Gibraltar Ready to Sign a Free Trade Deal with the EU

Updated on Tuesday 17th January 2017

Gibraltar-ready-to-sign-free-trade-deal-with-the-EUThe access to the European single market is one of the top priorities of the Gibraltar government which is now seeking to find a way to remain in the EU after Brexit. The central authorities are currently trying to sign a deal with the EU which would grant them access to the community and which doesn’t impede cross-border employees from Spain to work in Gibraltar without any problem. Considering Gibraltar continues to remain one of the best economies in Europe, according to several statistics, if you want to open a company here, our company formation agents in Gibraltar can assist you.

Gibraltar is not entirely a British territory

Gibraltar is not the only country seeking to have a separate deal with the EU, however it is in a rather special position as a British territory. Even so, Gibraltar does not belong to the UK entirely given its separate status and the fact that it was able to maintain its own tax regulations and to conclude distinct free trade agreements, including a double tax treaty with the UK. Moreover, Gibraltar is not part of the European Customs Union, meaning it can move goods free of any tariff. These are just a few of the reasons why a deal with the EU would work in the case of Gibraltar and would maintain the soundness of the financial industry in the Rock. Adding that to the relation Gibraltar has with the other 27 countries in the EU and which is opposite to UK’s relation, analysts say the Rock is entitled to seek such an agreement.

Gibraltar is prepared to face Brexit

Considering it’s been a while since the referendum, Gibraltar already started taking measures which would not threat its economy, and the best proof are all EU reports which show Gibraltar as one of the best performing economies in Europe. Industries like the financial one, online gaming, retail and tourism will most likely help the country to pull through any difficult times that it may come across. Moreover, the UK is also interested in signing a deal with Gibraltar and the EU separately in order to preserve its good relations within the community. Spain has also announced its intentions of maintaining its borders open for Spanish employees commuting to Gibraltar.

If you are interested in opening a company in Rock and need assistance, do not hesitate to contact our company registration consultants in Gibraltar.