According to Prime Minister Fabian Picardo, Gibraltar meets now all the conditions to become one of the largest IT outsourcing networks in the world. Based on the country’s infrastructure and regulations for the e-gaming sector, Gibraltar has started to attract many investors and jobseekers in the IT domain, as well.
Considering the companies’ needs to have a close-to-home location, an educated and multilingual workforce, Europe has become one of the greatest outsourcing locations for companies all over the world. Located in Europe and having a special status within the European Union, Gibraltar is among the most sought outsourcing locations. With a modern legislation encompassing both EU directives and the UK legislation, tax incentives for companies, an educated labor force and a good infrastructure, Gibraltar accomplishes now all the requirements a company may have.
If until recently Gibraltar wasn’t even on the map of IT outsourcing hubs, during the last few years, many companies have started to look towards the small territory as an alternative. Gibraltar has already created a suitable environment for companies in the financial services sector, shipping and e-gaming companies. Gibraltar provides an attractive taxation system for companies and sole traders and, in this case, the small size and geographical position facilitate the set-up procedures for companies.
Gibraltar has enabled an one-stop solution for IT services providers consisting in meetings with the local authorities, visiting premises and making a decision the same day, thus reducing considerably the logistics issues of setting up a company in Gibraltar.
Gibraltar’s labor force is one of the youngest in Europe, that is what makes the small country very attractive for IT companies all over the world. However, Gibraltar has a small population which determined officials to create policies to attract workers. The authorities have, so far, promoted the country as a destination for skilled and trained-abroad labor force, but recently started working on a new employment legislation to favor both employers and employees.
The territory is now undergoing significant changes in order to attract both investors and young workers. For available incentives, you may contact our specialists in company formation in Gibraltar.