NEW DELHI: The Bar Council of India (BCI) has decided to allow foreign lawyers and law firms to practise foreign law in India on a reciprocal basis. The decision is aimed at aiding the growth of the legal profession in India and benefiting Indian lawyers.
The BCI has allowed foreign lawyers and/or foreign law firms to practise transactional work /corporate work such as joint ventures, mergers and acquisitions, intellectual property matters, drafting of contracts and other related matters on a reciprocal basis. It has, however, barred them from involving or doing any work pertaining to the conveyancing of property, title investigation, or other similar works.
According to the BCI rules, a foreign lawyer or a foreign law firm shall not be entitled to practise law in India unless he/it is registered with the BCI. This prohibition will not apply to law practice by a foreign lawyer or foreign law firm in case such practice is done on a “fly in and fly out basis”, which does not in aggregate exceed 60 days in any period of 12 months.
In the case of individual registration, foreign lawyers will have to pay $25,000. However, in the case of a firm, private limited partnership, company, Limited Liability Partnership (LLP) etc, the registration will be $50,000.
BCI has said these rules will also help in making India a hub of international commercial arbitration.
“We sleep over the matter, the legal fraternity of India may be left behind in providing professional expertise in accordance with the rule of law in a manner consistent with the best interests of this fast-growing class of clients,” the regulatory body said.