Private wealth: PRC firms in China

Zhong Lun Law Firm

Zhong Lun Law Firm’s private wealth team provides advice to ultra-high net worth individuals on tax, trusts, family, and charity law matters. The practice is adept at acting on cross-border matters; it frequently receives instructions from foreign citizens resident in China, and handles international estate and tax planning as well as offshore trust issues. Peter Ni is experienced in both Chinese and US tax law, with Mark Gao also active in this area. Mingjun Jia focuses on family law matters, such as prenuptial agreements, in addition to advising on wealth and succession planning. Hengka Ji is also highly praised by clients and has experience in cross-border tax matters.

Practice head(s):

Yunxiang Guan; Fei Wang; Weizhong Wang; Tiejun Hu; Hong Li; Zhe Yu; Jiong Zhang; Jing Lu; Hui Zhi; Jianhui Tang; Mingjun Jia

Other key lawyers:

Lefan Gong; Hengka Ji

Testimonials

‘The team’s private client services provide clients with one-stop solutions. Their capabilities cover everything from business restructuring and market listing arrangements to private wealth management, wealth planning and wealth inheritance. Their professionalism and expertise enable them to adapt to trends in the wider environment and provide solutions that are very much in tune with the key issues their client base cares about.’

‘Hengka Ji’s professional expertise always inspires trust among clients and business partners, while his fluency in both Chinese and English is an advantage that fits the requirements of clients in the Greater China region, as well as meeting the needs of other client groups in other regions; this effective communication has promoted a number of excellent collaborative relationships. Hengka Ji’s unique advantage is that he is willing to listen carefully to the client’s needs, which is a characteristic that many lawyers lack. Because he listens, he is able to identify the key issues that are most important to the client, as well as being able to ensure that their cases proceed very smoothly. The most commendable thing about Hengka Ji is that he is always able to think about issues from the client’s perspective and efficiently respond to client needs in a way that earns praise from both clients and business partners.’

‘The firm has a strong and experienced team that provides relevant, superior advice and solutions to clients. They will go the extra mile and resolve difficult situations that clients may face.’

‘Hengka Ji is very experienced in his work, very familiar with the industry and most importantly he will be the one normally to come out with the best solutions for difficult cases. I believe he is the legal advisor that most clients would like to call for advice whenever there is a requirement.’

‘Hengka Ji’s team has a unique, innovative, integrated international approach and very professional service capabilities with regard to fields including capital markets in China and overseas, international tax law, trusts, philanthropy and charities. Based on this professionalism in the aforementioned key fields, the team’s research abilities, creativity, ability to bring together different skills in a team, and their service capabilities are all very unusual in the private wealth planning field.’

‘Zhong Lun Law Firm team is particularly focused on international tax affairs, merger and acquisition deal taxes, and tax dispute resolution, and they provide consulting and opinions on a variety of today’s cutting-edge tax issues. They are good at helping entrepreneurs, investors and senior managers to select the best cross-border deal structures and equity incentive solutions from a tax perspective. They also provide advice on global asset protection plans for ultra-high-net-worth individuals, top international private bands and family offices, specifically with advice on offshore and Chinese family trusts, charitable trusts, CRS, international citizenship and residency planning, inheritance and tax affairs.’

‘Hengka Ji is one of the leading lawyers in this field and is widely acclaimed by his clients.’

‘The composition of the team is very well thought out, they offer a wide range of options in terms of fees and billing methods, and they are able to cater to different client needs.’

‘As Lefan Gong has many years’ experience in China and abroad, he understands both practical operations outside China and the actual needs and features of clients within China, enabling him to formulate tailor-made solutions that are a better fit for the individual; he also pays a great deal of attention to the feelings of the client in terms of communications, which is a very useful attribute.’

AllBright Law Offices

With offices in Shanghai and Shenzhen, AllBright Law Offices is highly active in the private wealth space. The practice frequently acts for trust companies, advising them on the establishment of family trusts. It also advises individuals on wealth planning, including the wealth aspects of divorces and inheritance planning. It is adept at advising on estates with cross-border aspects, such as acting for clients who live overseas but own assets in China. Xianming Li leads the team, which also includes Xuanling Guo and Han Zhang. Guo focuses on acting for individuals, providing advice on wealth planning, while Zhang acts for institutional clients involved in family trusts.

Practice head(s):

Xianming Li

Other key lawyers:

Xuanling Guo; Han Zhang ; Yongsheng Zhou

Testimonials

‘Zhang Han and Yongsheng Zhou provide a service that is very professional and meticulous, with a high level of efficiency.’

‘The team has been extensively involved in trust services for many years and has an excellent understanding of the characteristics of the trust business, which has helped the team to achieve impressive success in the family trust service field. They are able to provide expert legal opinions on areas including family trust tax planning and corporate governance.’

‘Zhang Han has a very hands-on approach and a wealth of experience in trust affairs enables him to quickly analyse and clarify complex personal wealth structures and effectively identify potential management risks for clients.’

Key clients

Kunlun Trust Co., Ltd.

Bridge Trust Co., Ltd.

Qianhai Life Insurance Co., Ltd.

China Minsheng Banking Corporation Shenzhen Branch

Work highlights

  • Advised Kunlun Trust Co., Ltd. on the establishment of a family trust.
  • Advising the clients of Qianhai Life Insurance Co., Ltd. on wealth inheritance issues.

Commerce & Finance Law Offices

Under the leadership of Kun Liu, Commerce & Finance Law Offices provides comprehensive advice on private wealth issues. The practice specialises in advising high-net-worth individuals, particularly owners of family businesses, on succession planning and the establishment of trusts. The team is also experienced at advising clients with overseas assets.

Practice head(s):

Kun Liu

Other key lawyers:

Miaomiao Chen

Testimonials

‘Kun Liu’s team is the leading team in the private wealth management sector and is particularly adept at overseas family trust-related legal services. They are able to properly take into account the critical importance of company owners to family inheritance and company development, and provide solutions that have great practical significance. They have excellent and reliable professional capabilities, as well as a very good understanding of business. Their work attitude is also realistic, dependable and detail-oriented, with a good sense of the importance of time, making them good at providing creative solutions to complex legal problems.’

‘Kun Liu is the most outstanding lawyer in the private wealth management field that we have worked with. Kun Liu has a wealth of practical experience in the overseas family trust sector, enabling them to genuinely understand client needs and quickly identify legal risks, and thereby propose targeted solutions. After numerous comparisons with other lawyers, we found that Kun Liu’s legal advice is always more focused, specific and consistent with client requirements, with the result that she has earned the admiration of business owners.’

‘The team has impressive abilities and an excellent level of professional expertise and practical legal experience in establishing overseas family trusts. Their client services offer responsiveness, sensitivity and good communication, as well as a good client experience. The team is able to provide constructive legal advice. They have a very broad business perspective and deep understanding of business issues, giving them a strong awareness of the importance of family inheritance needs and company business development to overseas trusts. They also have a thorough understanding of industry development trends and provide highly effective advice for business development. The way they work is very conscientious and responsible with strong attention to detail, enabling them to solve complex legal problems with creative solutions.’

‘Kun Liu has a very high standard of professional expertise, a very good attitude to service, and a high level of work efficiency. Kun Liu has a wealth of practical experience and outstanding professional capabilities in the overseas family trust sector, enabling her to quickly and accurately identify legal risks and provide targeted solutions. Kun Liu is always able to analyse legal issues from the perspective of family inheritance, market listing compliance requirements and company business development. She has a genuine understanding of what clients actually need and patiently explains the details of solutions, as well as ensuring that sufficient personnel are allocated and work progresses in an efficient manner.’

‘Commerce & Finance Law Offices is one of the leading Chinese Law Firm that has great knowledge and ample experience in providing offshore trust advisory services in particular IPO and ESOP trust structuring. I have worked with many PRC professional intermediaries in providing Private Wealth services, I would consider them to be the best and the only PRC professional that can help to set up an offshore trust to hold A shares.’

‘Kun Liu, who leads a strong team of Private Wealth / Trust services, is one of the limited number of PRC professionals with a high-level knowledge of trusts and offshore restructuring. She has a good understanding of different trust jurisdictions, Bank Trustees Vs Independent Trustees and how best to choose the right trust company for her clients. Lawyer Chen Miaomiao works with lawyer Kun Liu to expand the Private Wealth services and she too is one of the top PRC professionals in private wealth and trust industry.’

‘The team has a very high level of professional expertise, as well as extensive practical experience of wealth management and a unique understanding of business. During the course of providing services, the team demonstrated an excellent attitude and a sharp awareness of business issues, enabling them to proactively identify problems, consider our company’s actual situation, and give constructive opinions and creative solutions. During the process of delivering services, the team showed great attention to detail and improved our implementation efficiency in terms of issues from the allocation of personnel to the optimisation of solutions, thereby saving our company a lot of time and money.’

‘Kun Liu is professional, conscientious, and has a very strong sense of responsibility. Kun Liu carefully considered the actual position of the company, thoroughly communicated the details of the plans, formulated flexible solutions, and provided the company with constructive advice for the development of our business. Her team is very sensibly structured and the team members exhibit very clear thinking, an impressive service attitude, and great attention to detail.’

Dentons

Dentons acts for both institutional clients and high-net-worth individuals in private wealth matters. The team has a particular emphasis on cross-jurisdictional matters, such as advising Chinese nationals resident in the United States on their affairs. The team also draws on its corporate expertise to advise business owners on restructuring their businesses for the purposes of wealth management and inheritance planning. The formation of offshore and charitable trusts is another area of focus for the team. Jun Zhang and Fang Wang are the key figures in the team; Zhang is noted for his deep experience in family trusts, while Wang draws on her corporate law expertise to advise high-net-worth clients.

Practice head(s):

Jie Wang; Wei Zhang; Jing Wang; Xin Wang; Haifeng Lu; Xia Chen; Xingliang Jin; Zhewei Yang; Liang Zhou; Yueli Zhou; Jian Geng; Jingjing Xia; Haisheng Wei

Other key lawyers:

Jun Zhang; Wang Fang; Xiaochu Zhang; Yifan Lai; Lingli Xie

Testimonials

‘Dentons is the leading firm in China in terms of legal services for family wealth management, both in terms of practical operations and research. For example, Jun Zhang uses a comprehensive package of solutions to meet the needs of clients in the family wealth management sector, not only resolving a single issue but systematically solving problems to achieve the protection, management and inheritance of family wealth.’

‘Dentons is able to make extensive use of its global presence and outstanding teams outside China when implementing solutions, enabling it to arrange overseas lawyers and coordinate the provision of cross-border legal services. Compared to other organisations, Dentons offers very efficient overseas services with a high level of teamwork and collaboration.’

‘We work with Jun Zhang and Xiaochu Zhang. Mr Zhang is able to provide a comprehensive package of family wealth management solutions covering everything from family members and family businesses to the family as a whole, including wills, family trusts, family offices and family regulations. Mr Zhang has a wealth of practical experience in all these areas and is able to implement solutions across the group. Mr Zhang also has a very forward-looking perspective on family wealth management and is always able to accurately judge development trends in the industry, even to the extent of leading the development of the industry.’

‘The diverse backgrounds of the team members helped our business. The team was able to locally implement a full-process service based on Dentons’ global network.’

‘We have rarely come across partners in Chinese legal circles with their level of professional expertise and experience in the specific area of families. The team has many years of experience of dealing with complex family and family business issues, and they have the sufficiently deep capabilities, insights and long-term perspectives for the relevant issues that affect our specific clients, as well as the ability to provide fundamental solutions for our client’s basic needs, identify things that the client really wants but has not expressed, and the ability to apply these insights and specialist tools inside and outside China to deal with issues appropriately. The team led by Jun Zhang, ably assisted by Lingli Xie, along with a core team made up of the lawyers Xiaochu Zhang and Yifan Lai, has the ability to evaluate the client’s current situation, gain insight into their needs, formulate solutions, accompany clients during negotiations, implement solutions and report, thereby providing reliable safeguards throughout the entire process. Their quality of service met our and our clients’ highest standards and expectations for legal services.’

‘I have worked with Jun Zhang’s team at Dentons, as we jointly provided services to immigration clients. The thing that sets Mr Zhang’s team apart is their mastery of a whole package of services, enabling them to provide clients with solutions for a very wide range of needs.’

‘Jun Zhang is very good at communicating with family clients and this is a skill that other lawyers I have encountered do not possess. He is always able to precisely identify what the client really wants and work out what they need, so he is able to quickly build a relationship of trust with family clients. Xiaochu Zhang in Mr Zhang’s team is also excellent, and has provided expert advice and opinions on many details of implementation.’

‘Jun Zhang and Xiaochu Zhang’s teams at Dentons have provided many of our Chinese clients with family trust consulting services. Many of our clients have started to get involved with family trusts in recent years and would like to make trust arrangements in China, so they seek our advice. We recommend seeking the help of Mr Zhang’s team, as he has a very comprehensive understanding of trusts and is able to answer client questions very well.’

‘Jun Zhang and Xiaochu Zhang’s teams at Dentons are very professional and very patient with clients. They are also able to explain complex statutes in layman’s terms so that clients are able to understand.’

Key clients

Noah Holdings Ltd, Noah Family Service Canter, Ark Trust

HSBC Bank (Singapore)

Henry Group

Guangdong Finance Trust Company Limited

CITIC Bank Co., Ltd.

CITIC Trust Co., Ltd.

Work highlights

  • Provided advice to the clients of Noah Holdings on private wealth matters, such as the establishment of family trusts and divorces.
  • Advising clients of Aladdin Family Office Co. on private wealth issues such as inheritance planning.
  • Advised HSBC Bank (Singapore) on wealth management issues involving its clients based in Mainland China.

Han Kun Law Offices

Han Kun Law Offices advises on private wealth matters, including the establishment and restructuring of family trusts as well as issues arising from divorces. The team has a particular specialism in advising company founders on wealth planning related to initial public offerings of their companies, drawing on the wider firm’s expertise in corporate transactions. Many of these founders are involved in growing sectors such as technology. Han Chen leads the practice.

Practice head(s):

Han Chen

Testimonials

‘The law firm’s team has a good understanding of the cross-border legal needs of mainland Chinese clients, and can provide professional advice on overseas assets, overseas company listings, and overseas trust businesses based on the needs of mainland clients.’

‘The services provided are relatively comprehensive and can provide customers with a full range of services from company listings, mergers and acquisitions to family property arrangements, trust establishments, inheritance structures, etc., and can make comprehensive arrangements from the perspective of customers to maximize customer benefits. They help customers’ family, business and other aspects of arrangements work together. At the same time, the suggestions to customers are very pertinent and they are recognized by customers. Clients have very high recognition of Han Chen and his team.’

King & Wood Mallesons

King & Wood Mallesons provides advice to clients on wealth planning and the restructuring of assets, including handling the establishment of overseas trusts and assisting founders with planning related to IPOs. It also acts for the actual controllers of companies in disputes over the division of assets arising from divorce; Peng Wu and Xin Chen lead on this work. Hui Wang leads the overall team, leveraging his experience in corporate and M&A work to handle wealth planning for individuals.

Practice head(s):

Hui Wang

Other key lawyers:

Peng Wu; Xin Chen; Daisy Duan

Testimonials

‘The team of lawyers is very well chosen and they have outstanding communication and analytical skills. Their tax affairs team has a wealth of experience and knowledge.’

‘The have a detailed understanding of all aspects of the clients’ situation and they provide close communication and prompt responses for the client. They have outstanding analytical skills, a wealth of mature experience and knowledge of tax affairs, and an excellent ability to work together as a team. We recommend Daisy Duan.’

‘Professional, good understanding of business, and strong teamwork skills.’

‘Smooth communicators and efficient.’

Llinks Law Offices

Llinks Law Offices’ private wealth team was significantly strengthened in March 2021 when Steven Wang joined the practice from King & Wood Mallesons. Wang, a specialist in private wealth work, advises individuals on wealth planning, including the creation of offshore holding structures for assets. He also provides assistance to the founders of companies on succession planning.

Practice head(s):

Charles Qin; Steven (Xiaogang) Wang

Testimonials

‘The team led by Steven Wang (Xiaogang Wang) is really expert in the cross-border private wealth management sector and always provides suitable customised solutions, as well as being able to mobilise partnerships with a large number of cross-border specialist organisations that they are allied with.Their solutions are very rigorously implemented and they also respond very quickly and have strong executive abilities. The team is very smart and capable.’

Xiaogang Wang’s team of lawyers is very professional in the field of cross-border private wealth. It always has suitable personalized solutions and can also mobilize the alliance and cooperation of many cross-border professional institutions. The team is very rigorous in implementation and has a fast response speed and strong execution. Lean staff, cost-effective.’

‘Xiaogang Wang is an expert with innovative ability, which is reflected in the fact that he can always find suitable solutions in the face of complex problems. He has a broad vision and also has a wide resource network around the world, which allows his plan to be innovative outside the traditional framework while being comprehensive and rigorous. ‘

‘Xiaogang (Steven)Wang has been to most offshore jurisdictions such as Cayman, BVI, Bahamas, Jersey, Guernsey, IoM etc. He has first-hand information on the latest development of offshore legislation, judicial procedure and local service providers, which is very helpful and adds value to the services he provides. He has the strength of finding the best wealth planning structure and service providers for clients. He also has the skill of assisting the clients with an international background, such as international assets allocation, to find a wealth planning solution to fit the situation.’

‘The team is highly professional and catering to the clients’ needs wherever necessary.’

‘The partner has tremendous expertise in this sector and strives to provide customized services based on clients’ individual scenarios.’

Yingke Law Firm

Yingke Law Firm provides advice to wealthy clients on a broad range of private wealth issues, including will and estate planning as well as the establishment of trusts. The practice is also frequently instructed to act for clients in divorce proceedings. Many of the team’s clients are business owners, and succession planning is a key area of focus. Wei Li is well-regarded for his expertise in family trusts, acting for high-net-worth individuals as well as trust companies. Xiaojing Cao advises clients on inheritance matters and the private wealth aspects of IPOs, and Xi Chen focuses on matters involving equities.

Practice head(s):

Wei Li

Other key lawyers:

Xiaojing Cao; Xi Chen

Testimonials

“Yingke Law Firm is a national large-scale comprehensive law firm with a large number of practicing lawyers and a fine division of labour. It is a large and professional law firm. As far as I know, Yingke Law Firm attaches great importance to private wealth legal services.  Xi Chen‘s team is well-known in Chengdu and Sichuan. Their business areas cover marriage and family, corporate equity, and taxation. The team of lawyers includes marriage and family lawyers, corporate lawyers, and tax lawyers. They can provide clients with landed private Wealth legal services.”

‘Xi Chen has devoted himself to research in the field of private wealth. His research on financial and legal tools such as personal insurance, family trusts, insurance trusts, family philanthropy, agreements and wills has been very grounded. I very much recognize the professional ability of Xi Chen!’

Key clients

China Construction Bank

CICC Wealth Management

China Resource Trust Investment Co., Ltd.

CITIC Prudential Life Insurance Co., Ltd.

China Energy Investment Group Co., Ltd.

Beijing Capital Group Co., Ltd.

China Cinda Asset Management Co., Ltd.

Xinjiang Guanghui Industry Investment Group Co., Ltd.

Inner Mongolia Yitai Real Estate Co., Ltd. and its Subsidiary Companies

Ordos Zhengdong Real Estate Development Co., Ltd. and its Subsidiary Companies

Huhhot Jinchuan Industrial Park Lantai Real Estate Development Co., Ltd.

National Accountant Assessment & Certification Centre of Ministry of Finance of the People’s Republic of China

Inner Mongolia Dakang Industrial Co., Ltd.

Ganzhou Zhongcheng Fruit Technology Development Co., Ltd.

Sinotrans Co., Ltd.

Work highlights

  • Advising the clients of China International Capital Co., Ltd. on issues such as family trust, wealth protection inheritance and tax planning.
  • Providing advice to China Resource Trust Co., Ltd. on family trusts.