Offshore heavyweight Cains is to launch a new office in Asia, it was announced today (14 November), in a move that marks an international debut for the offshore heavyweight.

The Isle of Man-based commercial firm plans to launch a branch in Singapore by July 2008, with the new office serving as a hub for the whole Asia-Pacific region.

The venture will be headed up by Cains corporate director Mike Edwards, who will be accompanied by a number of associates. The team will advise new and existing clients on Isle of Man law.

Cains said the move was in response to the volume of asset finance and capital markets work the firm had picked up from the region, having previously targeted Asian companies and investment funds looking to float on stock markets including the Singapore Stock Exchange.

Cains managing director Andrew Corlett commented: "The Isle of Man is a pre-eminent jurisdiction for corporate structuring and, with its AAA rating and zero rate of corporation tax, it is one of the most attractive propositions in the offshore world."

He added: "Our work with clients in Asia, particularly in India, has seen the business case for us to have an on-the-ground presence gather strength and momentum."

According to new figures released by Hemscott statistics earlier this week, Cains is among a clutch of UK firms to have cashed in on the rapid growth of the Alternative Investment Market (AIM).

The firm boasts the most clients in the so-called AIM 100 – comprising the 100 largest companies by value on the market – with eight clients worth a combined £3.83bn.