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Rankings published in 2026

CFB Lawyers is a full-service law firm located in the Macau Special Administrative Region of the People’s Republic of China. The firm was founded in 2021 by former Manuela António lawyers and local notaries partners Hugo Maia Bandeira, Bernardete Fan and Victor Castro. CFB Lawyers integrated with the Asociación Europea de Abogados international lawyers' network in 2023 as a member for the Macau SAR. 

Highlights 

The firm specialises in providing expert counsel on financing transactions and capital markets, advises and supports both lenders and corporate and individual borrowers in a wide range of financing transactions, including domestic and cross-border arrangements, syndicated facilities, and debt issuance. In the aviation sector, the firm boasts a wealth of experience advising on all aspects of private and commercial aircraftengine and ground handling equipment, including leasing, charter, acquisition, disposal and registration. 

Additionally, the firm is active in corporate M&A as well as the insurance sector, regularly handles non-contentious compliance concerns, as well as issuance of licences for life-insurance or non-life-insurance businesses. 

Testimonials 

Hugo Maia Bandeira 

Well-organized, detail oriented, highly efficient, high-quality work.” (Bank lending – lender side client) 

José Lupi & Associates is a full-service law firm in Macau SAR with a unique international approach that offers a different perspective to commercial thinking and client experience, and an international team of multi-qualified lawyers focused in Greater China and its Greater Bay Area, Belt and Road Initiative, and the Portuguese, Spanish and French-speaking countries in Africa, Iberia and Latin America. 

The firm consists of lawyers fluent in eight languages and qualified to practise in Macau, mainland China, Brazil and Portugal. In 2022, KWM Hengqin was established by King & Wood Mallesons and José Lupi Escritório de Advogado, Pedro Leal Advogado e Notário Privado. It is licensed to practice both PRC Law and Macau law and is in the Guangdong-Macau In-depth Cooperation Zone in Hengqin. 

Highlights 

The firm provides comprehensive legal representation to clients across all economic sectors in Macau, with specialties in various areas such as debt and equity capital markets, wealth management, private equity and funds, corporate and M&A, banking and finance, arbitration, dispute resolution and litigation, real estate, tax, and betting and gaming. 

Founded in 2006, BN Lawyers is an international-focused firm based in Macau. It has additional offices in Lisbon. The firm provides cross-continent services incorporating clients in Macau, Portugal, Singapore and mainland China.  

 

Focusses / specialisms 

The firm specialises in corporate and business law, it has an international focus, assisting the incorporation of companies seeking to operate in Macau. It is active in banking, derivatives capital market, investment funds, M&A and related regulatory matters.  

 

Client feedback: 32nd edition (2022/2023) 

M&A 

“Perfect professional Macao-related legal services.” 

“Advise on the procedures for liquidation from the Macau law perspective, assist with the liquidation matter.” 

C&C Lawyers Ltd is one of the leading law firms in Macau Special Administrative Region. Established in 1996, C&C was formed by two founding partners Rui José da Cunha and António Correia, together with Nuno Sardinha da Mata and Carlos Duque Simões. Apart from the firm’s headquarters in Macau, it has offices in association with law firms in Portugal, Timor-Leste, Cabo Verde and China. The firm has also been in cooperation with Dentons Zhuhai since 2021.

 

Focusses / specialisms

The firm has extensive expertise in corporate and commercial, banking and finance, bankruptcy and restructuring areas. The firm regularly provides legal advice to banks and financial institutions, covering all kinds of operations, products and financial instruments including project finance, structured products, guarantees and letters of credit, derivatives, mortgages, setting up and commercialisation of investment funds, consumer credit and classic financing.

Research period review: 33rd edition (2022/2023)

The firm kept busy in banking and finance, corporate, and restructuring and insolvency practices. Active industry sectors include real estate, gaming, energy, healthcare, TMT, insurance and transportation.

The firm’s banking team consistently provides legal services in the regulatory compliance area, also in banking, real estate and trade financing.

In capital markets, the firm have broad experience in advising on IPOs and fundraising in in foreign stock exchanges, such as Hong Kong and Singapore. Apart from that, the team also provides legal advice on derivative transactions such as ISDA and GMRA involving Macau entities.

The firm’s corporate work includes assistance on incorporations, joint ventures, corporate restructurings, stock exchange transactions, bankruptcies and insolvencies.

Manuela António Advogados is a firm of lawyers and notaries based in Macau SAR. The practice was founded in 1986 by long-time resident Manuela António and has since grown to be among one of the leading firms in the market. The firm has a joint venture with Portuguese law firm SRS Advogados and is currently in a joint venture with Jingsh Law Firm to set up a law firm in Hengqin. 

Highlights 

The firm is particularly strong in finance and active in the gaming and financial services sectors. Throughout the research period, the firm has undertaken various finance and refinancing mandates for a diverse portfolio of clients, including those in the shipping, engineering, investment holding, commercial offshore and manufacturing industries. 

It is also worth mentioning that the firm recorded more than 70 financial transactions last year. Regarding financing transactions, the firm participated in over 30 transactions during the same period. 

Key clients 

Key clients of the firm include BNP Paribas, China Construction Bank, Citibank, Hang Seng Bank, and The HongKong & Shanghai Banking Corp. 

Lektou is a Macau-based law firm with roots dating to the 1980s under the legacy of Gonçalves Pereira & Rato. The firm has offices in mainland China (Hengqin, Shenzhen), in partnership with Chinese firm Zhong Yin Law Firm and Fongs Law Firm of Hong Kong, and in Portugal. The firm has also joined the global network the Miranda Alliance, which has offices in all Portuguese-speaking jurisdictions. 

Highlights 

The firm boasts a formidable standing in the equity capital markets, particularly in relation to Hong Kong listings. Additionally, Lektou is known for its involvement in regulatory and gaming affairs with active practice areas including financial and corporate, gaming, M&A, capital markets, dispute resolution, real estate, IT, insurance and regulatory. 

Throughout the research process, the firm has maintained a strong presence in the areas of banking, finance and capital markets. It has advised regulators and issuers on bond-note issuance and green bonds, and provided guidance regarding regulation changes. One notable transaction involved assisting with the issuance of Rmb380 million (US$53 million) in credit enhanced notes by UETD Construction & Development State-Owned Capital Investment Operation (Group) Co. 

In 2024, the firm recruited partner Luís Portela de Carvalho to bolster its corporate and regulatory department. 

Key clients 

Key clients of the firm include Bossini International Holdings, CEM-Companhia de Electricidade de Macau, Companhia do Aeroporto de Macau, Macau Monetary Authority, and Wynn Resorts. 

Testimonials 

"Pragmatic approaches, extremely reliable and responsive." (Banking and finance client) 

"Professional work." (Banking and finance client) 

Beatriz Segorbe 

"Beatriz is extremely reliable and responsive. She is very knowledgeable and patient in her explanations. It is a pleasure working with her." (Banking and finance client) 

Calvin CUI 

"Very professional." (Banking and finance client) 

Riquito Advogados is an independent Macanese law firm with offices in Macau and Portugal, consistently providing quality legal services in both Europe and Asia in a wide range of legal matters, for clients based all over the world.  

Additionally, the firm has a good relationship with Herbert Smith Freehills and has an association with Portuguese law firm AAA Advogados. 

Highlights 

The firm has a notable history of handling corporate and contract law, mergers and acquisitions, restructuring and refinancing, real estate, foreign investment, transportation and public procurement matters. They often support clients involved in significant transportation, hospitality and real estate ventures, and are regularly chosen for transactions and projects involving the governments of Macau and Portugal. 

Key clients 

Key clients of the firm include Sociedade de Turismo e Diversões de Macau, MGM Grand Paradise, LNW Gaming Asia, and Vermilion Group. 

Testimonials 

Riquito Advogados has the most robust and competent corporate team in Macau SAR with deep knowledge of Portuguese and Macanese Law.” (M&A client) 

Their in-depth knowledge of the company business and innovative solutions to problems, and drafting of complicated contracts.” (M&A client) 

“Detailed and competent.” (Restructuring client) 

They give detail in each aspect so that we are well prepared for whatever comes next.” (Insolvency client) 

Bruno Almeida 

"Talented beyond his years, Bruno is a Top 3 corporate lawyer in Macau who is also an expert in contract law and gaming law." (M&A client) 

"Professionalism in what he does. Timing in responses. Quality of the end product." (Insolvency client) 

Joao Nuno Riquito 

“Good in explaining law implications.” (Restructuring client) 

"Highly intelligent, great mindset, deep knowledge of law." (M&A client) 

MdME is a full-service law firm based in Macau with offices in Hong Kong and Lisbon. Established in 2006, the firm regularly assists clients in the context of both their inbound and outbound investments. It is also an exclusive Macau member of Lex Mundi, the world’s leading network of independent law firms. In 2023, the firm merged with DSL Lawyers, an independent Macanese firm that was established in 2007, which increased headcount to 12 partners and more than 40 legal professionals.  

The firm is the exclusive Macau member of the World Services Group (WSG), a global network of professional business services providers and a member of the Portuguese-speaking countries partnership lead by PLMJ. 

Highlights 

The firm is highly esteemed for its robust financial and corporate practice, with particular expertise in corporate M&A, capital markets, and banking and finance. 

During the research cycle, the firm was notably active in advising investment funds, wealth management and other sectors championed by the government, including the issuance of new gaming licences. 

Testimonials 

"Very responsive and provide practical solutions." (Financial services regulatory client) 

Carlos Coelho 

"Responsive. Approachable. Knowledgeable."(Financial services regulatory client) 

Established in 2005, Nuno Simões & Associados is a Macau based law firm. It is a part of the CRA Global network of law firms located in Portuguese speaking jurisdictions.

 

Focusses / specialisms

In terms of banking and finance the firm advises local and international clients in financing transactions like facility loans, credit facilities and restructuring.

M&A work sees the firm advise buyers in cross border transactions.

 

Key clients

Notable clients for the firm include, KKR, Credit Suisse Singapore and Armstrong Teasdale.

 

Client feedback: 31st edition (2020/2021)

M&A

"Exceptionally knowledgeable in the area of the Macau M&A procedures. Very attentive and prompt in replying to conversations and questions."

Lektou
1 practice area
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LEKTOU is a law office established in Macau provides legal services to local, regional and international clients. LEKTOU is recognized for its experience in the field and for its integration in Macau and has also offices in the People’s Republic of China and Portugal.

Riquito Advogados
1 practice area
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RIQUITO ADVOGADOS is an international law firm, practicing in Macau SAR and in Portugal, consistently providing quality legal services in both Europe and Asia in a wide range of legal matters, for clients based all over the world.

RIQUITO ADVOGADOS has a significant track-record in corporate and contract law, M&A, re-structuring and re-financing, real estate, foreign investment, transportation and public procurement.

RIQUITO ADVOGADOS provides consistent advice and innovative legal solutions for the projects it is involved in.

RIQUITO ADVOGADOS is well known by its peers and by the market in general for assisting large and complex transactions and projects involving the leading conglomerates with interests in Macau SAR and in Portugal, being retained on a daily basis in major cross-border operations.

MdME
1 practice area
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For almost two decades, MdME has been providing its clients with the highest level of legal services on their most important matters. Across our offices in Macau, Hong Kong and Lisbon, our team’s forward-thinking approach, combined with hands-on expertise and deep local knowledge, enables us to assist clients in achieving their desired outcomes in an increasingly complex world.

With a team of professionals qualified to practice across multiple jurisdictions and strategically positioned within key initiatives of the People’s Republic of China, including the Greater Bay Area, One Belt One Road and Chinese investment in Portuguese-speaking countries, the firm is well placed to support clients with both inbound and outbound investments. Our presence in Macau, Hong Kong and Lisbon, combined with the global reach of the Lex Mundi network, allows us to deliver seamless cross-border legal solutions tailored to the evolving needs of international businesses.

Manuela António - Lawyers and Notaries
1 practice area
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We are a full-service firm, having the resources to respond in all major areas of practice, which allows us to render services to our clients that go beyond the legal assistance per se.

The firm has a broad and varied legal practice with an excellent reputation for offering a full range of high-quality legal services.

CFB Lawyers
1 practice area
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CFB is a full-service law firm founded by lawyers with decades of experience under their belt, acquired in three different continents.

Recognized in the market for its trustworthiness and problem-solving approach, CFB’s team has extensive experience within the financial, retail, hospitality, and gaming industries, being accustomed to dealing with demanding clients from a wide range of industries and backgrounds. Our clients look for solid technical solutions, with high quality standards.

CFB strives to provide straightforward and cost-effective answers, fitting each specific clients’ needs, without compromising quality.

 

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Deal Highlights
12 results12 results
Deal Name Deal Date Firm Name Jurisdiction Deal Type Lawyer Names Client Names Client Role
Kirin Brewery - Restructuring
2021-01-01
Lektou
Macau SAR
Restructuring
Pedro Cortés
Kirin Brewery
Shareholder
Burgo Sublime - Financing
2020-05-01
Lektou
Macau SAR
Financing
Frederico Rato, Pedro Cortés
Burgo Sublime
Borrower
Magnetic Pocket - Project development
2020-05-01
Lektou
Macau SAR
Project development
Frederico Rato, Pedro Cortés
Magnetic Pocket
Project developer
The Bank of East Asia Limited - Financing
2021-02-02
Manuela António - Lawyers and Notaries
Macau SAR
Financing
Hugo Ribeiro Couto
The Bank of East Asia Limited
Lender
Credit Suisse Singapore Branch - Financing
2020-07-31
Manuela António - Lawyers and Notaries
Macau SAR
Financing
Manuela António
Credit Suisse Singapore Branch
Lender
Avolon - Asset finance
2020-09-17
Manuela António - Lawyers and Notaries
Macau SAR
Asset finance
Hugo Maia Bandeira
Avolon
Lessor
Sumitomo Mitsui Banking Corporation Hong Kong Office, Sunray Macao Commercial Offshore - Financing
2020-12-09
Manuela António - Lawyers and Notaries
Macau SAR
Financing
Hugo Ribeiro Couto
Sumitomo Mitsui Banking Corporation Hong Kong Office, Sunray Macao Commercial Offshore
Lender
Taipei Fubon Commercial Bank - Financing
2020-12-09
Manuela António - Lawyers and Notaries
Macau SAR
Financing
Hugo Ribeiro Couto
Taipei Fubon Commercial Bank
Lender
UBS Securities LLC, Stamford Branch, Australia Branch - Financing
2020-09-01
Manuela António - Lawyers and Notaries
Macau SAR
Financing
Manuela António
UBS Securities LLC, Stamford Branch, Australia Branch
Lender
Studio City Co Ltd - Bond issue
2022-02-16
CFB Lawyers
Macau SAR
Bond issue
Hugo Maia Bandeira
Studio City Co Ltd
Issuer
Industrial and Commercial Bank of China Ltd     Industrial and Commercial Bank of China Ltd Singapore Branch    Industrial and Commercial Bank of China (Asia) Ltd    Industrial and Commercial Bank of China (Europe) SA  ICBC International Securities Ltd    Agricultural Bank of China Ltd Macao Branch     Banco Nacional Ultramarino SA    Bank of China Ltd Macau Branch    Bank of Communications Co Ltd Macau Branch    China Construction Bank Corp Macau Branch    China Guangfa Bank Co Ltd Macau Branch    Luso International Banking Ltd    The Macau Chinese Bank Ltd    (the “Joint Lead Managers” and “Joint Bookrunners”)    Luso International Banking Ltd    (the “Trustee”)    Bank of China Ltd Macau Branch    (the “Principal Paying Agent” the “Transfer Agent” the “MOX Lodging Agent” and the “Registrar”) - Bond issue
2021-10-28
CFB Lawyers
Macau SAR
Bond issue
Bernardete Fan
Industrial and Commercial Bank of China Ltd     Industrial and Commercial Bank of China Ltd Singapore Branch    Industrial and Commercial Bank of China (Asia) Ltd    Industrial and Commercial Bank of China (Europe) SA  ICBC International Securities Ltd    Agricultural Bank of China Ltd Macao Branch     Banco Nacional Ultramarino SA    Bank of China Ltd Macau Branch    Bank of Communications Co Ltd Macau Branch    China Construction Bank Corp Macau Branch    China Guangfa Bank Co Ltd Macau Branch    Luso International Banking Ltd    The Macau Chinese Bank Ltd    (the “Joint Lead Managers” and “Joint Bookrunners”)    Luso International Banking Ltd    (the “Trustee”)    Bank of China Ltd Macau Branch    (the “Principal Paying Agent” the “Transfer Agent” the “MOX Lodging Agent” and the “Registrar”)
Underwriter
National United Resources Holdings Ltd - Secondary share offering
2022-02-24
Manuela António - Lawyers and Notaries
Macau SAR
Secondary share offering
Manuela António
National United Resources Holdings Ltd
Issuer
By Firm
3 results3 results
Firm Name Jurisdiction Total Deals Deals (Last 12 Months)
CFB Lawyers
Macau SAR
2
0
Lektou
Macau SAR
3
0
Manuela António - Lawyers and Notaries
Macau SAR
7
0
The alliance strengthens both firms’ platform for cross-border work spanning Lusophone markets and the China-Africa corridor
Financial services a key draw for law firms looking to expand in the Greater Bay Area
IFLR is delighted to reveal the winning deals, teams, law firms and individuals for the Asia-Pacific Awards 2023
The Asia-Pacific awards research cycle has now begun – don’t miss out on this opportunity to get recognised
IFLR is delighted to announce all the winning deals, teams, firms and individuals of the 2022 Asia-Pacific awards.
All the shortlisted deals, teams and firms of the year - winners will be announced on March 17
Register now to celebrate the region’s most innovative cross-border deals, teams and firms, as chosen by our panel
In the midst of a global economic crisis of proportions unseen for generations, the financial woes of many businesses have become such that today, the pursuit of survival has taken the place of the pursuit of profit. Come the time for yearly accounting, companies based in the Macau SAR may be faced with a situation where their net value has decreased to such a level that the law mandates immediate action. Such is the case of Article 206 of the Commercial Code, the terms and provisions of which stipulate that, should the board of directors verify through the annual accounts that the company’s net value is lower than half of its share capital, it is compelled under the penalty of criminal law to submit for approval by the shareholders a resolution which embraces one of the three solutions set forth by the legislator.
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    Frederico Rato, Pedro Cortés and José Filipe Salreta of Rato Ling Vong Lei & Cortés Advogados in Macau look at the latest changes in Macau legislation