Moscow, 14 June 2017: Boase Cohen & Collins is ideally placed to assist companies and individuals taking advantage of the rapidly growing business ties between Russia and Hong Kong, says Senior Partner Colin Cohen.
BC&C is working closely with a leading Moscow law firm – Sameta Tax & Legal Consulting – to offer clients an array of enhanced legal services straddling the two jurisdictions.
As part of this burgeoning relationship, Mr Cohen yesterday gave a presentation to Sameta lawyers at their Moscow offices outlining the myriad business opportunities in the legal sector.
“Since last year, Russian companies have been eligible to list on the Hong Kong Stock Exchange,” said Mr Cohen. “Also, an agreement between Russia and Hong Kong to avoid double taxation has come into effect this year, setting out clearly the allocation of taxing rights and helping investors better assess their potential tax liabilities from cross-border economic activities.
“These are just two examples of closer co-operation between the Russian and Hong Kong authorities. We know also that the Russia-led Eurasian Economic Union is looking to sign a free trade agreement with Hong Kong while the number of Russian expatriates in our city is growing steadily. We have seen, as well, that Hong Kong companies are prepared to make significant investments in Russian enterprises.
“Taking all this into account, there is a clear need for advanced legal knowledge and co-operation between the two jurisdictions so our excellent working relationship with Sameta means we are in prime position to offer such services to existing and new clients.”
Mr Cohen’s presentation also highlighted Russia’s growing trade and business ties with China and the opportunities that are being afforded by the mainland’s ambitious Belt and Road global economic development strategy.
“In the first quarter of this year, trade between Russia and China grew by nearly a third from US$14 billion to US$18 billion compared to the first three months of 2016. Both countries are predicting 2017 will be a breakthrough year for trade between them,” added Mr Cohen.
“Further, Russian President Vladimir Putin was the most high-profile overseas leader to attend the first Belt and Road Forum in Beijing last month and was clear in his support for the project.”
Boase Cohen & Collins and Sameta Tax & Legal Consulting are both members of Ally Law, the global legal services organisation comprising more than 60 firms in over 40 jurisdictions.
“Referral business between Ally Law firms is improving and the most effective way to speed up this process is to conduct face-to-face meetings. Not only was it an absolute pleasure to visit Sameta’s offices, it was also a hugely productive exercise,” concluded Mr Cohen.