Gibraltar signals its Brexit-readiness as Picardo returns to power

Amid frenzied talk of a likely general election in the UK before the end of this year or early next year, Gibraltar has just had its own polling day, with current Chief Minister Fabian Picardo securing another four years in power in the British Overseas Territory.

Picardo scored his third term at the head of a coalition between his party, the Gibraltar Socialist Labour Party (GSLP), and the Liberal Party. This alliance secured 52.5% of the vote, which translated into 10 of the 17 seats in the Gibraltar parliament.

What it all means for those using the services of lettings agents in Gibraltar to rent or purchase property in the territory, is continued stability as the Gibraltar government proceeds with its preparations for the Rock’s impending departure from the European Union (EU).  

Chief Minister thankful for the public’s vote of confidence

In his speech after the results were announced on Friday 18^th October, Picardo said the election would also be the last one he contended.

He commented: “Our main role in these coming four years will be to sail this nation of ours safely through the unchartered waters of our departure from the European Union. We will sail our people through every potential variation of that process – even its potential cancellation.

“We have set the foundations to ensure Gibraltar will reach the safe harbour that we want for our nation with an enduring partnership with the United Kingdom, a partnership well beyond colonialism, a relationship recognised internationally as beyond colonialism.”

But the election isn’t the only significant recent event in Gibraltar

The GSLP-Liberal alliance’s victory in the election was an emphatic one, the more than half of the vote it won placing it far ahead of the 25.6% achieved by the centre-right Gibraltar Social Democrats.

The Keith Azopardi-led party therefore claimed six seats in Gibraltar’s parliament, leaving Marlene Hassan Nahon, leader of the left-wing Together Gibraltar party, to take the remaining seat. The election turnout, meanwhile, was 70.84%.

However, by no means was the election the sole event of significance to those watching Gibraltar’s preparations for its post-Brexit life after the current deadline of 31^st October.

That’s because it has also been confirmed that Gibraltar and the UK have signed a double taxation agreement, thereby ensuring individuals with income or interests in both jurisdictions do not pay tax twice on the same income.

It’s just one more sign of how ready Gibraltar is to take on the challenges and opportunities that its looming break away from the EU presents.

There should be only one choice of lettings agents in Gibraltar

If you are an individual or organisation looking to tap into such aforementioned opportunities in 2019, 2020 or beyond, you could scarcely hope to choose more trustworthy lettings agents in Gibraltar than BMI Group.

So, why not enquire about our property search and consultancy services today?