Qianhai has rolled out measures to promote the development of legal services in Shenzhen and Hong Kong and boost international cooperation in the area.
According to the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone Authority, these measures are implemented starting from June 1 and will remain valid for three years.
Eligible legal service institutions can receive a one-time support grant ranging from 300,000 yuan (US$41,405) to 2 million yuan for establishment of business in Qianhai.
According to the measures, as of the date of the application announcement, a Guangdong-Hong Kong-Macao cooperative partnership law firm or a Sino-foreign joint law firm office jointly established by overseas law firms that have been listed in the Chambers and Partners’ “Chambers Global Legal Guide” or “The Legal 500” in the past three yearsand outstanding law firmsfrom the Chinese mainlandin the Qianhai cooperation zone is eligible to apply for a one-time establishment grant of 2 million yuan.
Legal service institutions, which establish operations and operate in the Qianhai cooperation zone and hire legal professionals from Hong Kong and Macao, are eligible for personnel support.
According to the number of Hong Kong and Macao legal professionals employed and actually conducting business as of the application deadline, each professional hired will be granted an annual amount of 30,000 yuan. Each institution can receive support of up to 1 million yuan per year, with a support duration of up to three years.
Additionally, for any eligible project, each can get a one-time high-end legal service support of 200,000 yuan.
The measures also stipulate that law firms from the Chinese mainland that are newly established or have been relocated for a full year, with a number of practicing lawyers exceeding 10 in the previous year,are eligible for a one-time grant of 100,000 yuan.
Qianhai-based institutions engaged in arbitration, notarization, judicial appraisal, legal investigation, commercial mediation,complianceand otherscan receive a one-time establishment grant of 500,000 yuan.
Qianhai-based law firms that are rated as "excellent Guangdong law firms" or have more than 50 practicing lawyers can receive a one-time grant of 500,000 yuan.
Law firms that are rated as "national excellent law firms" or have more than 100 practicing lawyers can receive a one-time grant of one million yuan.
The total amount of support funds enjoyed by the same legal service institution within the same fiscal year is, in principle, not to exceed 10 million yuan.