Jersey has been judged the International Financial Centre of the Year in the Citywealth International Financial Centre Awards 2013 in London.

Now in its second year, the Citywealth IFC Awards were launched to promote excellence and adherence to global tax standards and for the first time this year they included a category for top International Financial Centre. Citywealth is a leading events and publishing group that connects global wealth management and private client experts.

The awards are based on votes online which are monitored by an international panel of judges from all sectors with experience of working with advisors in all the jurisdictions covered. In the IFC award category, Jersey received 33 per cent of all the votes including a proportion of that total (22%) directly from the London market, (18%) from Switzerland and (8%) from family offices and wealthy private individuals.

Karen Jones, editor of Citywealth, commented:

“Jersey has received criticism and praise for implementing tough standards for those operating on the island to help businesses comply with international requirements as the world takes a dim view of tax evasion. In 2013 their strategy is starting to pay off and this win consolidates their position as a leading international finance centre.”

Gary Hales, Jersey Finance’s business development representative in London, received the award on January 24th at the ceremony at the Landmark Hotel in London hosted by broadcaster Michael Portillo. Geoff Cook, CEO of Jersey Finance commented:

“It’s important that Jersey continues to be judged positively and consistently for the quality of its services and regulation and we are delighted to have secured this latest award from Citywealth, the fourth such accolade Jersey has received in the last twelve months.”

Last year, Jersey was judged as the ‘best offshore centre’ in the annual investment management awards organised by Global Investor magazine, part of Euromoney. It also won the award of ‘best international finance centre’ at the International Fund & Product Awards organised by Incisive Media and ‘outstanding international wealth financial centre’ in the Private Banker International Awards.