Maples and Calder, the offshore law firm, have opened a full service law office in Dubai, which has ambitions to become a major fund centre.
The firm says the move reflects the growth of Dubai both as an investor market and as an onshore/offshore capital market, following the introduction of a regulatory framework for the Dubai International Financial Centre (DIFC).
Maples and Calder – which specialises in the practice of British Virgin Islands, Cayman Islands and Jersey law – says the Dubai office will be located in the Dubai International Finance Centre and will be headed up by full-time resident partner, Tahir Jawed.
The office will provide multi-jurisdictional offshore advice in the firm’s specialist areas: hedge and mutual funds, private equity transactions, structured and asset finance, corporate law and trusts for high net worth individuals.
“We have been impressed by the increase in transactional flow from the region over the past two years, particularly to our London office,” explains senior partner Tony Travers. “Our objectives remain the same; to deliver the highest quality advice within the most effective business model. A fully-staffed legal presence in the region is therefore the logical step and in Tahir Jawed we have absolutely the right man for the job.”
Maples and Calder opened offices in Jersey and the British Virgin Islands in September 2004, as part of a programme to establish the firm in all the major offshore jurisdictions. The firm says its Hong Kong and London offices have doubled in size in the past twelve months and eleven additional lawyers will join the Cayman Islands office this year. Over the past two years the firm globally has doubled in size and now employs 125 lawyers.
The official opening of the Dubai office will be on Monday 26 September.