In what could well be a major shake-up of the global legal services landscape, the Bar Council of India (BCI) has decided to allow foreign law firms and lawyers to practise in the country — a move that is “hugely exciting” for global firms that operate in Australia, with some now considering their options.
The new rules
In its Bar Council of India Rules for Registration and Regulation of Foreign Lawyers and Foreign Law Firms in India, issued on Wednesday (15 March), the BCI moved to enable international practices solicitors and arbitrators to advise in the world’s most populous country.
As reported by India-based legal publication Bar and Bench, the newly issued rules note that the “time has come to take a call on the issue”.
“[The] Bar Council of India is of the view that opening up of law practice in India to foreign lawyers in the field of practice of foreign law; diverse international legal issues in non-litigious matters and in international arbitration cases would go a long way in helping legal profession/domain grow in India to the benefit of lawyers in India too,” it said.
Under the new rules, foreign firms and lawyers will only be entitled to practise in the country via registration with the BCI (which will cost $25,000 per lawyer and $50,000 per firm and be valid for five years), while “fly in, fly out” practitioners will not be able to operate in the country for more than 60 days within a 12-month period.
The development will be “mutually beneficial” for Indian lawyers and those from abroad, the BCI said.
“These rules will also help to address the concerns expressed about flow of foreign direct investment in the country and making India a hub of international commercial arbitration … let us ensure that an opportunity for creating development and growth for the legal profession and in the legal sphere in India is not lost,” it outlined.
How BigLaw firms are reacting
In statements issued after the announcement, global law firms with Australian presences welcomed the development, with some noting they are now considering their options.
Dentons global chief executive Elliott Portnoy said: “India is of enormous economic and strategic importance to our clients, and a country with outstanding legal talent, which led Dentons to become the first global law firm to announce a combination last October with a leading law firm in India.”
As reported by Lawyers Weekly, Dentons earlier this week unveiled a new combination with Philippine firm PJS Law, which followed its combination with Link Legal in India late last year.
“We look forward to working closely with our new colleagues at Link Legal, and to continuing to meet the needs of our clients in India and around the world,” Mr Portnoy said.
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