Hong Kong law firm with commercial lawyers onprofessional legal services to Hong Kong companies, commercial litigation, civil litigation, legal disputes, contract drafting, criminal lawyers representations in courts, divorce proceedings.
Yip, Tse & Tang ("YTT") is a Hong Kong law firm. Our commercial lawyers focus on commercial law practice and provide a full breadth of legal services to businesses and corporations. Founded in 1994, the law firm now has more 0 lawyers. The total staff force exceeds 100. We have over 15 law offices located in different parts of Hong Kong. Clients come to our law offices with ease and convenience.
Our Commercial Law Office
We have two law offices serving on our clients' needs on commercial legal matters including commercial litigations, civil litigations and disputes. They are posted with lawyers focusing on this line of legal practice. They serve your legal needs whether the matter is of transactional or non-contentious nature or contentious or litigious.
The offices work as a team throughout all legal projects. Senior and junior lawyers team up to work for legal rights and interests of our commercial clients. The legal team has excellent experience and practical knowledge in:
corporate or commercial transactions,
investigatory matters such as by law enforcement agencies (ICAC, CCB, C&E and SFC)
To certify identity. As a person: This can be a person or a company. A person's identity usually involves his identity documents such as passport and citizen ID cards. As a company: A company's identity refers to its registration documents e.g. certificate of incorporation and business registration records.
Dealing with legal requirements in international business transactions. The range of the category is wide. It can be in any forms of commercial transactions, sales and purcahses.
When buying property abroad: title or mortgages as required by the foreign laws
To witness Powers of Attorney, authorisation or agent appointment
When setting up a business or company abroad
To sponsor relatives from abroad
When adopting children
When dealing with travel documentation and work permits
For legal documents to be used internationally:
USA, Canada, European countries, Russia, South America, Middle East, Africa, Taiwan, Macau and other Asia regions/countries. We have 2 full-time notary public.
Notary Service Fee: HK$900 or up.
Speedy same-day or immediate Service for Simple Documents and Witnessing (requiring a Notary's attestation or signature) for no extra charge.
Our lawyers represent Hong Kong and international businesses or corporations on legal aspects of various transactional matters. Whether routine legal transactions arising from daily business operations or a high stakes transaction your business is facing, we can give our legal help.
Sound and Practical Legal Advice
We provide sound and practical legal advice putting your business decisions in the right legal perspective. Our lawyers can take part in your business negotiations by offering your sensible legal advice and assistance. We also strive to provide you and your business with prompt and trusted legal advice using our legal expertise.
Civil litigation results in significant legal costs and time. Experienced and responsible lawyers try to avoid litigations or court proceedings. Our lawyers will advise their clients to avoid disputes. Our litigation lawyers help clients to study and analyze the matters, finding out their legal strength and weakness, applying the relevant laws and recognize the possible legal consequences.
Litigation is unavoidable in some cases. Our experienced litigation lawyers deal in litigation issues arising out of breach of contract, civil fraud or torts, negligence or breach of fiduciary duty. Further information www.hongkonglitigation.com
Mediation and Arbitration
These are means of disputes resolutions on legal battles serving as alternatives to litigations (ADR). Consult our litigation lawyers further for your legal need.
Business relationships between two or more parties must be defined carefully to protect the rights of all the parties. A contractual dispute arises when one of the parties breaks the terms or conditionsin the contract. This has a harmful impact on the others.
Civil Fraud and Criminal Theft
When a commercial entity such as a company makes a false representation of a material fact and it causes physical or financial harm, civil fraud occurs. Our commercial lawyers help their clients to get adequate compensation for the harm caused due to the negligence of the commercial entity. This can be done by commencing a civil litigation in Court and obtaining court's injunction to freeze the fraud proceeds.
Quite often, civil fraud carries criminality, we help client to make a report to the police, ICAC or other law enforcement agencies.
Lawyers of Yip, Tse & Tang can provide one with the useful legal advice and help in resolving all the issues involving legal procedures and methods. Let us know your legal problem in your business and ask our legal opinions. The main purpose of hiring us as your lawyer is to ensure that your problem is understood and appropriate legal measures are taken to resolve it. Don't waste time in pondering it. ACT NOW!
Need Of Legal Experts in Commerce/Business
All businesses need lawyers to handle their routine legal matters in commerce in a competitive and economic manner. These include drafting contracts, getting legal advice, preventing disputes and resolving disputes.
Our commercial lawyers are well equipped to make a constructive representation in accordance with the client’s goals and objectives. We are well experienced to resolve the various issues through mediation, litigation, negotiation, or arbitration. A good commercial lawyer also defends his client’s case vigorously in all types of trials and appeals.
A contract is a legal document binding you and another party to certain obligations. This is very important on commercial transactions. Merchants rely on contracts to enforce their legal rights. Making one tiny mistake in drafting a contract could mean a lot to a business:
loss of time in disputes when time can be spent in business course
loss of money in disputing through legal proceedings
loss of reputation due to publicity of disputes
loss of customers if the dispute relates to your customers.
Before you sit down to create a contract, take some time to learn the most common mistakes business owners make when they're drafting a contract.
6 Common Mistakes on Drafting Commercial Contracts
Mistake #1: Being unprepared.
Insufficient facts, figures, and data. Insufficient understanding of costs, due dates, obligations, responsibilities
Mistake #2: Not binding as a "contract."
Contract has a legal meaning in law. If you don't put sufficient elements in it, it fails to be enforced in court.
Mistake #3: Terms too vague.
The terms and clauses are too wide or too vague to cover sufficient matters. It therefore leaves much room for disputes or arguments. Some are supplemented by oral terms which become factually arguable.
Mistake #4: Confusing wording.
Sentences are too brief or unclear. At times, wrong wordings or words are used. Terms are drafted in bad English or incomprehensible terminologies.
Mistake #5: Too hurried.
Parties rushed to sign the contracts just want to get the deal done as quickly as possible. Many terms are left opened and undecided. This results in room for disputes.
Mistake #6: Not using a lawyer.
You can prepare a draft or set out your most important terms and conditions. But you should always find a lawyer to review the final document. If you don't know a thing, you just don't know. Don't think that you are as good as a lawyer. It's better to be overly cautious now than to be sorry later. A dispute can cost 10 or even a hundred times of your legal expenses. A lawyer makes a little less but a dispute can ruin your life or cost your entire business.
Our Corporate & Commercial Legal Practice handles major aspects of business, financing, corporate structuring, acquisition and disposition of assets and shares, joint ventures and cooperation issues facing businesses.
Area of our Legal Practice
Our legal practice in this area includes the following:
Commercial agreements, including distributorship and franchising contracts, agency contracts, construction contracts, agreements for the sale, purchase or manufacture of goods, and management and consulting contracts
Corporate assets or shares purchase and disposition
Corporate organization and reorganizations
Establishment and maintenance of corporate structures using Hong Kong and offshore entities
Intellectual property matters including registration, licensing, protection and enforcement of trademark rights, patents, registered design and other intellectual property rights
In Hong Kong, discretionary trusts are used by families to make long-term financial provision for sons and daughters. It is a form of "family trust". The key point about a discretionary trust is that funds or property put into the trust do not count as assets for the purposes of benefits or in terms of the responsibility of the local authority or health authority to fund care. This is because the funds put into a discretionary trust do not belong to the beneficiaries but to the trust.
Why is it called a Discretionary Trust?
This kind of trust is administered by trustees. The deeds which set up the trust give the trustees discretion as to how the funds are to be used. The intended beneficiaries have no rights to either the income or capital held in trust. To work in terms of financial planning for children an additional characteristic is usually that the trust is set up for the benefit of a group of people, not a single person. This can be a 'class' of beneficiary of whom the son or daughter is a member, for example all people with Downs Syndrome or with an Autism Spectrum Disorder.
Can I put my house into a Discretionary Trust?
Yes. Your home is an asset and can therefore be put into trust. This is commonly done through setting up a trust in the parents' will which makes provision for the property to be put into trust. There are several reasons why this may be a good idea.
First, the trustees can undertake the task of managing and maintaining the property. This is particularly important where the disabled person may lack legal capacity and therefore would be unable to manage money and to contract for the maintenance services.
Second, because the property is put into trust it does not belong to the individual and therefore cannot be subject to a legal liability owed by a beneficiary.
Entertainment law is generally sub-divided into the following areas:
DEFAMATION (LIBEL OR SLANDER) Hong Kong's defamation laws protect reputation of a person. Generally speaking, Libel means defamatory statements made on papers or a fixed media while slander is something verbal. The difference is legally important !
FILM covering option agreements, finance, chain of title issues, talent agreements (screenwriters, film directors, actors, composers, production designers), production and post production and trade union issues, distribution issues, motion picture industry negotiations distribution, and general intellectual property issues especially relating to copyright and, to a lesser extent, trademarks
MULTIMEDIA including software licensing issues, video game development and production, Information technology law, and general intellectual property issues
MUSIC including talent agreements (musicians, composers), producer agreements, and synchronization rights, music industry negotiation and general intellectual property issues, especially relating to copyright
PUBLISHING and print media issues, including advertising, models, author agreements and general intellectual property issues, especially relating to copyright
TELEVISION and RADIO including broadcast licensing and regulatory issues, mechanical licenses, and general intellectual property issues, especially relating to copyright
THEATRE: including rental agreements and co-production agreements, and other performance oriented legal issues
VISUAL ARTS AND DESIGN including fine arts, issues of consignment of artworks to art dealers, moral rights of sculptors regarding works in public places; and industrial design, issues related to the protection of graphic design elements in products.
A prenuptial agreement in Hong Kong is commonly abbreviated to prenup or prenupt.
A prenuptial agreement is a contract entered into prior to marriage, civil union or any other agreement prior to the main agreement by the people intending to marry or contract with each other. In the situation of Hong Kong, we mean 'prior to marriage".
to cut huge legal fees in disputes that can last for years
save parties from mental trauma in litigation
resolve financial issues more easily
reduce chance of personal attacks which hurt both parties
option to deal with marital relation
Content of Prenuptial Agreement
The content of a prenuptial agreement can vary widely, but commonly includes:
division of property and
spousal support in the event of divorce or breakup of marriage
terms for the forfeiture of assets as a result of divorce on the grounds of adultery
conditions of guardianship
In some countries, including the Netherlands, the prenuptial agreement not only provides for the event of a divorce, but also to protect some property during the marriage, for instance in case of a bankruptcy. Many countries, including Canada, France, Italy, and Germany, have matrimonial regimes, in addition to, or some cases, in lieu of prenuptial agreements.
Postnuptial agreements are similar to prenuptial agreements, except that they are entered into after a couple is married.
When the husband and wife go for a divorce, what the divorce court is envisaged to consider regarding the importance of a pre-nuptial agreement may be as follows. Nevertheless, these are general rules and applicability differs when it comes before different judges. Please consult your lawyer before you make up your mind:
whether the Pre-nuptial Agreement has made full disclosure of the assets of the parties.
is the size of the assets significant? The more the assets, the more weight to be given by the court
How long the marriage has lasted? The longer the marriage, the less the weight attached by the Court. This is because with the passage of time, the family will more likely have experienced more changes in terms of family composition such as the growing up of children, the sacrifice of the married parties in the course of family commitment, illness, financial and income changes. This does not mean that a short marriage will make a pre-agreement obsolete. The key point is the post-marriage changes to the family. For instance, sudden coming of tragedy to the family out of illness or financial change due to huge investment loss or business loss.
Our conveyancing legal team stands ready to assist you in completing the title acquisition of the property you intend to purchase in Hong Kong. We have extensive experience and skill sets on dealing with purchase of houses, apartments, commercial properties such as offices and factories.
Below we have some helpful information on buying real estate in Hong Kong and what the process involves. Our legal team can guide you through the whole process very simply so you that you do not unwittingly fall into any traps due to a lack of understanding.
Are there restrictions on foreign ownership?
There are NO restrictions. Foreigners are permitted to own any land or properties in Hong Kong without any restrictions.
What are my ownership options?
The nature of ownership is not freehold but rather a long leasehold. For example, land situate in the New Territories has a lease term up until year 2047. In Hong Kong, you have the option to buy as an individual (including joint names with your spouse) or through a corporation. For large projects, its best to own property through a Hong Kong corporation.
Step One: Confirm the title
People usually find a property through an estate agent. On finishing negotiation, the estate agent will arrange you to pay an initial deposit (which is usually up to 4% of the purchase price) and to sign a provisional agreement for sale and purchase with the seller. A provisional agreement for sale and purchase consists of pre-printed standard terms widely adopted in the property market.
Before the signing, the first thing you need to do is confirm the legal owner of the property. This is done by making a title search at the Land Registry which is a Government department deposited with all property instruments on land. Either the estate agent or your lawyer may do that on your behalf.
Step Two: Checking the Title
Unlike many other countries, Hong Kong does not practise title registration. Therefore, owner's title is not proved by a title certificate. To ascertain the title, you need a conveyancing lawyer to investigate the title by perusing all instruments relating to the property you intend to purchase. Title investigation is usually done by your lawyer after the signing of the formal agreement for sale and purchase.
Step Three: Signing of Formal Agreement for Sale and Purchase
After you have signed the provisional agreement for sale and purchase, the estate agent will help you to pass its copy to your lawyer. Your lawyer will then contact the seller's lawyer. They will negotiate and agree on the terms of the formal agreement for sale and purchase. After agreement, your lawyer will arrange you to sign it and at the same time arrange you to pay the balance of deposit. By this stage, you will have paid a sum equal to 10% of the property price.
Step Four: Registration of the Formal Agreement for Sale and Purchase
Your lawyer will cause the registration of the formal agreement for sale and purchase at the Land Registry to protect your interest in the property.
Your lawyer will eventually receive the title instruments from the seller's lawyer. He will check the title and give advice you on its title aspect. He may do updated search at the Land Registry if necessary and raise title questions to the seller's lawyer to answer.
Getting clean title to property can be a problem and therefore you need an experienced conveyancing lawyer.
Step Five: Deed Execution: Assignment for Transfer of Title
Once you are satisfied that the title is in order you will sign an assignment with the seller with the arrangement by your lawyer. An assignment is a deed which helps to transfer the property's title to you. You arrange for payment by arranging financing.
Step Six: Transfer the Funds
Purchase price is paid by cheques drawn at your lawyer's bank account. Your lawyer will arrange with you to make sure that your money is available in their account to pay for you by their cheques. The safest thing is pay your lawyer the money several days before the completion date to enable clearance of the fund. This is extremely important in Hong Kong because non-payment before the agreed completion time on the completion date will mean your breach of the agreement. Breach will result in loss of the deposit and a seller's claim for other losses. When your lawyer has paid the purchase price for you in full to the seller, the seller will send the keys of the property to your lawyer to enable you to take possession of it.
Step Seven: Register the Assignment at the Land Registry
Your lawyer will do this for you in order to protect your interest in the property. Once the registration process is completed, your lawyers will give you the registered deeds and the property will be yours. In case your purchase is financed by a bank's mortgage, the registered deeds will be passed to the bank for their custody as a lending security.
Transaction Costs: Commission and Legal Cost
Real estate agent commissions typically 1% of the price and are paid by the seller and the buyer each. The legal fee to your lawyer is by agreement. There is no standard fee. Agree the fee with your lawyer before you appoint them to deal with the conveyance. The buyer must pay the expenses registering the new deeds. The amount is fixed by the Government. For example, it is $500 to register a mortgage deed. The same fee amount applies to an assignment.
You have to pay the Government stamp duty on the transaction.Property below $2,000,000 is $100 only. If you let a property to a tenant, you have to pay the property tax on the rental income. However, there is no capital tax in Hong Kong.
It is easy to get a mortgage in Hong Kong if you have an income. Local financing is widely available for foreign residents. Many banks in Hong Kong are extremely active in the mortgage loan markets. They offer terms to home buyers with competitive rates. The loan term can be as long as up to 25 years.
PROPERTY HOTLINE: 68388789 David Mann (Office at Central, Hong Kong)
In Hong Kong matrimomial legal proceedings include divorce, maintenance, child custody and adjustment on matrimonial properties or assets. Contentious proceedings are dealt by the Family Court, Hong Kong.
We provide matrimonial clients with our complete attention and act quickly in response to their legal needs. We have a team of lawyers who are skilled and experienced in Hong Kong matrimonial legal matters: divorce, maintenance and child custody.
We are also able to give legal advice on financial settlements and/or children issues. In the break-up of relationships, we offer a complete legal service including:
Capabilities: multiple areas of practice with emphasis on Commercial Laws, Contracts Drafting, Commercial Disputes & Litigations, Family & Matrimonial Disputes, Family Trusts & Wealth Planning
Current no. of lawyers: over 30.
Notaries Public: 2
Civil Celebrants of Marriages: 10
China-Appointed Attesting Officer: yes
Total no. of staff: about over 150
Total no. of bankruptcies handled: more than 10000
Total no. of individual debt restructuring: more than 1200
Law Offices: Hong Kong Island, Kowloon and NT.
Corporate Social Responsibility awards: 5-Year Plus Logo Caring Company Award by Hong Kong Council of Social Services AND Outstanding Partnership Award: Wise Financial Planning and Debt Counselling Project with Caritas Hong Kong
CAAO: Hong Kong Documents for Use in Mainland China
We have one China-appointed Attesting Officer.
Appointed by the Chinese Ministry of Justice, Mr. Patrick Lam. He is therefore authorised to attest or certify acts, matters and documents with a legal meaning in Hong Kong for use in Mainland China.
Acts, matters and documents emenating from Hong Kong requiring trusted proofs in Mainland China.
Notary Public in Hong Kong may notarise documents, matters and acts for use overseas, except in Mainland China. Therefore, you need a China-appointed Attesting Officer.
Documents, matters and acts of Hong Kong needed to be used in Mainland China require attestation, certification or witnessing by a China-appointed attesting officer. It is usually called "attesting" services instead of "notarial" services.
Notary Public & Apostille: Non-Mainland China countries, Taiwan & Macau