Jersey Named Top Offshore Centre

by Jason Gorringe, Tax-News.com, London

27 June 2011

Jersey has been named 'Best International Finance Centre' at the International Fund and Product Awards 2011 for the second consecutive year, according to Jersey Finance, the promotional agency for the island's financial services industry.

The awards, which are run by the Incisive Media Group, were held on June 16 in London and Christine Whitfield, Head of Special Projects at Jersey Finance, attended the event at media investment company Ingenious to accept the award on Jersey’s behalf.

Jersey Finance held off competition from competitor promotion agencies in the Isle of Man and Guernsey to retain the title. The 12-strong judging panel praised Jersey for its anticipation of international regulations affecting its funds industry. Other challenges have included creating business links with emerging markets and aiding Jersey's acclimatization to the changing environment and increased international pressure facing offshore territories.

Deborah Benn, chair of the judging panel, commented: “The judges were impressed with recent regulatory and legislative work and active promotion of Jersey as a finance centre. In particular, the judges felt Jersey demonstrated good foresight in tackling the forthcoming EU and global legislative challenges it faces in a positive and proactive manner.”

Commenting on behalf of Jersey Finance, Christine Whitfield said: "Winning this award for the second year running is testament to the consistently high standard of work that Jersey’s finance industry conducts across all the business sectors and markets, local and international, in which it operates. Jersey is regularly endorsed by third-parties as a leading finance centre and it is an honour for Jersey Finance to once again accept this award on behalf of the finance industry."

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