Singapore Licenses Six Western Legal firms

 

Singapore has issued licenses for six western legal firms to practice.

Previously, foreign firms could only advise clients via a joint venture with a local firm.

The firms receiving the new Qualifying Foreign Law Practice licenses are Clifford Chance, White & Case, Latham & Watkins, Allen & Overy, Norton Rose and Herbert Smith.

Law Minister K. Shanmugam estimated the six firms licensed will double their revenue, staffing and profits in Singapore over the next five years and said the licensing will “realize the potential of our legal services sector to develop into an engine of growth in its own right.”

Foreign firms still cannot appear before courts and face other restrictions.

 

Article courtesy of  Nancy Grimes - Founder GLI / Grimes Legal, Inc. - Legal Search Firm
    Retained Legal Recruiters © Copyright 2008 Grimes Legal, Inc. | All rights reserved