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Over the last couple of months I have been considering Gibraltar’s place in today’s offshore – or "international" – finance centre pecking order.

Regular readers may remember that in past articles, I have written about several aspects of the insurance industry.

Gibraltar, a British overseas territory in the southernmost tip of Spain, situated between two continents at the entrance to the Mediterranean Sea, benefits from a constantly growing marine sector.

It is gratifying when people say that they read my articles and last month’s piece about the "offshore" industry appears to have generated some interest.

"Gibraltar is an attractive location for businesses wanting to take advantage of the opportunities afforded by a European jurisdiction that is well regulated and tax competitive. It has built up a reputation and lifestyle proposition for both individuals and corporate entities wishing to enjoy the benefits of Mediterranean living."

As I get older, I confess that, on occasion, I hanker after the days when I used to work in a bank.

The development of Gibraltar's offshore trust business has been linked with the growth in its importance as a banking centre for private clients.

However, the trend has been for an increasing number of countries worldwide to introduce procedures for the Re-Domiciliation based on reciprocity. As a result, not all of the territories falling into the categories listed above will, in practice, accept the Re-Domiciliation of their companies to Gibraltar without there being a reciprocal measure entered on the Gibraltar legislation.