A new entry into the asialaw rankings in this edition, Ai & Wong Lawyers was co-founded four years ago by Linzhi Ai, Chi Kong Wong, Wai Meng Ku and Ka Ian Pang. The firm is active in commercial law, construction, dispute resolution and intellectual property.
Work highlights
Acted for a local consortium on the HK$1 billion ($127 million) acquisition of hotel projects. This transaction is the largest hotel project acquisition in Macau since the epidemic.
Established in Macau in 1970, ‘Outstanding’ firm Jorge Neto Valente Advogados is experienced in banking, gaming, insurance and real estate. Founding partner Jorge Neto Valente has extensive experience advising on court cases, real estate projects, cross-border transactions, corporate reorganisations and investments. He has profound legal knowledge and experience of gaming laws and operations in Macau. Pedro Branco and Rui Sousa are other key figures at the firm. The firm recently hired Nicole Ng, while Beatriz Segorbe and Rita Rebelo have left the firm.
Work highlights
Acted as Macau external counsel to a group of companies of one of Macau’s largest gaming operators on all aspects of the companies’ operations in Macau, which include several sites, notably hotels and gaming integrated resorts.
Acted as external counsel assisting a gaming operator in the tender process for the granting of gaming licences in Macau.
Acted for the lenders of a HK$19 billion ($2.42 billion) refinancing transaction for the development of an integrated resort in Macau.
José Lupi & Associates is recognised as a premier full-service law firm with a leading litigation department. The firm advises Chinese and international state-owned enterprises, private clients and investment funds across all Macau industry sectors including financial services, consumer and retail, industrials, gaming, fintech, automotive, government, healthcare, real estate and resources. The business law practice focuses on securities, banking and finance, M&A, debt capital markets, and private equity funds as well as arbitration and dispute resolution. Managing partner José Lupi is a key figure.
Client feedback
“In-depth technical expertise, top-tier commercial approach, extremely responsive and fantastic client service – best value for money in the market.” – Corporate and M&A
José Lupi
“Extraordinary lawyer with perfect balance of technical knowledge and commercial awareness and outstanding negotiation skills.”
Work highlights
Advised ICBC Macau on its second Rmb3 billion ($419 million) panda bond issuance in China's national inter-bank bond market. The funds will support ICBC Macau's operations in mainland China and Macau. This transaction showcases Macau's high-quality issuers and enhances the region's financial profile among domestic and international investors.
Represented international real estate developer with litigation proceedings and negotiations connected to a real estate development dispute with a Hong Kong real estate developer.
With a global presence spanning Macau, Zhuhai, Shenzhen and Portugal, Rato Ling Lei & Cortés is renowned for its specialisation in banking and finance, capital markets, corporate and M&A, and dispute resolution. The firm consistently delivers exceptional legal services tailored to the unique needs of its clients. Its industry strengths lie in the gaming, IT and real estate sectors, where the firm has established a strong track record. The firm has experienced both growth and change in its team over the past year. It made several key hires in 2023, including Ka I Wong from Cheang Chao Sou e Leong Law Firm, Beatriz Segorbe as senior counsel from Jorge Neto Valente Advogados, and Nga Lam Ho from OCT Law Firm, strengthening various practice areas including banking, finance, and litigation. However, the firm also saw departures, with Ka Un Kou joining Shun Tak Holdings in July 2023 and Ka Man Ng moving to RV – Pedro Redinha e João Varela, Advogados e Notário Privado in March 2024.
Work highlights
Advised Wynn Macau on the issuance of $600 million convertible bonds due in 2029. This transaction marked the inaugural deal following the fresh awarding of new casino gaming concessions, with the concession agreements taking effect on January 1, 2023.
Advised Zhuhai Rural Commercial Bank Company on its successful issuance of a three-year, Rmb500 million ($70 million) senior unsecured green bond. This green Lotus bond set several national firsts: the first domestic bank Lotus bond in China, the first Lotus bond for a local corporate financial institution in China, and Macau's first domestic entity's senior unsecured green bond.
Represented Zhuhai Huafa Group in the successful issuance of guaranteed bonds. The bond created three firsts: the first "Hengqin Guangdong-Macao Deep Cooperation Zone" bond, the first Rmb-denominated non-financial corporate bond listed in Macau and Luxembourg, and the first Macao bond to be announced to the market for trading, book-keeping and pricing in Chinese, English and Portuguese.
Key clients
China Taiping Life Insurance (Macau) Company, Micro Connect (Macao) Financial Assets Exchange, Nam Yue (Group) Company
Manuela António – Lawyers and Notaries has established a strong reputation for its expertise in aviation, banking and finance, and gaming. Partner Hugo Ribeiro Couto specialises in litigation, handling disputes in civil, corporate, real estate, insurance and administrative matters. Couto's advisory scope extends to banking, tax, construction, real estate, corporate, and public contractual issues, offering expertise in navigating complex arrangements across multiple jurisdictions.
Client feedback
“Responsive, professional, provided helpful legal justifications and advice on local law issues.” – Banking and finance
Work highlights
Advised a financial institution's Macau branch on a Rmb210 million facility agreement and related Macau security package for a Hong Kong and Macau fintech company. The transaction involved pledges over cash, trading, and debt service reserve accounts. This deal supports the borrower's operations in Macau's financial asset exchange industry and demonstrates the firm's expertise in cross-border financing and local regulatory matters.
Advised a prominent bank's Macau branch on a $400 million loan facility and related security package for a Cayman Islands-based investment and financial advisory group. The transaction involved a pledge over bank account and required expertise in Macau SAR laws and regulations.
Riquito Advogados, with offices in Macau SAR and Portugal, offers a wide range of legal services across Europe and Asia. The firm's expertise spans corporate and contract law, M&A, real estate, intellectual property, foreign investment, litigation, aviation, and labour law. Leveraging its Macau headquarters, Riquito Advogados handles cross-border matters for both international investors in Macau and local businesses expanding abroad. The firm serves a diverse clientele, including listed companies, gaming operators, financial institutions, and public concessionaires. Known for managing complex transactions and disputes, Riquito Advogados has recently enhanced its IP and gaming practices to align with Macau's evolving market. The firm has also strengthened its labour and taxation capabilities to meet growing client needs, while continuing to handle significant IP litigation for gaming companies in Macau courts. In terms of team growth, the firm welcomed Hália Cerqueira as an associate in December 2022, bolstering its financial, corporate, M&A, litigation, banking and finance, and labour practices. The firm further expanded its expertise with the addition of Well Lai as an in-house consultant in October 2023.
Client feedback
"Riquito Advogados is simply a formidable legal adviser. We consider Riquito an extension of our company, and Bruno Almeida is our head of counsel for the group. They are both brilliant professionals and sensitive human beings – very intelligent, energetic, with untarnished character." – Corporate and M&A
"They possess knowledge of law and regulations in both Macau and Portugal, as well as a deep understanding of our business." – Corporate and M&A
"Riquito Advogados exemplifies excellence in legal representation with their unparalleled expertise, unwavering dedication, and strategic acumen. Their proactive approach, attention to detail, and commitment to client success set them apart as industry leaders." – Dispute resolution
Bruno Almeida
"Bruno Almeida is the most brilliant corporate lawyer I have ever known. Bruno has knowledge far beyond his years; he is recognised by his peers as being a formidable counsel and serves on the most distinguished corporate boards in Macau. Bruno is considered an extension of our company and serves as our head of counsel."
João Nuno Riquito
"Knowledge of law, as well as deep understanding of our business."
"Outstanding knowledge, skills, and performance."
Work highlights
Advised a multi-business holdings company on the reversion of casino assets to the Macau government, following the expiration of previous land-based casino concessions. The ongoing $450 million project involves negotiating agreements for transferring real estate assets and advising on all legal aspects of the asset reversion process. The matter is complex due to its classification as a major connected transaction under Hong Kong Exchange Rules, its involvement in the regulated gaming industry, and strict time constraints.
Established in 2015, STA Lawyers boasts a highly efficient team of elite lawyers with solid theoretical foundations and practical experience in legal services. The firm's expertise extends across various sectors, with a particular focus on banking and finance, where they offer services including financial project management, mergers and acquisitions, investment and asset management, drafting confidentiality agreements, and assisting with financial institution licensing applications. Senior partner Hoi Tong (Fátima) Lam focuses her practice on commercial law, banking law, civil law, family law, and inheritance law.
Client feedback
“They are professional and efficient.” – Banking and finance
Work highlights
Advised underwriters on the issuance of treasury bonds by the Ministry of Finance of the People's Republic of China (PRC) in Macao SAR. The transaction, completed in October 2023, involved a Rmb50 billion ($7 billion) bond issuance, making it the largest single issuance in the Macao market to date. The firm provided legal counsel to the underwriters, ensuring compliance with Macao law throughout the process.
Key clients
Huafa Investment Holdings 2022 I Company, Industrial and Commercial Bank of China (Macau), Guangdong Provincial Department of Finance
