Singapore’s Ministry of Law has granted four international law firms qualifying foreign law practice (QFLP) licences, enabling them to advise on Singapore law matters in specific areas. The successful applicants – Gibson Dunn & Crutcher, Jones Day, Linklaters and Sidley Austin – were among 23 foreign law practices that submitted applications in July and August last year.
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The licences allow firms to practise in the areas of corporate M&A, private equity, project finance, banking and finance, capital markets, energy, international arbitration, intellectual property, fund formation and restructuring. The licences are valid for an initial period of five years.
“We are delighted to be awarded the QFLP licence,” said Sushma Jobanputra, partner-in-charge of Jones Day’s Singapore office. “With the continued growth of Asian economies – particularly emerging markets in India and Southeast Asia – we not only see a substantial increase in the frequency and complexity of transactions negotiated from Singapore, but also our Singapore office taking a leading role in the development of our overall Asia practice.”
Jones Day has almost 30 lawyers in its Singapore office, which opened in 2001.
Ken Doran, the chairman and managing partner of Gibson Dunn & Crutcher, said the firm was “excited to be among this elite group of international law firms permitted to practise Singapore law”. The firm established its Singapore office in 2008 and has 10 lawyers with US, English and Indian law capabilities.
Linklaters has 42 lawyers in Singapore, while Sidley Austin has 11.
The first round of QFLP licences were awarded in 2008. Six firms – Allen & Overy, Clifford Chance, Herbert Smith, Latham & Watkins, Norton Rose and White & Case – received licences that year.
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