Legal Services
Singapore’s legal sector is steadily growing in importance.
Apart from the legal profession and in-house counsel, other areas of growth include commercial litigation, mergers and acquisitions, equity capital market, arbitration, and intellectual property. The upcoming Integrated Resorts will give rise to construction practices such as advisory and drafting work, and claims and litigation work on disputes. Maxwell Chambers, the world’s first integrated dispute resolution complex, was established in 2009, giving credence to Singapore’s growing reputation as a preferred venue in Asia for reliable arbitration and alternative dispute resolution.
The local law firms are growing in both size and reputation as the demand for legal services rises.
In 2008, the Singapore Government announced the liberalisation of the legal services sector, with the introduction of a Qualifying Foreign Law Practice (QFLP) Scheme. The Scheme allows foreign law practices to apply for licences to practise Singapore law in permitted areas through Singapore-qualified solicitors employed by them.
The Ministry of Law has also made a number of significant changes in 2009 to the requirements for admission to the Singapore Bar. For instance, overseas graduates now do not have to attend a year-long conversion course. Instead, they will undergo a Bar examination and an optional three-month course. Pupillage has also been replaced by training contracts.
Read more about Singapore’s legal services industry here .
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