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Mr. Jason Lin (林泽军), a Director of the Greater Bay Area Management Committee of East & Concord Partners (also a registered foreign lawyer of YYC Legal LLP), commenting on the traditional service model of assisting the Chinese enterprises in just landing business overseas by partnering a law firm in China with a law firm from the host country is no longer sufficient. Jason tells Thomson Reuters ALB in an interview: This wave of Chinese enterprises “Go Global” also urges for a completely new legal service model. We must tailor-make a fully organised and competitive cross-border legal, financial, tax and organisational structures for the Chinese enterprises according to the requirements of multinational companies.
Specifically, for a multinational company, it is important to carefully evaluate the centralisation and location of a holding platform comprising operational, financial, supply chain networks, human resources and IP, and how well-positioned the company in different jurisdictions for global expansion before making the move. Then, determine the feasibility of landing in the host country such as understanding the legislative and regulatory environment in that host country and how to align with the holding platform are concerned. Furthermore, the advantages of fundraising, costs of future exit and other potential issues should also be considered.
Jason also pointed out that Hong Kong has always been an irreplaceable choice for Chinese enterprises to set up “Go Global” holding platforms, and the role it plays will become increasingly important. Especially since 2023, Hong Kong has released a series of policies to attract Chinese domestic enterprises to settle down, such as an introduction of tax incentives for family offices and the “patent box system”.
To this end, East & Concord Partners (GBA Offices) has pulled together a team of “Go Global” consisting of 8 partners and more than 20 legal professionals, and currently serving “Go Global” projects in various practice areas and jurisdictions. In addition, starting from 2023, East & Concord Partners (GBA Offices) promoted comprehensive legal, commercial, financial and tax services to its clients and well-equipped for the “Go Global” practice indeed.
To read the full An interview with Jason Lin, please visit: https://china.legalbusinessonline.com/features/华南地区报告：企业“出海”及相关法律服务 (ZH/EN)