Jersey is the only offshore centre to place in the top 20 of global finance centres in a leading industry listing.

Jersey took 18th position in the listing of Global Financial Index Centres published in March. The listing is produced every six months by the City of London and examines the major financial centres globally in terms of competitiveness, using a set of ratings and rankings for each jurisdiction based on responses to a global survey.

Jersey was ahead of every other international finance centre in nine of the ten sub-indices including the availability of skilled personnel, the flexibility of the regulatory environment and the availability of a dynamic business infrastructure.

Jersey also ranked highest for government responsiveness, the island’s corporate tax regime, operational costs, access to suppliers of professional services and quality of life.

Alex Ohlsson, managing partner of Carey Olsen, said the result was extremely positive for Jersey as a jurisdiction. “We remain a centre of excellence and hold our own with major financial centres around the world,” Advocate Ohlsson said.

“We are now the only jurisdiction in the offshore category in the top twenty and have improved our position on a number of key factors. The island is confident of a strong future and we’re well placed for growth as global markets recover.”

Jersey placed four places down in the global ranking after major city finance centres including Beijing, Washington and Boston, achieved significantly higher ratings during the last six months. London remains number one in the rankings but it has dropped 15 ranking points and is now tied with New York.

Of the other offshore centres, Guernsey placed 22nd, the Isle of Man 24th and the Cayman Islands 28th.