More than half the people who work in Gibraltar do not live in Gibraltar. Around 15,000 people cross the land frontier from Spain every day, which the UK government describes as [over half of Gibraltar's workforce](https://www.gov.uk/government/news/uk-finalises-historic-treaty-with-eu-to-secure-economic-future-of-gibraltar). The resident population is 37,936, counted at the [2022 census](https://www.gibraltar.gov.gi/uploads/statistics/2025/Census/Census%20of%20Gibraltar%202022%20-%20Report.pdf). Finance, insurance, shipping and online gaming all run on a workforce that walks and drives in each morning. Hotel rooms do not suit the way most of that work actually happens. Projects run for weeks. Relocations run for months. Teams need to sit together, cook their own food and keep working after six in the evening. That is the gap serviced apartments fill, and it is the reason Victory Suites on Devils Tower Road was built the way it was. The tax position is the headline. Corporation tax is [15 per cent](https://www.gibraltar.gov.gi/income-tax-office/businesses-and-corporations/corporate) on profits accruing in or derived from Gibraltar, up from 12.5 per cent with effect from 1 July 2024. Utility companies and companies with a dominant market position pay 20 per cent instead. There is no VAT and no capital gains tax. The practical side matters just as much. English is the official language, so contracts, courts and meetings all run in it. The clock sits one hour ahead of London and in step with Madrid, which puts a Gibraltar desk inside both the UK and the European working day. The currency catches people out. Gibraltar issues its own pound, pegged one to one with sterling, and UK notes and coins spend freely here. The reverse is not true. Gibraltar notes are not legal tender in the UK, so anyone flying home with a wallet of local twenties will be changing them at a bureau. Spend them or swap them before you leave. The finance sector clusters into Europort, the World Trade Center and the Midtown offices, all a short walk or a five minute taxi from Devils Tower Road. Insurance is the standout. [Gibraltar Finance](https://www.gibraltarfinance.gi/insurance/motor-and-non-life-insurance), the government's finance centre arm, says more than 25 motor insurers write new business from the territory and cites a Big Four estimate that they hold over 20 per cent of the UK motor insurance market. That page carries no date, so read it as a measure of scale rather than a current figure. This is the biggest shift in how business travel to Gibraltar works in living memory. The treaty was signed in Brussels on 14 July 2026 and applied provisionally from the following day, a date the Gibraltar government [confirmed in advance](https://www.gibraltar.gov.gi/press-releases/hmgog-celebrates-unanimous-treaty-approval-by-eu-member-states-and-welcomes-certainty-on-implementation-date-for-15th-of-july-2342026-11855). Since 15 July 2026 there have been no routine passport checks at the land frontier with Spain. Immigration control moved to Gibraltar's airport and port, staffed by both Gibraltarian and Spanish officers. For a project team the effect is concrete. Malaga and Jerez become genuine alternatives to Gibraltar's own runway, and an afternoon meeting in Sotogrande or Algeciras no longer costs an unpredictable queue on the way back. The full breakdown of what changed is in our [15 July 2026 border treaty guide](/blog/gibraltar-border-15-july-2026-treaty-changes). A hotel sells a bed and a front desk. A serviced apartment sells a furnished home with the service layered on top: a full kitchen, a separate living area, your own washing machine, and a table you can spread paperwork across rather than a bedspread. For a three night trip the difference is marginal. Past roughly ten nights it stops being marginal. Weekly and monthly rates fall while hotel nightly rates hold, and cooking two meals a day at home takes a real bite out of what a team claims back on expenses. Run the maths on a thirty night posting and the shape becomes obvious. A hotel holds its nightly rate for all thirty nights and adds a restaurant bill to most of them. An apartment drops to a monthly rate at the four week mark and moves breakfast, most lunches and a fair share of dinners into a kitchen the guest already has. The laundry line disappears from the expense claim entirely, because the machine is in the suite. None of that shows up in a nightly rate comparison, which is why nightly rate comparisons mislead on long stays. Our [serviced apartment and aparthotel guide](/blog/serviced-apartments-gibraltar-aparthotel-guide) sets the two models side by side in more detail. Every suite at Victory Suites has a full kitchen, a washing machine, a dishwasher, air conditioning, a Smart TV, a private balcony and free high speed WiFi. The building adds a heated indoor pool, a 24 hour Technogym fitness centre, a business lounge, a cafe, smart entry and an on site concierge. |Suite