The rivalry between Hong Kong and Singapore is legendary, spanning everything from Disneyland versus Universal Studios to Cathay Pacific versus Singapore Airlines. This competition also extends to their legal systems and markets, where both cities present intriguing similarities and differences.
Common Ground: Strong Legal Foundations
Both Hong Kong and Singapore operate as common law jurisdictions with well-developed and efficient legal systems. Situated in strategic locations, they boast world-class legal infrastructure and dynamic legal communities. Furthermore, both cities house top-tier law schools and are recognized as prominent international dispute resolution hubs.
Global Arbitration Leaders
Hong Kong and Singapore, alongside London, are consistently ranked among the top three preferred locations for international arbitration. This highlights their commitment to providing a reliable and effective environment for resolving cross-border disputes, according to a recent survey.
Distinct Approaches: Courts and Legal Professionals
Singapore established the Singapore International Commercial Court in 2015, drawing on a diverse and respected panel of international and local judges. Hong Kong's Court of Final Appeal benefits from the contributions of judges from other common law jurisdictions, who serve as overseas non-permanent judges, enriching the development of common law principles.
While both legal markets are vibrant, Hong Kong boasts a slightly larger pool of legal professionals. Singapore is home to approximately 7,400 lawyers, including around 1,200 registered foreign lawyers. Hong Kong's legal landscape is divided, comprising roughly 1,700 barristers, over 11,000 solicitors, and approximately 1,600 registered foreign lawyers.
Learning from Each Other: The Key to Progress
Despite the ongoing competition, there's significant potential for legal professionals in Hong Kong and Singapore to learn from one another. By sharing best practices and fostering collaboration, both cities can further enhance their legal systems and solidify their positions as global leaders in law and dispute resolution. The focus should be on leveraging each other's strengths for mutual benefit rather than solely on rivalry.