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Pribraltar: Difference between revisions
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The economy of Pribraltar is shaped heavily by its geography as a small island in a strategic strait. Maritime trade, ship repair, {{wp|offshore finance}}, tourism, and reëxports are the main drivers of economic growth. A strong service sector meets the needs of the island's population and caters to the thousands of tourists and business travellers who visit Pribraltar annually. | The economy of Pribraltar is shaped heavily by its geography as a small island in a strategic strait. Maritime trade, ship repair, {{wp|offshore finance}}, tourism, and reëxports are the main drivers of economic growth. A strong service sector meets the needs of the island's population and caters to the thousands of tourists and business travellers who visit Pribraltar annually. | ||
The financial services sector is driven mainly by offshore banking, group investment instruments, insurance (particularly maritime insurance, captive- and self-insurance, and reïnsurance), and international speculation. A stock exchange, the Pribraltar-Hāverma Securities Exchange, operates from Hāverma. | The financial services sector is driven mainly by offshore banking, group investment instruments, insurance (particularly maritime insurance, captive- and self-insurance, and reïnsurance), and international speculation. A stock exchange, the Pribraltar-Hāverma Securities Exchange, operates from Hāverma. Pribraltar is the jurisdiction of choice for organising {{wp|Special-purpose entity|special-purpose vehicles}} benefitting Kiravian companies. Upwards from 90% of {{wp|orphan structures}} used for securitisation transactions to be traded on Kiravian exchanges are domiciled in Pribraltar. | ||
The largest Pribraltarian-owned, non-strictly-financial company with significant corporate operations on the island is KMT Corporation, nucleus of the KMT Group, a diversified multinational with holdings in shipping, transportation, commodities exchange, finance, real estate, food & beverage industry, and retail, among other sectors. The KMT Group grew out of the Keregūlan Merchants of the Tropics Company, a Kiravian joint-stock mercantile company chartered in the [1500s], and played a central role in the settlement and development of Pribraltar. KMT Pribraltar Airways, an airline with robust passenger and cargo divisions, is the largest single private employer in Pribraltar. | The largest Pribraltarian-owned, non-strictly-financial company with significant corporate operations on the island is KMT Corporation, nucleus of the KMT Group, a diversified multinational with holdings in shipping, transportation, commodities exchange, finance, real estate, food & beverage industry, and retail, among other sectors. The KMT Group grew out of the Keregūlan Merchants of the Tropics Company, a Kiravian joint-stock mercantile company chartered in the [1500s], and played a central role in the settlement and development of Pribraltar. KMT Pribraltar Airways, an airline with robust passenger and cargo divisions, is the largest single private employer in Pribraltar. | ||
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Pribraltar is its own {{wp|flag state}} for the purposes of admiralty law, and maintains its own {{wp|open ship registry}}, along with registration policies and operating regulations favourable to owners. The Pribraltarian Merchant Vessel Registry is an important source of public revenue that helps the Government of Pribraltar to finance itself while maintaining a low-tax environment. Pribraltar is also a rising venue for {{wp|aircraft registration}}. | Pribraltar is its own {{wp|flag state}} for the purposes of admiralty law, and maintains its own {{wp|open ship registry}}, along with registration policies and operating regulations favourable to owners. The Pribraltarian Merchant Vessel Registry is an important source of public revenue that helps the Government of Pribraltar to finance itself while maintaining a low-tax environment. Pribraltar is also a rising venue for {{wp|aircraft registration}}. | ||
Pribraltar's small agricultural sector, constrained by the island's size and rugged terrain, has struggled to compete against imports from the Kiravian Federacy, | Pribraltar's small agricultural sector, constrained by the island's size and rugged terrain, has struggled to compete against imports from the Kiravian Federacy, Tierrador, the Cape, Cartadania, and Caphiria. Even in the market for locally-sourced produce preferred by affluent residents and upsacale restaurants, Pribraltarian farmers face competition from their counterparts in nearby St. Kennera, where the terrain is more conducive to agriculture and farm subsidies are more generous. | ||
Public Finance | ===Public Finance=== | ||
The Government of Pribraltar is financed largely by administrative fees (corporate, maritime, licensing, and other registration fees; entry fees charged to visitors), and stamp duties. | The Government of Pribraltar is financed largely by {{wp|land value tax}}, a flat {{wp|capitation tax}} on permanent residents, administrative fees (corporate, maritime, licensing, and other registration fees; entry fees charged to visitors), and stamp duties. | ||
==See Also== | ==See Also== | ||