India To Allow Foreign Law Firms To Set Up Offices In Country
NDTV
The Bar Council of India in new rules issued on Wednesday said foreign lawyers and law firms can also advise on international arbitration cases on a reciprocal basis.
India will allow foreign law firms to set up offices in the country to offer corporate law and M&A services to clients, a major move seen as reshaping the landscape of a sector long dominated by local firms.
The Bar Council of India in new rules issued on Wednesday said foreign lawyers and law firms can also advise on international arbitration cases on a reciprocal basis, meaning lawyers from only those countries which allow similar opportunities to Indian lawyers can practice in India.
Foreign lawyers, however, will only be allowed to advise on foreign or international laws and not be permitted to appear before any Indian courts, tribunals or regulatory authorities, the rules stated.
"They shall be allowed to practice on transactional work/corporate work such as joint ventures, mergers, and acquisitions, intellectual property matters ... on (a) reciprocal basis," the rules stated.
