iv>Under a new scheme to allow foreign law practices to practise in Singapore, the government will be issuing Qualifying Foreign Law Practice (QFLP) licences to the following six firms.
These include Allen & Overy, Clifford Chance, Herbert Smith, Latham & Watkins, Norton Rose, and White & Case. Their licences will be valid for an initial period of five years.
The Government had earlier announced the liberalisation of the legal services sector, through the introduction of the QFLP Scheme.
The Scheme provides for licences to be given to foreign law practices to practise Singapore law in permitted areas through Singapore-qualified solicitors employed by them.
"We did not want the process to have work simply move from one set of law firms in Singapore to another set of law firms. It is a question of new, fresh, overseas work and what sort of manpower commitments they were prepared to make.
"These changes will open up new avenues for Singapore qualified lawyers, and our lawyers will now be able to get international exposure without having to leave Singapore, if they choose to remain."
At a press conference announcing the successful licence applicants, Law Minister K Shanmugam talked about the economic benefits that would result from the scheme.
"We did not want the process to have work simply move from one set of law firms in Singapore to another set of law firms. It is a question of new, fresh, overseas work and what sort of manpower commitments they were prepared to make.
"What would be the opportunities for Singapore qualified lawyers? We said this in Parliament this year. These changes will open up new avenues for Singapore qualified lawyers, and our lawyers will now be able to get international exposure without having to leave Singapore, if they choose to remain.
In August 2008, foreign law practices were invited to apply for the QFLP licences. A total of 20 proposals from foreign law firms were received.
The applications were considered by an Evaluation Committee chaired by Mr Teo Ming Kian, Permanent Secretary of the Ministry of Finance.
