands on and willing to look at different topics and projects that come up.’

Key clients

INX Limited




Cudo Ventures


Panther Protocol


Orbital (PayPerform)


Aurora Protocol

FTFT UK Limited





Alphabeth Capital


Coinbase Global, Inc

deVere Group

Bullish (via Simmons & Simmons LLP as instructing solicitors)

Club Game App

Fragbite Group AG

GSX (Gibraltar Stock Exchange)

Himalaya International Clearing Ltd

Turncoin Limited

BoXX Limited

Koii Labs



Amero Exchange


Zip Web3 Limited

ZUBR Exchange Limited



Poolz Platform


Ready Maker Games

Work highlights

  • Advised CEX.io on the expansion of its regulatory permissions in Gibraltar to include a wider range of products and services.
  • Assisting EXMO in its application to the Gibraltar Financial Services Commission for permission to operate as a regulated DLT Provider in Gibraltar.
  • Assisting Belobaba Fund PCC on matters connected to a tokenised fund established in Gibraltar.

Gibraltar > Gambling law Tier 1

At Hassans, leading practitioner Peter Montegriffo has assisted countless clients in the gambling, gaming and entertainment sectors in relation to licensing applications, ongoing regulatory compliance, and in all corporate and commercial matters arising from their activity in Gibraltar. A member of the International Masters of Gaming Law, Montegriffo continues to be at the forefront of the latest developments in international gambling law. Andrew Montegriffo is another partner to note for B2C and B2B operators on licensing and regulatory matters.

Practice head(s):

Peter Montegriffo

Other key lawyers:

Key clients





Scientific Games

888 Holdings Plc

William Hill


High 5 Games


Games Global

Continent 8


Pragmatic Play

Flutter Entertainment

IBID Group

Anzo Group


Work highlights

  • Advising the Government of Gibraltar on the new Gambling Act, which is currently in the consultation stage.
  • Advised on the acquisition of shares, listing and FCA issues in the UK, financing and security arrangements, gambling regulatory approvals and consents in respect of 888’s acquisition of William Hill’s non-US business.
  • Advising Flutter on corporate matters relating to the share acquisition, regulatory approvals, employment and property matters in relation to Flutter Entertainment’s acquisition of Tombola.

Gibraltar > Investment funds Tier 1

Hassans has experience advising across all types of structures, including protected cell companies, limited partnerships, EIFs and private funds. It is also frequently sought out for advice on the set up of Experienced Investor Funds. The ‘doyen of funds law in GibraltarJames Lasry leads the practice, along with Aaron Payas as the deputy, who leads on the establishment of crypto funds. Associate Jeremy Requena works alongside the key partners on the structuring and launch of a range of private and experienced investor funds, including crypto funds, private equity funds and property funds.

Practice head(s):

James Lasry

Other key lawyers:


‘Professional team which is very well synchronised and available for any need with high level solutions.’

‘James Lasry is an outstanding lawyer, with superb technical knowledge and a very commercial mind-set. The doyen of funds law in Gibraltar, with a deep knowledge of investment funds in Gibraltar and around the world, and great relationships with regulators and the government.’

‘The team is very professional, dynamic and always looking to provide technically robust yet practically implementable advice. The team also now has crypto currency expertise as well as the traditional investment classes.’

‘James Lasry is extremely solution oriented, friendly, humble and well connected which is always very helpful.’

Key clients

Turicum Private Bank

Argon Financial Limited

Patron Capital Gibraltar

Kleinwort Hambros

Burren Capital

Granite MSA Ltd

Linkbay Limited

Pembroke Partnership Limited

GAM BSD Limited

Hyperion Wealth Management Limited

Hyperion Group Limited

Ribera Capital Limited

RYSE Asset Management

BlueRock Advisory Limited

Anthony Jimenez & Co Limited

Covalis Capital LP

GY Ventures

Albany Capital

Panther Capital

Juno Fund Administration Limited

Mingo Technologies Limited

INX Limited

Alvento Capital Partners LLP

Thameside Markets Limited

Stellar Partners Limited

Polar Capital Funds plc

Digital Asset Management Limited

Valereum Blockchain Plc

PKAM Fund PCC Limited

Node Capital Token Opportunity Fund LP

Pattrn Capital Fund PC

Atlas Fund PCC Limited

Dechert LLP

Ancyra Digital Asset Private Fund LP

Belobaba Fund PCC Limited

Xnumia EIF PCC

In Silico Fund

AquaNow Fund

Cointelligence Fund

Aureus Fund

Cole Capital Fund

Alphabeth Fund

Sigil Fund

Bright Oryzon Fund

Alpha Adventures Fund

FQR Fund

Castle Rock Limited

Work highlights

  • Advised Pattrn Capital Fund, a crypto fund, Gibraltar’s first Protected Cell Limited Partnership under the new Protected Cell Limited Partnerships Act, 2021.
  • Advising the Government of Gibraltar on the ground-breaking Dual Regime for funds.
  • Advised PKAM Fund, which is Gibraltar’s first fund which is dedicated exclusively to investing in SPACs.

Gibraltar > Private client Tier 1

Hassans has vast experience advising high-net-worth individuals (HNWI) and their families to establish in Gibraltar in matters ranging from securing residency and transferring assets through to property matters, re-domiciling corporate vehicles and setting up trusts. Its fiduciary services are carried out through subsidiary Line Trust Corporation. Key names include James Levy CBE KC, Peter Montegriffo KC and Moses Anahory, an expert in the formation and validity of complex trust structures and on the ongoing operation of trusts across multiple jurisdictions.

Practice head(s):

James Levy CBE KC; Moses Anahory

Other key lawyers:

Peter Montegriffo; Javier Chincotta


‘Outstanding – very well networked firm.’

‘James Levy is an amazing lawyer with a very broad experience.’

‘They are extremely responsive and pragmatic.’

‘Through its high level connections with government and industry, the firm is very well placed to amend legislation and shape government policy.’

‘Peter Montegriffo is able to grasp the issues very quickly and come up with pragmatic solutions to address the problems.’

‘The team has lots of knowledge and knows where to obtain the best advice, should they not have it in house.’

Gibraltar > Real estate and construction Tier 1

Hassans' ‘market-leading‘ real estate and construction practice has a strong track record in high-end residential and commercial sales, purchases, developments and leases. It also has extensive expertise acting for banks in lending on property. Nicholas Howard primarily works with developers across all facets of large-scale real estate developments. Ian Farrell's practice focuses on town planning work and contentious landlord and tenant engagements, while construction lawyer Gemma Vasquez continues to advise the government on construction aspects of the largest affordable housing scheme in Gibraltar. Corporate and tax partner Isaac Levy, development finance partner Karl Ghio and associates Meera Aswani and Stephanie Acris complete the standout team.

Practice head(s):

Nicholas Howard; Gemma Vasquez; Isaac Levy


‘Hassans have a very diverse and well-structured team of professionals who are very much aware of each other’s competencies. Their property and construction team always provides sound and reliable advice geared more towards providing practical solutions than boasting about their academic expertise.’

‘Very strong practice. Market leading.’

‘Gemma Vasquez is in my opinion the best construction lawyer in Gibraltar!’

‘Hassans cover almost every department. It helps everyone find solutions, from high-net-worth individuals to small businesses. It grows from strength to strength, keeping up with new trends and specialising in them.’

‘Nick Howard has an extraordinary eye for detail and can be relied upon to review all the work to a very high standard. Entirely reliable and a safe pair of hands.’

‘Ian Farrell is a well-known and well-respected lawyer in Gibraltar. He avoids litigation whenever possible. He excels at solving otherwise complex problems by finding the most efficient and effective solution to move forward. He is practical in dealing with problems.’

‘Stephanie Acris is an excellent property lawyer. Extremely knowledgeable and quick to find solutions.’

Key clients


Ocean Village


Commercial Development Investments Ltd

Hillstone Properties Ltd

Forbes Property Ltd

Tylee Properties Ltd

PC Properties Ltd (E1)

Trusted Novus Group

WDF Properties Ltd

BV Homes Ltd

Orange Bastion Holdings Ltd

SG Holdings Ltd



Alwani Holdings

Criterion North Gorge Ltd

Phoenix Capital Ltd.

Kleinwort Hambros

Gibraltar International Bank


Prior Park Schools

North Gorge Properties Limited

Work highlights

  • Advising HM Government of Gibraltar, numerous developers, HNW investors and banks in respect of development finance and property finance for various developments.
  • Advised HM Government of Gibraltar on the acquisition of Gibdock by the Balaena Group, and the drafting of the provisions of the new lease over the Dockyard.
  • Advised TNG Global Foundation on (i) The Eastside Development, to include a revetment, marina, retail and residential premises as well as a large botanical garden; and (ii) The Bayside Development, to include commercial, residential and retail premises.

Gibraltar > Shipping Tier 1

Shipping is one of Hassans‘ core areas of expertise, in which it offers a ‘depth of resources’ to handle asset finance, insurance matters and vessel registration, including on the recently expanded registration of all types of pleasure yachts. On the contentious front, the team maintains a busy practice acting in collision claims, maritime employment-related issues and charter party issues. Lewis Baglietto KC has over 25 years’ experience in wet and dry shipping. Yvonne Chu lends her expertise on shipping finance and maritime-related security transactions.

Practice head(s):

Lewis Baglietto

Other key lawyers:


‘The extensive team available ensures prompt availability for any unplanned and urgent advice required. The shipping team always has depth of resources, and a multi-layered approach which means that there is always continuity at all times.’

‘Noted for its dedication, wealth of experience, specialization as well as the wider experience and ability to bring in specialist support from wider sectors.’

Key clients

Caterpillar Finance Services UK Ltd

Gibraltar Port Authority


Gibraltar Maritime Administration

Various banks

Various HNWIs

Work highlights

  • Advising and acting in relation to sanctions applicable to Russian-owned vessels.
  • Advising the Gibraltar government on shipping legislation for compliance with international maritime obligations.
  • Advising various HNWIs on the purchase of superyachts and their subsequent registration with the Gibraltar Yacht Registry as SSR and/or Part 1 Registrations.

Gibraltar > Tax Tier 1

Benefitting from a deep bench of tax specialists, Hassans‘ core team includes Michael Castiel, a senior consultant in international tax, corporate tax and structuring, and Grahame Jackson, who specialises in international property investment structures. Tim Garcia leads the cross-border corporate tax team, complemented by Isaac Levy's work with high-net-worth individuals in the tax structuring of their investments. The team is well qualified to assist in matters involving family and estate tax planning, property and residential status. Francis Carreras focuses on tax structuring/restructuring and the relocation of companies and individuals to Gibraltar, and local tax investigations.

Practice head(s):

Michael Castiel; Tim Garcia; Grahame Jackson; Isaac Levy; Francis Carreras


‘Hassans Law firm leaves me at ease and grounded in safety, they definitely articulate my goals and create a plan for a success. There is trust and honesty at all times always acting for my best interest.’

‘Francis Carreras and his team work in a very professional manner doing what needs to be done taking care of my needs and the needs of my family. These are qualities that I greatly value.’

‘Hassans has a team of very responsive and knowledgeable lawyers. I had the occasion to work a few times with them and they are very solution-oriented.’

‘Tim Garcia is a very articulate and savvy tax adviser. He can put a problem in perspective and lay out options in a very practical manner.’

Key clients

Subsea 7

Pacific Drilling (now Noble)


Work highlights

  • Provided industry-wide advice with regard to the implementation of DAC6 and CRS to the fiduciary and banking sector.

Gibraltar > TMT Tier 1

Hassans‘ multidisciplinary team combines its diverse range of experience in the gaming, e-sports, entertainment and fintech sectors with its top-notch specialists in the corporate, data protection and regulatory departments. Anthony Provasoli is the chief partner for fintech-related work, and is assisted by Andrew Montegriffo on online gaming and digital technologies. Commercial senior partner Peter Montegriffo KC and corporate partner Vikram Nagrani jointly head the group.

Practice head(s):

Peter Montegriffo; Vikram Nagrani

Other key lawyers:


‘The team at Hassans are the experts in gambling regulation in Gibraltar. They are a highly experienced team who we have found to be very reliable and a pleasure to work with.’

‘Very good team spirit and good lawyers who actively try to help and think along with the client.’

‘Peter Montegriffo and Andrew Montegriffo have a keen business as well as legal understanding, and provide useful guidance to the clients.’

‘Teamwork, thinking along with the business and vision of the client. Giving advice to the point.’

‘Andrew Montegriffo and Louise Federico are very knowledgeable in their respective areas. We find them to be approachable, personable and always professional in our dealings with them.’

‘The team is responsive, well versed in local regulations and is in good relationship with the regulator.’

Work highlights

  • Supported CEX.io on the expansion of its regulatory permissions in Gibraltar to include a wider range of products and services.
  • Assisting EXMO in its application to the Gibraltar Financial Services Commission for permission to operate as a regulated DLT Provider in Gibraltar.
  • Advised Modex on the establishment of a Private Foundation to support the Modex Network, which develops blockchain-based products, tools and frameworks.

The firm: Hassans was founded in 1939 and is the largest firm in Gibraltar. It is one of the world’s foremost offshore law firms which combines an old world approach to client service with a new world approach to business and technology. Hassans are trusted advisers to clients both locally and overseas who seek legal guidance in a fast-moving, multi-jurisdictional world. Though rooted in Gibraltar, the firm has an international clientele in key jurisdictions around the world, with many assignments involving cross-border advice. The extent of the firm’s expertise, combined with its worldwide network including major London, continental and UK law firm links, gives Hassans the reach to satisfy all of its clients’ needs.

Areas of practice
Corporate and commercial: The firm provides a full range of legal services for clients ranging from small businesses to major multinationals. It advises corporate clients working in or through Gibraltar on a wide variety of cross-border transactions and financing structures. Other matters handled include international corporate restructures, joint ventures, M&A and corporate franchising, tax and e-commerce.

Data protection: The firm’s data protection team has been specialising in data protection since the early 2000s. With the increased threat of penalties for non-compliance of the General Data Protection Regulation (GDPR) the team is able to work with clients on strategy, drafting policies and delivering in-house training to ensure full compliance and mitigate risk.

Environmental: The team has developed a range of experience in all aspects of environmental work, including assisting with the drafting of environment and climate change legislation, reviewing the environmental aspects of legal documents relating to planning and construction, and facilitating the trading of green assets internationally.

FinTech: Gibraltar has fast become a key crypto harbor which Hassans has contributed to on a wide scale; the firm has been deeply involved in assisting the Gibraltar Financial Services Commission with the drafting of the Guidance Notes to Gibraltar’s DLT Providers Regulations and has attracted a significant number of initial coin offerings/token sales and other distributed ledger technology related matters, including licence applications under Gibraltar’s DLT Providers Regulations.

Funds: The fund industry in Gibraltar has seen rapid and impressive growth, and it continues to expand at a phenomenal rate. As a result, Gibraltar has become a serious option for individuals and companies considering where to base investment funds. Hassans has been at the fore front of this development, advising both the Government of Gibraltar and most of the funds domiciled in Gibraltar.

Gaming: The firm has advised some of the major on-line betting operators on setting up their operations in Gibraltar and on their IPOs on the London Stock Exchange. The firm has also been heavily involved in assisting the Gibraltar government and industry in drafting the Gambling Act, which has modernised gaming legislation.

Insurance: Hassans is not only part of the Gibraltar insurance industry, the firm helped create it. The firm’s innovative approach has delivered value to insurance clients over the last 20 years working with some of the biggest names in the industry.

International finance and banking: The firm has particular experience in banking and financial markets. It is the only firm in Gibraltar to combine specialist expertise in derivatives regulation with a substantial banking, tax and securitisation practice. The firm advises on banking regulation and licensing, including the establishment of offshore operations and regulatory advice, as well as the implementation of various legal and tax structures including repackaging and securitisation.

Litigation: The department handles most aspects of litigation, with a niche focus on international commercial and trust litigation. The firm’s litigators practise as both barristers and solicitors, and provide a full range of litigation services.

Pensions: Hassans has a specialist pensions law advice function which boasts a team of lawyers with an unrivalled background in and knowledge of the UK and Gibraltar tax system. The team, together with Hassans’ associated company management firm, Line Group Limited and its pension trusts arm, Quantum Trust Corporation Limited, is able to provide professional advice and regulatory guidance on the best possible options for clients, on a case by case basis.

Private client: Many clients choose to obtain Gibraltar residence and thereby benefit from our very favourable tax system. The team can advise on everything our clients need including securing resident status, obtaining Cat 2 status, transferring assets, taxes, permits, property, re-domiciling corporate vehicles and setting up trusts. Whilst the firm naturally focus on Gibraltar’s competitive legal and fiscal system, the firm’s expertise covers a broad range of jurisdictions. The firm is therefore able to create bespoke structures for private clients establishing trusts and companies both inside and outside of Gibraltar, if required.

Property: The firm acts for most of the major local and international developers and builders. The firm advises on matters concerned with secured lending, mortgages and charges for most banks and building societies in Gibraltar.

Shipping: The firm has strong links with major English shipping firms and has been involved in a number of significant international admiralty cases. The firm also handles ship registration and finance.

Spanish law: The firm’s English-speaking, Spanish qualified lawyers based in Sotogrande, Cadiz (www.hassans.es) help international corporate and private clients, as well as expatriates in Spain, navigate the Spanish system on all matters including banking and finance, corporate and commercial, real estate, residency matters and tax.

Sports law: The firm’s multi-disciplinary sports team comprises a dedicated team of contentious and non-contentious lawyers who are passionate about sport. The Team is supported by experts across the firm who have significant experience in areas such as immigration, employment, brand protection, real estate, financial services and tax. The team is international in outlook – it acts for clients from around the world and its members are fluent in a number of foreign languages.

Trust and company administration: Through an associated company (Line Group Ltd) the firm provides administration services for both companies and trusts. Among the users of these services are international clients who the firm advises on the use of Gibraltar trusts and offshore companies.

International work: Three quarters of the firm’s work is related to international clients. Many of them use Gibraltar companies and trusts to structure their fiscal, fiduciary or investment requirements, and over the years strong links have been forged with major multinationals, financial institutions, banks, law and accountancy firms throughout the world.

Clients: The firm’s international clients predominantly come from the US, the UK, Israel and continental Europe (in particular Luxembourg, The Netherlands, Spain and Portugal). They include global corporations, private equity groups, international banks and insurance companies.

Department Name Email Telephone
Corporate, Tax, Private Client James Levy CBE KC james.levy@hassans.gi +350 2007900
Corporate Michael Castiel michael.castiel@hassans.gi +350 20079000
Banking Tony Provasoli tony.provasoli@hassans.gi +350 20079000
Banking Valerie Holliday valerie.holliday@hassans.gi +350 20079000
Litigation Lewis Baglietto KC lewis.baglietto@hassans.gi +350 20079000
Employment, Dispute Resolution Gillian Guzman KC gillian.guzman@hassans.gi +350 20079000
Commercial, Gaming, Private Client Peter C Montegriffo KC peter.montegriffo@hassans.gi +350 20079000
Trusts Moses Anahory moses.anahory@hassans.gi +350 20079000
Corporate and Commercial Ian Felice ian.felice@hassans.gi +350 20079000
Insurance Nigel Feetham nigel.feetham@hassans.gi +350 20079000
Property Nicholas Howard nicholas.howard@hassans.gi +350 20079000
Property Ian Farrell ian.farrell@hassans.gi +350 20079000
Corporate and ommercial Vikram Nagrani vikram.nagrani@hassans.gi +350 20079000
Funds James Lasry james.lasry@hassans.gi +350 20079000
Fintech, Funds Aaron Payas aaron.payas@hassans.gi +350 20079000
Photo Name Position Profile
Joseph Abudarham photo Mr Joseph Abudarham Joseph has over 14 years’ experience in tax, trusts and private client…
Stephanie Acris photo Ms Stephanie Acris Stephanie joined Hassans in December 2013 and is an Associate in the…
Nigel Acris photo Mr Nigel Acris Nigel completed his LLB Honours Degree through the Open University whilst in…
Moses Anahory photo Mr Moses Anahory Moses joined Hassans in 1994 after qualification and spent two years with…
Meera Aswani photo Ms Meera Aswani After graduating with a BA honours degree in English Literature from the…
Dick Azopardi photo Mr Dick Azopardi Dick Azopardi is a consultant to Hassans having previously headed the firm’s Property…
Lewis Baglietto photo Mr Lewis Baglietto Lewis Baglietto is the Senior Litigation Partner and Head of Litigation at Hassans. He…
Lewis Baglietto photo Mr Lewis Baglietto Lewis Baglietto is the Senior Litigation Partner and Head of Litigation at Hassans. He…
Moses Benady photo Mr Moses Benady Moses advises on all tax related issues with particular focus on the…
Eli Beniso photo Mr Eli Beniso Eli is a member of the Hassans Tax and Overseas Property Department specialising in private client…
Kenneth Bonavia photo Mr Kenneth Bonavia Based in Hassans’ Gibraltar office, Kenneth advises on: Cross border corporate and…
Richard Buttigieg photo Mr Richard Buttigieg Richard is a Partner at Hassans and a member of the firm’s Corporate…
Michael Castiel photo Mr Michael Castiel Michael is a former senior partner of the Firm and continues to…
Javier Chincotta photo Mr Javier Chincotta Javier is the Managing Partner and co-team leader of both the Private…
Yvonne Chu photo Ms Yvonne Chu Yvonne Chu became a partner in Hassans’ Financial Services and Banking Team…
Jerome Compson photo Mr Jerome Compson Jerome is an Associate in Hassans’ Financial Services Department and forms part…
Abigail Cornelio photo Mrs Abigail Cornelio Abigail joined the firm in 2003 and is a partner of the…
Ian Farrell photo Mr Ian Farrell James is a Partner, Head of the Funds Team and Deputy Head of the…
Daniel Feetham photo Mr Daniel Feetham Daniel is a senior and highly experienced courtroom and advisory leader who…
Nigel Feetham photo Mr Nigel Feetham Nigel is currently serving as  Minister for Justice, Trade and Business to…
Ian Felice photo Mr Ian Felice Ian joined the firm in 1999 and is a Partner of Hassans’ Corporate…
Tim Garcia photo Mr Tim Garcia Tim Garcia is a Partner of Hassans International Law Firm Limited (since…
Karl  Ghio photo Mr Karl Ghio Karl joined Hassans in 2012 and was made Partner on 1st July…
Gillian Guzman photo Ms Gillian Guzman Gillian specialises in general civil and criminal litigation with particular emphasis on…
Valerie Holliday photo Ms Valerie Holliday Valerie Holliday is a partner in the Banking and Financial Services Department…
Nicholas Howard photo Mr Nicholas Howard Nicholas is head of the firm’s busy and vibrant property department and…
Grahame Jackson photo Mr Grahame Jackson Grahame is a Solicitor, Chartered Tax Adviser and partner with the firm…
James Lasry photo Mr James Lasry James is a Partner, Head of the Funds Team and Deputy Head of the…
Isaac Levy photo Mr Isaac Levy Isaac is a corporate law and tax specialist with a focus on…
James Levy CBE KC photo Mr James Levy CBE KC James Levy is the Senior Partner of Hassans, specialising in corporate and…
James Levy CBE KC photo Mr James Levy CBE KC James Levy is the Senior Partner of Hassans, specialising in corporate and…
Darren Martinez photo Mr Darren Martinez Darren joined Hassans in October 2011 and was made Partner in the…
Peter Montegriffo photo Mr Peter Montegriffo After graduating with a BA honours degree in English Literature from the…
Andrew Montegriffo photo Mr Andrew Montegriffo Andrew Montegriffo is a Partner in the Corporate and Commercial Department and forms part…
Peter Montegriffo photo Mr Peter Montegriffo Peter Montegriffo is a Partner at Hassans and a member of the…
Raquel Moss photo Mrs Raquel Moss Raquel is responsible for the running of Line Trust Corporation Limited. She specialises in all…
Vikram Nagrani photo Mr Vikram Nagrani Vikram is a longstanding Partner in Hassans’ Corporate and Commercial department and part of…
Michael Nahon photo Mr Michael Nahon Michael Nahon is a Partner at Hassans. He has been specialising in Data…
Aaron Payas photo Mr Aaron Payas 🙋🏻‍♂️ Web3 & Funds lawyer. BAYC #3338. Chartered Financial Analyst (CFA) charterholder.…
Justine Picardo photo Mrs Justine Picardo Justine is a Partner in our Corporate and Commercial Department.  She joined…
Tony Provasoli photo Mr Tony Provasoli Tony Provasoli specialises in financial services and leads the Hassans’ Financial Services…
Anthony Provasoli photo Mr Anthony Provasoli Anthony is a Partner, Deputy Head of Financial Services and leads the…
Tania  Rahmany photo Ms Tania Rahmany Tania is a Senior Associate in Hassans’ Corporate and Commercial Department. Having…
Jeremy  Requena photo Mr Jeremy Requena Jeremy is an Associate in the Financial Services Department. He specialises in FinTech, Investment Funds and…
Maxi Torres photo Mr Maxi Torres Maxi was promoted to Partner in July 2013 and advises on a…
Gemma Vasquez photo Ms Gemma Vasquez Gemma is a Partner in the Corporate and Commercial team. She specialises…
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Other office : Sotogrande


Gibraltar combines strong economic growth and a favourable tax regime with a warm, Mediterranean climate and vibrant lifestyle. It enjoys a solid global reputation for stability and efficiency with robust infrastructure and prudent regulation. Gibraltar’s small size and close-knit community delivers considerable speed to market with easy accessibility to key decision makers in the jurisdiction. For these reasons, and many more, Gibraltar hosts several major corporations spanning a wide variety of industries from insurance to gaming, property to crypto, and is the jurisdiction of choice for international businesses looking to establish a strategic European presence.


Gibraltar is a British overseas territory located on the southern tip of Spain with a population of 33,573. The tiny peninsula, a mere 6.8 km2 (4.2 square miles) in area, separates the entrance of the Mediterranean Sea from the Atlantic Ocean. Gibraltar shares a single land border with Spain, with Morocco situated 14.3 kilometres (8.9 miles) away, across the Straits of Gibraltar. Its most prominent feature is the Rock of Gibraltar, a towering monolith of limestone some 426 m (1,398 ft) in height.

Throughout its often-turbulent history, Gibraltar’s strategic importance, economic status and prosperity has rarely wavered. Today it boasts a broad portfolio of industries including finance, insurance, shipping and gaming. Thanks to an average of 300 days of sunshine per year, Gibraltar also benefits from high levels of tourism.

Gibraltar has been a British territory for over 300 years. Therefore it employs a legal system closely based on English Common Law and uses the Gibraltar Pound as currency, though shares the CET timezone (UTC+1) and, as with the rest of mainland Europe, traffic drives on the right.

Under Article 227 of the Treaty of Rome, Gibraltar is a member of the European Union, having gained membership automatically when the United Kingdom joined in 1973.

Gibraltar’s status as a British Overseas Territory lends it several key advantages over other offshore jurisdictions. It has its own autonomous parliament and has competence to pass its own laws. Gibraltar belongs to the European Free Trade Association (EFTA), or Single Market, but not the Customs Union or Schengen Area.

This means that, while Gibraltar-based companies are currently able to sell and provide their services to other Single Market countries, in a process known as “passporting”, imports and exports are still subject to local customs controls and excises.

Gibraltar is exempt from EU legislation on VAT and enjoys full autonomy on all tax issues. Generally speaking, however, Gibraltar’s swift legislative turnaround means the jurisdiction is fully up to date with EU laws and directives, where applicable, such as the General Data Protection Regulation (GDPR), and will continue to maintain this harmonisation for the foreseeable future.

In 2016 a full 84% of the electorate (compared to the British average of 72.2%) turned out to vote on June 24th, with 95.91% (the highest majority in all of Britain) voting to remain within the EU. The results mirrored the sovereignty referendums of 2002 and 1967 when 98.48% and 99.64% of voters respectively elected to remain British.

Both of these results speak volumes about Gibraltar and its people; who view themselves as distinctly British, but ultimately European. The Gibraltarian lifestyle is a unique hybrid experience where British influences are paired with Mediterranean flair, alongside additional North African and Asian infusions.

Gibraltar’s fascinating culture and history and stunning landscape, combined with its sunny climate, makes it a popular tourist destination, with over ten million visitors arriving in 2016 alone, resulting in a total revenue of £211.9 million.

In addition to Gibraltar’s bars, restaurants and casinos, visitors can also enjoy VAT-free shopping while soaking in the unique atmosphere. Not surprisingly, the iconic Rock is one of Gibraltar’s most popular destinations, with tourists being particularly fond of its most famous residents, the Barbary macaque apes.


Gibraltar permits foreign shareholders, welcomes foreign investment and does not restrict capital imports or foreign earnings such as interest, royalty payments or other similar earnings. There are, however, restrictions on specific industries which require special licensing. (See chapter on Setting up a business in Gibraltar.)

While Brexit continues to dominate the headlines, the mood in Gibraltar remains one of cautious optimism. Nominal GDP annual growth from 2016 to 2017 was at 8.9%, with annual inflation at 2.6%. Job growth was at 3.6%, with average annual earnings of £28,752, higher than the UK average of £27,600.

Gibraltar’s financial industry is regulated by the Gibraltar Financial Services Commission (“GFSC”) which operates in concord with key overseas agencies including the OECD, IMF and FATF.

Reputation, regulation and credibility are at the forefront of Gibraltar’s priorities. The jurisdiction continually updates its financial regulation, supervisory legislation and anti-money laundering legislation to comply with UK standards, the most stringent standards in Europe.


Gibraltar’s economy is almost entirely service-based. It enjoys an unemployment rate of 1% with the labour market bolstered by a combination of native and expatriate commuters arriving daily from Spain.

Gibraltar weathered the financial crisis with barely a blemish and enjoyed steady growth, year on year, with a GDP of £1.9 billion from 2016 and 2017. Gibraltar’s GDP per capita during the same period was £56,612.

Gibraltar’s official currency, the Gibraltar Pound, is minted in Gibraltar and shares parity with the British Pound – both currencies are legal tender in Gibraltar.


Although Gibraltar has its own autonomous Parliament, legal practitioners must first gain their qualifications from the United Kingdom. In Gibraltar, however, the distinction between the duties of barristers and solicitors, is less rigid.

Under the Supreme Court (Amendment) Act 2015, those who have been called to the Bar in England and Wales must then gain an additional certificate in Gibraltar law from the University of Gibraltar.


Before setting up a company in Gibraltar one must, for tax considerations, first consider whether or not income will be derived inside Gibraltar.

The nature of the business will also determine whether additional licensing is required, such as licences for regulated industries (e.g. finance, gaming), specific trade licences (e.g. for construction and allied trades, real estate) and/or special manufacturing and importation licences.


  • Partnership
  • Limited Liability Partnership
  • Company
  • Protected Cell Company
  • Trust
  • Foundation


A business comprised of two or more parties, who share the operation of the business, as well as the seed capital, running costs and risks of the business.

Limited Liability Partnership (LLP)

Similar to above but for one very important distinction; each partner in an LLP is insulated from liability which may result through the actions, or inactions, of any of other partners.


Companies are fully distinct legal entities which enjoy the benefits of limited liability. There are two main types, Public Limited Companies (PLC), whereby shares are available to the public, and Private Companies (Ltd), which are limited by shares or guarantees. There is no restriction on the maximum number of shareholders that Gibraltar registered private or public companies may have.

A director of a Gibraltar company is not required to be resident in Gibraltar, though residence substantiates management and control of the Gibraltar company, which is a basis upon which tax residency is determined in Gibraltar and many other jurisdictions.

Gibraltar companies may also undertake court-sanctioned cross-border mergers, schemes of arrangement, amalgamations and reconstructions.

Protected Cell Company (PCC)

Under the Protected Cell Companies Act 2001, a new form of company was introduced in Gibraltar, the PCC. PCCs allow specific assets and liabilities to be cordoned off into specific cells, which operate as part of the same core company, but are also distinct and separate from each other cell.

This type of company structure is particularly beneficial for finance and insurance companies, who may, for example, utilise different cells for different investment schemes or different insurance policies with varying degrees of risk.

In order to do so they must first become sanctioned to do so by the GFSC and pay them an annual fee of £3,000 (plus an additional £1,000 for each cell).


A trust can be set up for the purposes of asset protection, for the transfer of assets, ownership of property or for estate planning purposes.

No tax is payable on a Gibraltar trust, provided the trust does not earn income locally and/or the Beneficiary is not a Gibraltar resident. Trustees, however, can be resident in Gibraltar.

Asset Protection Trusts are particularly popular, since they offer various key benefits, including shielding a settlor’s strategic assets against future claims by creditors. These types of trusts require more disclosure, however, including registration with the GFSC and the Registrar of Dispositions.


The Private Foundations Act 2017 came into force in April 2017 allowing for the establishment of foundations in Gibraltar. The primary characteristic of a Foundation is that it exists and operates as a separate legal personality, with the ability to hold and manage property in its own name.

A foundation is established by a Founder, who then provides a permanently binding transfer of an asset, or assets, to the foundation.

A Foundation Charter and Foundation Rules are then written up detailing every aspect of the funds purpose, duties, operation and beneficiaries. A copy of the Charter must also be then supplied to Companies House, who keep a record of all foundations in Gibraltar, in order to complete the foundation’s registration process.

Foundations operate much like a company; they must keep detailed accounts and supply financial statements to Companies House. The 10% tax rate also applies to any income derived from inside Gibraltar. Similarly, any Beneficiaries who are resident in Gibraltar will also be taxed on income or assets received through the foundation.

As with a trust, a foundation can be used to protect assets and property, for example for estate planning purposes to safeguard assets against future financial uncertainty. Unlike a trust, a foundation has legal personality and can hold assets as legal and beneficial owner.


Gibraltar has become a prime jurisdiction for funds in recent years, with legislation allowing for a range of options including Private Funds and Experienced Investor Funds.

Private funds are funds offered to a restricted class of up to 50 investors. They are exempt from any licensing requirements, and must remain private for a year from the date of offer.

An Experienced Investor Fund (“EIF”) is a regulated collective investment scheme exclusively for investment by experienced investors and is established under the EIF Regulations 2012, and registered with the GFSC. Gibraltar’s EIF regime was introduced in 2005, and its popularity has helped boost the growth of Gibraltar’s fund industry.

An EIF can be established as a Gibraltar limited company, a Gibraltar unit trust, a Gibraltar limited partnership, a Gibraltar protected cell company or any other form recognised in Gibraltar (which may include foreign structures where the management and control is in Gibraltar) and which is approved by the GFSC.

Recent developments in Gibraltar’s crypto industry, meanwhile, have prompted recommendations by the Gibraltar Funds and Investment Association (GFIA), that crypto funds be managed as EIF’s.


Gibraltar currently has 27 Tax Information Exchange Agreements and enjoys full OECD, IMF and FATF “white list” status. Gibraltar has also entered into arrangements with the US in respect of FATCA and with a separate Intergovernmental Agreement in respect of the automatic exchange of tax information with the United Kingdom. Gibraltar is also fully compliant with the information disclosure obligations contained in the Mutual Assistance Directive applicable to all EU Member States.

Income Tax

Individuals based in Gibraltar pay tax on income earned from between July 1st of one year, to June 30th the following year. Gibraltar operates a PAYE system similar to the UK and therefore the onus is on employers to deduct accurate and appropriate tax and social insurance payments from their employees.

Corporate Tax

Gibraltar enjoys a corporate tax rate of just 10% on profits that accrue or derive in Gibraltar. (The exception being a specific sector of utility companies, who instead pay 20%.) A company is considered resident if its administration and operation is controlled from inside Gibraltar.

Individuals and companies pay income tax on local earnings, but not on any foreign income. Therefore a company that is resident in Gibraltar, but derives all profits from outside the jurisdiction, will not be liable to pay tax on this income.

Inheritance Tax & Estate Duty

Gibraltar does not have inheritance tax or estate duty.

Wealth Tax

Gibraltar does not have wealth tax.

Double Tax Treaties

Gibraltar does not have any double tax treaties.

Capital Gains Tax

Gibraltar does not have capital gains tax. However, in deciding whether an activity is a trade or a capital gain the Commissioner will refer to predominantly UK case law and look to the level of professional organization applied to an activity in order to determine whether such activity amounts to a trade or a capital gain.

Stamp Duty

There is no stamp duty payable on the transfer of shares in a Gibraltar company, unless that Gibraltar company owns real property situated in Gibraltar.

Stamp duty is only payable in respect of the transfer of real property situated in Gibraltar and, in respect of the creation and increase of share capital. Stamp duty in respect of the latter is fixed at £10 regardless of the amount of share capital created or increased. This provides great flexibility in creating large authorised and issued share capital structures for Gibraltar registered entities.

Dividend Receipts

Income tax is not charged on dividends received by a company. Dividends are taxable in the hands of individuals who are ordinarily resident in Gibraltar unless the dividend arises from companies quoted on a recognised stock exchange, in which case this is not taxable.

Withholding Tax

There is no withholding tax on dividends, royalties or interest in Gibraltar.


Loan interest is only taxable at the rate of 10% to the extent that it is received or receivable by a Gibraltar registered company from another company and exceeds £100,000 per annum or, constitutes a trading receipt.

Interest income paid by banks, building societies, or other financial services institutions is exempt from income tax in Gibraltar.

Online Gaming Tax

Online Gaming operators (e.g. online casinos and bookmakers) based in Gibraltar are also liable to a 1% tax on income up to a maximum of £425,000.


Gibraltar affords special status, known as Category 2 status, to individuals whose net worth exceeds £2,000,000. Only the first £80,000 of their assessable income is taxable in Gibraltar subject to a minimum tax payable of £22,000 and a maximum of £29,800.

This status is based on strict criteria; Category 2 individuals cannot ordinarily engage in a trade, business or employment in Gibraltar. Such individuals must have a minimum net worth of £2 million and must purchase a qualifying residential property in Gibraltar.

There is, however, no requirement for Category 2 individuals to spend any minimum amount of time residing in Gibraltar, though they are still issued a Gibraltar residency card.


Gibraltar’s banking industry is extremely business-friendly and enjoys a positive reputation globally. Part of maintaining this reputation involves compliance with international laws, including anti-money laundering legislation. Gibraltar therefore banks perform rigorous due diligence and KYC (Know Your Customer) checks, which can be lengthy at times.

As this can be an extensive process it is advisable to arrange a meeting sooner, rather than later, in order to get the proverbial wheels in motion.

Gibraltar’s forward-thinking approach to crypto has been mirrored by its banking industry; at the time of writing both Turicum Private Bank and Gibraltar International Bank have announced their readiness to provide banking services to crypto businesses and individuals. It is expected that more banks will soon follow suit.


Gibraltar boasts an extremely efficient and modern telecommunications network, with multiple private operators offering high speed connectivity, including fixed fibre broadband and 3G and 4G mobile connectivity. Gibraltar’s country code is +350 and its domain extension is .gi.

In contrast with other British territories, Gibraltar drives on the right. It encapsulates approximately 29 kilometres (18 miles) of roads, including tunnels which go through the Rock itself. Its main thoroughfare is named Winston Churchill Avenue and connects Gibraltar with Spain.

Gibraltar has its own international airport (GIB) with regular UK commercial flights to London, Manchester and Bristol, plus additional flights to Casablanca via Tangier with Royal Air Maroc. The airport also caters to charter/private flights, as well as cargo planes and military aviation.

Airport Distance to Gibraltar Estimated  drive time
Malaga (AGP) 128.5 km / 79.8 miles 1 h 35 min
Seville (SVQ) 202.4 km /125.7 miles 2 h 9 min
Jerez (XRY) 119.7 km / 74.3 miles 1 h 20 min


[Source: Google Maps]

The Port of Gibraltar, meanwhile, caters for a wide variety of vessels including cruise liners, cargo ships and British naval craft.

Visitors can choose from a range of quality hotels with large conferencing facilities, including the Sunborn, a five star “yacht hotel”, built from a decommissioned luxury cruise liner located in Gibraltar’s lively Ocean Village district.

Gibraltar is well equipped to host its roster of high-profile conferences, festivals and events, including the Gibraltar International FinTech Forum (GibFin) and the KPMG eSummit. Gibraltar’s Victoria Stadium, meanwhile, has a capacity of 2,000 and hosts regular sporting and entertainment events, including MTV’s “Gibraltar Calling” Music Festival.

A short distance from the stadium is Gibraltar’s World Trade Center, which officially opened on 15th February 2017. This state-of-the-art complex, overlooking the Straits of Gibraltar, combines innovative design with rapid connectivity and hosts some of the world’s most successful companies including Apple, Vodafone and Royal Dutch Shell.

In 2015 the Gibraltar Stock Exchange began trading and the University of Gibraltar had its official opening.


Gibraltar’s economy is predominantly service-based with the majority of industrial activity engaged in shipping or allied industries. The limited space and unique geography of Gibraltar means little to no agricultural activity or heavy manufacturing, therefore it imports the bulk of its produce, as well as machinery and equipment, from abroad.

Tourism and retail are two significant contributors to Gibraltar’s economy, particularly where both areas intersect, with a steady stream of tourists year-round shopping for VAT-free bargains on jewellery, electronics, fashion and cosmetics.

The industries listed below represent key sectors of Gibraltar’s economy. Shipping, finance and insurance, property, and gaming represent the traditional “bread and butter” industries, while fintech is where the jurisdiction expects to see considerable growth well into the future.


Gibraltar’s position as a nexus point of global trade dates back to classical times. The Rock itself was known to ancient mariners as one of the “Pillars of Hercules”, the other being Jebel Musa mountain in Morocco.

Today an estimated 60,000 vessels travel through the Straits of Gibraltar each year, according to statistics from the Gibraltar Port Authority. The Port of Gibraltar is the largest bunkering port in the entire Mediterranean Sea.

Gibraltar serves a wide range of ancillary maritime industries including ship repair and conversion, and leads on ship arrests, thanks to an efficient set of maritime laws based on English Admiralty law.

Gibraltar is also a popular jurisdiction for ship registration. Ships registered in Gibraltar are designated as British, and therefore fly a local variant of the Red Ensign flag. They are also subject to an annual tonnage tax.


Gibraltar’s business-friendly environment, prudent regulation and unblemished global standing has proven particularly inviting to the finance and insurance industry. As a result the jurisdiction hosts some of the most prominent industry names including PwC, Deloitte, KPMG, Lloyds, Barclays and Royal Bank of Scotland.

UK-facing companies comprise the bulk of these; one interesting statistic to note is that one in five UK cars are insured with Gibraltar-based companies.

Finance and insurance companies are regulated by the GFSC; to operate in Gibraltar companies (and indeed certain individuals) must be registered with the GFSC and possess a relevant licence.

Banks and investment firms must also submit to an Independent Capital Adequacy Assessment Process (ICAAP) review and acquiesce to the FSC’s ruling on capital.


Property in Gibraltar, both residential and commercial, has always been in high demand and therefore represents a very smart investment. A regular stream of foreign capital, strong economic growth and the steady influx of people that entails, equals rising property values and rapid sale times. Plus, since Gibraltar law is based on English Common Law, red tape is at a bare minimum – especially when compared with the bureaucratic nightmares for which other Mediterranean countries are notorious.

The sale or transfer (except between spouses) of property within Gibraltar is subject to stamp duty; the amount is variable and is based on the value of the property and sale price.


Gibraltar has been instrumental in the growth of online gaming and is a key jurisdiction serving the industry. Under the Gambling Act 2005, all gaming operators in Gibraltar require a special gaming licence. Thanks to Gibraltar’s sterling reputation, Gibraltar gaming licences are highly coveted and only ever granted to top tier operators.

The list of Gibraltar-based gaming companies includes 888, bet365, William Hill, Betfair, bwin, Gala Coral and Ladbrokes. Additionally, Gibraltar also plays host to numerous gaming software providers including Playtech, Microgaming and IGT.

Gaming operators are regulated by the Gibraltar Gambling Commissioner with strict guidelines on advertising, data protection, accountancy and payments. There is also a strong regulatory emphasis on responsible gambling and anti money laundering legislation.


On January 1st, 2018, Gibraltar made headlines globally when it introduced its ground-breaking Distributed Ledger Technology (DLT) Regulations. These regulations, based on a set of nine key principles, strike the perfect balance between regulatory caution and the need for flexibility so as not to stifle innovation in such a rapidly-advancing field.

In March 2018, the government released its Token Regulation Policy Document with clear definitions on token types and their utility, and the myriad responsibilities of token issuance.

The move was welcomed by investors, widely applauded by others within the crypto community and resulted in a surge of licence applications to the Gibraltar government. As with Gibraltar’s gaming industry, however, only the most trusted, top-tier applicants will be granted a coveted operating licence.


A solid global reputation, strong regulation, competitive taxation, world class infrastructure, consistent economic growth and an efficient, stable and business friendly government – just some of the reasons why Gibraltar continues to attract global investors and entrepreneurs looking to establish a competitive business presence.

While all indicators point to yet another year of strong economic growth, one cannot mention Gibraltar’s future prospects without first addressing the proverbial elephant in the room.

The 95.9% of Gibraltarian voters who rejected Brexit understood all too well the potential existential threat that it posed. Though it’s fair to say that the challenges of Brexit are not specific to Gibraltar, but rather impact all of Europe, and, indeed global trade as a whole.

Brexit also adds an additional dimension to the perennial issue of relations with Spain, whose government continues to claim sovereignty over the territory. More recently, however, Madrid’s tone has been more conciliatory, showing a willingness to cooperate on shared threats to prosperity.

Indeed there is a strong case for cooperation; a total of 11,069 frontier workers commute back and forth over the border, according to statistics from the Gibraltar government. Gibraltar has a small population, and therefore needs to import labour. Spain, by contrast has a much higher unemployment rate and Andalucía, which borders Gibraltar, is its worst affected region.

Cross-border discussions are also underway to find a mutually beneficial solution that safeguards jobs in the insurance industry. The proposal, which featured in Bloomberg, would see Gibraltar-based insurers opening offices in the neighbouring La Linea De La Concepcion, which would, in turn, provide additional employment and investment to the Spanish border town. Similar discussions are underway concerning Gibraltar and Malta-based insurers to find a mutually beneficial solution to the issue of passporting services post-Brexit.

The British government, meanwhile, has given assurances that the free trade relationship between Gibraltar and the UK will not change. As a member of the Commonwealth of Nations, Gibraltar also belongs to a close, international community which, in 2016, saw intra-member trade worth $560 billion.

Whatever the outcome, Gibraltar has a proven track record of maintaining stability in the face of crises spanning millennia. It has endured fourteen sieges, Barbary pirate raids, Napoleonic wars, Axis aggression and a 16 year border blockade by the Franco regime.

Brexit fears have not slowed foreign investment, which grew in 2017 and Gibraltar’s impressive advances in the blockchain sector continues to make headlines and has resulted in a massive surge in interest in the jurisdiction.

If all their combined conversations could be summed up in one word, that would be “opportunity”.


Of course there is so much more to Gibraltar than just business opportunities and low taxes.

Whether entertaining clients, or just looking to relax after a long day, Gibraltar offers plenty of entertainment and diversion, including pubs, bars, clubs and casinos, and plenty of fine dining.

Gibraltar is also the perfect place to raise a family, it’s safe, friendly and immaculate with plenty to entertain the little ones too. Gibraltar’s high quality schools have curriculums based on those in Britain, though interestingly, secondary school grades are consistently higher than the UK average. This can be attributed to the low student-to-teacher ratios in Gibraltar classrooms and the overall standard of schools in the country. Gibraltar also has its own University of Gibraltar, which opened in 2015.


  • Stable, business-friendly and non-bureaucratic government with legal system based on English Common Law and Pound Sterling as currency.
  • Highly attractive tax regime with a 10% corporate tax rate, no inheritance, wealth, capital gains or withholding taxes and stamp duty levied only on Gibraltar-based property sales.
  • Consistent economic growth, scores high across key indicators with GDP per capital of £56,612 and an unemployment rate of just 1%.
  • Solid global reputation, strong regulation and full compliance with key European and international treaties.
  • Modern, dependable infrastructure built to British standards plus high speed mobile and fibre connectivity. Airport, port and marina facilities.
  • Home to some of the world’s biggest brands, market leader in insurance, finance and online gaming, blockchain/crypto industry frontrunner.
  • English speaking country with a Mediterranean climate and lifestyle, a vibrant culture and community and thriving property market plus ease of residency and added tax incentives for High Net Worth Individuals.


Hassans, the biggest law firm in Gibraltar and trusted since 1939, is a Legal 500 EMEA Top Tier Firm with a broad range of expertise including corporate & commercial law, M&A, litigation, property law, trust and company management, tax law and fintech. To talk to us, please contact us here.