Brexit - What does this mean for our clients?
31st of December 2020 saw the end of the Brexit Transition Period and as of the 1st of January 2021 Gibraltar (together with the United Kingdom) is no longer a member of the European Union (“EU”).
What does this mean for our EU resident clients?
Effective 1st of January 2021, the products and services that we offer are no longer aimed at residents of the EU; additionally, the Bank is limited as to the activities which can be conducted within the EU. As a result, we will no longer consider new applications for business from residents of the EU.
For any EU resident based clients that had established a contractual relationship with us pre 31st of December 2020, we will continue to provide the same service where we are allowed to do so, but depending on the type of service that you enjoy, together with the circumstances of each client, we may inevitably be required to make some changes, including potentially terminating the relationship. Where this proves to be necessary, we will notify you accordingly in due course.
What does this mean for our clients outside the EU?
Our clients outside EU will not notice any changes to our services.