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Jersey Wins 'IFC Of The Year' Gong

Wednesday, January 30, 2013

Jersey has received an "International Financial Center of the Year" award at a recent ceremony hosted by Citywealth International in London.

Now in its second year, the Citywealth International Financial Center Awards were launched to promote excellence and recognize financial centers that lead in the adoption of global tax standards. This is the first year that the awards have included "Top IFC" as an award category.

The awards are based on on-line votes which are monitored by an international panel of judges from all sectors with experience of working with advisors in each of the jurisdictions covered. In the IFC award category, Jersey received 33% of all the votes. Two-thirds of all votes received in favor of Jersey originated from persons in London, with a significant portion of the remainder received from Swiss practitioners and clients.

Karen Jones, Editor of Citywealth, said: "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 center."

Gary Hales, Jersey Finance's business development representative in London, received the award on January 24, 2013, at the ceremony at the Landmark Hotel in London.

Welcoming the award, the Chief Executive Officer of Jersey Finance, Geoff Cook added: "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 Center" in the annual investment management awards organized by Global Investor magazine, part of Euromoney. It also won the award of "Best IFC" at the International Fund & Product Awards organized by Incisive Media and "Outstanding International Wealth Financial Center" in the Private Banker International Awards.

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The Report

Offshore Trusts Guide: Introduction

The History of Offshore Trusts
Development of Professional Competence in the Jurisdictions
What Future for the Trust?
The New Age of Transparency
The Swiss Association of Trust Companies
The Society of Trusts and Estates Practitioners

Offshore Trusts Guide: Jurisdictions

Bahamas

Bahamas: Legal Framework and Formation Rules and Fees
Bahamas: 2006 Private Trust Companies Legislation

Barbados

Barbados: Legal Framework and Formation Rules and Fees
Barbados: Supervisory and Licensing Regime and Fees

Bermuda

Bermuda: Legal Framework and Formation Rules and Fees
Bermuda: Supervisory and Licensing Regime and Fees

British Virgin Islands

British Virgin Islands: Legal Framework and Formation Rules and Fees
British Virgin Islands: Special Trusts Act 2003
British Virgin Islands: The Trustee Act 2003
British Virgin Islands: :Supervisory and Licensing Regime and Fees
British Virgin Islands: New Laws on Private Trust Companies
British Virgin Islands: New Private Trust Company Regulations

Cayman Islands

Cayman Islands: Legal Framework and Formation Rules and Fees
Cayman Islands: Supervisory and Licensing Regime and Fees

Cook Islands

Cook Islands: Legal Framework and Formation Rules and Fees
Cook Islands: Supervisory and Licensing Regime and Fees

Cyprus

Cyprus: Legal Framework and Formation Rules and Fees
Cyprus: Supervision, Licensing and Tax

Gibraltar

Gibraltar: Legal Framework and Formation Rules and Fees
Gibraltar: Legislation, Regulation and Supervision

Guernsey

Guernsey: Legal Framework and Formation Rules and Fees
Guernsey: Trusts Law 2007

Isle of Man

Isle of Man: Legal Framework and Formation Rules and Fees
Isle of Man: Supervisory and Licensing Regime
Isle of Man: Uses Clients and Tax Treatment

Jersey

Jersey: Legal Framework and Formation Rules and Fees
Jersey: Supervisory and Licensing Regime
Jersey: Trusts Amendment Act 2006
Jersey: Foundations

Liechtenstein

Liechtenstein: Legal Framework and Formation Rules and Fees
Liechtenstein: Regulation Supervision and Transparency
Liechtenstein: Characteristics of Liechtenstein Trusts
Liechtenstein: Foundations

Madeira

Madeira: Legal Framework and Formation Rules and Fees

Malta

Malta: Legal Framework and Formation Rules and Fees
Malta: The Trust and Trustees Act 2004

Mauritius

Mauritius: Legal Framework and Formation Rules and Fees
Mauritius: Characteristics of the 2001 Trusts Act
Mauritius: Additional Provisions of the 2001 Trusts Act
Mauritius: Tax Treatment

Monaco

Monaco: Legal Framework and Formation Rules and Fees

Nevis

Nevis: Legal Framework and Formation Rules and Fees

Panama

Panama: Legal Framework and Formation Rules and Fees
Panama: Requirements for Acting as Trust Company in Panama

Seychelles

Seychelles: Legal Framework and Formation Rules and Fees

Turks & Caicos

Turks & Caicos: Legal Framework and Formation Rules and Fees
Turks & Caicos: The Voidable Dispositions Ordinance

Vanuatu

Vanuatu Legal Framework and Formation Rules and Fees




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