Foreign equity is limited to one-third of voting rights in law firms providing Singapore law-related legal services in all areas of legal practice. Foreign equity in other Law Practice types (e.g. Foreign Law Practice) is possible without limitations, but these may only engage in Singapore law-related legal services in the “permitted areas of legal practice” through certain types of registered lawyers (e.g. in the context of international commercial arbitration). Hence, foreign ownership is limited to one-third in any law firm that engages in full domestic law counselling and court representation.
"Privileges and conditions relevant to Qualifying Foreign Law Practice licence
57.—(1)  A Qualifying Foreign Law Practice must not practise Singapore law except — [...]
2)  Despite paragraph (1), a Qualifying Foreign Law Practice may do all or any of the following through an individual in paragraph (3):
(a) appear and plead in any relevant proceedings;
(b) appear and plead in the Court of Appeal or the Appellate Division of the High Court in any relevant appeal;
(c) represent any party to any relevant proceedings or relevant appeal in any matter concerning those proceedings or in that appeal (as the case may be);
(d) give advice, prepare documents and provide any other assistance in relation to or arising out of any relevant proceedings or relevant appeal.
(3)  For the purposes of paragraph (2), the individual is —
(a) a solicitor registered under section 36E of the Act who practises in the Qualifying Foreign Law Practice; or
(b) a foreign lawyer granted full registration under section 36P of the Act who —
(i) is also registered under section 36B or 36C of the Act; and
(ii) practises in the Qualifying Foreign Law Practice.
(4) Despite paragraph (1), a Qualifying Foreign Law Practice may do all or any of the following through a foreign lawyer granted restricted registration under section 36P of the Act who is also registered under section 36B or 36C of the Act and practises in the Qualifying Foreign Law Practice:
(a) appear in any relevant proceedings, solely for the purposes of making submissions on such matters of foreign law as are permitted by the Singapore International Commercial Court, the Court of Appeal or the Appellate Division of the High Court, in accordance with the Rules of Court (Cap. 322, R 5);
(b) appear in the Court of Appeal or the Appellate Division of the High Court in any relevant appeal, solely for the purposes of making submissions on such matters of foreign law as are permitted by the Singapore International Commercial Court, the Court of Appeal or the Appellate Division of the High Court, in accordance with the Rules of Court;
(c) give advice and prepare documents, solely for the purposes of making submissions, in any relevant proceedings or relevant appeal, on such matters of foreign law as are permitted by the Singapore International Commercial Court, the Court of Appeal or the Appellate Division of the High Court, in accordance with the Rules of Court." (Legal Profession (Law Practice Entities) Rules 2015, last amended 2 January 2021)
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"PART 1 - PRELIMINARY [...]
Interpretation
2.—(1)  In this Act, unless the context otherwise requires — [...]
“foreign law practice” means a law practice (including a sole proprietorship, a partnership or a body corporate, whether with or without limited liability) providing legal services in any foreign law in Singapore or elsewhere, but does not include a Singapore law practice; [...]
“Singapore law practice” means — (a) a law firm; (b) a limited liability law partnership; or (c) a law corporation; [...]
“practise Singapore law” means doing work, or transacting business, in relation to the laws of Singapore, being work or business of a kind that is the right or privilege of an advocate and solicitor under Part IV;
[...]
Registration of foreign lawyer to practise both Singapore law and foreign law in Singapore
36B.—(1) An application may be made for a foreign lawyer to be registered under this section, if the foreign lawyer possesses such qualifications and satisfies such requirements as may be prescribed. (2) The Director of Legal Services may approve an application under subsection (1), and register a foreign lawyer to practise both
Singapore law and foreign law in Singapore, subject to — (a) such conditions as may be prescribed; and (b) such conditions as the Director of Legal Services may think fit to impose in any particular case. (3) A foreign lawyer who is registered under this section shall be entitled — (a) notwithstanding anything to the contrary in Part IV —
(i) to practise Singapore law in, and only in, the permitted areas of legal practice; and (ii) to recover costs and retain payments in respect of such practice; and
(b) to such other privileges as may be prescribed.
[...]
Division 4 — Joint Law Ventures, Formal Law Alliances, Foreign Law Practices, Representative Offices and Foreign Interests in Singapore Law Practices
Interpretation of this Division
168.—(1)  In this Division, unless the context otherwise requires, “permitted areas of legal practice” means all areas of legal practice other than any area of legal practice prescribed as an area to be excluded from the ambit of this definition.[...]" (Legal Profession Act, Chapter 161)
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"PART 1 - PRELIMINARY [...]
Threshold requirements for Singapore law practice
3.—(1)  Every Singapore law practice must satisfy all of the following requirements (called in these Rules the general threshold requirements): [...] (b) the number of solicitors who are partners, directors or managers (as the case may be) of the Singapore law practice is at least 2 times the total number of regulated foreign lawyers (if any) who are partners or directors (as the case may be) of the Singapore law practice; [...] (d) the regulated foreign lawyers (if any) who practise in, who are directors, partners or shareholders in, or who share in the profits of, the Singapore law practice, and the foreign law practices (if any) which have approval under section 176(9) of the Act to be shareholders in or to share in the profits of the Singapore law practice, collectively — (i) are entitled to exercise or control the exercise of not more than one‑third of the total voting rights exercisable in respect of the management of the Singapore law practice; (ii) are entitled to exercise or control the exercise of not more than one‑third of the total voting rights exercisable by the partners or shareholders (as the case may be) of the Singapore law practice; and (iii) hold not more than one‑third of the total value of equity interests in the Singapore law practice;
[...]
Permitted areas of legal practice
50.—(1)  For the purposes of the definition of “permitted areas of legal practice” in section 168(1) of the Act, the areas of legal practice to be excluded from the ambit of that definition are as follows: (a) constitutional and administrative law; (b) conveyancing; (c) criminal law; (d) family law; (e) succession law, including matters relating to wills, intestate succession and probate and administration; (f) trust law, in any case where the settlor is an individual; (g) appearing or pleading in any court in Singapore, representing a client in any proceedings instituted in such a court or giving advice, the main purpose of which is to advise the client on the conduct of such proceedings, except where such appearance, pleading, representation or advice is otherwise permitted under the Act or rule 52(3) to (6), 57(2), (3) and (4) or 59(6), (7) and (8) or any other written law; (h) appearing in any hearing before a quasi-judicial or regulatory body, authority or tribunal in Singapore, except where such appearance is otherwise permitted under the Act or any other written law.
[...]
Privileges and conditions relevant to Qualifying Foreign Law Practice licence
57.—(1)  A Qualifying Foreign Law Practice must not practise Singapore law except — (a) in the permitted areas of legal practice; and (b) through a solicitor registered under section 36E of the Act, or a foreign lawyer registered under section 36B of the Act, who practises in the Qualifying Foreign Law Practice. 
(2)  Despite paragraph (1), a Qualifying Foreign Law Practice may do all or any of the following through an individual in paragraph (3): (a) appear and plead in any relevant proceedings; (b) appear and plead in the Court of Appeal in any relevant appeal; (c) represent any party to any relevant proceedings or relevant appeal in any matter concerning those proceedings or in that appeal (as the case may be); (d) give advice, prepare documents and provide any other assistance in relation to or arising out of any relevant proceedings or relevant appeal." (Legal Profession (Law Practice Entities) Rules 2015)
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"Type of Licence or Registration / Description
-Singapore Law Practice – Law Firm, Limited Liability Law Partnership or Law Corporation (Sections 131, 138 and 153 of the Legal Profession Act (Cap. 161): A Singapore Law Practice (“SLP”) is allowed to provide in or from Singapore: Singapore law-related legal services in all areas of legal practice; and Foreign law-related legal services in all areas of legal practice that the SLP is competent to offer. [...] An SLP must satisfy the threshold requirements set out in rule 3 of the Legal Profession (Law Practice Entities) Rules 2015 for so long as its licence remains in force.  The threshold requirements include limits on the number of foreign lawyers who can practise in, or be directors, partners or shareholders in, or share in the profits of, the SLP.
-Foreign Law Practice (Section 172 of the Legal Profession Act (Cap. 161): A Foreign Law Practice (“FLP”) is allowed to provide in or from Singapore: Foreign law-related legal services in all areas of legal practice that the FLP is competent to offer; and Singapore law-related legal services only in the limited context of international commercial arbitration or in relation to the Singapore International Commercial Court (“SICC”), through certain types of registered lawyers. 
-Qualifying Foreign Law Practice (Section 171 of the Legal Profession Act (Cap. 161)): The Qualifying Foreign Law Practice (“QFLP”) scheme was introduced in 2008, and allows foreign law practices which obtain a QFLP licence to provide in or from Singapore:  Foreign law-related legal services in all areas of legal practice that the QFLP is competent to offer; and Singapore law-related legal services in the “permitted areas of legal practice” through certain types of registered lawyers. The QFLP licence is awarded after an application and selection process. The QFLP scheme is not open for application currently and there are no details available regarding further rounds of applications.
-Joint Law Venture (Section 169 of the Legal Profession Act (Cap. 161)): A Joint Law Venture (“JLV”) is a legal entity formed between a Singapore Law Practice (“SLP”), and either a Foreign Law Practice (“FLP”) or a Qualifying Foreign Law Practice (“QFLP”). A JLV is allowed to provide in or from Singapore: Foreign law-related legal services in all areas of legal practice that the JLV is competent to offer; and Singapore law-related legal services in the "permitted areas of legal practice" through certain types of registered lawyers. However, it should be noted that the constituent FLP/QFLP can only practise law in or from Singapore through the JLV, and not through the constituent FLP/QFLP.[...]" (Ministry of Law, Types of Licence or Registration, Website: Home>Law Firms>Licensing or Registratrion of Law Practice Entities>Types of Licence or Registration) 
Legal Profession (Law Practice Entities) Rules 2015, last amended 2 January 2021
Legal Profession Act, Chapter 161
Legal Profession (Law Practice Entities) Rules 2015, Rule 3
Ministry of Law, Types of Licence or Registration, Website: Home>Law Firms>Licensing or Registratrion of Law Practice Entities>Types of Licence or Registration).
[<a href="https://sso.agc.gov.sg/SL/LPA1966-S699-2015/Historical/20210102?DocDate=20220401&ValidDate=20210102&ProvIds=P16-&Timeline=On#pr57-">Rule</a>],[<a href="https://sso.agc.gov.sg/Act/LPA1966#pr36B-">Act</a>],[<a href="https://sso.agc.gov.sg/SL/LPA1966-S699-2015">Rule</a>],[<a href="https://www.mlaw.gov.sg/content/minlaw/en/legal-industry/licensing-or-registration-of-law-practice-entities0/types-of-licence-or-registration.html">Webpage</a>]