Singapore Eyes Profit Sharing To Build Ties With Foreign Firms

Law360, New York (February 15, 2012, 11:09 PM EST) -- The Singapore Ministry of Law on Tuesday proposed changes to the nation-state’s legal practices to allow foreign law firms to share profits and invest in equity shares in Singapore law firms as part of a strategy to promote expansion opportunities in the country.

Under the new rules, foreign law firms can take up to a 33 percent share in the profits and equity of their Singaporean counterparts, according to a statement by the Southeast Asian nation’s law ministry Tuesday.

“The legal services market today is a...
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