The latest Global Financial Centres Index (GFCI 18) sees the Cayman Islands retake their position as the leading offshore centre from the British Virgin Islands.
The Caymans feature at number 34 in GFCI 18, which was released earlier this week, rising from number 39 in the March edition, with the BVIs slipping to number 43 (from 34).
Jersey and Guernsey both improve their ratings by one place, with Jersey at 53 and Guernsey at 54.
The GFCI provides profiles, ratings and rankings for financial centres, drawing on two separate sources of data – instrumental factors and responses to an online survey. The GFCI was created in 2005 and first published by Z/Yen Group in March 2007. The GFCI is updated and republished each September and March. Ninety-eight financial centres are researched of which 84 appear in GFCI 18. The remaining 14 'associate centres' may join the index when they receive sufficient assessments.
In a reflection of the way that the global financial landscape is changing, the GFCI no longer carries an official 'offshore' section, having done away with it in GFCI 17. The Caymans and BVIs now fall under 'Latin America and the Caribbean' with the Guernsey and Jersey under 'Western Europe'.
Other jurisdictions of note that are offshore competitors to the Channel Islands (or fall under the loose 'midshore' category) rated as follows: Luxembourg (19), Bermuda (42), Dublin (46), Panama (52), Gibraltar (56), Isle of Man (58) and Mauritius (64).
Singled out of as note by the GFCI 18 was the inclusion for the first time of Liechtenstein at number 60.