Gibraltar’s main industries are finance, gaming, tourism and shipping, with Gibraltar being one of the busiest bunkering ports in Europe. Gibraltar operates as a free port of goods in transit and applies a general rate of duty of 12% on household and industrial goods. Gibraltar has a special import tariff status within the EU. This gives reduced duty rates on selected items.
The official unit of currency is the pound sterling (£) with both UK and Gibraltar notes in circulation. Gibraltar has no exchange controls and unrestricted currency facilities. Individuals and companies may hold and operate bank accounts in any currency and may purchase real and personal property anywhere in the world.