Chamber welcomes long-awaited publication of new residency guidelines

The Chamber of Commerce has welcomed the long-awaited publication of the new residency guidelines. 

It will be analysing its contents and engaging in a consultation exercise.

It appreciates the Government’s stated commitment to grounding residency in genuine economic contribution while seeking to protect the integrity and sustainability of local public services. However, it believes ensuring that Gibraltar remains open to necessary talent, enterprise, and flexible commercial growth is equally critical for the ongoing health of the local economy.

The policy paper, it says, introduces substantial structural changes to how individuals qualify for residency in Gibraltar, establishes new thresholds around employment earnings, accommodation standards, age limits, and initial economic deposits for the self-employed or newer trading entities.

It adds that given the far-reaching nature of these criteria and their direct intersection with local business operations, labour recruitment, and the wider commercial landscape, it's vital the private sector thoroughly analyses the practical implications of the measures.

The Chamber aims to provide a fuller and detailed opinion in the coming weeks as these discussions with its membership and industry bodies take place.