By Rhandell Rubio

Arendt & Medernach, the largest law firm in Luxembourg, continued its push for global expansion by recently establishing a new office in Hong Kong. This is the fifth office outside Luxembourg for the firm, having set up offices in Brussels, New York, London and Dubai previously.

Arendt & Medernach services a number of clients in the financial sector, including public and private investment funds, as well as Asia-based banks. The opening of the Hong Kong office enables it to better serve its clients and law firms with which it works closely in Asia, and simultaneously follow its Luxembourg clients who have operations in the region.

The firm is confident that by being locally present, it will be able to offer advice locally to investors interested in the Luxembourg financial marketplace and their other areas of expertise. The services offered by the new Hong Kong office will focus primarily on public and private funds and direct investments.

“Hong Kong, due to its unique position as one of the leading global financial centres, is a centre that cannot be ignored in the global strategy of financial institutions and large and mid-sized companies of the industrials sector,” says Guy Harles, a founding partner of Arendt & Medernach. “Our clients in the region seek information on the Luxembourg financial centre which helps them assist their contacts in the Greater China region.”

Within the European Union, Luxembourg ranks second to London in terms of concentration of financial and banking activity. Luxembourg’s flexible banking and investment fund legislation, together with its extensive network of double tax treaties have enabled it to emerge as a leading centre for international lending, investment funds and private banking.

Claude Niedner, a partner in the firm’s regulated investment funds practice, adds: “As outward investment funds from Asia are likely to increase fairly dramatically over the short-term, and given the changes and reforms that are being implemented in multiple jurisdictions, the need for up-to-date advice and expertise is likely to grow. We see this strategic move of ours as timely.”