The financial industry is one of the leading economic sectors of Gibraltar which is why the quick development of the financial technology branch came as no surprise to anyone. Also known as fintech, this sector is close to being regulated by the Financial Services Commission in Gibraltar (FSC) which is currently working on the legislation related to the establishment of certain types companies operating in the fintech sector. However, the FSC has already issued an e-money license to a foreign company creating cryptocurrency through blockchain technology in Gibraltar. Fintech startups have become quite popular in Gibraltar in the last few years.
Foreign investors who want to set up fintech companies in the Rock can obtain information on the legislation related to the financial industry from our Gibraltar company formation consultants.
Even it not entirely regulated, the fintech sector is a part of the financial industry in Gibraltar, therefore there are companies which can offer fintech solutions. Among these, banks, investment funds and insurance companies are just a few of the businesses which can provide innovative services to their customers. From robo-advisory services to electronic payment solutions, a Gibraltar fintech company can extend the services offered until now by integrating new ones in its existing portfolio.
IT companies can also create software which brings innovation at the doorsteps of the financial company.
Foreign and local investors must first incorporate a company with the Companies House before starting doing business in the fintech industry in Gibraltar. The process is quite simple and can be completed by our company registration agents in Gibraltar.
With respect to the licenses available for fintech companies, financial institutions must apply for one of the permits issued by the Financial Services Commission, while companies in other industries, such as IT, are not required to obtain the approval of the FSC.
If you want to set up a fintech business in Gibraltar and need assistance with the company incorporation procedure, please feel free to contact us.