Singapore to grant second round of licenses to foreign firms
Large international law firms are lining up for the opportunity to launch offices in Singapore, as the republic opens its legal market by taking in a second round of license applications.
Heavyweights DLA Piper and Jones Day have applied for permission to launch in the jurisdiction, along with Pittsburgh firm K&L Gates and London firm Watson Farley & Williams and others. Singapore’s law ministry says that it will award licenses by the end of the year.
The interest in Singapore is due to its status as a fast-growing economy, with mergers and acquisitions increasing by 25 per cent in the last year while the market slumped in other destinations.
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