Gibraltar is a peninsula of approximately three square miles connected to the southern tip of Spain. It is one of the legendary Pillars of Hercules, poised between the continents of Europe and Africa guarding the gateway to the Mediterranean.

Despite being only 11 km from Morocco, the Rock's unique location on the Spanish mainland allows its six million visitors a year easy access to the Spanish and Portuguese tourist resorts of the Costa del Sol and Algarve. For those with an interest in golf Gibraltar provides an ideal set off point being within twenty five minutes of several of Europe's major golf courses including the venue for the 1997 Ryder Cup "Valderama".

Gibraltar has been a Crown Colony of the United Kingdom since 1713, enjoys political stability, and its sovereignty is assured by the Gibraltar Constitution in which Britain undertakes never to enter into arrangements which would place the people of Gibraltar under the sovereignty of another state against their freely and democratically expressed wishes. Defence, foreign policy and internal security remain the responsibility of the United Kingdom whose appointed representative of the Crown is the Governor. In other matters however Gibraltar is self-governing. Laws known as Ordinances are passed in Gibraltar's House of Assembly by a freely and democratically elected Assembly.

Gibraltar enacts laws independently of the United Kingdom and maintains an independent tax status (a freedom which has greatly helped its development as a financial centre). Its legal system is nevertheless based on British common law and statutes. Lawyers and accountants are UK trained and qualified. The ultimate Court of Appeal is the Privy Council (in effect the UK House of Lords).

Gibraltar is an integral part of the European Union, its membership being assured by virtue of being a European Territory whose external relations are the responsibility of the United Kingdom. This enables Gibraltar to take advantage of the EU directives relating to banking, insurance and financial services. Article 28 of the 1972 UK Accession Treaty does however give Gibraltar a special status in that the common customs tariff, the common agricultural policy and the harmonisation of turnover taxes (in particular Value Added Tax) do not apply.

In May 1996 the Gibraltar Social Democrats swept into power on a mandate of promotion of the commercial and financial sectors of the Gibraltar economy. As such the Government of Gibraltar is committed to taking full advantage of Gibraltar's EU status and the development of Gibraltar as an international finance centre within Europe.

Gibraltar is "user friendly" and free of bureaucratic delays. Companies can be incorporated within a matter of days, "off the shelf" companies are readily available, documents can be notarised and legalised within Gibraltar itself, and costs are extremely competitive when compared with similar jurisdictions.

Gibraltar was the first European jurisdiction to offer the exempt company which allows a company to be controlled and managed from Gibraltar while still able to enjoy preferential tax status.

Gibraltar enjoys sophisticated communications; boasting satellite based digital telecommunications system and daily scheduled airline services with the UK. Alternatively Malaga on the Costa del Sol just an hour away from Gibraltar provides visitors with an international airport within easy access of the Rock.

The Pound sterling is the official currency with Gibraltar notes issued by Government guaranteed by the Bank of England. There are no exchange controls and no capital gains taxes. Gibraltar is probably the most cost-effective jurisdiction within the EU.