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.
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.
Client feedback
"Deep insight and knowledge of our business, enabling them to provide accurate and comprehensive legal advice." – Corporate and M&A
"The firm has the best corporate legal team in Macau. They are highly competent and extremely knowledgeable in business law, gaming law, contract law and IP law." – Dispute resolution
"High technical expertise and very reliable support." – Dispute resolution
Bruno Almeida
"He is wise and knowledgeable beyond his years. He is considered an extension of our team as head of legal, leading all legal efforts in Macau and abroad, overseeing everything from contracts to taxes and IP/patent law. He demonstrates energy, intelligence and impeccable character."
"He is highly reliable."
João Nuno Riquito
"João Nuno Riquito demonstrates strong ability in developing workable solutions."
Work highlights
Advising a major Macau-based multi-business holdings company on the reversion of casino assets to the Macau Government following the expiry of land-based casino concessions. The mandate includes structuring agreements between the company and its gaming subsidiary and handling major connected transactions under Hong Kong Stock Exchange rules. The $450 million matter demonstrates significant complexity due to its highly regulated nature and strict completion deadlines.
Advising a prominent Macau-based shareholder on the $340 million capital restructuring of a local airline company. The mandate involves preparing, negotiating and drafting restructuring documentation. The transaction carries complexity due to involvement of a state-owned enterprise counterparty and the need to navigate compliance requirements across different legal systems of Macau SAR and mainland China.
Advising a minority shareholder on the $110 million capital injection into Macau International Airport Company to support the airport's major expansion project. The work involves structuring and implementing the capital restructuring, including coordination of multiple investment rounds from both private shareholders and public funding sources. This represents a strategic infrastructure development for Macau's future growth.
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
Fátima Lam
"She is professional, highly efficient and provides excellent service."
Work highlights
Advising the underwriters on the People's Government of Guangdong Province's Rmb2.5 billion ($348 million) local government bond issuance in Macau SAR. The transaction comprises a Rmb1.5 billion two-year green bond for Pearl River Delta environmental projects and a Rmb1 billion three-year special bond supporting infrastructure development in the Guangdong-Macao Deep Cooperation Zone in Hengqin. This marks the first special bond issuance promoting Guangdong-Macau cooperation and strengthens Macau's integration into national development initiatives.
Advising the underwriters on the Ministry of Finance of the People's Republic of China's Rmb5 billion treasury bond issuance in Macau SAR. This marks the third consecutive year of such issuances in Macau, bringing the total value to Rmb15 billion. The transaction underscores the central government's commitment to developing Macau's modern financial industry and promoting economic diversification.
Advising Bank of China (Macau branch) on its Rmb1 billion bond issuance, marking the first Hong Kong-Macau "Interconnected" thematic bonds in the Macau market. The two-year bonds carry a 2.5% interest rate and represent a significant milestone in deepening financial cooperation between the two SARs by enabling more efficient cross-border investment access through interconnected bond market infrastructure.
Key clients
AGTech Holdings, Elite Success International
