James Lasry, partner and head of the Funds Team at Hassans International, as well as chairman of the Gibraltar Funds and Investments Association, believes the AIFMD gives the domicile an advantage.
The Gibraltar Funds & Investments Association (GFIA) is to take on two new senior executives based in London and Gibraltar respectively to assist in promoting the industry.
An arduous 15-year journey from ‘tax haven’ to international financial centre is complete, according to those responsible for regulating and marketing the industry based in Gibraltar.
Gibraltar’s fund industry is being heavily promoted by the government’s Finance Centre, keen to ensure that the jurisdiction does not lose out on any market share come the implementation of the EU’s Alternative Investment Fund Managers Directive (AIFMD) this summer.
Fabian Picardo, chief minister of Gibralatar, has provided an update on the state of the nation, and his government’s commitment to signing up to tax codes that combat tax evasion and money laundering.
Gilbert Licudi, minister for Financial Services in Gibraltar, has added his voice to those from across the asset management and professional services sectors in the jurisdiction arguing that it has significant opportunity in the roll out of new European regulations such as the AIFMD.
Jyske Bank has celebrated 25 years of operations in Gibraltar, as part of its international banking operations.
Regulatory arbitrage is working in reverse in markets such as the Channel Islands, Gibraltar and Malta, as authorities seek to create a more competitive environment away from traditional centres of secrecy such as Switzerland.
Changes to the experienced investor fund rules in Gibraltar could trigger interest in the state as a location for hedge fund managers and companies, attracting redomiciles and start-up funds.