Saturday, 2 August 2014
Last updated 14 hours ago
Apr 3 2013 | 10:10am ET
Gibraltar hopes to join the ranks of Ireland, Luxembourg and the Cayman Islands as a major hedge-fund center, and is taking its pitch on the road.
Representatives of Gibraltar's government visited a hedge fund conference in Rio de Janeiro last month to pitch its stability, low taxes and access to the European Union to Latin American hedge funds and private equity firms, The New York Times reports. This month, Minister of Financial Services Gilbert Licudi heads to the world's largest hedge fund center, New York, to meet with several hedge funds that have already expressed interest in the British self-governing territory, which sits on a small peninsula at the mouth of the Mediterranean Sea south of Spain.
"It is part of the strategy that this government has to go beyond our traditional jurisdictions like the U.K. and Switzerland and to extend to emerging economies that are doing well, like Brazil," Licudi said.
In addition to its traditional offshore inducements, Gibraltar also trumpets its transparency.
"We pride ourselves now on being one of the jurisdictions that is open and transparent in terms of exchange of information," he said.