GSLP-Liberals-Manifesto-2019

let’s talk about...Albert
ALBERT ISOLA HAS SERVED YOU AS MINISTER FOR FINANCIAL SERVICES AND GAMING SINCE 4 JULY 2013 WHEN HE WAS
ELECTED IN A BY-ELECTION FOLLOWING THE PASSING AWAY OF CHARLES BRUZON. SINCE NOVEMBER 2015 HE HAS ALSO HAD
RESPONSIBILITY FOR COMMERCE AND THE POST OFFICE. HE HAS TRAVELLED AROUND THE WORLD MARKETING GIBRALTAR
SINCE HE WAS ELECTED AND HAS IN PARTICULAR LED IN THE MARKETING OF GIBRALTAR AS A JURISDICTIONAL PIONEER IN
THE DLT / BLOCKCHAIN SPACE. BEFORE THEN ALBERT WAS PRACTISING AS A BARRISTER AND SENIOR PARTNER AT ONE OF
GIBRALTAR’S LEADING LAW FIRMS WHERE HE LED THE FINANCIAL SERVICES AND COMMERCIAL PROPERTY TEAMS. HE HAS
REGULARLY ADDRESSED INTERNATIONAL CONFERENCES AROUND THE WORLD IN FINANCIAL SERVICES. HE WAS PREVIOUSLY
A MEMBER OF PARLIAMENT FROM 1996-2000 AND HAS BEEN A MEMBER OF THE GSLP SINCE 1987. HE IS MARRIED TO
GRAZIELLA AND HAS A SON AND 3 DAUGHTERS.
FINANCIAL SERVICES
We have worked tirelessly to ensure
we maintain passporting rights to the
United Kingdom market post Brexit
for Gibraltar firms. We are the only
Jurisdiction to have achieved this. In
addition we have worked extensively
to ensure we are up to date with and
complying with all our International
obligations and standards especially in
the areas of compliance with all Money
Laundering and Counter Terrorism
financing provisions. This work
will continue as we implement our
commitment to maintain international
standards in this important area. Our
ability to work internationally depends
on this.
NEW FINANCIAL SERVICES ACT
We have worked extensively to bring
to Parliament the new Financial
Services Act, passed with unanimous
support in July 2019. This Act
introduces many new features and
checks and balances on the Regulator
and its powers. It is imperative that the
Regulator understands the importance
of proportionality and speed to market
as we work to attract new quality
business to Gibraltar.
PRODUCT DEVELOPMENT
We have worked on product
development, improving existing lines
of business and creating entirely new
areas of business for our community.
The world first DLT Legal Framework
has received International acclaim
and recognition. We will continue to
innovate and carry out a complete
review of our entire product line in
partnership with the Industry and
ensure that all are current, updated
and fit for purpose.
MARKETING - THINK GIBRALTAR
We have invested heavily in marketing
Gibraltar PLC across the World,
successfully. We must continue to
focus our marketing efforts in areas
that will yield effective business for our
community. New markets will deliver
business at a slower pace but we must
sow the seeds for future growth. The
importance of our traditional markets
cannot be underestimated and we will
work even harder this term to promote
Gibraltar in the United Kingdom.
The #ThinkBusiness #ThinkGibraltar
campaign is already showing great
results!
DOUBLE TAXATION AGREEMENTS
We have a Tax Treaty with Spain
(which makes absolutely no
concessions on sovereignty or tax
sovereignty in any way) which once
ratified will lead to Gibraltar being
removed from the Spanish tax haven
blacklists. Additionally, we have
been negotiating a Double Taxation
Agreement with the United Kingdom.
Both of these are unprecedented and
great achievements. The value of these
treaties cannot be underestimated
either politically, reputationally or
in terms of attracting new business
opportunities to Gibraltar. We
will now work to build a Tax Treaty
network with other countries ensuring
that these are OECD BEPS compliant
to further strengthen the Gibraltar
proposition for quality International
firms.
OECD – BEPS INCLUSIVE
FRAMEWORK
As a result of our agreement to the Tax
Treaty with the Government of Spain,
the latter lifted its objections to our
inclusion in the OECD BEPS Inclusive
Framework. This is an essential
framework to form part of in order to
be in a position to be able to conduct
reputable financial services business
internationally. The failure to have
access to the BEPS framework was
beginning to damage Gibraltar. We are
very proud to have achieved inclusion
in the framework.
DISTRIBUTED LEDGER
TECHNOLOGY
The work of this Government in
leading the drive towards a regulated
environment for the Distributed
Ledger Technology (DLT) space has
been recognised around the world. We
were the first Jurisdiction to propose,
debate and enact legislation to provide
a legislative framework for Blockchain
firms, affording them the security of
knowing that their business here was
licensed, regulated and legal. The
legislation proposed 9 Core Principles
for these firms, designed to permit
and encourage quality firms to set up
in Gibraltar and operate from here
creating a new industry for Gibraltar.
LICENSED DLT BUSINESSES
ON THE ROCK
We now have some 15 new DLT
businesses fully licensed or licensed
in principle, with more going through
the licensing process, and we are now
considering new initiatives which will
enhance the Gibraltar offering. The
...aspire to the best Gibraltar 113