As the offshore legal profession evolves so does its reach into new jurisdictions. In the second of The Lawyer’s Offshore Special Reports in 2008, experts discuss the latest developments, including news from emerging offshore countries.

Above all, tax is the main driver for pushing investors into offshore, but as Ogier partner Marc Yates points out in his article: “At the same time investors look for companies incorporated in stable environments where regulatory framework is robust and where the corporate legislation is both up to date and flexible.”

With increasing competition between jurisdictions for onshore work, flexibility is key. The emergence of Dubai and its new ‘exempt companies’ rule has caused rumbles. The jurisdiction, says Maples & Calder Dubai chief Tahir Jawed, prefers not to be classed in the same league as the traditional set: the BVI, Cayman and the Channel Isles, all of which – and more – feature in this report.