eToro Looks To Open Subsidiary in Gibraltar
06 June, 2018
It appears that the social trading network eToro could be the next leading company to seek out offices for rent in Gibraltar, with the brokerage’s CEO, Yoni Assia, having reportedly met with the British Overseas Territory’s commerce minister Albert Isola.
The Finance Magnates website reports that eToro has been talking to Gibraltar officials about opening a subsidiary on the peninsula, quoting “sources with knowledge of the matter”.
If the opening of eToro offices in the territory does come to pass, it will be exciting development reflecting Gibraltar’s push in recent times to become a cryptocurrency-friendly offshore destination – crypto having also been an ever-greater priority for eToro.
Gibraltar and eToro: a likeminded coming together?
Gibraltar has been a key hub for gaming companies for many years, and a presence in the territory for the social trading brokerage would enhance the area’s credentials as an emerging epicentre of crypto-related activity as well.
The signs are certainly good, with Finance Magnates stating that eToro’s management team had recently held meetings with the Gibraltar Financial Services Commission (GFSC) and met with both Isola and Chief Minister Fabian Picardo QC.
The proposals to expand eToro into Gibraltar were said by the website to be “at an advanced stage”, with the company having made its pivot amid Gibraltar’s announcement of a friendly Distributed-Ledger Technology (DLT) framework.
These guidelines regulating cryptocurrency providers in Gibraltar were introduced in January 2018, while it is expected that a draft bill on ICO governance will be voted in by October this year.
The perfect place to seek out offices for sale or rent
Gibraltar’s aforementioned longstanding reputation as a safe haven for European gaming firms and evolving crypto focus, together with a 10% corporate tax rate, makes it unsurprising that so many organisations are contemplating establishing offices in the territory, even amid the headwinds of uncertainty brought by the UK’s continuing Brexit negotiations.
Here at Property Zone Gibraltar, we stand ready to assist firms on the lookout for the best-equipped and most cost-effective offices for sale in Gibraltar. We are among the territory’s most experienced estate agents, and would be honoured and delighted to help you with your property search.
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