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Hong Kong

Hong Kong is a modern Chinese city with multi-Asian and Western elements. It is the biggest and most important financial centre in the region and is still the city of choice for most international businesses. It offers everything from the bustle and crowds of Central and Causeway Bay, to the mountains of Lantau and the beautiful bays of Sai Kung. Culturally and historically, it has a unique place in Asia.

Hong Kong is efficient and well run with a first-class transport system. Everything is within an easy distance and a commute to work is typically a five minute taxi ride. Hong Kong provides a rich diversity of professional and personal opportunities that few other places in the world can match.

Law Firms & In-house

Hong Kong is long established as the hub of Asian trade, finance and commerce. Its highly developed financial infrastructure and established common law legal system are powerful magnets for regional and international corporations. As a result, a large number of major international law firms from the UK, US and Australia have a presence in the city. Hong Kong is also the Asia Pacific headquarters for a large number of major investment banks and international corporations. Previous Asian transactional experience is a significant advantage in the current market.

Principal Areas of Demand

Private Practice
There has been a marked increase in the requirement for Chinese language skills in Hong Kong over the last year, but there are still opportunities for lawyers with outstanding academic backgrounds and experience gained from a top-tier-firm. There is still demand for high quality lawyers in the following areas:

• Restructuring/Insolvency (contentious or non-contentious)
• Corporate
• Banking & Finance
• Project Finance

In-House
Hong Kong is the Asian headquarters for a large number of major investment banks and international corporations. Lawyers within these organisations tend to have regionally focused responsibility, resulting in a diverse and interesting workload. Increasingly, the PRC is becoming a focus for companies and Mandarin language skills are in demand. Interest is high for lawyers with the following experience:

• General Commercial
• Derivatives & Structured Products
• Compliance - both investment banking and funds related

Remuneration & Benefits

Salaries tend to be generous in Hong Kong, affording lawyers a good level of income and a comfortable lifestyle. However, the ex-pat packages once offered to lawyers relocating to Hong Kong are no longer available in today’s market. Overseas lawyers are offered all-inclusive salary packages which don’t contain a separate housing allowance, but are likely to include a discretionary bonus, full life assurance and private health cover. Tax levels are very low and are capped at 16%.

Outside the Office

With its renowned work-hard, play-hard spirit, the city has a phenomenal energy. You may be required to work late, but there will always be plenty to do once you leave the office. Bars are busy seven days a week and stay open very late. The choice and quality of restaurants, cafés, shops and clubs (which are open all hours) is equally impressive.

The image of this city as a pulsing, urban jungle seems only too real, but there is more to Hong Kong than the night life. There are beautiful beaches at Sai Kung and fantastic hiking in the new territories. Stanley and Repulse Bay provide a haven from the bustle of Central and there are clubs and leisure facilities that provide opportunities for participation in a wide range of sports and activities. You are also well placed to travel throughout Asia and Australasia and to explore the different cultures on your doorstep.

For further information on the legal market and job opportunities in Hong Kong please contact your nearest Taylor Root office:

London:
Helen Howard E: helenhoward@taylorroot.com T: +44 (0)20 7415 2828

Dubai:
Shane Morton E: shanemorton@taylorroot.com T: +9714 448 7770

Hong Kong: 
Mark Coates E: markcoates@taylorroot.com.hk T: +852 2973 6333

Sydney:
Karlie Connellan E: karlieconnellan@taylorroot.com.au T: +61 (0)2 9236 9000

Melbourne:
Tim Fogarty E: timfogarty@taylorroot.com.au T: +61 (0)3 8610 8400