A wholly Chinese-owned law firm was recently set up in London, making it the first of its kind in the UK, and its special structure could pave a new way for Chinese lawyers to go abroad,
the founder said.
YangTze Law has been established as an Alternative Business Structure (ABS). “The ABS is provided in a regulation passed in 2007, which aimed to modernize the system of legal profession in the UK,” YangTze Law Executive Director Steve Ng told China Business Law Journal.
“The structure allows non-UK residents, even lawyers with no UK qualifications, to open a law firm in the mode of a limited liability company,” he continued. “After your application is approved by the Solicitors Regulatory Authority, the structure can operate in the UK and provide legal services on UK laws.”
