Gibraltar’s international opportunity – reflections from the airport departure lounge

Why international business travel matters for Gibraltar’s financial services sector, and how Acquarius builds partnerships through face-to-face meetings.

Tickets! Money! Passport! The familiar cry from the BBC’s 1990s sitcom “Absolutely Fabulous” neatly sums up life in our house lately. No sooner was I home from one trip than I was packing for another. It got me thinking about why I travel, what it brings to Acquarius and Gibraltar, and whether such trips still have a place when costs are under scrutiny and virtual alternatives such as Teams are so accessible. To some, it might look like costly gallivanting. Yet my conclusions surprised me.
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In recent weeks, I have visited Zurich, Malta and Dubai on Acquarius business trips, followed by Prague for the STEP Europe conference. Returning to familiar ground in the UK, I arranged client meetings and supported events at #GIBLDN26, the Government of Gibraltar’s annual showcase in the City of London.
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My overall aim is to keep Gibraltar and Acquarius firmly in the sights of professionals who work with different jurisdictions every day. For new contacts, that means explaining Gibraltar’s advantages before introducing Acquarius’ almost thirty-year pedigree, collaborative approach and long-standing commitment to building meaningful relationships.
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Building international partnerships

The overriding message is the importance of getting out there and promoting Gibraltar. That means engaging with colleagues in other jurisdictions not as competitors, but as potential partners. Gibraltar’s place in the international professional services community extends well beyond the private client sector.
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I have long felt that Gibraltar practitioners, and the jurisdiction, have not always been as proactive as other centres in promoting themselves internationally. That is changing, as a glance at the Gibraltar business community’s social media activity demonstrates. However, it is not enough to tell intermediaries everywhere that Gibraltar is open for business. We need to understand what professionals are looking for, what matters when choosing a jurisdiction and how they intend interacting with Gibraltarian providers? 
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Malta is a good example. I see Gibraltar collaborating with our Maltese colleagues rather than competing against them. Tried-and-tested structures involving both jurisdictions have been successfully managed for years, particularly in the online gaming industry. There is scope to build on this. The links between Malta and the Rock have endured for centuries, making it an obvious place to develop mutually rewarding business.
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In Dubai, I also found renewed interest in collaborating with professional firms in safe, well-regarded jurisdictions, where an English common law-based approach offers distinct advantages. Given the international situation across the Middle East and surrounding region, these relationships are increasingly important.
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Britain continues to set the benchmark in financial services through robust legislation and regulation. Her overseas jurisdictions such as Gibraltar demonstrate the value of these strengths. We must make the most of them before others do.
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A stronger case for Gibraltar

It was a pleasure to support the Government of Gibraltar and our financial services community during #GIBLDN26. Over more than 25 years, this annual showcase has built an enviable reputation among London’s professional business community. More ambitious than ever, it was particularly encouraging this year to see so many unfamiliar faces at the keynote events. 
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Acquarius has written extensively about the changes brought by the new UK-EU Treaty and Gibraltar’s removal from Spain’s list of uncooperative territories. Together, these developments strengthen the case for considering Gibraltar. Competition remains fierce and our services are not unique, so we must continue working hard to win and retain business. Nevertheless, we are making progress.
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Recent meetings reminded me of the breadth of expertise across Gibraltar’s business community. I used to say that we could match the services offered by our peers, particularly the Crown Dependencies. Today, I believe we can compete not only with them but also with international centres such as Switzerland and Singapore.
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Our company and trust legislation is up to date, while our leading positions in sectors such as insurance, online gaming and distributed ledger technology add to our strengths. The world is taking note.
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At Acquarius, we draw on our expertise in private client services and complex corporate work to develop solutions tailored to each client’s circumstances. Increasingly, that means collaborating with professional intermediaries around the world. 

The value of meeting in person

I have always preferred meeting people in person to relying on Teams and similar platforms. The pandemic made virtual meetings essential, and financial constraints mean they remain important. But there is still nothing quite like sitting down together, getting to know one another and exploring opportunities to work together. Being there also opens unexpected doors. A conversation often ends with: “Whilst you’re here, you should pop in to see so-and-so.” Those spontaneous introductions are much harder to replicate on Teams.
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Returning with purpose

And so, I have returned to the Rock. These trips were far from relaxing, as my colleagues and I worked hard to promote both our businesses and Gibraltar. As a friend often reminds me, “if you’re going to fly-drive, then fly-drive.” His point is simple: rather than make isolated visits to random places, return regularly to fewer centres where the potential for new business is greatest.
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The UK, Malta and the UAE will see me again soon. My STEP commitments and role as Chairman of the Finance Centre Council will also take me to other international events whenever possible.
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I can think of no better way to showcase the skill and dedication of our hardworking Acquarius team than by promoting the business internationally. I will need my tickets, money and passport again before too long.

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Key Contacts
Oliver Andlaw
Chief Executive Officer
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Laura Fuhr
Team Leader Trust & Company Management
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Reynaldo Estigoy
Client Accountant - Head of Technical
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