Private Financial Services has been providing legal opinions on different cases for many years. We have experienced lawyers in different jurisdictions, who will prepare legal opinion based on your requirements within short period of time. In this article we’ll review in detail what does legal opinion mean.
Typically, legal opinion is a kind of formal advice that depends on the knowledge of experienced lawyers. A legal opinion is a document prepared by lawyers when a client requests. The lawyers try to depict the client’s knowledge about legal provisions that are in place in terms of the real circumstances of a specific case. Besides, the client for whom the legal document was issued as a Legal Opinion has every right to depend on the recommendation described within the document.
Although the law doesn’t have a universal or single definition of the concept, common law countries that practice legal opinions have clear standards and long tradition. As such, opinion laws were developed and utilized for Legal Opinions that are qualified for a variety of legal disputes and situations. Therefore, a Legal Opinion is a written document duly executed by a professional lawyer concerning a certain legal matter.
Usually, a LO is developed and renewed before the transaction and implementation of a ontract to make sure that the legal document is prepared and adheres to the practice of law and prevailing laws. Legal opinions are helpful in litigation as well. They are used for preparing a lawsuit that is more competent in court. Also, they are used to prepare a stable behavior strategy that represents legal analysis for a piece of evidence or additional argument.
The lawyers are the ones responsible for when it comes to preparing legal opinions. They prepare the document through factual and legal research, analyze them, and end with proper verification.
Legal Opinion: Why do you need them?
Very often banks require LO from high-risk business to open an account for them, or when it comes to financial transactions in banks, it is important to ensure that the activities carried out are completely legal and comply with the regulation of the bank’s country of incorporation, the client company’s country of registration, or the payer’s country. Also, LO might be of the highest importance for those who’d like to accept card payments in a high-risk industry. The legal document consists of assumptions based on the client’s activities as a merchant agent or processing agent. If anything happens that doesn’t satisfy the MasterCard or Visa or merchant agent or processing agent, the account should be closed, but the bank will be on the safe side with LO.
Sometimes legal opinions are a necessity in a certain type of commercial transactions because they ensure that the party is reliable, and they carry out activities according to the current law. Additionally, it is crucial to analyze purchase and sale agreements while eliminating any chances of risks associated with sellers and buyers.
If you have any concerns regarding tax matters, we’d also advice to obtain a legal opinion from a tax lawyer. Legal opinion comes with information that discusses the intensity of tax risk for a specific transaction. Analyzing tax law could be used as a third-party opinion as well.
Legal opinions are widely used by crypto projects since legal framework is not that clear and transparent and involves many pitfalls.
LO-s are widely used by financial companies. A LO for an investment company may contain information that shows whether the company that applies for licenses can carry out activities depending on the legal documentation submitted by the applicant company to the regulator. Moreover, lawyers have to understand the financial mode, business plan, AML policies, agreements that reflect personal data protection, and other related documents.
Legal Opinion: Legal issues that it covers
- Client’s adherence to law alongside other obligations
- Protecting client’s interests
- Compliance with the external and internal approval procedures while obtaining requisite permits from both the client and their partner
- Position of the terms specified in the transaction, ex. settlement procedure
- Analyzing the obligations and rights of both parties
- Requirement of state registration for property and other kinds of assets
- Availability of important measures that protect the violated rights and other issues depending on specific conditions
Legal Opinion: Structure
Below listed are the parts that Legal Opinion consists of:
The background represents information about a circumstance for a particular matter. It includes detailed information on the terms and subject of an agreement, its parties, and other important provisions of the legal document that defines the transaction.
Analysis of the regulatory legal acts and constituent documents
When writing a LO, the lawyer has to rely on regulations and laws that govern relations surrounding the problem, statutory legal acts, comparison of legal and factual grounds, and the real circumstance of the specific case. When it comes to analyzing and proving his position, the expert will review and consider the current judicial precedents and practices made by courts. That way, the specialists can use them to analyze the circumstance of the situation.
Assumption and conclusion
Based on the documents of LO, analyzing the results from case materials, and thorough research, the specialist will set brief conclusions. Also, it contains useful recommendations to resolve the client’s issue.
We provide legal opinions in more than 50 countries. The most popular jurisdictions are the following: Estonia, Lithuania, Poland, Georgia, United Kingdom, Malta, Cyprus, Hong Kong, Saint Vincent and the Grenadines, Mauritius, Bulgaria, Seychelles, Vanuatu, Dominica, Belize, BVI.
Legal Opinion: Our advantages
We aim to provide premium legal services while maintaining a positive reputation across the world.
Private Financial Services provides legal services with a high degree of professionalism and strict confidentiality. To meet the specific needs of our valued clients, we deal with several areas and prevailing laws. Besides, we specialize in the laws and regulations of other countries. As such, we involve professionals to take care of the projects. We can prepare foreign Legal Opinions that will fall in line with the strict guidelines of a specific country by considering its peculiarities and nuances of precedents.
We will give our best efforts to ensure that you stay right on legal matters and resolve issues at the arliest. You can order the Legal Opinion document online without paying a visit to our office.
Please contact our lawyers if you need any additional information on legal opinion or for quotation.