The 2018 Global In-House Report is an overview of hiring trends from a variety of sources, from the local knowledge of experienced consultants to our regional salary guides through to general market sentiment derived from interviews with senior contacts.
Below is an extract from the Singapore section. The full report contains market insights for Germany, Italy, the Middle East, Turkey, South Africa, China, Hong Kong, the United Kingdom and North America.
Singapore's Legal Market
Singapore the sovereign city-state and island country in Southeast Asia is renowned for its well-developed free market economy that is based primarily on trade, finance and manufacturing. The roots of Singapore’s legal system can be traced back to the English legal system and its economic success is built on the stability and fairness of its legal rules. Singapore sits at the very top of the World Bank’s global ratings - No. 1 of 189 countries - for its effectiveness in enforcing contracts and protecting minority investor rights.
Singapore’s central location in Southeast Asia makes it a physical and metaphorical gateway to the continent’s 3 billion people. In contrast to many countries in South East Asia where a byzantine and corrupt legal system can stifle business with over-regulation, the Singapore legal system encourages business with reasonable laws, the fair application of those laws, and quick dispute resolution.
The legal market in Singapore continues to develop, thanks largely to the Singapore government’s initiatives to grow the sector and invest in the infrastructure that supports
it. A liberalization of the market that enables international law firms to provide Singapore law advice, has encouraged them to grow their presences in the jurisdiction.
The legal profession consists of over 5,000 qualified Singaporean lawyers and over 1,200 foreign qualified lawyers. All foreigners who intend to work in Singapore must have a valid work permit before they begin. There has been a shift in recent years to hire more Singapore lawyers with the tightening of foreigner hiring rules making it more difficult to hire expat lawyers.