Mission:The Legal
Committee monitors significant legal developments in Singapore,
Southeast Asia and the US
affecting U.S.
business
interests in the region and Asian investments in the United States.
The committee
conducts seminars and speaker programs designed to increase awareness
of major
legal issues and also serves as a focus for the interests of
Singaporean and
international law firms practicing in Singapore
and the region.
Industry Brief:Singapore’s legal
services sector is steadily
gaining influence both domestically and internationally.The country currently
sustains nearly 4,500
practicing lawyers and approximately 880 law firms making Singapore a key legal
hub for Southeast Asia
and even the Indian subcontinent.The reliability of Singapore’s
legal system is quickly enabling Singapore
to be considered a peer among other highly respected international
arbitration
venues such as Paris,
London, Geneva, and Zurich.
The sector
has gradually been opened to foreign legal firms as well.In 2008, Singapore grantedQualifying Foreign Law
Practice licenses to
six foreign law firms (including two U.S. firms) to practice Singapore
law,
although restrictions remain in certain areas, including conveyance,
criminal
law, family law, and domestic litigation.Nevertheless, due in large part to Singapore’s
position as a key
financial center in the region, it is expected that strong demand for
legal
services, both foreign and Singapore-qualified, will continue to grow
in the
foreseeable future.
Meetings:
The Committee holds a meeting
and invites a speaker to discuss issues of concern to members on a
monthly basis. For a list of past Legal Committee meetings, click here.
