In 2018, a new legislative framework for investment funds was drawn up. The framework was developed through extensive consultation between the Gibraltar Funds and Investments Association (GFIA), the Gibraltar Financial Service Commission (GFSC) and Gibraltar’ Minister for Financial Services.
This framework is set in the context of working with the possibilities created by the UK’s withdrawal of the EU (Brexit). It creates a dual-fund regime in Gibraltar which maintains the status quo should it be agreed that there continues to be access to the EU after Brexit. It also provides a duality: the necessary vehicles post-Brexit are permitted and clients may continue operating outside of the EU and a vehicle which will allow access to the EU’s single market on the basis of reciprocity and/or equivalence – this, of course, subject to the agreement eventually reached between the UK with the EU.