The studio will initially be staffed by six, however McKay said the company is looking to recruit creative and production talent.
"We are here for the long-term," said Bertram van Munster, executive producer/co-creator, The Amazing Race. "We're not just putting our names on the door then getting back on a plane to LA. We want to create shows for this region that are exportable to Europe, the US and elsewhere."
Van Munster, who has just won his tenth Emmy Award for the show, revealed that a new global reality TV format is to be unveiled later this year.