The Cayman Islands Investment Bureau will be opening an office in Dubai by the end of the year, the leader of government business has told the Cayman News Service.

McKeeva Bush said that offices in Hong Kong and London would soon be re-opened and that he would also be exploring the possibility of offices in China and Japan.

The Dubai office will be headed by John Papesh, who is currently managing director of US hedge fund and financial advisory group Pharos Financial Group; he has also been a strategic marketing consultant for international real estate developers and investment trusts. Staff will be working on commission.

Mr Bush said: “Dubai presents tremendous investment potential for our islands.”