First Hong Kong, Macau, mainland China legal joint venture opens its doors in Hengqin in Zhuhai
Firm aims to be one-stop legal service provider for clients in Hong Kong, mainland China and around the world dealing with investment, commerce and intellectual property
The first joint venture between law firms from Hong Kong, Macau and mainland China officially opened its doors on Hengqin island, a free trade zone in Zhuhai, last week.
“We firmly believe that this is the future of integration and regional cooperation. We cannot put walls where there will be no walls in the future,” said Pedro Cortes, senior partner of Macau law firm Rato, Ling, Lei and Cortes.
The new ZLF Law Firm received a licence to operate in January, but the official opening of its office was only held on July 8.
The Zhong Yin Law Firm, which was considered the third largest law firm in Asia by Asian Legal Business magazine last year, is ZLF’s major stakeholder, with 40 per cent of the shares. Rato, Ling, Lei and Cortes and Hong Kong law firm Fongs have 30 per cent each.
Edmond Fong, founder and principal of Fongs, noted that the principle “one country, two systems” was at play in the partnership.
“This joint venture can promote the legal systems of Hong Kong and Macau in mainland China, and this shows the Chinese government provides assistance and freedom to further enhance developments between the mainland, Macau and Hong Kong,” he said.
Cortes, a Portuguese lawyer who has practised in Macau for the past 13 years and is also a lecturer at the Chinese University of Hong Kong, noted that the new firm was a sign of what the future held.
“The year 2049 is tomorrow and, therefore, we will start feeling stronger steps towards integration in the coming years. Hengqin island is part of such a desire by the Chinese government and therefore we consider this new law firm not only as an opportunity but also a learning process,” he said.
The 50-year lifespan of “one country, two systems” – a principle that grants a high degree of autonomy to both special administrative regions – ends in 2047 in Hong Kong and two years later in Macau. It is unclear what will happen to the legal systems in Hong Kong and Macau after those years.
ZLF currently operates with 13 lawyers, but it wants to expand to 60 people with experience in various jurisdictions.
“The main objective of this firm is to become a one-stop legal service provider for clients in Hong Kong, mainland China and around the world, especially for those in the field of cross-border investment, commerce corporate finance and intellectual property,” Fong said.
The firm currently only holds a licence to operate on Hengqin, a 106-square-kilometre island which lies opposite Taipa and Coloane in Macau.
Fong said they had long-term plans to establish more branches on the mainland, particularly in other free-trade zones or first-tier cities such as Qianhai in Shenzhen and Shanghai.