JERSEY Finance intends to open an office in Hong Kong in the second quarter of next year.

The organisation which promotes and represents the Island’s financial services sector is planning three representative offices in all. Over 60 applicants to run a new London office were short-listed and reinterviewed shortly before Christmas.

Another office could be opened in either India or Dubai later this year, with research currently being undertaken to decide which would be the most beneficial to the Island. The plans mark a new departure for Jersey Finance, which receives an annual £1 million grant from the States and around £400,000 from member subscriptions.

Geoff Cook, the chief executive of Jersey Finance, said the funding for the three new offices would come from existing resources, specifically an additional £500,000 granted by the Economic Development Minister during 2008. Mr Cook said the Hong Kong office would cover the Chinese market, in particular Shanghai.