Lay­ing down the law on HK, Ma­cau joint ven­tures

Shanghai Daily - - METRO - Echo Yang

LAW firms in Hong Kong and Ma­cau will be able to op­er­ate joint com­pa­nies in Shang­hai from De­cem­ber 1, the city’s jus­tice bu­reau has an­nounced.

Shang­hai will be­come the sec­ond place in the Chi­nese main­land to im­ple­ment the pilot pro­gram, which has been on trial in some parts of Guang­dong Prov­ince since 2014. It will ex­pand to the whole prov­ince from De­cem­ber 1.

Ac­cord­ing to the jus­tice bu­reau, each par­tic­i­pat­ing law firm in the joint ven­ture should con­trib­ute at least 5 mil­lion yuan (US$722,512), while the con­tri­bu­tion of the Hong Kong or Ma­cau firm should be be­tween 30 per­cent and 49 per­cent of the to­tal.

Each of the law firms should al­lo­cate at least 10 lawyers to the joint ven­ture while the head should come from the main­land law firm.

The main­land lawyers will deal with main­land af­fairs while the Hong Kong and Ma­cau lawyers will han­dle af­fairs re­lat­ing to the two spe­cial ad­min­is­tra­tive re­gions. They will co­op­er­ate in in­ter­na­tional af­fairs.

The city jus­tice bu­reau will su­per­vise the joint ven­tures.

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