Gibraltar has been voted as this year's winner of the Offshore Finance Awards by the readership of UK-based finance magazine Investment International.
The surprise result emerged after the magazine carried out a mailing to some of its readers and placed a form on its website inviting responses.
"Gibraltar is a surprise winner in the international finance centre category," the magazine observed.
"The rival offshore centres of the Channel islands and Isle of Man are better known for deposit taking while jurisdictions such as the Cayman islands and the Bahamas are known for their corporate structures."
However, the Rock appears to have become increasingly popular with British expats and investors, with one reader declaring that: "It's a great place. I do a lot of business there."
While the jurisdiction's economy is not wholly dependent on financial services, the industry constitutes about one-third of its economy.
The news was greeted with enthusiasm by Gibraltar's government.
"This is yet another well deserved accolade for the status and reputation that Gibraltar now enjoys in the field of international financial services," a spokesman commented.
A comprehensive report in our Intelligence Report series giving background tax and residence information on many of the key offshore jurisdictions is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report4.asp
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