Gibraltar is a worldwide recognized offshore financial and e-gaming jurisdiction. The country is situated at tip of the Iberian Peninsula between south of Spain and north of Morocco. Gibraltar is a self-governing British Crown Dependency; the UK is responsible solely for the external relations and foreign affairs of the territory but is completely detached from UK taxes. Gibraltar was confirmed by the UK Gambling Act 2005 as a sector of the European Economic Area (EEA) for the purpose of the UK gaming legislation. Since then Gibraltar has maintained a solid reputation and is still managing the license of some of the biggest brands in the UK. It is not surprising considering the competitive tax rate of 1% on gross gaming revenue.