Bet on the Rock
Is it any wonder that Gibraltar is a preferred Tax Haven for On-line Gambling companies? Now here's a jurisdiction with a tradition for providing services to whomever rowed ashore. Legend has it that this was the first tax haven, as being a massive ship yard and major port to the British Naval fleet, it was customary for merchant ships returning from India via the Suez Canal laden with gold and gems made from selling opium to the Chinese, to off-load the assets with bankers in Gibraltar before returning to London for inspection by the King's tax man. Hence, the entire concept of "offshore banking" was born in Gibraltar.
Modern day Gibraltar offers the perfect characteristics for Offshore e-Commerce, such as a multi-lingual labour force, comprised of both local Gibraltarians (who are fluent in English and Spanish) and of other nationals working in Gibraltar who have brought an extended range of linguistic skills to the territory.
A good example is Casino-on-Net (aka 888.com) one of the largest and oldest on-line gaming companies boast a staff of some 400 employees with customer support personel working 24/7 to handle incoming phone calls from dozens of counties, in dozens of languages. Gibraltar has a digital telephone exchange supported by a fibre optic and copper infrastructure. The telephone operator, Gibtelecom, also operates a GSM network so business travelors can remain in contact by global cell phone and some local hotels provide wifi hotspots.
An excellent legal framework based on English common law. It is expected that specific legislation to facilitate on-line gambling will be introduced in the near future. The growth in the I-Gaming sector has prompted Gibraltar to examine the industry and made commitments to remain in the fore-front in this competitive service sector. The Gibraltar Government state that economy grew in 2004/2005 by 7% to a GDP of 599.18 million pounds. Based on statistics in the 2006 surveys, the Government statisticians estimate it has grown by 8.5% in 2005/6 and by 10.8% in 2006/7 and that the GDP is probably now around 730 million. Inflation was running at 2.6% in 2006 and predicted to be 2% to 3% in 2007.
With so many choices for world class banking in Gibraltar, favorable laws to I-Gaming, abundant skilled labour force and excellent telecom infrastructure, it's good odds that Gibraltar will remain one of the leading jurisdictions for offshore on-line gambling industry.
A good example is Casino-on-Net (aka 888.com) one of the largest and oldest on-line gaming companies boast a staff of some 400 employees with customer support personel working 24/7 to handle incoming phone calls from dozens of counties, in dozens of languages. Gibraltar has a digital telephone exchange supported by a fibre optic and copper infrastructure. The telephone operator, Gibtelecom, also operates a GSM network so business travelors can remain in contact by global cell phone and some local hotels provide wifi hotspots.
An excellent legal framework based on English common law. It is expected that specific legislation to facilitate on-line gambling will be introduced in the near future. The growth in the I-Gaming sector has prompted Gibraltar to examine the industry and made commitments to remain in the fore-front in this competitive service sector. The Gibraltar Government state that economy grew in 2004/2005 by 7% to a GDP of 599.18 million pounds. Based on statistics in the 2006 surveys, the Government statisticians estimate it has grown by 8.5% in 2005/6 and by 10.8% in 2006/7 and that the GDP is probably now around 730 million. Inflation was running at 2.6% in 2006 and predicted to be 2% to 3% in 2007.
Speaking at the 2007 budget session, Peter Caruana, the Chief Minister said "The scale of Gibraltar's economic success makes it one of the most affluent communities in the entire world."
With so many choices for world class banking in Gibraltar, favorable laws to I-Gaming, abundant skilled labour force and excellent telecom infrastructure, it's good odds that Gibraltar will remain one of the leading jurisdictions for offshore on-line gambling industry.
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