The government of the Cayman Islands is planning to open an office in Singapore to capitalize on opportunities in the broader Asia region.

By the end of 2023, the Cayman Islands will open an office in Singapore, according to a «Financial Times» report citing André Ebanks, the country’s financial services minister.

«[The office will allow the Caribbean territory to] better capitalize on the many new business opportunities  [. . . ] that the Asian region has to offer,» he said, highlighting that the city-state held a «relatively neutral position in the region».

On Hong Kong, Ebanks noted that it was also one of the regional options considered and that it remained an «important locale».