BVI Stands Out In Global Financial Centres Index

The British Virgin Islands (BVI) has risen four places and been named a top five offshore finance centre in the 15th influential Global Financial Centres Index (GFCI)1.

Overall, the jurisdiction is ranked 44th in the world, ahead of 39 other financial centres.

The strong rise of the BVI in the GFCI 15 counters the trend for most offshore centres that have seen a decline in their position relative to other financial centres; several losing more than ten places.

The GFCI is a twice-annual report which provides profiles, ratings and rankings for a growing list of global financial centres, drawing on two separate sources of data: instrumental factors and responses to an online survey. The GFCI was first published by Z/Yen Group in March 2007 and has subsequently been updated every six months; this particular issue is the 15th GFCI to be published.

Looking at the global trends, the GFCI15 report reveals that 29 financial centres climbed in the ranks, 47 centres declined and four centres experienced no change. For more information, visit http://www.longfinance.net/images/GFCI15_15March2014.pdf

Note:
For more information, please see Global Financial Centres Index.
Based on survey responses, the GFIC report identifies business environment, taxation, human capital, infrastructure, reputation and market access as the most important factors for competitiveness for a financial centre. ‘Business environment’ consists of areas such as corruption, transparency and the rule of law, including issues relating to regulation.