Recruitment Gibraltar - Recruitment Gibraltar

With a banking sector that has more than four and half billion pounds sterling in assets, Gibraltar has more than twenty different banks to choose from.

The banks fall into three main categories: Licensed where approximately ten of the banks are licensed by Gibraltar's Financial Services Commission which means they are regulated and supervised by the Government there. Authorised means they are covered by the European Economic Community but not licensed by the FSC. They are regulated by the laws in their country of origin which is covered by European legislation but the Gibraltar Government has limited responsibility. Overseas represent their home offices and can only promote services from there. Current examples of this type of bank are ones from Jersey, the Isle of Man and Morocco. They are under stricter controls from the FSC than those covered by the EEA.

The attraction of banking in Gibraltar is that there are no exchange controls with restrictions on currency conversion or on how much money you can transfer into or out of your account.

If you have more than one hundred thousand euros to invest it is advisable to go the route of private banking of "wealth management". Because Gibraltar is an offshore area it can offer attractive tax conditions to investors and it is a thriving industry here with many expatriate residents in Spain availing themselves of these services.

A private banker will be able to advise you on the best way to achieve financial stability and capital growth. This is a chargeable service and fees will be in accordance with the type of relationship you form with your advisor. All dealings are treated with the utmost confidentiality, but with the current international regulations tightening up on money laundering, drug trafficking and terrorism it is sometimes necessary to disclose information if criminal tendencies are likely.