In the last few years, Gibraltar has transformed online gaming into one of its leading industries and now the sector is starting to render its first positive results. The Rock has become home to some of the world’s largest companies in the sector. Our company formation agents in Gibraltar can help foreign investors set up an online gambling company here.
Gibraltar has become a much sought destination by gambling companies all over the world, making the investments and regulatory transformations enabled by the Government worth. The Rock is currently home to 4 of the largest international players in the online gambling sector which have created nearly 3,000 jobs in the last few years. However, the Rock is also home to over 30 smaller companies in the gaming sector.
The industry employs more than 15% of the territory’s workforce at the moment and generates a significant income to Gibraltar’s Gross Domestic Product. The industry has not brought benefits only to Gibraltar, but also to its neighboring country, Spain where most of the employees live, especially the small La Linea and Campo de Gibraltar neighborhoods.
At the end of 2014, online gaming activities, which were until then imposed no taxes, became liable for taxation. However, this aspect did not scare foreign online gambling companies away from Gibraltar. The main reason not to leave the small territory was the friendly legal framework which still allows for several benefits. Among these, companies have reported the cheap and yet well-prepared labor force which is perfectly combined with highly-skilled professionals and the corporate environment. Other connected industries, such as IT, where they can have their computer programs made enabled foreign investors from across the sea choose Gibraltar over neighboring countries.
Considering Gibraltar only allows companies with good reputation to operate in the country, has raised both customers and other operators’ confidence in the Rock’s ability of creating a healthy competition among players.
If you are interested in incentives granted by the Government to the online gaming industry, do not hesitate to contact our representatives in Gibraltar for more information.