TRAusOverseasGuide

8/3/2019 TRAusOverseasGuide

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A LAWYERS GUIDE TOWORKING OVERSEAS

www.taylorroot.com.au


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A LAWYERS GUIDE TO WORKING OVERSEAS www.taylorroot.com.au

02 9236 9000 03 8610 8400

REFERAFRIEND&receivevouchersw

orth$1,000

We value personal recommendations very highly. I you reer an individual to us, who we successully fnd a new

international position or, we will send youvouchers to the value of $1,000 to use at one o the above compa-

nies as a token o our appreciation. This oer does not apply to the reerral o any candidate already actively

registered with The SR Group.

To fnd out more, please contact us on 02 9236 9000 (Sydney) or 03 8610 8400 (Melbourne).


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Taylor Root is one of the worlds leading specialist legal recruitment consultancies with more than 75 fee

earners globally. Through our offices in Sydney, Melbourne,Hong Kong,Dubai,London,Birmingham,

Manchester, Leeds and Edinburgh,we recruit for law firms, multinational corporations and international

banking groups throughout the world.

For over 18 years, we have been recruiting lawyers across the globe and have acquired significant knowledge of

different jurisdictions. Most of our consultants are qualified lawyers and all our offices keep in regular daily contact in

order to undertake global recruitment campaigns as well as provide advice on the latest opportunities.

This guide provides an overview of the jurisdictions in which we recruit. In these areas, remuneration packages and

standards of living are often compared to London rates as these provide a general benchmark in international

recruitment.

In Australia we have specialist consultants who concentrate exclusively on overseas markets.They regularly visit clients

around the world and will be able to help you make an overseas move as straight forward as possible. Contacts are

listed on the back page.

ABOUT US

BERMUDA

BRITISH VIRGIN ISLANDS

BRUSSELS

CAYMAN ISLANDS

CHANNEL ISLANDS

DUBAI

DUBLIN

EASTERN EUROPE

EDINBURGH

GERMANY

GREECE

HONG KONG

ITALY

LONDON

MOSCOW

NEW YORK

PARIS

SINGAPORE

SPAIN

TOKYO

We recruit lawyers into:


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A LAWYERS GUIDE TO WORKING OVERSEAS

BACKGROUND INFORMATION

You die and go to heaven, Ill stay here in

Bermuda, Mark Twain.

Bermuda is a group of some 130 islands

situated about 650 miles off the coast of

North Carolina. Contrary to perception, it is

not part of the Caribbean. The main island

is about 22 square miles and is blessed with

a semi-tropical climate. Bermuda enjoys one

of the highest standards of living in the

world and is a very attractive tourist

destination.

LAW FIRMS

Bermuda enjoys a reputation as a high

quality jurisdiction for international business

and is the worlds third largest reinsurance

centre. There are three commercial law

firms with the largest having overseas offices

in London, Asia, the Caribbean and the

Middle East.

PRINCIPAL AREAS OF DEMAND

Corporate

Banking & Finance

Trusts

Funds

Commercial Litigation

Insurance Litigation

The firms recruit principally from London

but also from other Commonwealth

jurisdictions. You need at least four years

post-qualification experience to obtain a

work permit. All non-Bermudians must

obtain a work permit. Marriage to a work

permit holder entitles that person to reside

on the island, but not work.

REMUNERATION AND BENEFITS

Salaries in Bermuda are generally high. At the

top firms associates will earn between

US$140,000-$250,000 in their first year. Tax

is minimal at 4.75%. Additionally you receive

relocation, a pension and medical insurance.

OUTSIDE THE OFFICE

Bermuda is one of the worlds leading

holiday resorts and is fantastic for sports

enthusiasts. There are 8 golf courses,

numerous tennis facilities and excellent

cricket, football and rugby facilities. Hockey

and squash are also very popular with a

number of different leagues. There are also

excellent watersports. The majority of

properties are rented. Accommodation can

be expensive and moving into a shared

house is the popular choice for singles. A

shared house with four bedrooms, a pool

and garden will cost approximately

US$1,200 per person per month.A

furnished 2 bedroom flat may cost anything

between US$2,000-$5,000 per month

depending on location.A 3 bedroom house

will cost around US$6,000-$8,000. Scooters

and mopeds are the popular mode of

transport. Bermudas schooling is very good

and is based on the British system. Most

schools are government maintained with afew private schools.

BERMUDA



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The British Virgin Islands are a collection of

40 islands with beautiful beaches and an

efficient infrastructure.They are

approximately 60 miles east of Puerto Rico

in the Caribbean and a 2 hour flight to

Miami. Only a small number of islands are

inhabited. The centre of business activity is

Tortola, the largest of the islands.The success

of the financial sector of the BVI is due

almost exclusively to it being the worlds

leading jurisdiction for international business

companies (IBCs), which are exempt from

BVI taxes.The BVI is now one of the top

offshore jurisdictions.

LAW FIRMS

The BVI has a small number of law firms and

again the legal system is based on English

common law. The BVIs status as a business

centre has significantly increased over the last

few years and has become increasingly

popular as a domicile for the incorporation

of funds. As a result, between 2001 and

2004 most of the major international

offshore firms opened up offices there.


Corporate Funds

Banking & Finance

Trusts


In order to obtain a work permit you must

be qualified in England and Wales so

Australian lawyers will need to sit the QLTT.

Generally the firms wont take lawyers

below 2 years post admission.


Although generous, salaries in the BVI are

lower than the Cayman Islands. This is due

to the fact that charge out rates and the

cost of living are also lower. At one of the

top firms a finance lawyer with 4 years PQE

might expect to earn approximately

US$130,000-$140,000. A senior associate

can now earn in excess of US$250,000. On

December 31st 2004, income tax was

abolished and now employees pay a payroll

tax of 8%.

OUTSIDE THE OFFICE

Perfect beaches, clear blue waters and the

gentle trade winds make the BVI one of the

finest watersports locations in the world. Of

all the offshore locations, the BVI are one of

the most unspoilt destinations with friendly

people, the best sailing waters in the

Caribbean, horseback riding, mountain trails,

outstanding diving on pristine coral reefs and

a number of golf courses. There are also a

variety of pubs and restaurants. The local

schools are good for younger children.

Accommodation is of good quality and is

generally cheaper than the Cayman Islands

and Bermuda.A two-bedroomed apartment

costs from US$1,500 per month. A three-

bedroomed place with a pool will cost

about US$2,400 per month.

BRITISH VIRGIN ISLANDS



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Brussels is a vibrant city in the heart of

Europe. English is widely spoken, but the

citys mother-tongues are really Flemish and

French.Around a quarter of its inhabitants

are ex-pats from across the globe.The

quality of legal practice in Brussels is second-

to-none, being at the cutting-edge of anti-

trust and competition law.

LAW FIRMS

The dominant firms are the UK and US

international firms.There are some local law

firms and other European outfits present;

however, it is the UK Magic Circle and New

York white shoe firms which lead the way. As

an evolving and dynamic jurisdiction, the

landscape relating to whos who regularly

changes with US firms opening up new

offices from time-to-time.

IN-HOUSE

Occasionally, in-house opportunities arise for

lawyers from newly qualified to partner level

in the Brussels offices of financial institutions

and companies.


Principal demand is for EU/competition

law. The work on offer tends to include a

mix of general competition, anti-trust,

cartel, state aid, 'whistleblower' cases and

merger matters.There is some lesser

demand for international trade law and

IP/IT.

Various European languages are desirable;

however, for most positions, perfect

written and spoken English skills are

essential.

There are almost always opportunities for

high calibre candidates.These can vary

from newly qualified to par tner level.To

put you in a strong position, at least a seat

in your training contract (in London or

Brussels) and/or good training post-

qualification is essential. Some experience

with the Commission ('stage') may be

helpful, as is post-graduate study (LL.M) in

the field.


For a common law lawyer, salaries in

Brussels are often equal to those in

London, although this is increasingly less so

due to the recent dramatic salary

increases in London. However, the top UK

and international firms in Brussels do try

to remain on a par with their London

counterparts. A c. 2 year lawyer at a

strong Australian firm, for example, could

expect to be paid the same as their

London peers, depending on the strength

of the Euro.

As in the rest of Europe, generally lawyers

can expect to be paid on a self-employed

basis whereby they submit monthly

invoices for the agreed rate.

The cost of living is considerably lower in

Brussels than London and this should

mean that a common law lawyer should

not be unduly worried by the comparison

in salaries in any event. In particular,

accommodation is particularly cheap

compared to London and the overall cost

of living is typically around 30% below that

in London and this is signigicantly lower

than in Australia.

OUTSIDE THE OFFICE

As a major European capital, you are right

to expect a variety of after-hours pursuits

on your door-step. On the basis of

significantly shorter commute times alone,

you will definitely have more time on your

hands to enjoy them.There are excellent

restaurants and bars and an entertaining

nightlife. Shopping and travel are also well

catered for.

BRUSSELS



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The Cayman Islands are a small chain of

islands lying 500 miles south of Miami. Grand

Cayman is the largest and most significantly

populated of the three islands. It is also the

centre of business activity and home to all

the major law firms and banks. The island

itself is 22 miles long and is probably most

famous for its seven mile beach which is

bordered by palm trees and a crystal clear

blue sea.

LAW FIRMS

The Cayman Islands are the most

sophisticated and successful offshore financial

and business centre.The law firms are staffed

principally by English-qualified lawyers but

also by lawyers qualified in Australia, New

Zealand, South Africa and Canada. The

island has a dozen commercial law firms

ranging from about 90 lawyers in the largest

to a handful in the smallest. Corporate

lawyers usually handle a large number of

transactions at any one time, rather than

being immersed in a major deal for weeks

on end.This is because they are instructed in

relation to a specific part of the transaction

i.e. the Cayman Islands end.


Corporate Finance

Funds

Banking & Finance


Trusts

To obtain a work permit, lawyers must be

admitted for at least three years in a

Commonwealth jurisdiction.


Remuneration in the Cayman Islands tends

to be the highest of all the offshore centres

but does vary from firm to firm. Some firms

pay a straight salary, some a salary plus

commission arrangement and others straight

commission. Salaries are tax free and senior

finance associates can earn between

US$200,000-$450,000 per annum tax free in

the largest firms. It is also common to

receive a pension and health insurance.

OUTSIDE THE OFFICE

The lifestyle enjoyed in the Cayman Islands is

unrivalled, combining quality of work with a

fantastic way of life. Accommodation is very

good and attorneys tend to live in

condominium complexes with shared pools,

tennis courts, gardens etc. Rents vary

according to size and location. A two-

bedroom apartment in such a complex can

range between US$2,300 to US$4,000 per

month. Most lawyers live within a 15-minute

drive to work. The cost of living is high with

the average shopping basket costing about

40% more than Australia generally. For

those with children, the schools up until the

age of 14 are excellent. Older children

usually attend boarding school in Canada or

England. For those who are single, there is a

very active social life with a number of

fantastic bars, restaurants and a small

collection of nightclubs.

CAYMAN ISLANDS



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The legal markets in Jersey and Guernsey

are dominated by a select number of firms.

They tend to focus on the financial services

industry insofar as international common

law lawyers are concerned.They do of

course provide legal services for the local

market, but for lawyers looking to relocate

for the mid to long-term, see below for the

types of specialisations in demand.The firms

will generally hire good quality lawyers at all

levels, although certain issues in relation to

re-qualification must be taken into

consideration for more senior lawyers.

The quality of work on offer and calibre of

your potential peers is excellent. Most of the

lawyers practising there have spent significant

time abroad with leading City or

international firms.The work will be of an

international nature and will stem from a

worldwide client base. Channel Islands firms

tend to be involved in first rate financial and

corporate matters, equivalent to the type of

work available in London-based firms.Work

permits for employment in the Channel

Islands are generally not required for UK,

EEA or Commonwealth citizens (if the

Commonwealth citizen is subject to the UK

ancestry exemption). Otherwise, lawyers

will need a Skilled Worker permit (firmswill normally arrange for any necessary work

permits to be put in place).

LAW FIRMS

There are around 10 major offshore law

firms based in the Channel Islands, with the

larger offices for most tending to be in Jersey.

The vast majority of the firms in the Channel

Islands have impressive offshore networks

and more recently a good number of the

firms have opened up offices in London

(through which they will be doing mainly

offshore work but for a London client base).


Most firms in the Channel Islands are always

on the look out for top quality candidates

from UK or international firms. Of particular

importance to the firms is good academics,

experience from an international or top-

rated firm and a real interest on behalf of

the candidate in living in the Channel Islands.

Specific areas where the firms are always

looking are:

Banking (including Structured Finance,

Capital Markets and Securitisation)

Funds

Corporate/Trusts

Commercial Litigation (particularly Trusts

Litigators)

Pensions/Employment


Salaries in the Channel Islands at the junior

level tend to be slightly lower that in London

in comparison to, say, the Magic Circle rates

although the salaries are regularly

commensurate with top City rates and

sometimes higher for good lawyers.

However, at the more senior end (i.e. from

about 5 years PAE), you can expect to have

a very competitive level of remuneration - in

some cases, firms will match Magic Circlerates or even exceed them.

Tax is significantly lower and is capped at

20%, with National Insurance contributions,

which are similar to medicare contributions,

capped at well below the 10% in the UK.

This low tax means that a position in the

Channel Islands will be at least as financially

favourable as a London-based role and will

involve a significantly better work/life balance.

OUTSIDE THE OFFICE

One of the main selling points for working in

the Channel Islands is the excellent work/life

balance on offer.The working day is generally

between 9am to 6pm and most commutes

to work will involve a simple beach-front

stroll or bike ride. Billable targets also tend

to be a lot less than in the City and the firms

try to generate a real sense of family in the

working environment.

Both islands offer a wealth of outdoor

activity, with particular emphasis on water

sports and other past times that make use

of the fantastic landscape in the Channel

Islands. Jersey has a larger town centre than

Guernsey and is accordingly slightly more

up-beat in terms of nightlife, with several

bars and restaurants. Nightlife in Guernsey

tends to focus on the idyllic St. Peter port,

with a number of fabulous seafront

restaurants from which to choose. Both

islands offer a very relaxed way of life that

is particularly welcoming for families and

young couples.

CHANNEL ISLANDS



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In the space of thirty years, Dubai has

transformed itself from a small fishing village

into a billion dollar economy, having

cultivated a very international and

enterprising environment.

Dubai is now the focus for global financing

activity and is now an extremely popular

tourist destination.

LAW FIRMS

A number of UK and US law firms have

opened offices in Dubai on the back of the

enormous amount of business in the region.

With the number always increasing, there are

currently 26 major international firms in the

region concentrating principally on corporate

and commercial work as well as the regions

finance deals. Work is generally very

interesting and as offices are small by London

standards, the firms want lawyers who are

client-facing, commercially aware and are

prepared to take on responsibility.


Corporate/Commercial

Banking & Finance particularly Projects

Dispute Resolution

Commercial Property

TMT

Construction

Funds

Energy

IN-HOUSE

In addition to international law firms opening

in Dubai, a number of multi-national

corporations and global businesses have

opened branches in Dubai and some have

made it their global headquarters. Companies

are taking advantage of Dubais corporate

friendly tax structures and laws. Furthermore,

Dubai has proven to be a leading centre of

commerce full of high-tech facilities and

technology to accommodate a global

business.This has resulted in the formation of

many in-house legal opportunities.This is a

great time for commercially minded lawyers

to consider an in-house move in the region,

while the economy is booming.


The major international law firms provide a

salary which is set just under the London

gross salary. Firms no longer tend to provide

accommodation or car allowances but will

just offer the lump sum.As the region is tax

free and the standard of living in Dubai is

about 40% lower than Australia, this can be

an attractive proposition.

OUTSIDE THE OFFICE

Living and working in Dubai offers all the

benefits of the Middle East, with none of the

potential drawbacks.The city is very modern

and high-tech and its beaches, water parks,

climate, relaxed lifestyle and superb sporting

facilities are all big attractions. For the more

adventurous, you can try off-roading or dune

bashing, camel riding and sand boarding or

perhaps part with your money shopping at

the world famous souks. Dubai also has

become a mega city of entertainment, filled

with lavish clubs, bars, luxurious hotels,

gourmet restaurants, entertainment

complexes, even an indoor ski arena filled

with artificial snow for those that miss skiing.

A two-bedroom apartment will cost

approximately US $18,000-$20,000 per

annum.The cost of living is generally 40%

lower than major Australian cities. As with

any move abroad, the majority of

opportunities exist in private practice, but

increasingly opportunities do exist in-house

with international corporations seeking to

take advantage of the free trade zones.

DUBAI



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Dublins landscape has undergone a

remarkable transformation following a huge

economic boom over the course of the past

decade. These days, it remains steeped in

history, but is also a thriving capital city and

amongst the top tourist destinations in

Europe. The burst of prosperity it has

experienced has given it a newly

cosmopolitan feel with a plethora of

attractive cafes, bars and restaurants to

choose between. However, with its down-to-

earth and fun-loving population, it remains

one of the friendliest and unpretentious

European cities on the map.

LAW FIRMS

The legal market is dominated by the Big

Five law firms in Ireland. All are full-service

commercial law firms based in Dublin, most

with overseas offices in Europe and the US,

and with the critical mass of fee-earners to

act both on large-scale international

transactions and on smaller domestic deals.

Each has a distinct culture and reputation,

but all have blue-chip clients, a

comprehensive range of legal specialities and

act on key instructions in the Republic.

Although the Big Five lead the field in terms

of fee-earners, the mid-size firms offerconsiderable expertise as well.


Corporate

Finance

Investment Funds

Commercial Property

Projects/PFI

Litigation


Salaries for lawyers in Dublin are lower than

they are in London, with most of the leading

firms paying lawyers approximately one third

less than they would earn in the City.

Tax is paid at the standard rate (20%) up to

the cut-off point. In most cases this will be

up to 32,000.Any income over the cut-off

point is taxed at the higher rate of tax

(42%).The cut-off point can be adjusted for

any non-PAYE income and increased for any

tax relief available at the higher rate of tax.

OUTSIDE THE OFFICE

Dublin is one of Europes most attractive

cities.The river neatly divides the city in half.

Its reputation as Europes party central

though, is largely overblown. It has fabulous

bars, but they are much more sophisticated

than you may have been led to expect. It

also has some world-class restaurants.

Accommodation in Dublin is, however,

expensive with the cost of a 1-2 bedroom

flat in the very centre of town on a par with

London prices.

DUBLIN



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Eastern Europe is regularly defined in a

variety of ways, but is generally agreed to

include: Belarus, Bulgaria, Czech Republic,

Hungary, Moldova, Poland, Romania, Russia,

Slovakia and Ukraine. In recent years, with

the spreading of the European Union, many

countries in Eastern Europe have sharplyincreased their economies, quality of life and

cities.This has also boosted tourism, the film

industry, and even, to a lesser extent,

immigration. Culturally, the area is extremely

diverse and the various business markets

tend to reflect this (although skills are

generally transferable between the different

regions).

LAW FIRMS

Many of the top US and UK international

firms have offices in most, if not all, of the

above jurisdictions.As you would expect, these

firms tend to dominate the local legal markets

in most of the countries, with only a very few

local firms able to compete effectively.

PRINCIPLE AREAS OF DEMAND

Banking & Finance

Corporate

Oil & Gas Projects

Real Estate

It is not always essential to have local

language skills, although any relevant

language skills or prior experience of

working in the area are looked upon very

favourably.


Salary packages do vary enormously, but

you should expect around London rates, or

perhaps slightly lower. Many firms pay a 'net'

salary, plus cost of living allowance and with

some firms you will get a healthy

accommodation allowance.

OUTSIDE THE OFFICE

Life outside of the office in the various

Eastern European jurisdictions is extremely

diverse and varies substantially from area to

area. Cities such as Prague and Warsaw

have recently become social hotspots, whilst

retaining their historical charm and

accordingly, many nightclubs, bars andrestaurants catering for the Western tourist

market have now been established.Whilst

any local language skills are helpful, you will

be able to get by in English in most

destinations.

EASTERN EUROPE



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'Edinburgh, is what Paris ought to be',

Robert Louis Stevenson.

Scotland's cosmopolitan capital city enjoys a

particularly scenic location, surrounded by

volcanic hills and overlooked by its most

famous tourist attraction, Edinburgh Castle.

Stunning, historic architecture and natural

geology combine to create the now famous

Scottish character that Edinburgh upholds.

For a city that's often described as "The

Athens of the North", Edinburgh has a

surprisingly modern feel.

LAW FIRMS

The legal market in Scotland has

traditionally been dominated by the Big

Four of Dundas & Wilson, McGrigors,

Maclay, Murray & Spens and Shepherd &

Wedderburn. However, in recent years,

market share has become more diluted,

with a marked rise in the stature of the

second-tier firms, some of which have

particularly strong practices in sectoral

specialisms and regularly punch above their

weight. In addition, with an increase in the

level of cross-border work being handled

from Scotland and the introduction of

several national firms, Scottish firms are ableto offer a quality and level of work to rival

that of their London counterparts.


Corporate

Banking

Construction

Projects/PFI

Energy/Oil & Gas

Commercial Property


Salaries in Scotland are lower than London

and more on a par with regional UK law

firms, working out at approximately 1/3 less

than London. However, with transport,

housing and schooling costs all considerably

lower, the cost of living and quality of life

more than compensate for any shortfall.

OUTSIDE THE OFFICE

The city's year-round roster of international

festivals and events make Edinburgh a

magnet for world-class culture.With

modern art, new plays and live music, there

is something for everyone.

But for the real heart of Edinburgh, you

have to discover the bars, clubs, restaurants

and cafs.

With an excellent infrastructure in place,

Edinburgh also makes an excellent base to

explore the rest of Scotland, with the likes

of Glasgow and St Andrews a short

commute away.


EDINBURGH



13/24



As the largest financial centre of Germany

and a leading financial centre of Europe,

Frankfurt is among the top cities of the

world financially and economically.The

headquarters of the European Central Bank

is located here, as are over 325 banks,

making Frankfurt an impressive and

imposing city of skyscrapers as well as a

pivotal and exciting city for lawyers to work

in. Situated on the River Main, Frankfurt has

a lot more to offer in terms of numerous

yearly festivals, museums, cathedrals, world

class designer shops and close proximity to

the delightful Rheingau wine region, boasting

some of the best Rieslings in the world.

Berlin is the capital city and one of the

sixteen states of the Federal Republic of

Germany. It is the heart of the Berlin-

Brandenburg metropolitan region, located in

north-eastern Germany.With a population

of 3.4 million, Berlin is the country's largest

city and the second most populous city in

the European Union. International law firms

have started to move back to Berlin, after

several years of absence, particularly in the

Real Estate and Media markets.

LAW FIRMS

Unsurprisingly, it is the leading UK-based

international and Magic Circle firms who are

firmly established in Frankfurt (the biggest of

these being merged German firms),

together with a number of leading US firms

and a fair proportion of lesser known

German firms. Some of the leading firms are

also based in Berlin and niche international

firms are starting to open Media-related

practices there.The work and culture differs

considerably between these firms, with the

German firms' focus being predominantly

on German law led deals rather than a mix

of German and UK/US law.


Whilst there is obviously most demand for

German-qualified lawyers, a handful of the

leading UK-based Magic Circle firms and US

firms have a definite and growing need for

common-law-qualified lawyers in the

following areas (although it is usually a pre-

requisite that you have fluent, or at least

very advanced, German language skills):

Banking & Finance (Capital Markets)

Real Estate

Corporate

Media


With such a strong and booming economy,

the salaries in Frankfurt and Berlin are

accordingly very good and very similar to

what you would get in London at the

respective US or UK-based firm. German

firms also pay well, but on average less than

their foreign counterparts. Bonuses are

widespread according to firm and personal

performance, but are considerably more at

the US firms.As the cost of living is similar

to Australia (although it differs from city to

city), you should find that your hard-earned

money will go a lot further and keep you

well entertained outside the office.

OUTSIDE THE OFFICE

Although Frankfurt is not renowned for its

beauty or sightseeing attractions, there is a

lot more to offer than meets the eye, not

least in terms of a very comfortable lifestyle.

The general atmosphere is far more relaxed

and way less hectic than anything you would

experience in London and the

gastronomical delights are easily comparable

to any you would find in a major

international city, from informal bars and

cafes through to Michelin starred

restaurants.

Nightlife is also well catered for without the

hassle of mile-long queues and pricey

entrance fees. If you want to escape from

city life, Frankfurt is extremely well situated

for day and week trips. Besides visiting the

famous Rheingau wine region and

surrounding beautiful, quaint towns and

villages you can also venture farther afield to

Amsterdam, Bruges, Zurich and Northern

Italy, to name but a few.

Berlin has one of the most diverse and

vibrant nightlife scenes in Europe, being

home to many nightclubs, bars and

restaurants. Berlin has several annual

carnivals & parades and is also well known

for its jazz festivals. Culturally, Berlin has

theatres, museums and galleries to rival

anywhere in the world. Sports fans will be

spoilt with options ranging from football

through to ice hockey and basketball.

GERMANY


14/24


Greece is home to one of the oldest

western civilisations and is widely held to be

the birthplace of such cornerstones of

modern life as democracy, science and

western literature.A member of the

European Union since 1981, and a member

of the Economic and Monetary Union of

the European Union since 2001, Greece

represents an interesting business market

that is set to continue to expand ahead of

many other European markets.Although it

has a long and extremely eventful history,Greece is today quickly catching up with the

other developed countries in continental

Europe. Fuelled by the recent investment for

the Olympic Games, both Athens and

Piraeus (two of the major cities for lawyers)

have been rejuvenated whilst retaining all of

their historic charm.

LAW FIRMS

Both Athens and Piraeus are dominated by

local Greek law practices that will usually

only hire Greek-qualified lawyers. However,

several international firms have placed

offices in Piraeus to take advantage of the

extremely lucrative shipping industry that

operates there. Firms are now also locating

in Athens as the corporate market

continues to expand.


To work for a UK firm in Greece, lawyers

need to practice in either banking or

finance, corporate or shipping law.There is

particular demand for dry-shipping litigators

to work on charterparty disputes, collision

cases and hull/cargo claims in the Greek

shipping market, based in Piraeus. Athenstends to be the centre for the expanding

corporate and PFI/Projects market in

Greece.

Demand is typically for lawyers who are

dual-qualified in the UK & Greece and who

have previous experience working in the

Greek market. It follows that fluency in

Greek is also often a prerequisite.


Salaries and cost of living are generally

considerably lower than London for ex-pats,

although some of the international firms will

match London City rates to attract top

quality candidates. Greek local salaries are

much lower than London rates and ex-pat

lawyers are generally put on to these lower

local packages once they have been out in

Greece for a while.

OUTSIDE THE OFFICE

Greece is a fantastic place to live for people

who have any enjoyment of history or

travelling.With a network of over 400

islands, most of which are a short boat trip

away, there is always a new sunnydestination to explore. Nightlife tends to

start late in the evening, with a plethora of

fantastic seafront restaurants from which to

choose before moving on to a wide

selection of nightclubs and bars.

Athens holds all sorts of gems for the

historically-minded and outdoor activities in

Greece range from watersports to snow

skiing in one of the two well-known resorts

in Greece.The climate is perhaps the

countrys biggest selling point, with one of

the lowest annual rainfalls and highest hours

of sunlight on average per day in Europe.


GREECE



15/24



Hong Kong is a modern Chinese city with

multi-Asian and Western elements. It is the

biggest and most important financial centre

in the region and is still the city of choice for

most international businesses. It offers

everything from the bustle and crowds of

Central and Causeway Bay, to the mountains

of Lantau and the beautiful bays of Sai Kung.

Culturally and historically, it has a unique

place in Asia. It is efficient and well run with

a first class transport system. Everything is

within an easy distance and a commute to

work is typically a 5 minute taxi ride. Diverse

in many ways, it provides professional and

personal opportunities that few places in the

world can match.

LAW FIRMS & IN-HOUSE

Hong Kong is long established as the hub of

Asian trade, finance and commerce. Its highly

developed financial infrastructure and

established common law legal system is a

powerful magnet for regional and

international corporations.As a result, a large

number of major international law firms

from the UK, US and Australia have a

presence in the city. It is also the Asia Pacific

headquarters for a large number of major

investment banks and internationalcorporations.


Private Practice

Despite the increase in the requirement for

Chinese language skills, there is still demand

for high quality lawyers in the following areas:

Corporate

Banking & Finance

Project Finance

Securitisation

Capital Markets

Construction

Energy

Dispute Resolution

Funds

In-House

Hong Kong is headquarters for a large

number of major investment banks and

international corporations. Lawyers within

these organisations tend to have regionally

focused responsibility resulting in a diverse

and interesting workload. Increasingly, the

PRC is becoming a focus for companies and

Mandarin language skills are in demand.

Interest is high for lawyers with the following

experience:

Structured Finance & Securitisation Debt Capital Markets

Derivatives & Structured Products

Compliance - both Investment Banking

and Funds related

While previous Asian transactional

experience is always helpful, the above areas

are busy enough to see lawyers with strong

experience being relocated into this region.


Salaries tend to be generous in Hong Kong,

affording lawyers a good level of income and

a comfortable lifestyle. However, the huge

ex-pat packages once offered to lawyers

relocating to Hong Kong are rare in todays

market. Generally, overseas lawyers are

offered an all-inclusive salary package which

wont allow for a separate housing

allowance, but is likely to include an

economy class flight home each year, a

discretionary bonus, full life assurance and

private health cover.Tax levels are very low

and are capped at 16%.

OUTSIDE THE OFFICE

With its renowned work-hard, play-hard

spirit, the city is one of phenomenal energy.

You may be required to work late, but there

will always be plenty to do once you leave

the office.The bars are generally full 7 days a

week and stay open very late.The choice

and quality of restaurants, cafes, shops and

clubs which are open all hours is equally

impressive.The image of the city as a pulsingurban jungle seems only too real, but there is

more to Hong Kong than this.There are

beautiful beaches at Sai Kung and fantastic

walking in the new territories. Stanley and

Repulse Bay provide a haven from the bustle

of Central and there are clubs and leisure

facilities that provide opportunities for

participation in a wide range of sports and

activities.You are also well placed to travel

throughout Asia and to explore the different

cultures on your doorstep.

HONG KONG


16/24


Milan is a thriving, modern city with plenty

going on. It has long since been the financial

and industrial heart of Italy, not to mention

a global fashion capital. Its seasonal designer

shows and legendary shopping arcades

draw people from all over the world. It can

also boast having the largest church in

Christendom and a series of canals partly

designed by Leonardo da Vinci.

Rome is the capital city of Italy and of the

Lazio region, as well as the country's largest

and most populous commune, with about

2.8 million residents (3.8 million considering

the whole urbanised area, as represented by

the Province of Rome). Rome is thoroughly

modern and cosmopolitan. As one of the

few major European cities that escaped

World War II relatively unscathed, central

Rome remains essentially Renaissance and

Baroque in character.

LAW FIRMS

As Milan remains Italy's premier centre for

commercial activity, most national

commercial law firms have a presence in the

city.The top-tier UK-based international

firms have been established in Milan for

decades, but now many of the US firms and

the smaller international UK firms are joining

them.These newcomers on the Milan legal

scene are either setting up independently or

merging with local commercial firms in the

region.

Several of the major Italian and international

law firms also have well-established offices in

Rome, which is particularly strong for

corporate work. Many firms will provide for

associates to work in both of their offices,

either on a secondment or rotational basis.


The Italian market is dominated by domestic

lawyers, with most firms requiring

admittance to the Italian Bar before hiring a

lawyer. However, international lawyers will

be considered in the following areas

(although it is fair to say that candidates

should be from a top international firm and

Italian language skills are normally required

unless otherwise specified):

Banking

Capital Markets/Securitisation

Corporate/M&A

Projects/Project Finance

US Securities

REMUNERATION & BENEFITS

In general, most international law firms will

still pay non-local lateral hires an equivalent

to a London City salary rate (or perhaps

slightly lower), although this does not come

with additional perks such as a living

allowance or flights home.This is because

the cost of living in both Milan and Rome is

seen to be lower than in it is in London,

although it is still more expensive than

major Australian cities. Some firms are

becoming less inclined to offer a UK-based

package though and are tending towards a

local salary package for all lateral recruits,

which would typically be at least one third

lower than a London-based lawyer could

earn.

OUTSIDE THE OFFICE

Apart from a few gems, Milan is not

renowned for its looks; but it can offer great

lifestyle benefits. Milan is a busy metropolis

but it is run with efficiency and aplomb.

Most people live near to the office, with the

countryside only a short car ride away. If

you chose not to head home after work,

there are plenty of choices at your

fingertips. Shopping in the fantastic

boutiques can be a major distraction and

local theatres and cinemas are flourishing.There is also a thriving club scene and a

slew of tempting restaurants, not to

mention designer bars owned by the likes of

Gucci, D&G and Armani.

Rome needs little introduction and is one of

the most picturesque and lively cities in the

world. Definitely multi-cultural, the alley-

ways in Rome hold delights for everyone.

The list of things to do and see is endless

and with a Mediterranean climate Rome is

an attractive option the whole year round.


ITALY



17/24



London is one of the worlds great cities

offering both a modern lifestyle and history

dating back to Roman times.The city is

recognised as one of the leading global

financial centres and is often the European

base for multi-national corporations.

Accordingly, opportunities for lawyers to be

involved in cutting-edge/international matters

are exceptional.

LAW FIRMS

Londons status in the global financial

markets and its historical background as the

centre for common law have made it

arguably the worlds leading legal city.The

major international law firms are all

represented in London including the Magic

Circle firms (Allen & Overy, Clifford

Chance, Freshfields, Linklaters and Slaughter

& May) and the leading US firms.


The London market is dominated by the

finance and corporate areas, however, there

are other areas of demand as set out below.

Asset Finance

Leveraged Finance

Project Finance

Structured Finance

Banking

Capital Markets

Derivatives

Corporate/M&A

Construction

IT/Outsourcing

Banking/Commercial Litigation


Lawyers are remunerated well in London.

The highest salaries are paid by the US firms

paying New York rates (c.80,000+ at 1-2

year Australian level), followed by those

paying mid-Atlantic rates (c.60,000+ at 1-

2 year Australian level).The leading UK firms

salaries typically start at c.50,000 for the 1-2

year lawyers level.The top rate of tax in the

UK is currently 40%.

The standard annual leave allowance in the

UK is 25 days and this can increase with

service. New York firms do tend to offer less

holiday at c.15 to 20 days.

The leading firms generally offer such benefits

as health insurance, pension and subsidised

gym membership.

OUTSIDE THE OFFICE

London can cater to all tastes and interests.

The city is a leading centre of the arts

including the West Ends world famous

theatrical productions, Covent Gardens

opera and ballet and the various

internationally renowned art galleries. London

also offers an array of bars, restaurants and

clubs.

London is also a major transport hub,

providing access to Europe and the rest of

the world.The no frills airlines offer cheap

flights to many European destinations making

it cheap and easy to take short breaks on the

Continent. Road and rail links to Europe are

also good with both the Channel Tunnel and

ferry services being available.

LONDON


18/24


From the domes of St. Basils Cathedral to

the art exhibitions, diverse nightlife and

international restaurant scene, Moscow has

a unique feel and an exciting edge to it.

Plentiful oil resources have meant that the

economy is booming as a result of the ever

rising oil prices. Inward investment continues

to flood into the country, creating

prosperity, economic development and an

ever increasing need for good legal advisers.

LAW FIRMS

Moscow is a key international business

centre and most of the global law firms

have invested heavily in their Russian

practices. There are approximately 20

UK/US law firms with long established

Moscow offices and which easily compete

with national firms for local market

dominance.The majority are staffed with

high profile partners and a combination of

local and UK/overseas-qualified lawyers.


Capital Markets

Corporate

Finance

Energy and Resources

Russian language skills are generally

advantagous but not a prerequisite for

common law lawyers.


Salaries for ex-pat lawyers in Moscow are

generous, with most firms paying the

equivalent of a UK salary plus a significant

uplift, a housing allowance and a return flight

home per year.Tax is minimal, capped at

13%.

OUTSIDE THE OFFICE

Moscow is a dynamically growing business

and cultural centre for the whole of Eastern

Europe and the CIS, which is a region full of

new opportunities. Living and working there

is an exciting adventure and a new learning

experience, which will expand your

horizons.The culture is rich and diverse and

the nightlife is anything but dull! The food is

hugely varied, often excellent and generally

inexpensive.The supermarkets in Moscow

are generally cheaper than in London and

offer a good range of food and products. It

is possible to buy fresh foods even cheaper

in local outdoor markets.There is a good

variety of travelling options outside Moscow

available to make your weekends more

interesting.Western-style accommodation in

Moscow is on the expensive side though.

For example, a one-bedroom apartment in

the city centre will cost approximately US

$1,500-$2,000 per month.


MOSCOW



19/24



New York is a densely packed mass of

humanity - 7.5 million people in 309 sq

miles. It is a city that is so much part of the

global subconscious that most of its

highlights are instantly recognisable; from the

Empire State Building, to the tranquillity of

Central Park and the hub of Times Square.

LAW FIRMS

All of the major regional US firms have some

size of office here in addition to the well

known white shoeWall Street firms which

are at the forefront of cutting-edge deals.

Indeed many major UK international firms are

also based in NY, although this is seen globally

as one of the hardest markets to break.

ACADEMIC & PROFESSIONAL

INFORMATION

As a result of the 2005 Australian-US Fair

Trade Agreement,Australian lawyers with at

least a Batchelors degree in law are now

eligable for an E-3 visa, which allows them to

work for 2 years (which can be reveiwed for

an indefinate period)

So, while non-law graduates can now make

the move to New York, the reality is that, giventhe relative impracticality involved, it remains

those with a law degree who have the best

opportunity of making a successful transition.

Firms will arrange visas for UK and Australian

lawyers looking to join them however with a

trade agreement in place between Australia

and the US, and the current shortage of

H1B Visas for UK citizens, it is infinitely easier

for firms to sponsor Australian lawyers

(though there remains huge interest in good

UK lawyers). Firms will pay for foreign

lawyers to sit the Bar exam and often a

period of study leave will be incorporated

into any contract of employment. It is

fundamental to note however that the costs

involved in arranging a visa, bringing a lawyer

over and paying for their Bar exam,

combined with both the calibre of lawyers

sought and the particular practice areas for

which they are required (see below), result

in it being hugely difficult to place anyone

lacking either an exceptional academic

record or post qualification experience at a

leading firm in their particular jurisdiction

and practice area.


The demand for non-US-qualified lawyers, in

particular UK and Australian-qualified, in

New York is essentially market driven and

caused by a lack of supply of home grown

lawyers with relevant experience in what are

seen as the more international areas of law.

In particular:

Banking & Finance

Capital Markets

Derivatives

Securitisation

M&A

Private Equity

IT/Outsourcing

And more rarely Litigation


Salaries tend to be the highest in the world

as a general rule, with the Wall Street law

firms leading the marketplace. Newly

qualified lawyers now earn around $160,000

plus bonus. Ex-pat packages in New York

are rare but firms do pay relocation, NY Bar

exam costs, sometimes a months

accommodation on arrival and they will

arrange a visa for you.Accomodation is

expensive but easily affordable on a lawyers

salary: rent for a 1 bedroom apartment in

Manhattan is currently between US $1,500

and US $2,500 per month.

OUTSIDE THE OFFICE

Lawyers in New York are known to have a

strong work ethic, but with most living a

stones throw from their office there still

appears to be plenty of time to have fun.

There is so much to do and see in New

York: leaving aside the major sites and the

huge number of fantastic bars and

restaurants it is host to a leading ballet,

opera and Broadway. New York is also ideally

placed for a weekend, depending on the

season, at either the beach (The Hamptons)or skiing (UpState New York).

NEW YORK


20/24


PARIS



Paris is an exciting and vibrant city

recognised the world over as offering an

unrivalled lifestyle and culture. It is one of

the largest, if not the largest, European

legal centre and is regarded as a major

hub for pan-European business. Much

European cross-border trade and finance

will involve a French aspect making it an

essential business jurisdiction.The quality

of commercial legal work on offer is

therefore excellent. Most of this work is in

English.While French language skills will

ease an ex-pat recruit into the language of

the corridor and the multitude of cafes

and bars, it is not essential to the practice

of law.That said, many firms require some

level of knowledge of the local language.

LAW FIRMS

The international firms, principally the UK

and American firms, lead the way and have

been in the French market for decades.

However, there are a number of very good

French firms who have offices abroad as

well. Although there are some resident ex-

pat partners in the Paris offices, the majority

of partners and fee-earners will be French

avocats.

IN-HOUSE

Legal roles within Paris-based financial

institutions and companies arise from time

to time for lawyers from the 1-2 year level

up to partner level.


The most significant areas of demand are in

finance, corporate and international

arbitration.The other practice groups tend

to be dominated by the local lawyers.

The key finance groups are:

Banking

Capital Markets

Structured Finance

Project Finance

Asset Finance

Securitisation.


Law firms will take on lateral lawyers either

as employees or as independent contractors

(with profession liberale status).Employees

are a more expensive hire for the firms

because there is an ensuing liability on thepart of the firm to pay additional taxes and

social security contributions. On an

independent contractor basis, the lawyer

picks up the tab on these expenses and is

usually paid a higher rate as a result. Once

lawyers have taken the Paris Bar and

become locally qualified, there would be an

expectation of moving to this status of

independent contractor, which is really the

norm across continental Europe.

Independent contractors are able to claim

many expenses against their taxable income,

thereby reducing their tax bill.

UK firms are increasingly getting round this

distinction between employees and

independent contractors by hiring people

through their London office and seconding

them to Paris.

Income in Paris for ex-pat lawyers tends to

follow closely London rates although this is

increasingly less so due to the recent

dramatic increase in London salaries.There

is a general tendency perhaps for rates to

be slightly lower, but after taking into

account the cost of living (which is similar to

that of Australia), the financial package is

very attractive.

OUTSIDE THE OFFICE

The list of things to do in Paris is a long one

and this guide could not possibly hope to

do it justice.While you should expect to

work hard, the enjoyment associated with

living and working in this beautiful city is

difficult to overstate. Professionals tend to

live in the heart of Paris, so after hours they

take advantage of the restaurants, nightlife,

shopping and culture.


21/24


SINGAPORE


Singapore is a city, a country and one of the

worlds most important financial centres.

Founded by Sir Stamford Raffles, it still

retains a colonial feel and is renowned for its

world-class infrastructure, easy going lifestyle

and friendly environment. Whilst having a

reputation for being ultra modern, it retains

a wide range of Chinese, Malay and Indian

traditions and offers a superb blend of Asia

and the West.


Singapore has long been established as a

premier financial centre and is the South

East Asia base for a number of UK and US

law firms.Whilst not as big a market as

Hong Kong, it does not have the same

demand for Asian language skills and firms

usually look overseas for their lateral recruits.

In-house roles in Singapore are fairly few and

far between for lawyers based overseas,

though some roles exist in major multi-

nationals and top investment banks.


Private Practice

The market has recovered remarkably from

the downturn in 2002 and 2003. Law firms

have grown significantly in the last 2 years

and the outlook remains positive. Areas in

demand are principally:

Corporate

Banking & Finance Project Finance

Capital Markets

Energy

In-House

Whilst roles are relatively scarce, lawyers

with skills in the following areas are of

interest:

Structured Finance & Securitisation

Debt Capital Markets


Compliance - both Investment Banking

and Funds Related


Salaries in Singapore have moved away from

the traditional ex-pat package. Whilst the

occasional role may offer housing and cost

of living allowances, most law firms and

banks now pay a local Singapore dollars

salary. Salaries are still relatively high and tax

is low at 20%. The cost of living in Singapore

is low compared to London or Hong Kong

and lawyers tend to live in houses or large

apartments where gardens and swimming

pools are not uncommon.

OUTSIDE THE OFFICE

Singapore has something to offer for

everyone. There is a superb range of bars,

clubs and restaurants, great shopping,

fantastic parks and great beaches. It offers a

wide range of sporting facilities, including a

number of top golf courses. It is vibrant and

social for younger lawyers, but provides a

superb environment for families at the same

time.The climate is excellent, the air is clean

and there is far more space than in most

Asian cities!

Based in Singapore, you will have some

fantastic travel opportunities across the

region. Indonesia is a stones throw away, as

are some of the regions most beautifuloutlaying islands.


22/24


SPAIN


Mainland Spain occupies most of the

Iberian Peninsula (shared with Portugal

and Gibraltar) and the country also

includes the Balearic Islands and the

Canary Islands, as well as Ceuta and Melillaon the coast of North Africa. Spain's

economy - driven by Madrid and

Barcelona - is the thirteenth largest in the

world and the fifth largest in the EU,

behind Germany, the UK, France and Italy.

LAW FIRMS

Whilst several local firms have achieved

excellent market positions in Spain, the

top-tier is once again dominated by the

large international UK and US firms that

are prevalent across Europe. Most

international firms have offices in both

Madrid and Barcelona.


The Spanish market is largely populated

with domestic lawyers, with most firms

requiring admittance to the Spanish Bar

before hiring a lawyer. However,

international lawyers will be considered inthe following areas (although it is fair to

say that candidates should be from a top

international firm and Spanish language

skills are normally required unless

otherwise specified):

Banking

Capital Markets/Securitisation

Corporate/M&A

Projects/Project Finance

EU/Competition

IP/IT

REMUNERATION & BENEFITS

In general, most international law firms will

pay non-local lateral hires a salary that is a

bit below London City rates but

considerably higher than the local market

rate. Coupled with the lower costs of

living, this can leave you financially better

off working in Spain. However, some firms

are becoming less inclined to offer a UK-

based package and are tending towards a

local salary package for all lateral recruits.

Housing allowances are not usually paid,

although a decent relocation package is

usually offered.

OUTSIDE THE OFFICE

Madrid and Barcelona are two of the

world's liveliest cities and are both

regularly described as cities that never

sleep (the Spanish would say they have

"mucha marcha"). Both cities host art

collections, galleries and museums which

rank among the finest in the world and

the sporting options in each are limitless

(particularly if you are partial to watching

world class football!).The way of life in

each of the cities can best be described as

a happy meeting of the general relaxed

Spanish approach to life and the bustling

sensations that go hand-in-hand withmajor social cities.


23/24

TOKYO



Come with an open mind and be

prepared to be surprised! Tokyo is a

remarkable city full of contrasts. It is a

bustling city with plenty of attractions and

a vibrant culture. It boasts an

extraordinary variety of museums,

galleries, shrines and temples. It has great

parks and an astonishing array of bars and

restaurants. There is a large and

flourishing ex-pat community and as you

travel through Japan, you will discover an

even wider range of cultural, natural and

historical wonders.


The second biggest economy in the world

and a massive financial market,Tokyo can

offer a lawyer some of the highest quality

and most challenging work in the world.

The premier UK and US firms all have

thriving offices here and there are also

selective opportunities for lawyers in top-tier investment banks.


Private Practice

International law firms in Japan have grown

steadily over the last 10 years and now

have well established practices in a

number of areas. Japanese language skills

are much sought after, but not essential in

most instances. It is in the following areas

where lawyers are predominantly in

demand:

Banking & Finance

Capital Markets

Corporate

Project Finance

Energy

Dispute Resolution

In-House

There are oppor tunities for outstanding

lawyers, particularly with Japanese language

skills in the following areas:

Capital Markets



Although the cost of living in Tokyo is high,

this is reflected in the salary packages on

offer. Although most organisations have

moved away from traditional ex-pat deals,

they still offer a local cash package that is

extremely attractive. Lawyers in Tokyo are

as well off as lawyers anywhere in the

world.

OUTSIDE THE OFFICE

Tokyo and Japan as a whole offer a

phenomenal range of activities and events.

Whether your interests be historical or

cultural, in sport, in eating and drinking, in

shopping or whether you prefer to spend

your weekends relaxing there are an

enormous number of options on offer.

Life is equally fulfilling for the single lawyer

or a family. A superb transport system

allows you to get around Japan and take in

magnificent national parks and fantastic

cities like Kyoto. Australia is a short flightaway and the rest of Asia is on your

doorstep.


24/24


CONTACTS

MELBOURNE

Please contact Tim Fogarty.

SYDNEY AND ALL OTHER AREAS

Please contact Kiran Sangha or Sandra DSouza.

If you are interested in a career move to any overseas destination, please contact oneof our international consultants.

Tim Fogarty

T: 03 8610 8400

E:[email protected]

Kiran Sangha

T: 02 9236 9000

E: [email protected]

Sandra D'Souza

T: 02 9236 9000

E: [email protected]

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