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Joey Garcia Benedicte Gravrand, Opalesque Geneva:

Gibraltar, a British Overseas Territory on the south coast of Spain, is part of the European Union (EU). It is putting itself forward as a low-cost business hub for non-EU fund managers who want to access the European investor base. This was discussed at length during the recent Opalesque Gibraltar Roundtable.

"When you look at the interplay between the global and European markets, I think it’s fair to say that international markets need access to Europe, and that is essentially one of our main selling points and one that distinguishes us from many other financial services jurisdictions," said Joey Garcia. Garcia is a Partner at the Gibraltar-based law firm ISOLAS, where he heads up the Funds and Financial Services practice. He is also the current Chairman of the Gibraltar Funds & Investments Association (GFIA), a local industry representative body.

Several years ago, the Gibraltar government made a strategic decision to fully develop and 'onshore’ all aspects of its financial services business. The peninsula has positioned itself as a European entry point to jurisdictions like Hong Kong, Singapore, the US and Switzerland, countries that are looking for an efficient way to access European fund distribution.

"The Alternative Investment Fund Managers Directive (AIFMD) has changed the landscape, and in a way restricted peop......................

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