The British Virgin Islands (BVI) has moved up 13 positions to 34^th in the most recent Global Financial Centres Index (GFCI). The Index also revealed that the BVI is the most highly ranked offshore jurisdiction, ahead of competing jurisdictions.

The GFCI is carried out twice a year and is ranked by drawing from existing data and online survey results on over 100 different factors identified by organisations such as the OECD and World Bank. These factors include the skilled workforce, strength of regulation, market access, infrastructure and the cluster of different financial services companies operating in the financial centre.

Commenting on the results, Kedrick Malone, Executive Director of BVI Finance said, "We are very pleased with the BVI's latest ranking in the Global Financial Centres Index. The result of the index clearly shows that the BVI is an internationally respected, established and pioneering financial centre.

"The BVI's position as the leading offshore financial centre is testament to the strength and high standards of our multi-faceted financial services sector, the professional in its rank and the regulatory regime that it operates within."

The full report of the Global Financial Centres Index can be downloaded here.