As more and more European countries continue to make progress on cannabis legalisation, Gibraltar could be poised to become the leading service provider in the region.
As has been the case with new innovative technology and ideas, similar to that which was done with the gaming and DLT industry, Gibraltar offers many advantages, including;
· Regulatory certainty
· Competitive tax jurisdiction
· Workforce skillset in legal, regulatory and other prime business areas
· Easy access to Europe and Africa
This could be the year in which the Government instates the Cannabis Commission, and with that, a host of guidelines, codes of practice, and regulations, surrounding the entire operational process of setting up any type of activity related to cannabis in Gibraltar.
From the perspective of prospective licensees, the question then becomes; what type of activity do I want to undertake in Gibraltar. In practical terms, traditional outdoor large-scale horticulture isn’t a possibility in Gibraltar, due to land constraints. But what about indoor cultivation, utilising, for example, vertical farming and hydroponic techniques, in order to amplify the yield from a given footprint? Definitely a possibility. However, we anticipate that most licensees will be looking at Gibraltar as an extraction, processing and manufacturing hub, to create distillates, oils and other end products.
The issue then becomes, do I import, extract, and sell GACP-certified flower, and the products made from it to a GMP facility for processing? Indeed, this is currently the case, but questions have arisen over the last few years about this practice, and with good reason. As the medicinal market in Europe evolves, regulators are beginning to realise that in order to ensure stringent safety, repeatability and efficacy of medicinal cannabis, the process of cultivation itself needs a controlled GMP environment, and that can logically only be done indoors, where every parameter can be controlled and logged.
Therefore, even though it isn’t currently the case, it wouldn’t be a surprise to see medicinal cannabis and its products, being required to be cultivated (not only processed) by GMP standards.
At Hempire Gibraltar, we recognise the need for highly skilled individuals who are able to operate in the cannabis space, starting from the process of cultivation, all the way to the final stages of extraction and product formulation, particularly for commercial production. Too often are excessive funds injected into projects, with inexperienced individuals managing such processes, leading to inefficiencies, and in many instances, failed crops and production lines. Hempire has been set up to offer a full-service and product suite offering. Our team of highly qualified professionals, with diverse academic backgrounds and expertise, will be able to provide a high-end, scrupulous operational, compliance and management offering, which will fulfil the goals of any company looking to operate in this space.
It is our priority to develop friendly, long lasting business relationships. If you’re interested in any of our services, do not hesitate to contact us!
Grow with us!