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The creation of a single European Insurance Market has brought benefits to both the buyers and sellers of insurance products and services, particularly in the field of captive insurance and cross -border insurance operations.

The Single Market enables insurance companies in an EEA State to insure risks in another EEA State either:

  • by establishing a branch operation i.e. freedom of establishment, or
  • by insuring risks directly in the "host" EEA State, i.e. freedom of services, without having to go through separate local licensing procedures.

These freedoms can bring real benefit to:

  • captive insurers with risks in EEA territories
  • insurers setting up an EEA offshore cross-border base, for personal lines insurance.

Gibraltar is the only British Dependent Territory that has full access to the Single Market by virtue of the UK's membership under Article 227(4) of the Treaty of Rome. However, Gibraltar is specifically excluded from the requirement to levy Value Added Tax.

The European Economic Area Agreement applies to Gibraltar under the same conditions as those laid down by the Treaty of Rome, by virtue of Article 126(1) of that Agreement.

Contracting territories to which the EEA agreement applies:

Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Leichtenstein, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, United Kingdom.


Anthony Fisher

Finance Centre Development Director
Department of Trade & Industry
Government of Gibraltar
Suite 771, Europort

Tel No:  + 350 50011
Fax No:  + 350 47677
E-mail:   Click Contact Link 

Website:  Click Contact Link 

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