Gibraltar’s location at the mouth of the Mediterranean makes it the geographical linchpin between two great seas and continents. This strategic location has long been the most vital ingredient of its economic and social history. A good deal of its previous significance in military terms remains, but the commercial potential of its location is now becoming increasingly important. Furthermore, as a peninsula attached to southern Spain Gibraltar has benefited from and complemented the enormous growth and revival witnessed in Andalucia and the Costa del Sol over the last decade.
Gibraltar is a United Kingdom Overseas Territory with a highly developed system of self-government. Essentially, the locally elected parliament, known as the House of Assembly, is responsible for all domestic matters affecting Gibraltar. This includes issues relating to financial services, taxation, company law and commerce generally. The UK retains responsibility in three specific areas, namely, foreign
