The Law Society of Scotland has provided an update on the status of licensed legal services providers. Traditionally legal practices can only be owned by lawyers holding a practice certificate, these new Legal Service Providers can be owned by non-lawyers, though they still need to be majority (51%) owned by solicitors or members of specified regulated professions. This means solicitors can set up practices with other professionals such as surveyors, accountants or architects.
To set up an LP you need qualifying investors, an authorised Scottish solicitor entitled to practice in Scotland without restriction, a head of legal services and a head of practice.
The head of legal services must be a Scottish solicitor authorised to practice in Scotland without restriction, however the head of practice is not required to be a solicitor but is responsible for compliance with regulation and the terms of the license.