Business and Office of Fair Trading publishes annual report 2024–2025

The Minister for Business, Gemma Arias Vasquez, has published the Business and Office of Fair Trading Annual Report 2024–2025.

The report sets out the work carried out in business registration and licensing, consumer protection and enforcement. During the reporting period, 1,114 new business licence-related applications were processed, 412 consumer complaints were handled, and enforcement activity focused on unregistered and unlicensed foreign business and anti-money laundering in the real estate sector.

Chief Executive of Business and the Office of Fair Trading, John Paul Fa, said: “The report highlights the delivery of our core functions at the same time that we also seek to make improvements and complete new initiatives that modernise our services.”

The Minister for Health, Care and Business, Gemma Arias Vasquez, said: “This year’s report shows the real momentum behind our efforts to continue to service the business community in Gibraltar whilst also laying the groundwork for a more agile, efficient and business-friendly Gibraltar.

“These reforms are essential to making Gibraltar an even better place to start and grow a business.”

Mr Fa highlighted in the report that “2025 marks a period of real transition, not only in our physical relocation to Europort, but in the broadening of our remit as we move toward becoming the Department for Business.”

He noted that the team worked hard to deliver real improvements in service delivery, digital processes, and policy development, while continuing to uphold core functions in enforcement, licensing, and consumer protection.

In addition, he said: “Our use of AI tools, the rollout of digital certificates, and the launch of the Europort Start-Up Hub are all part of a wider strategy to modernise and support Gibraltar’s evolving business environment.”

“This report offers a snapshot of where we are and where we’re heading as we continue to support business in Gibraltar.”

The report states that with consumer outreach there have been 50 social media campaigns, 168 product recalls, and two new guidance updates published.

In what it calls ‘Operation Level Field’, which targets unlicensed businesses, there have been three information sessions, a total of 65 vehicles stopped, 79 letters issued to unlicensed businesses and five warning notices.

There were 454 new business registration, making it a total of 4,085 active registrations. The majority of these are self-employed and company registrations and the sectors with the most registrations include business services, IT, construction, food and drink, and retail.

There have been 412 consumer complaints received, 71 investigations launched and six inspections conducted. The sectors with the most complaints are retail, building works, electronic goods, and online traders.

In real estate there have been 344 transactions worth £202m in 2024, which is down from £366m in 2023. The average transaction size was £587,731.

“The outlook for 2025 appears more positive, with many in the sector anticipating a modest recovery in buyer enquiries,” the report states.

“When asked about price predictions for 2025, the majority of REAs expect residential property prices to decrease compared to 2024.”

The full report is available on the Office of Fair Trading website.