Offshore financial centres worldwide have made relentless efforts to attract foreign business, and outward-looking Asian companies have responded to this demand by setting up overseas entities. However, finding the right legal team is daunting. Asia’s top asset management groups, hedge funds, private equity and venture capital businesses domicile their funds in offshore financial centres due to the operational efficiencies, reduced taxes, greater privacy, progressive legislation and more corporate flexibility. Offshore environments are also friendlier towards corporations seeking US and Asian stock market listings, and individuals establishing investment funds and asset protection. With the rising adoption of cryptocurrencies and special purpose acquisition companies (SPACs), offshore jurisdictions are gearing up to offer businesses a well-fitted infrastructure plan to maximise capital. However, each offshore financial centre has unique regulatory frameworks that suit certain purposes better for rolling out bespoke due diligence. Against this backdrop, Asia Business Law Journal presents its A-List of the top offshore lawyers (see the list of all 50 lawyers and the key practice areas they endorsed following this article). The list is based on extensive research conducted and nominations received from in-house counsel in Asia, and Asia-focused partners from domestic and international law firms. Comments submitted to Asia Business Law Journal suggest that clients look for responsive lawyers who work very flexibly, adapt to the needs of different matters, and can integrate knowledge and advice from various offshore jurisdictions governed by different laws. More than half (58%) of the A-List lawyers are based in Hong Kong, best known for its finance industry. The percentage of lawyers based in the Cayman Islands comes in second at 18%. The Cayman Islands is renowned for offshore company formation with a history as an offshore haven for more than 50 years. Singapore is Asia’s fast-growing commercial centre and a promised land for tech startups, with 10% of our A-List lawyers based there. Meanwhile, 8% and 6% of these lawyers are based in the British Virgin Islands (BVI) and Bermuda, respectively. Making the way to the top is tough in the competitive offshore legal industry, but some have made a real name for themselves, leading their offices and practices.
Related: India Merger and Acquisition Laws Explained
Geographic distribution on the list
Offshore financial centres worldwide have made relentless efforts to attract foreign business, and outward-looking Asian companies have responded to this demand by setting up overseas entities. However, finding the right legal team is daunting. The A-List reflects the current situation of legal services in these hubs. Hong Kong hosts the largest concentration of professionals, with more than half of the list based there, mirroring the city’s status as a major finance centre.
The Cayman Islands follow with 18% of the lawyers. This figure reflects the jurisdiction’s long history as a hub for offshore company formation. Singapore accounts for 10% of the ranking. It serves as a commercial centre for technology startups. Meanwhile, the British Virgin Islands (BVI) and Bermuda make up 8% and 6% of the total, respectively.
Related: Proya takes stake in Flower Knows
Given the rise of special purpose acquisition companies and cryptocurrencies, offshore jurisdictions are focusing on infrastructure that supports capital raising. However, regulatory frameworks in these centres vary significantly, meaning clients must find lawyers who understand the specific requirements of their situation.
Related: AI Hiring Bias Threatens Employers More Than Expected
Client feedback and recommendations
Client comments submitted to Asia Business Law Journal suggest that firms look for lawyers who work flexibly and adapt to different matters. Paul Christopher, managing partner at Mourant in Hong Kong, was described by James Thomson, head of financial sponsors at Natixis, as a “stand-out figure in Asia for offshore legal work.” Thomson noted that with more than 20 years of experience, Christopher is “well known and recognised for his high-quality offshore legal advice,” particularly in private equity.
