The British Virgin Islands (BVI) offshore centre has been seen the highest rankings in the latest publication of the biannual Global Financial Centers Index (GFCI). The GFCI was organized and compiled by Z/Yen and published in September 2014.
The results are based on a survey of 2,211 persons which measured the competitiveness of financial centers based on criteria such as business and tax environment, human capital, infrastructure, reputation and market access.
The global average assessment for the BVI is 620, establishing the offshore centre as the highest rated in this index at the 47th place followed by Gibraltar at the 53rd position, the Cayman Islands in the 54th and Bermuda in the 58th. Nex up comes Jersey (62nd), the Isle of Man (64th), Guernsey (67th), Mauritius (69th), the Bahamas (71st), Malta (76th), and Cyprus (79th).
The GFCI 16 reports that all offshore centres have seen a notable decline in their ratings since GFCI 15 (March 2014) due to low ratings received by finance professionals rather than fundamental changes in the offshore centers.
In terms of International Financial Centers, in the latest ranking New York took the lead with 778 points, just one ahead of London. Hong Kong and Singapore follow next.
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Source: Z/Yen.com September 2014
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