Gibraltar Jurisdiction - Keys to Business Success

The Independent Dependency

Among a number of world's licensing jurisdictions, Gibraltar has recently gained much popularity, and is nowadays recognized to be a respectable member of the EU, which is absolutely independent from the UK, regarding the region's taxation policy, for instance, although it still remains the Crown's Dependency.

First Achievements

Having started its history on the online gambling market back in 1998, Gibraltar jurisdiction hasn't been quite successful in regulating the internet sites' activities, until the Gambling Act 2005 was introduced, according to which the Gambling Commissioner was pointed out as the major regulatory body of the region. This document also established brand-new gambling standards, which the applicants for specific licenses were to follow, including sufficient levels of security and liability, so that the players could know from the very start that any site, having got the Gibraltar license, belonged to safe online casinos.

Benefit Policy

As for the current situation in online gambling industry, Gibraltar jurisdiction has maintained its rating-position and is now offering certain benefits to the casinos, applying for its licenses. These are mainly considered as the following:

  • The absence of start-up license fee.

    Although, the licensed online casinos are to pay an annual fee, which value is approximately £2,000, they don't have to pay money to get the initial license.

  • No-tax status is provided to non-resident online gambling sites.

    Whereas the residents of Gibraltar jurisdiction generally pay the 1% gaming tax, with a maximum value of £425,000 each year, the casinos, belonging to non-residents, face amazing privileges, having no obligation to pay this tax.

    This is definitely one of the main reasons, why Gibraltar is now considered one of the most developed offshore centres of the world.

What's The Deal About?

Apparently, it is much due to Gibraltar jurisdiction's taxation policy and its authorities' general outlooks, concerning the basic principles, of how business issues should be dealt with, which has converted the region from the UK's completely dependable appendix to an absolutely self-sustained country, which, along with Malta jurisdiction, for example, now provides a great variety of opportunities to online casinos, willing to get the gambling license. In addition to that, the region has managed to reach unbelievable success regarding the levels of safety and liability of the gambling sites, the activities of which it currently regulates.

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