Setting up an ABS firm - CILEx Regulation

Tag:Abs Law Firm

Tag: Abs Law Firm

 

Setting up as an ABS allows a firm to have non-lawyers in its ownership and management structure. This can bring in key people with valuable experience and skills. The non-lawyer can be involved through investment or as a partner or director.

Abs Law Firm

 

An ABS arrangement can work well where:

 

  • an established lawyer-owned firm wants to take on a non-lawyer partner
  • an established law firm wants its non-lawyer practice manager to become a co-owner
  • a non-legal business sees legal services as complementary and sets up a standalone business

 

We welcome applications from prospective firms whose:

 

  • legal services are connected to the firm’s core business
  • legal services are ringfenced in a separate company
  • head of legal practice is a manager or owner

For more information please contact Giles Probert on 01234 845 759 or at giles.probert@cilexregulation.org.uk

 

Or read more about our basic principles for applicant firms


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