Legal Services Payment Structure
Understanding the payment structure for legal services is critical for both clients and law firms. We offer transparent payment options tailored to our clients’ needs. Reasonableness requirements apply to all methods of determining the cost of legal services, including hourly billing, fixed fees, and advance/deposit payment systems. Our firm ensures that the cost of legal services meets the reasonableness standard, applies reasonable rates, and takes into account the appropriate time to provide high-quality legal services.
We are based on extensive experience in numerous legal projects, a feature that enables clients to request services on demand and clearly understand the cost calculation. Our main goal when determining the cost of legal services is to establish a payment structure that is consistent with the client's interests from the beginning of the project, preventing misunderstandings and misinterpretations.
The payment structure and amount for the services we provide will depend on the type and scope of work, the time to completion, the frequency of work, and the complexity of the legal matter at hand. Such payment arrangements will be agreed upon in advance with each client and clearly outlined in a contract signed by our firm and the client's representative.
Three payment options are offered for legal services: fixed legal fees, hourly legal fees, and advance payments. During the initial free consultation, all proposed payment structures will be discussed in depth, considering their alignment with the client's corporate legal needs. Once mutually agreed upon and confirmed, the selected payment structure will be detailed in the contract.
When establishing payment structures, our firm's primary goal is to maintain transparency with our clients regarding payment for legal services. This approach is designed to prevent any misunderstandings or misinterpretations, fostering an open relationship based on trust with all of our clients.
Three payment options our company offers
Fixed legal fees
A fixed fee can be provided for the following services provided by our company:
Setting up companies in different jurisdictions
Agent Representative
Prepare a set of company documents
Monthly accounting support for companies
Filing annual reports for companies
Licensed services including crypto, EMI/PSP, foreign exchange and gambling
All specified fixed legal and accounting fees must be paid before work begins. The primary advantage of a fixed fee is its immutability. Choosing this fee structure, you gain the advantage of clarity – when you request services, you will know exactly what is included in the agreed amount, the expected completion time, and our firm’s commitment to you.
Legal fees by hour
Compensation for legal services rendered through an hourly fee is a common approach. In this approach, the lawyer carefully records the time invested in investigating the client's request and providing the legal services. Given the unique nature of legal projects, their costs depend on the time used to execute them. Determining the implementation costs usually requires a thorough investigation and review of the project. Our firm has set an hourly rate of €150 + VAT for participation in this type of project. Invoices for this type of legal services will be jointly agreed with the client and will be issued gradually in order to develop a project budget.
Deposit payment system for legal services
Once the contract has been agreed upon and signed by both parties, the client will be required to pay a down payment/deposit for the legal services to our bank account. The deposited amount will be held in an escrow account. As we fulfill legal orders on behalf of our clients, funds may be withdrawn from this account gradually as payment for completed work, depending on the time taken for the project. If there are any unused funds in the escrow account after completing a client's order, they may be used to purchase additional services from us.
Our commitment remains to provide high-quality legal services in all areas. We maintain an open dialogue, are flexible in determining the cost of our services, and are ready to discuss payment terms based on your individual circumstances.