Macao SAR



asialaw Analysis

General business law
Ai & Wong Lawyers

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 ($127m) acquisition of hotel projects. This transaction is the largest hotel project acquisition in Macau since the epidemic.

CFB Lawyers

CFB Lawyers makes no bones about its agenda. The firm generated immediate buzz upon its formation just last year, and not without justification. The firm often works for banks, as well as acting for one of the gaming concessionaires in Macau. Intellectual property, labour and employment and insurance are some other areas the firm is also well versed in. One of the founding partners to note is Hugo Maia Bandeira, who focuses his practice on banking and finance, corporate, gaming, leisure and hospitality. Before setting up the firm, he was a partner at Manuela António – Lawyers and Notaries.

Client feedback

“CFB Lawyers demonstrated that they are very knowledgeable of the law as well as of the particularities of the region. Communication is on point, always replying efficiently and swiftly to our queries.” – Banking and finance

“They are a young and trending firm with strong knowledge of the market and at the same time with several years of experience.” – Corporate and M&A

“Perfect handling with excellent results.” – Labour and employment

Hugo Maia Bandeira

“Excellent interpersonal skills, very patient and helpful at accommodating our requests.”

“Strong knowledge of the market. He has confidence, experience and above all an ability to make the connection and link from complex laws and terms to us.”

Victor Castro

“Knowledgeable, proactive and diligent.”


Work highlight

Acted as Macau counsel for its client on the issuance of green bonds, which was the largest single issuance of green bonds in Macau.

Manuela António – Lawyers and Notaries

Manuela António – Lawyers and Notaries is known for its expertise in aviation, banking and finance, and gaming. Partner Hugo Ribeiro Couto focuses his practice on litigation, being involved in several disputes concerning civil, corporate, real estate, insurance and administrative matters. Partner Hugo Bandeira left the firm in May 2021.


Work highlights

Advised a bank on a term loan granted to a borrower’s group and related security package on a Macau law perspective.

Advised a bank on a multi-jurisdictional questionnaire regarding financial products and services to be eventually provided by the bank on a cross-border basis and the respective licensing and regulatory issues.

Rato Ling Lei & Cortés

Rato Ling Lei & Cortés specialises in banking and finance, capital markets, corporate and M&A, and dispute resolution. The firm’s industry strengths are in the gaming, IT and real estate sectors. San Chi Chang was promoted to senior partner during the research period.

Client feedback

Pedro Cortes

“Superb industry and regulatory knowledge and a fantastic communicator.”


Work highlights

Advised Fujian Investment & Development Group on its issuance and listing of bonds on the China (Macau) Financial Assets Exchange (MOX). This bond is the first public corporate bond issued by a PRC provincial state-owned enterprise in Macau.

Advised UBS on its asset management guidelines and instructions to conduct cross-border business with clients in Macau.

Key clients

Great Wall Belt & Road Holdings, Jinjiang Road and Bridge Construction & Development, Lai Sun Development Company

Riquito Advogados

Riquito Advogados is ranked ‘Outstanding’ in general business law. Led by managing partner João Nuno Riquito, the firm’s core practice areas include corporate and M&A, intellectual property and litigation. The firm has been expanding its IP and gaming practice in order to follow the development of Macau SAR as a gaming hub.

Client feedback

Bruno Almeida

“Good understanding of our business, excellent skills in contract drafting and negotiating ability in dealing with lawyers from our buyers.”


Work highlights

Advised one of the six casino gaming concessionaires on all matters related to the revision of the Macau Gaming Law.

Advised the major shareholder of a casino gaming concessionaire in structuring a transaction for the transfer of rights over the real estate of some of the so-called ‘satellite casinos’.

Advised one of the shareholders of the Macau flag air carrier on the drafting and negotiation of a shareholders’ agreement.