6 Aug 2015
Guangzhou’s First Guangdong-Hong Kong Joint Law Firm Gets Green Light
Guangzhou’s first Guangdong-Hong Kong partnership law firm, Goldsun PMT (Nansha) has gained approval for establishment. The move was ratified by the Guangdong Provincial Department of Justice. Mainland residents dealing with legal problems in Hong Kong no longer need to run around in the two places of Guangdong and Hong Kong.
Goldsun PMT (Nansha) Law Firm is a partnership between Guangzhou’s Goldsun Law Firm and Hong Kong’s Patrick Mak & Tse Solicitors, providing one-stop legal services involving the Chinese mainland and Hong Kong.
Over the past decade, the mainland has introduced a series of measures to liberalise and explore close cooperation between law firms of the two places under CEPA framework. The pilot partnership model is an upgrade version of the existing association model.
According to Mak Ka Wing Patrick, managing partner of Patrick Mak & Tse Solicitors, the biggest difference between partnership and association is that the former is a physical joint venture of deep integration, which can accept liability to undertake business externally in their own right, and have greater autonomy in internal management and business development.
Mak said that partnership law firms are set up under the organisational form of special general partnership, which is not as simple as a mere cooperative relationship but in the true sense an integration that all lawyers practising in the partnership will work together for the economic entity, requiring lawyers of the two places to strengthen the understanding of the two or even more jurisdictions.
Guo Jinkai, a senior partner at the joint law firm, said that the firm hopes to provide comprehensive professional legal services to businesses planned to be or have already been set up in Nansha in investment and corporate financing inside and outside of the country. He pointed out that, compared with Qianhai in Shenzhen and Hengqin in Zhuhai, the business and customer base of the Guangdong-Hong Kong partnership law firm in Nansha are not the same. Nansha’s geographical location determines the nature of its relationship with the Pearl River Delta region, of which nearly half of the people have overseas investment.