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News P6A round up of business news from the Rock Gibraltar Finance Report P8Crypto Regulation and theglobal shift toward clarityand controlFunds P12Redefining investment structures and Gibraltar%u2019s PCLP advantageTelecommunications P16What is data residency, and why do you need to care about it?Relocation P18Why UK millionaires shouldconsider relocating to GibraltarTax P22%u2018Residency%u2019 not %u2018domicile%u2019, modernising the UK tax systemThe Stock Market P26Love him or hate him, Trump gets results4 Gibraltar International www.gibraltarinternational.comPublished by Gibraltar InternationalPublications Ltd71 Irish TownPO Box 395GibraltarGX11 1AAEditorial enquirieseditor@gibraltarinternational.comAdvertising enquiriessales@gibraltarinternational.comDesigndesign@gibraltarinternational.comUK Agent Tel: + 44 (0)779 1563442No part of this publication may be reproduced without the written permission of the publishers. DisclaimerGibraltar International Publications Limited have tried to ensure that all information is accurate, but emphasise that they cannot accept responsibility for any errors or omissions, and that they accept no responsibility for statements made by contributors or for any claim made in an advertisement.%u00a9 2025 Gibraltar International Publications Ltd.ContentsMay/June/July 2025Volume 31Number 2INTERNATIONAL