September 5, 2016
In recent months the Offshore market has continued to thrive, attracting top city lawyers from around the globe. From juniors launching their careers to senior associates taking the next step in theirs, a move Offshore has long been viewed as a way to accelerate your experience and prospects at any level.
There are generally three key motivations that drive a move Offshore; lifestyle, remuneration and quality of work. With its sunshine, white sandy beaches, and low tax regimes, the first two points require little elaboration however for many associates the quality of work on offer is crucial and often warrants further investigation.
How does Offshore work differ from Onshore work?
For some, the prospect of leaving behind familiar legislation in exchange for a new set of statutes can be a little daunting. The vast majority embrace this as an exciting new challenge whist also finding comfort in that fact that Offshore legislation has a great deal of synergy with that of the UK. For example, the Companies (Jersey) Law 1991 is largely based on the English Companies Act 1985.
Given that teams Offshore are generally smaller than those in London, associates are given greater levels of responsibility and have the opportunity to develop a broad range of experience. Business development is also a core focus within their practices.
On a day to day basis, associates are able to work on a wide range of multi-jurisdictional transactions at any one time with Blue Chip clients on high profile transactions which regularly hit the headlines, providing advice on the offshore aspects of these deals. Generally, their onshore counterparts on these matters will be large Magic / Silver Circle and international law firms so despite their physical distance from the City, they remain very much connected and are an integral part of the transaction.
Following the fallout from Brexit, our clients across the Caribbean and Channel Islands continue to attract top city associates and expect to further increase head count this year in order to maintain their leading market positions.
If you would like to discuss the market further, please get in touch at [email protected] or on 02070020143