Top law firms make a beeline for Dubai – Industry News

Some of India’s leading law firms are making a beeline for the UAE in search of a pie in the $3.5-billion legal services market. The country, which has of late emerged as a gateway to the MENA (Middle East and North Africa) region, has positioned itself as a prominent financial and logistical centre for global enterprises, resulting in a heightened demand for various legal services, including corporate, commercial, dispute resolution, and tax advisory practices.

Currently the Arabic nation has top firms like Cyril Amarchand Mangaldas (CAM) which set up an office in the Abu Dhabi Global Market finance city in 2024, Kochar & Co which has been there for some years, and mid-sized firms including AKS Partners, Goswami & Nigam, Singularity Legal, and Parin Legal. This year several top names including Shardul Amarchand Mangaldas (SAM), Khaitan & Co and Luthra & Luthra are also planning to enter the booming market.

Pallavi Shroff, managing partner of SAM, said the firm is “in an early exploratory phase” and is scouting for tie-ups with local law firms in the UAE which are domain specialists. What is making it easier for these firms is that even seasoned lawyers from India are willing to relocate to the UAE. “The UAE is gradually modernising its legal system, allowing more foreign lawyers to practice in certain areas,” Shroff said, adding that “the region offers a high standard of living, world-class infrastructure, safety, and a cosmopolitan environment, making it an attractive destination for Indian lawyers”.

The significant improvement in bilateral ties between the UAE and India is also a big draw. Santanu Ghosh, a senior partner with ANB and also managing partner of Lex Ensemble FZ, a UAE-based boutique firm, said, “I am inundated by queries from venture capitalists, portfolio management companies and mutual funds from India wanting to enter the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM).” According to rough estimates, a fifth of lawyers in UAE firms are Indians. Indian lawyers are employed by both foreign and local law firms in the UAE and also as in-house general counsels with companies.

Post the G20 summit held in India in 2023, big Indian companies like Reliance Industries, Adani Group, Larsen & Toubro (L&T), and ReNew Energy Global are making significant investments in the region for the proposed India-Middle East-Europe Corridor which is expected to generate big ticket projects, especially in the infrastructure and legal technology space.

Hemant Batra, head & senior legal consultant at SAM for new ventures and growth, said, “I have been identifying opportunities in the UAE over the past two years.” Asked about the spike in interest for the UAE among Indian legal firms, Batra said, “It’s an inevitability. With so many top Indian companies entering the region, no legal firm worth its name can afford to stay out of this area.”

Harry Chawla, managing partner of Luthra & Luthra, agrees that there’s a rush for the UAE. “We have lost two senior lawyers just over the past month who have bagged great jobs in the UAE. It is a well-known fact that lawyers generally follow their clients and work opportunities that this creates. Indian corporates obviously would have a comfort level with Indian law firms.” He also said his firm is looking at Dubai specially for arbitration and infrastructure projects. “We are currently working with many law firms in Dubai and may, at a later stage, consider a full-fledged office there.”

The ease of doing business in UAE and the significantly low costs involved for clients and lawyers are also a major consideration that law firms are factoring in. “Conducting business in London and New York is prohibitively expensive. While Singapore International Arbitration Centre emerged as a cost effective alternative, the cost in Dubai is one third of that. It is not surprising then that UAE scores big specially for arbitration,” opined Batra.

“Foreign lawyers can practise in these jurisdictions without being UAE nationals. Dubai and Abu Dhabi are emerging as leading arbitration centres (DIFC-LCIA, DIAC, ADGM Arbitration Centre), attracting international dispute resolution work. Further, the country is gradually modernising its legal system, allowing more foreign lawyers to practise in certain areas. Absence of  personal income tax too makes it financially attractive for lawyers seeking higher earnings,” Batra concluded.

And with India’s GIFT city arbitration centre still some time away from getting into action, the UAE is not surprisingly the most sought-after destination for Indian law firms. Quipped Ghosh of Lex Ensemble, “Incorporation at GIFT can take over a month while in Dubai you’re good to go in just five days.”

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