José Filipe Salreta
Updates
Banking & Financial Services
Registration of investment funds in Macau
Macau | 20 January 2015Investment funds are an important means of furthering economic development by attracting savings and reducing the risk inherent in any investment across a variety of assets held in portfolios. Decree-Law 83/99/M regulates the constitution and operation of investment funds and investment fund management companies. Fund creation is conditional to prior authorisation from the Monetary Authority.
New supplement amends financial cooperation provisions of CEPA
Macau | 03 August 2012The Mainland/Macau Closer Economic Partnership Arrangement (CEPA) aims to promote preferential access to the Chinese market for qualifying products, companies and residents of Macau. Supplement IX to the CEPA revised previous measures regarding the trade and investment facilitation sector in order to strengthen this area. The supplement takes measures to improve access to the banking and financial sectors.
Corporate & Commercial
Is 2019 novel coronavirus case of force majeure under Macau law?
Macau | 02 March 2020Although Macau has largely been spared the human toll of the 2019 novel coronavirus, the region's economy will suffer greatly in the short term. The unpredictable nature of the outbreak and the important human and economic costs deriving therefrom have led to inevitable questions, such as what kind of legal consequences can this virus entail? Further, if the severe economic downturn affects the fulfilment of contracts, could this be a case of force majeure, and could contracts be rescinded on this basis?
Amendments to Commercial Registry Code: a brief analysis
Macau | 21 May 2012The Macau Special Administrative Region has seen economic growth accelerate in recent years, mainly due to the liberalisation of the gaming industry, a mainstay of the local economy. This, together with the fact that the public administration must keep pace with the latest technological advances, led to a demand for the amendment of the Commercial Registry Code.
Private Client & Offshore Services
Data protection exemptions due to COVID-19
Macau | 07 May 2020Although several entities have collected and processed personal data based on genuine public health reasons since the early stages of the COVID-19 outbreak, such activity lacked sufficient legal grounds in light of the obligation to notify the Office for Personal Data Protection (OPDP). In order to remedy this situation, the OPDP has published three authorisations which exempt entities that process personal data from the requirement to notify it of such processing.
Is 2019 novel coronavirus case of force majeure under Macau law?
Macau | 27 February 2020Although Macau has largely been spared the human toll of the 2019 novel coronavirus, the region's economy will suffer greatly in the short term. The unpredictable nature of the outbreak and the important human and economic costs deriving therefrom have led to inevitable questions, such as what kind of legal consequences can this virus entail? Further, if the severe economic downturn affects the fulfilment of contracts, could this be a case of force majeure, and could contracts be rescinded on this basis?
Government policy in light of Macau's demographic and economic challenges
Macau | 28 January 2016The recent rapid growth of Macau's economy, largely based on the gaming industry, has resulted in the highest income per capita in the world. However, the same economic developments have put enormous pressure on the human and social fabric of Macau. The consequences of these economic and social changes have been tentatively remedied by measures announced by Macau's secretary for security.
Registration of investment funds in Macau
Macau | 15 January 2015Investment funds are an important means of furthering economic development by attracting savings and reducing the risk inherent in any investment across a variety of assets held in portfolios. Decree-Law 83/99/M regulates the constitution and operation of investment funds and investment fund management companies. Fund creation is conditional to prior authorisation from the Monetary Authority.
New Urban Planning Law
Macau | 03 October 2013A new Urban Planning Law has been enacted which deals with the objectives and hierarchy of urban plans, but with the prevalence of a master plan to establish strategic guidelines for the entire Macau Special Administrative Region. The law binds public and private entities to urban plans and determines the responsibility of the Land, Public Works and Transport Bureau for technical assessment of urban planning.
New legal regime on promissory transmissions of buildings under construction
Macau | 16 May 2013The purchase and sale of units in buildings under construction is common practice in Macau's real estate market. However, the legal regime for real estate transactions in Macau does not cover buildings under construction. New legislation has therefore been proposed in order to enhance the transparency of transactions, streamline the performance of the market and safeguard the interests of the parties concerned.
Revised special stamp duty as a remedy for real estate speculation
Macau | 10 January 2013Speculation in the housing market has boomed due to Macau's economic development. The government sought to contain this by imposing a special stamp duty on property or property rights transactions; however, it soon became clear that the scope of such duty was too limited. Therefore, a new law seeks to expand the special stamp duty to other forms of property, as well as imposing a new tax on housing transactions.
New supplement amends financial cooperation provisions of CEPA
Macau | 02 August 2012The Mainland/Macau Closer Economic Partnership Arrangement (CEPA) aims to promote preferential access to the Chinese market for qualifying products, companies and residents of Macau. Supplement IX to the CEPA, which was signed recently, revises previous measures regarding the trade and investment facilitation sector in order to strengthen this area.
Amendments to Commercial Registry Code: a brief analysis
Macau | 24 May 2012The Macau Special Administrative Region has seen economic growth accelerate in recent years, mainly due to the liberalisation of the gaming industry, a mainstay of the local economy. This, together with the fact that the public administration must keep pace with the latest technological advances, led to a demand for the amendment of the Commercial Registry Code.
Real Estate
New Urban Planning Law
Macau | 04 October 2013A new Urban Planning Law has been enacted which deals with the objectives and hierarchy of urban plans, but with the prevalence of a master plan to establish strategic guidelines for the entire Macau Special Administrative Region. The law binds public and private entities to urban plans and determines the responsibility of the Land, Public Works and Transport Bureau for technical assessment of urban planning.
Revised special stamp duty as a remedy for real estate speculation
Macau | 11 January 2013Speculation in the housing market has boomed due to Macau's economic development. The government sought to contain this by imposing a special stamp duty on property or property rights transactions; however, it soon became clear that the scope of such duty was too limited. Therefore, a new law seeks to expand the special stamp duty to other forms of property, as well as imposing a new tax on housing transactions.
Tech, Data, Telecoms & Media
Data protection exemptions due to COVID-19
Macau | 08 May 2020Although several entities have collected and processed personal data based on genuine public health reasons since the early stages of the COVID-19 outbreak, such activity lacked sufficient legal grounds in light of the obligation to notify the Office for Personal Data Protection (OPDP). In order to remedy this situation, the OPDP has published three authorisations which exempt entities that process personal data from the requirement to notify it of such processing.
