Gibraltar: a nearby destination for international Family Office
Gibraltar, especially in the context of Brexit, is set out to be an important player in the field of Family Offices. Its tax regime is not the only advantage; its regulatory and banking framework withstand the tests of the OECD and the European Bank and regarding Brexit, having signed a number of treaties to exchange tax information with the main EU countries as stated in the list of world.tax
The Family Office (FO) is a type of company that manages the assets of a family or group of families, a highly developed sector in countries such as Luxembourg, Switzerland and France and which is rising in countries such as Spain due to the significantly increased international mobility of investors and their families.
The growing need for transparency and fiscal responsibility and the increasingly strict regulatory frameworks arising from the very nature of the business of the Family Offices makes it essential to have highly qualified professionals internationally.
Within the European Union, along with Malta, Gibraltar is one of the financial centres that, complying with all EU regulations and the OECD, provides regulation and legal security sufficiently guaranteed by the United Kingdom.
Although Spain still considers Gibraltar a tax haven for political reasons, this does not affect the relations of Gibraltar with any other country worldwide and it is possible to organize structures for wealth management with high efficiency, even from Spain, considering obviously the appropriate communications with the Spanish Tax Office (AEAT)
It is also important to note that Gibraltar participates in international events related to the field of Family Offices through the Gibraltar Financial Center. This British territory was one of the protagonists (both as speaker and exhibitor) of the 2015 edition of Congress on Family Wealth Management, an important event that enables companies from across Europe to make themselves known. The aim of the Gibraltarian authorities was, in this sense, to position the Rock as an important centre for onshore financial services.
No doubt Gibraltar is a business centre that must be taken into account and not only for its excellent legal, fiscal and financial framework but for being a jurisdiction that has excellent professionals at all levels for managing Family Offices.
Working with Anglo-American jurisdictions sometimes offers significant challenges to Spanish lawyers. At Del Canto Chambers we have an expert team in English and Spanish Law with extensive experience working in Family Offices. Contact firstname.lastname@example.org in London if you need more information.
Del Canto Chambers’ Editorial Board
Sin duda Gibraltar es un centro de negocios que hay que tener en cuenta y no sólo por sus ya conocidas ventajas fiscales sin como plataforma para gestionar todo el volumen de activos que una familia necesita tener al día gracias al trabajo de los profesionales de las Family Offices.
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