November saw London-based Magrath become the first corporate immigration specialist to open a standalone presence in Singapore; Ben Sheldrick and Mark Chowdhry will spearhead the firm’s practice in the city state.
The launch of Magrath Global reflects the eastwards shift of several of the firm’s multinational clients, eager to capitalise on more buoyant markets. ‘Clients have been proactive in asking for this expansion,’ explained Sheldrick. ‘It has been driven by their growing focus on the region.’
Magrath has a long-established reputation in the UK for corporate and business immigration expertise, which was further enhanced by its association with US-based Gibney, Anthony & Flaherty to offer a transatlantic service. Singapore, however, necessitated an on-the-ground presence rather than a best friends-style approach. ‘There are massive compliance issues,’ said Sheldrick, ‘so corporates need good relationships with the relevant government bodies locally; that means the right people in the right place at the right time.’ Recruitment of local law specialists is now well underway and lateral hire announcements are anticipated.
Sheldrick is confident that the strategy offers an attractive, lower-cost option for clients: ‘With clients now setting out roadmaps for further focus in the wider region, we’re confident we’ll maintain the volume of work.’
Recent changes lifting restrictions on foreign firms establishing a presence in Singapore render it the go-to destination for any firm with international ambitions in 2012. That said, additional Magrath Global offices in the so-called Chindia market seem likely.