The Cayman Islands has been named the world’s number one specialised financial centre in The Banker magazine’s 2017 survey. This is the ninth consecutive year the Cayman Islands has maintained the top spot in the highly-regarded, global survey.
Mr Jude Scott, CEO of Cayman Finance said the Cayman Islands had long been regarded as the world’s premier international financial centre through unparalleled market leadership across all industry sectors, and long-standing relationships with top quality, law abiding international clients.
“The Cayman Islands is the leading jurisdiction for international hedge funds, the world’s second largest captive insurance company domicile, the leading jurisdiction for healthcare captives, and a leading jurisdiction for capital markets, trusts and banking. Our company register is at an historical high with regards to the number of active companies,” he said. “We’re seeing growth across the industry; a clear demonstration of the confidence our clients have in the quality of the Cayman Islands.”
“Cayman provides significant benefits to countries around the world and to the smooth operation of global capital markets. In particular, Cayman benefits onshore jurisdictions by facilitating more competitive international trade and enabling effective inward investment to help grow their economies.
“Our jurisdiction’s commitment to excellence in client service, balanced effective regulatory standards, and a transparent globally responsible tax system is serving us well,” Mr Scott said. “This award is further evidence that the Cayman Islands is unmatched as the world’s premier global financial hub.”
Guernsey and Jersey are ranked second and third respectively in the specialised financial centres list, with the Bahamas and Bermuda closing out the top five places in the survey.
The Banker magazine is part of the Financial Times Group, a globally recognised and respected finance publication and its IFC rankings are based on data ranging from financial markets indicators to economic potential and business environment factors. The ranking focuses on the level of international business and the value for institutions seeking to expand their international operations. In recognition of the fact that data for specialised financial centres is seldom consistent with that for mainland financial centres, The Banker has surveyed each specialised IFC and has compiled a separate table using information relevant to these locations.