International round-up: Global Law firms expand in the Middle East and Asia

Saudi Arabia's reformed Code of Law Practice has prompted some exciting new changes and seen a raft of global law firms opening new offices within the United Arab Emirates in recent months.?

International law firms operating in Saudi Arabia

Renowned for its contributions to oil, tourism and culture, the Saudi Vision 2030 framework aims to diversify the country's economy and bolster public service sectors including healthcare, infrastructure and education. Undoubtedly, this will create a host of opportunities for foreign law firms to advise on Saudi legal issues.

The growth potential for Saudi Arabia is tremendous with the country achieving the top spot on the global leaderboard for fastest-growing major economies.

Investing heavily in international projects and new infrastructure, the country is making radical changes away from the oil and gas projects that the country has previously profited from.

Action in China?

Another Middle Eastern country which has seen rapid movement is China, in particular the city of Shenzhen which headquarters many of China's largest technology and life sciences companies. The city is tipped to be one of the greatest contributors to global GDP by 2030 with many influential businesses and startups making it their home.

The reopening of China's borders following years of strict COVID-19 restrictions has seen the country thrive and businesses become established in a variety of key sectors, including life sciences, technology, gaming, e-sports, automotive and energy. The country has expressed a keen interest in pursuing digital innovations and there appears to be plenty of opportunity for talented legal experts to support it in its endeavours.?

Leading firms are expanding into these areas

Many high-profile international law firms have set up offices in these thriving metropolises in recent months, including Bird & Bird who have established a Shenzhen office which will work closely with other branches of the firm's international network, capitalising on Intellectual Property practice, commercial litigation and infrastructure and projects work.

Kirkland & Ellis has opened an office in Riyadh focusing on mergers and acquisitions, joint ventures and corporate matters. They intend to focus their practice on supporting their clients in conducting business with Saudi Arabia.?

Squire Patton Boggs is another firm that is exploiting the many opportunities that the Middle East and Asia are offering, having recently set up shop in Beirut. The office will support the firm's Middle East expansion strategy and allow the firm to operate effectively across the Gulf.

Quinn Emanuel opened a new office in Beijing earlier this year and has applied for a Foreign Law Practice licence in Singapore, which if granted would see them aggressively pursue the opportunities offered by the United Arab Emirates. The firm plans to launch offices in Dubai and Abu Dhabi as well, capitalising on their established relationship with the UAE which has to date been conducted remotely.

Finally, Cooley has established an international presence, having recently opened a new Miami office from which they will provide legal advice on technology and venture capital markets, supporting investors both within Florida and wider across Latin America. The firm plans to specialise in the regulatory and compliance challenges associated with conducting business across global markets.

In conclusion, talented legal practitioners considering a move overseas would be well placed to make enquiries as to the opportunities offered by these ambitious overseas expansions, as they will require the support of specialist and multi-disciplinary lawyers and in particular those with existing cross-border experience.

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