On June 9, Hengqin issued a batch of comprehensive supportive measures for the legal service industry, offering a variety of subsidies and awards to attract domestic and foreign legal institutions.
The measures will take effect since July 1, 2023, aiming to attract more high-quality legal institutions and promote the connection of legal rules with Macao and the international system.
Based on the measures, qualified legal institutions from both China and abroad offering services such as notarization, judicial authentication, commercial arbitration and mediation can apply for subsidies and awards for office rental, further development and so on.
Mediation and arbitration institutions operating in the Cooperation Zone can apply for a special subsidy worth up to 1 million RMB each year.
According to the measures, joint law firms co-established by law firms from Hong Kong, Macao and the Chinese mainland can apply for a subsidy of 2 million RMB for settling in Hengqin. Overseas well-known law firms who set up representative institutions in the Cooperation Zone can apply for a special subsidy of 1.5 million RMB.
In terms of the awards for their further development in Hengqin, legal institutions whose main business income in the Cooperation Zone reaches 10 million RMB, 30 million RMB and 50 million RMB for the first time, will be awarded 1 million, 2 million and 3 million RMB, respectively. The maximum annual award for each legal institution is 2 million RMB.
The introduction of the supportive measures works to settle down in the Cooperation Zone, and help the Zone create a law-based business environment.
Click here for the full text of the measures:
http://www.hengqin.gov.cn/macao_zh_hans/zwgk/zcfg/gfxwj/content/post_3538438.html
Author | Nancy Ye
Editors | Olivia, Nan, Monica, Jerry
Photos provided to GDToday
