As an offshore jurisdiction, many companies and trusts are registered in Gibraltar for tax benefits. The TCSPs form an important part of our finance sector.
- Describe your sector in a nutshell.
Mature and diverse sector within the Gibraltar Financial Services industry. Our sector is mainly focused on the management and administration of companies, trusts and foundations. At present there are 50+ firms that make up our industry with many linked to accountancy and legal firms whilst others are independent.
- What are the different career opportunities/jobs available in your sector?
Trust and Company Administrators as well as careers in compliance, accounting, legal and tax work with all of these roles ranging from junior to senior positions.
- What’s interesting/fun about your sector/industry? Why should a young person want to work there?
Very diverse industry with a large focus on private client work but also on international corporate work. The fact that our industry touches on many different types of structures ranging from financial holding assets and wealth management to trading companies makes it very interesting for young individuals. In addition many of our clients are of an international nature which makes it more challenging and provides opportunities to travel.
- What skills/qualities do you look for in someone wanting to join your sector?
Depending on the nature of the role but a background in accounting/law is an added advantage that allows new entrants to develop their skills in various positions as summarised under point 2. Graduates with a non-accounting/legal degree will also be considered and further study opportunities are usually available.
- What is demand looking like in your sector? How do you think this will change in the future?
At present there are some 50+ licensees and its fair to say that the industry is lacking supply to meet the current demand with many firms often having to recruit outside Gibraltar.
- What is the approximate salary range can people earn?
This will very much depend on the position held, but the industry offers many well paid careers that can carry other benefits such as private medical insurance and private pensions.
- What career pathways are available for a young person wanting to join your sector? (University and non-uni routes)
Many of our employees tend to study towards STEP (Society of Trust and Estate Practitioners) and ICSA (Institute of Chartered Secretaries and Administarors) whilst others tend to study for a qualification in compliance or accountancy, ACCA or ACA as an example.
- Any advice you would give to a young person wanting to join your sector?
Our industry is quite diverse and equally interesting. The fact that our industry and firms within have been around for many years offers a stable platform for young individuals to develop their careers.