Guernsey Finance will open a representative office in Hong Kong early next year.
The office will be the promotional agency’s second overseas outpost, in addition to its Shanghai office, which opened in 2008.
Wendy Weng, Guernsey Finance’s China representative, who is based in Shanghai, will use the office as a base to carry out further promotional activities on the wider Southeast Asia market.
In addition, it will also be utilised by the Guernsey Financial Services Commission (GFSC) to provide regulatory advice to those in the region who might be considering Guernsey-specific ventures.
Dominic Wheatley, chief executive of Guernsey Finance, commented: “The Hong Kong office is an exciting development not only for Guernsey Finance, but also the Island’s financial services sector which has a growing interest in the region.”
“We believe that establishing a larger presence in Asia reflects current industry trends and is fundamental to our future strategy, particularly as Hong Kong is such an important hub not only for China, but Southeast Asia overall.”
“Full details of the events will be announced in due course, but it is important for those in the South Asia market to be aware that the office will be ‘open for business’ before then, most likely by the end of January.”
The expectation is that the office will be operational during Q1 2016, with a launch event scheduled to take place in Hong Kong during the first week of March.
Guernsey’s commerce and employment minister, Kevin Stewart, commented: “We are delighted that Guernsey Finance will have a physical presence in Hong Kong which, in conjunction with the Shanghai office, will assist [Guernsey’s] finance sector in the promotion of its services in the region and reflects the priorities set out in the government’s finance sector strategy.”
