We report on the results of NuSTAR and XMM-Newton observations of the persistent X-ray source 1E1743.1-2843, located in the Galactic Center region. The source was observed between 2012 September and October by NuSTAR and XMM-Newton, providing almost simultaneous observations in the hard and soft X-ray bands. The high X-ray luminosity points to the presence of an accreting compact object. We analyze the possibilities of this accreting compact object being either a neutron star (NS) or a black hole, and conclude that the joint XMM-Newton and NuSTAR spectrum from 0.3 to 40 keV fits a blackbody spectrum with kT ~ 1.8 keV emitted from a hot spot or an equatorial strip on an NS surface. This spectrum is thermally Comptonized by electrons with kT_e ~ 4.6 keV. Accepting this NS hypothesis, we probe the low-mass X-ray binary (LMXB) or high-mass X-ray binary (HMXB) nature of the source. While the lack of Type-I bursts can be explained in the LMXB scenario, the absence of pulsations in the 2 mHz–49 Hz frequency range, the lack of eclipses and of an IR companion, and the lack of a K_ɑline from neutral or moderately ionized iron strongly disfavor interpreting this source as a HMXB. We therefore conclude that 1E1743.1-2843 is most likely an NS-LMXB located beyond the Galactic Center. There is weak statistical evidence for a soft X-ray excess which may indicate thermal emission from an accretion disk. However, the disk normalization remains unconstrained due to the high hydrogen column density (N_H ~ 1.6 x 10^(23)cm^(-2)