Overview

• The agreement preserves full operational autonomy for the British military base in Gibraltar, allowing UK personnel to enter without passports or visas under NATO-style arrangements.
• A 50-50 Spanish-British joint venture will manage Gibraltar’s airport and open it to Spanish, European and British carriers.
• A double-key system will see travelers clear Gibraltarian immigration before undergoing Spanish police Schengen-area checks at the port and airport.
• Gibraltar will phase in a new transaction tax starting at 15% and rising to 17% over three years to align its fiscal regime with EU standards while retaining local tax autonomy.
• The pact creates a European Commission-backed financial mechanism to boost cohesion and jobs in the Campo de Gibraltar and schedules a treaty draft for autumn 2025 with La Verja’s demolition set for early 2026.