Macau, Rato, Ling, Lei & Cortés Advogados updates

Private Client & Offshore Services

Contributed by Rato, Ling, Lei & Cortés Advogados
Fiscal consequences of offshore regime revocation
  • Macau
  • 11 July 2019

Macau's offshore regime will be revoked on 1 January 2021. While the main reason for establishing an offshore company is to take advantage of an offshore regime, primarily for tax benefits, in light of this impending revocation, such advantages will soon be inapplicable to offshore companies established in Macau.

New rules for companies incorporated under offshore regime
  • Macau
  • 25 April 2019

Since 1 November 1999, hundreds of companies have been incorporated under Macau's offshore regime. However, following the Legislative Assembly's recent approval of Law 15/2018, the offshore regime and its associated companies' days are numbered. Until 1 January 2021, some economic activities relating to foreign markets will continue to benefit from the offshore regime, including those performed exclusively by non-resident institutions authorised to operate in Macau.

Macau banking and financial services overview: legal update
  • Macau
  • 18 April 2019

In 2018 and 2019 the legislature approved numerous laws to reinforce Macau's economic stability and international fiscal cooperation. Further, the government put forth for discussion numerous draft laws to stimulate diversification in the economy and encourage the development of the financial leasing industry. Additional measures are expected in 2019 and 2020 to develop the Guangdong-Hong Kong-Macao Greater Bay Area and overcome the challenges presented by today's cross-border financial activities.

New legal regime regulating taxi services
  • Macau
  • 22 November 2018

A new draft law proposes to reformulate the legal framework regulating Macau's taxi services. According to public opinion, taxi services are neither fulfilling customers' needs nor responding to the high demand caused by increased tourism. As the existing legal regime governing this sector has been in force for more than 18 years, reforms are long overdue. However, the new draft law has failed to satisfy public expectations as it provides no space for the use of app-based ride-hailing services.

New legal regime to encourage financial leasing activity
  • Macau
  • 11 October 2018

The government recently introduced two new draft laws to increase financial leasing activities in Macau. Replacing legislation that has been in force for over 20 years and considered a necessary condition for developing financial activity in Macau, the new legal regime will reclassify financial leasing entities as 'non-depository institutions', make the supervision of these entities more flexible and allow for the creation of special financial vehicles in Macau.

Current search