Passporting financial services into the EU
Passporting of financial services is an EU mechanism allowing companies that are authorised to provide financial services in one jurisdiction to provide them in another without the need for authorisation in this second jurisdiction. It can do this by establishing a branch or providing cross-border services.
In order to do this the company is required to notify its home member state supervisory authority that it wants to provide these services in a named jurisdiction.
Companies that are authorised by the Financial Services Commission (FSC) have the right to passport their banking, investments and insurance services throughout the EU and European Economic Area.
Gibraltar is incorporated into the EU by virtue of the UK’s membership. Under Article 299(4) of the Treaty of Rome, which established the
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