Gibraltar is a self governing British territory having been ceded to Great Britain in 1713 pursuant to the Treaty of Utrecht. Gibraltar’s parliament has full legislative powers and executive power is vested in Her Majesty and exercised by the Government of Gibraltar.
It is a United Kingdom Overseas Territory situated at the southern tip of the Iberian peninsula and looks over the western entrance to the Mediterranean Sea. It is two and a half square miles in area and has a resident population of approximately 30,000 people. One of the main features of Gibraltar’s population is the diversity of their ethnic origins. The demographics of Gibraltar reflects Gibraltarians'racial and cultural fusion of the many European and non-European immigrants who came to The Rock over three hundred years. They are the descendants of economic migrants that came to Gibraltar after the majority of the Spanish population left in 1704.
Gibraltar is an EU territory having joined with the UK in 1973 as a territory whose external relations the UK, as a Member State, is responsible for . Gibraltar is therefore the only British Overseas Territory that has full access to the Single European Market. However three derogations were obtained upon accession to the EU — Gibraltar does not have to comply with Community Rules on the Common Customs Tariff, the Common Agricultural Policy or the Harmonisation of Turnover Taxes (VAT).