THE GIBRALTAR FINANCIAL SERVICES HANDBOOK

NEW EDITION EVERY YEAR

Editor: Or D. M.Sloma

PC Box 555, Gibraltar www.gfsh.gi Tel & Fax (350)79385.

Information on the Rock's off-shore advantages in Taxation, Law, Banking, Company & Trust Formation, Insurance, Business, Property and Financial Services. Comprehensive A-Z Index for the visiting professional or businessman and the discerning investor.

Detailed appendices on relevant Gibraltar Government legislation.

240 pages providing a practical guide to doing business and working in Gibraltar.

^tax or death duties has not been challenged, he adds.

As well as tax incentives for those with specialist skills seen as beneficial to Gibraltar's future or business development, there are those available to HNWIs who wish to become tax-resident here — either "to obtain the benefits of various facets of its tax structure,or simply to enjoy a life in the sun."

White rightly makes the point that when one attracts the wealth of investors one also becomes re sponsible for its safety.And though a truism, it is worth repeating that "there is no great profit to be found in entrusting wealth to a tax effi cient jurisdiction only to find that the controls in the jurisdiction are so lax that the money disappears without trace."

Some offshore jurisdictions may risk falling into that category... fortunately Gibraltar is not among them and White points out that the Government has tackled those concerns"head on"by adopting fi nancial regulation and supervisory legislation of the same standard as that of the UK — the most stringent in Europe. Anti-money laundering measures are at a similar high level, and the Government's intent has been to ensure not only that inves tors' money is safe but that it is also untainted by "dirty" money.

"The Finance Centre [sic] has taken the regulatory and supervi sion measures to heart," he writes. "The legislation which wasinitially viewed by practitioners with trepi dation is now seen as an ally which gives investors an open guarantee of the high standards applied in the Finance Centre."

This has certainly contributed to the sustained growth of our finan cial sector which has been accom panied by what White describes as "the spectacular growth in such areas of the economy as toursim, banking and the provision of ser vice centres for the main on-line gaming concerns."

He sees no complacency on the part of either the financial sector or the government both of whom "are constantly reviewing their position to ensure that growth continues."

Given the range depth and scope of the guide, the finance sector owes a debt of gratitude both to White and Hassans for a volume that provides:

•a clear insight into how the law in Gibraltar operates to benefit both cor porate and individual tax planning.

•invaluable information and advice for high net worth individuals seek ing effective tax planning.

• key financial information for indi viduals and organisations planning to relocate or set up business in Gibraltar, and

•the latest corporate governance information — including EU legisla tion.

It is a volume that will be used extensively, not only within the finance sector and local business community, but should also be a useful "tool" in selling Gibraltar to overseas investors.