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Cayman acknowledged as a top offshore financial center

May 15, 2018

Twice a year the Global Financial Centres Index is published to analyze and rate financial centers worldwide. Up to 2,500 professional financial analysts were questioned about the current state of different jurisdictions. As a result, the Cayman Islands is now recognized as the best offshore financial center in the world.

GFCI is a significant mark for offshore countries to maintain their position between other jurisdictions. This index is updated according to every change in economic or political situations. This time most popular offshore financial centers retained their positions in rating.

For example, despite of Brexit concerns, London stays at the top of the ranking but New York is closing in. Also, in the top ten we can see Hong Kong, San Francisco and Shenzhen. However, Beijing and Zurich dropped out of the 10 best financial centers in the world.

What about the drops in the ratings? Latin America and the Caribbean have lost points. The same pattern worked for European island centers too. These jurisdictions mostly fell in the rating and now are not among the most popular offshore destinations. At the same time, the Bahamas and the Cayman Islands are holding on with their places and the Bahamas even moved 22 places up.

GFCI is a ranking that is very important for offshore jurisdictions. It functions since 2007 and more than 15,000 professional respondents have taken part in the analysis. This is why participating in GFCI means a lot for financial services centers.

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