Singapore licenses four more foreign firms

February 21, 2013 The Singapore Ministry of Law has granted four international firms the licence to practice in the country in its second round of applications. Gibson Dunn & Crutcher, Jones Day, Linklaters and Sidley Austin have been granted an initial license period of five years.

Six foreign law firms were granted licenses in the first round in 2008, and the scheme appears to have been a success, with the legal services sector growing in value by over 25 per cent from S$1.5 billion in 2008 to an estimated S$1.9 billion in 2012.

In the same period, Singapore has become an important seat of arbitration, with the Singapore International Arbitration Centre handling vastly more disputes and increasing the total sum of disputes arbitrated from S$1.35 billion in 2010 to S$3.61 billion in 2012.

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