Cayman Said To Be Offshore's Leading Finance Center
by Mike Godfrey, Lowtax.net, Washington
06 April, 2018
The Cayman Islands is the top offshore financial center, according to the latest Global Financial Centres Index, published biannually by the City of London think tank Z/Yen.
GFCI 23 used 28,559 financial centre assessments collected from 2,300 financial services professionals who responded to the GFCI online questionnaire. Since 2007 well over 160,000 assessments from over 15,000 respondents have been used to build the index. GFCI is updated regularly and ratings change as assessments and instrumental factors change.
London and New York remain at the top of the rankings but the gap between them in ratings closed to one point on a scale of 1,000. Hong Kong retained third place. San Francisco and Shenzhen newly moved into the top ten, replacing Beijing and Zurich.
European "island" centers slumped after rising in the last index. Guernsey and the Isle of Man saw their rankings fall, while Jersey rose one place.
All centers in Latin America and the Caribbean saw their ratings fall, except for the Cayman Islands. Despite the fall in the ratings, six centers rose in the rankings with the Bahamas leading the way, rising 22 places.
Mark Yeandle, Director of Z/Yen Partners and the author of the GFCI, said "All the top centers have risen in the ratings. London remains on top despite Brexit concerns but rose less than any other centre in the top fifteen."
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