Where Worlds Meet
Singapore is a sunny, cosmopolitan city-state in South-east Asia, off the southern tip of the Malay Peninsula.
Comprising 63 islands at 721.5 square kilometres, its mainland is home to more than five million people of four major communities; Chinese, Malay, Indian and Eurasian.
Since its independence in 9 August 1965, Singapore has adopted a parliamentary democracy system. The government and the cabinet are helmed by Prime Minister Lee Hsien Loong while President Halimah Yacob is Singapore’s President.
Ideally positioned in South-east Asia, Singapore is a thriving metropolis offering a fully integrated island-wide transport network, world-class infrastructure, dynamic business environment and vibrant living spaces.
Singapore’s rich and unique culture draws from its variety of ethnic communities, each offering different perspectives of life in Singapore in terms of culture, religion, food, language and history.
Ranked fourth globally according to the 2018 Global Financial Centres Index (GCFI) survey, Singapore is also positioned as a regional gateway for Renminbi (RMB) with liquid capital markets. Its strategic location makes it the preferred choice for businesses.
Singapore’s Legal Industry
Singapore is home to top international law practices, its law practices among the largest in the region, with strong regional expertise. It has developed strong capabilities across a wide range of practice areas such as debt restructuring and dispute resolution.
Singapore has launched various programmes such as the public sector transformation and initiatives to promote a conducive environment for innovation and encourage the development of legal tech and other advancements in law.
International Dispute Resolution Hub
Singapore is recognised today, as the 3rd most preferred seat of arbitration globally, having introduced sound and progressive legislation for dispute resolution, including a framework for third-party funding in international commercial arbitration.
Arbitral awards, court judgments and mediated settlement agreements in Singapore have the advantage of enforceability, as Singapore has ratified the New York Convention on the Cross-Border Enforceability of Arbitral Awards, the Hague Convention on Choice of Court Agreements; while its Mediation Act provides for mediated settlement agreements to be recorded and enforced as court orders.
Singapore also has a full suite of dispute resolution institutions to meet the needs of users. These include the Singapore International Arbitration Centre (SIAC), the Singapore International Mediation Centre (SIMC), the Singapore International Commercial Court (SICC) and Maxwell Chambers, the world’s first integrated dispute resolution complex.