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Gibraltar Looks to Beat Dublin in Race for Latin American Funds

March 18 (Bloomberg) -- Gibraltar’s Financial Services Minister Gilbert Licudi said the U.K. territory on the Iberian peninsula is a better place for Latin American funds to tap European investors than Dublin or Luxembourg.

“This trip is to develop a Latin American strategy,” Licudi said at an event in Rio de Janeiro. “We see ourselves as an EU alternative to Dublin and Luxembourg. We are very flexible and malleable and can introduce legislation quickly.”

Gibraltar, which has a corporate tax rate of 10 percent, grew 6.5 percent last year, Licudi said. The territory has about 100 funds that have access to the European Union’s population of 500 million, he said.

To contact the reporter on this story: Blake Schmidt in Sao Paulo at bschmidt16@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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