Working offshore refers to the Cayman Islands, Bermuda and the British Virgin Islands.
These are British Overseas Territories with common law legal systems, meaning it can be an easy move for UK Lawyers.
There are many benefits to making this move. For one, the islands are tax neutral jurisdictions, meaning you won’t have to pay income, capital gains, property or inheritance tax. The climate is tropical and warm all year round, and with the islands being so small there is no long commute. This is not to mention the high gross salaries and an unbeatable work/life balance.
The Legal Market
Law Firms are just as competitive offshore. The offices tend to have smaller teams however, meaning lawyers have the opportunity to gain invaluable experience working alongside partners.
The main practice areas offshore tend to be Corporate/M&A, Funds, Banking and Finance, Dispute Resolution and Insolvency and Restructuring.