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| INVESTORS OFFSHORE -
NEWS |
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Gibraltar Voted Best Offshore Financial Centre,
by Jason Gorringe, Tax-News.com, London 17 June 2005
Gibraltar has been voted as this year's winner of the Offshore Finance Awards
by the readership of UK-based finance magazine Investment International.
The surprise result emerged after the magazine carried out a mailing to some
of its readers and placed a form on its website inviting responses.
"Gibraltar is a surprise winner in the international finance centre category,"
the magazine observed.
"The rival offshore centres of the Channel islands and Isle of Man are
better known for deposit taking while jurisdictions such as the Cayman islands
and the Bahamas are known for their corporate structures."
However, the Rock appears to have become increasingly popular with British expats
and investors, with one reader declaring that: "It's a great place. I do
a lot of business there."
While the jurisdiction's economy is not wholly dependent on financial services,
the industry constitutes about one-third of its economy.
The news was greeted with enthusiasm by Gibraltar's government.
"This is yet another well deserved accolade for the status and reputation
that Gibraltar now enjoys in the field of international financial services,"
a spokesman commented.
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