International Law Articles
Articles written by attorneys and experts worldwide
discussing legal aspects related to International Law.
Entry Into the Spanish Market Through a Representative Office and the Implications for VAT and Corporate Tax
Our firm often deals with consultations on the effects of VAT for a foreign company developing an activity in Spain through a representative office. This is one of the easiest ways of entering into the Spanish market. In that scenario, the foreign company does not need to incorporate any companies in Spain nor create a branch.
In the context of a severe lack of liquidity in the Spanish public finances and with the purpose of increasing revenue for Corporate Tax collection, on August 19, 2011, the government urgently approved two significant changes for Corporate Tax in relation to offsetting the losses incurred by Spanish companies.
Double-Taxation Agreements in Spain Expands and the List of Countries Classified as Tax Havens is Shortened
To date there are 80 Double Taxation Agreements in force in Spain. For some years, the number of these agreements has been increasing significantly, and this makes international tax planning much easier. Among recent agreements, we can highlight: Among recent agreements, we can highlight the one existing with Panama, which came into force last July, which aims for this country to be removed from the list of countries regarded by Spanish tax authorities as tax havens.
Documentary credits law depends on the principle of autonomy or independence of the credit and the doctrine of strict compliance. The principle of autonomy protects the beneficiary (exporter) while the doctrine of strict compliance protects the issuing bank and the applicant (importer).
Considering some facts regarding disputes in the International Trade arena. Most of the time parties in international trade develop all kind of businesses without primary concern of a potential conflict between them.
It can be tricky to separate law from politics. Some politicians claim sincerely to believe that any Act passed by the Scottish Parliament which provided for the holding of a referendum on Scottish independence would be unlawful. Some lawyers claim to agree with them. In Scotland, we are living in exciting times and the politics may be genuinely intriguing but is the law not actually, and drily, beyond any real debate?
Overview of SEPA - The Single Euro Payments Area (SEPA) is an initiative of the European banking industry to simplify all electronic payments across the euro area by credit card, debit card, bank transfer or direct debit and to make them as easy as domestic payments within one country are now.
Legality and application of foreign judgments in Turkey depends on completion of several procedures which are called enforcement and recognition in Turkish Law. The provisions about recognition and enforcement take place in Law numbered 5718 dated 22.11.2007. Recognition is regulated under Art. 58 of Law numbered 5718.
On February 3, 2012, the International Court of Justice delivered its judgment in proceedings instituted by Germany against Italy for alleged violations of the jurisdictional immunities enjoyed by States under public international law. The Court held that Italy committed several breaches of Germany’s State immunity.
The dissolution of a marriage is a legal act that may not coincide with the emotional tearing asunder. Divorce is typically a painful process for all concerned. While it can take adults time to regain psychological equilibrium, there is also a threat to be involved in a court proceeding claiming for compensation for children’s maintenance and support. However different jurisdictions have different solutions to the issue. In this article we will describe the question under Dubai and UAE Law.
An overview on the foundation structure, with a particular focus on Private Interest Foundations in Panama. There are many countries offering legal entities known as offshore foundations. A private offshore foundation is a private entity usually set by an individual or married couple to provide for their children and their heirs.
EU leader Member States agreed on a new Treaty on Stability, Coordination and Convergence in the Economic and Monetary Union. The European Stability Mechanism (ESM) Treaty was signed by euro area Member States on 2 February 2012 and ratification is pending by the 17 euro area Member States. The target date of its operation is July 2012, a year earlier than expected.
To further encourage foreign investments into the PRC, the Ministry of Commerce published a Circular extending the cross border use of Renminbi (“RMB”) for direct investments into PRC (Shang Zi Han  Number 889) (the “Circular”) on 12 October 2011. Pursuant to the Circular, foreign investors are now allowed to use RMB proceeds legally obtained overseas for investments into PRC. The Circular is also applicable to Hong Kong, Macau and Taiwan investors.
European Commission Imposes Simplified Rules on Mergers and Divisions in Six Member States among Which Cyprus
Directive 2009/109/EC of the European Parliament and of the Council of 16 September 2009, regarding the simplification of the rules on merger and divisions, has not been yet implemented in some Member States of the EU. Cyprus is one of those Member States which failed to fulfill their obligations and commitments under the relevant Directive.
Under § 16 (1) of the German Law on inheritance and gift tax a tax free amount on the taxable acquisition of up to €500 000 (depending on the degree of kinship) is generally granted. However, this exemption is only €2 000 if both the decedent and the beneficiary are not resident in Germany. The new law now allows to avoid choose the application of the full tax free amount if the beneficiary taxes his worldwide acquisition.
EU labor law in offshore gas-drilling operations has been recently challenged in the case of Salemink v. Raad van bestuur van het Uitvoeringsinstituut werknemersverzekeringen, in the judgment of the Court’s Grand Chamber in January, 17, 2012.
The "Residential Visa" program will provide an opportunity for people worldwide to live in the United States by purchasing a half million dollars of Real Estate. Senators Charles Schumer and Mike Lee have recently proposed a program that would allow anyone in the world to obtain a United States visa by purchasing United States real estate.
International sale is when one of its elements it is connected with the legal order of another state or country. Uniform regulation of international sales is contained in the Vienna Convention (IC) of the United Nations on Contracts for the International Sale of Goods.
This article addresses the “paradox between peace and justice” that has emerged in discussions about the relationship between the International Criminal Court [ICC] and traditional forms of justice, namely the Acholi tradition of "Mato Oput" in Uganda. While its sees the merit of using a traditional system this article also points out the potential danger of using these mechanisms as an excuse to avoid moral and legal accountability.
Asset Protection Errors - How to Avoid the Most Common Errors in Setting Up an Asset Protection Strategy
Many of you probably receive unsolicited junk e-mails offering different Asset Protection schemes. With so many "tax haven" jurisdictions and unlicensed companies selling unproven and unreliable Asset Protection techniques and entities, which do you trust? There are many flawed asset protection packages offered on the internet now days.
On 4 February 2004, Ukraine ratified the Kyoto Protocol to the United Nations Framework Convention on Climate Change. This gave Ukraine an opportunity to engage in various types of projects purported at reduction of greenhouse gas emissions (the “GHG emissions”), in particular and especially joint implementation projects (the “JI projects”).
The “green” tariff for electricity (also known in many other jurisdictions as the “feed-in” tariff) was introduced in Ukraine relatively recently – only in 2008. Since that time it has evolved substantially and now appears to be quite mature in terms of the legislative base.
Regulation Proposal Regarding the Promotion of Activities for the Protection of EU Financial Interests
The protection of EU’s financial interests reflect s the basic targets and objectives of the European Union to suppress the illegal traffic of products as well as counterfeiting activities within EU Member States. Hercule I and II, as well as Pericles constitute the means and the tools with the aid of which, relevant European and national authorities will be empowered to take all the measures needed and execute the harmonized strategy of the Union.
The courts must enforce foreign judgments that meet the criteria described in this article. In fact, once a foreign judgment has been rendered “executor” by a court in the DR. Congo, it may be enforced by writ or order of the court. Generally, as in most civil law systems, the court will recognize the foreign judgment and issue the enforcement order in the same proceeding.
The Commercial and Legal Significance of Laytime & Demurrage in English Law and the New Turkish Commercial Code
So far as the global shipping practice is concerned, laytime & demurrage is one of the most complicated topics for both ship-owners and charterers under voyage charter-parties. Thus, the dynamic between the parties has been sought to be balanced through a number of attempts which have been made either by courts or legislators in shipping world.
The Hungarian Parliament has recently adopted a new act arguing that the provisions of the current data protection are outdated. Although the applicable EU directive is under significant review in the EU, the new Hungarian act still follows the old (current) EU legislation. The new act is called Information Act), and maintains the rigid Hungarian system of data protection and misses the opportunity to help foreign data processing.
By Karbal & Co.
During the late 1960’s and early 1970’s, Libya was the leading state among the Developing Countries. Due to Gadaffi’s arbitrary economic policy, Libya became the least developed among oil producing countries.
The new package of measures adopted by the European Commission regarding the action to be followed for growth governance and stability contains four elements: the 2012 Annual Growth Survey consists of priorities for the coming year, a Green Paper on the feasibility of introducing Stability Bonds and two new Regulations to further strengthen budgetary surveillance in the Euro area. By adopting this package, the European Union focuses on the strengthening of the Eurozone governance.
In the Republic of Cyprus only certain persons and companies are permitted to undertake investment services and activities (for a full list of such regulated activities please refer to the end of this article)[i] and such entities are tightly regulated in order to ensure high standards and full consumer protection. The Cyprus Securities and Exchange Commission is the body responsible for the issuing of licenses and for overseeing the operation of such entities.
Regulation D, Rule 506 Offerings - To offer and sell securities in the United States, an issuer must comply with the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), or must offer and sell the securities pursuant to an exemption from the registration statement requirements.
Investor relations involve the dissemination of information regarding a publicly traded company to create awareness of the public company and its business and to increase its stock price. The person who provides the investor relations services is known as a “Stock Promoter”. Stock promoters have used illegal practices and are often the subject of enforcement actions by the Securities and Exchange Commission (the “Commission”) is the stock promoter.
FINRA Rule, 6490, recently enacted in September 2010, requires issuers of equities and debt securities not listed on exchanges to provide timely notice to FINRA of certain corporate actions. These corporate actions include name changes, forward stock splits, reverse stock splits, distributions of cash or securities such as dividends, stock splits and other actions, and rights and subscription offerings.
What is a Shell Company? Securities Act Rule 405 and Exchange Act Rule 12b-2 define a Shell Company as a company, other than an asset-backed issuer, with no or nominal operations; and either: • no or nominal assets; • assets consisting of cash and cash equivalents; or • assets consisting of any amount of cash and cash equivalents and nominal other assets. By: Brenda Lee Hamilton, Attorney Hamilton & Associates Law Group
Registration of securities on Form S-8 (“Form S-8”) is a short-form registration statement under the Securities Act of 1933, as amended (the “Securities Act”). By Brenda Lee Hamilton, P.A. Hamilton & Associates
Given the new globalization effects in modern societies and the consequences of the financial crisis, EU adopted a new approach towards immigration policy. This European policy intends to establish bilateral and multilateral agreements with EU neighbors and other countries presenting immigration flows towards the EU, in order to benefit the human capital from the countries concerned.
Introduction - Environmentally sustainable management at an international level requires reliable information on the natural environment, as well as sharing of knowledge on the social, economic, legal and political systems. Environmental impacts of human activities on the deep sea floor are of increasing international concern.
Purpose, Scope, Basis and Definitions
Foreign national citizens are obliged to be granted work permit by the General Directorate of Foreign Capital in order to perform work inside the borders of Turkey. The application to the General Directorate of Foreign Capital is submitted by the Employer.
By OPARA Law PC
Corporate law attorneys are required in a number of aspects of a business and business affairs. Legal orders may sometimes require you to necessarily incorporate a new company to make sure that the correct paperwork is filed with adequate governmental requirements.
Have you wondered how the Ethiopian law addresses the issue of execution of foreign judgments? Below you will find brief note on how foreign Judgments are executed or enforced in Ethiopia.
Do you want to know about areas of investment permitted for investment according to Ethiopian law? Below you will find these areas of investment divided by sector of investment.
The author has prepared this document to assist in the evaluation of alternatives offshore structures for the better planning of their assets, estate and business transactions.
By OPARA Law PC
Canada is the foremost foreign destination for expanding franchises and a preferred entry point for cross border franchisers, especially for those seeking to enter the North American market. With high per capita personal incomes, a stable and reliable economy, and a sophisticated consumer culture, many franchisers find Canada to be an opportunistic and rewarding market. However the Business Franchise Law in Canada is too stringent and hence seeks attention.
On November 3, 2011, Verkhovna Rada of Ukraine adopted in general the draft Law of Ukraine On amendments to the Customs Code of Ukraine that will become effective as of January 1, 2012.
On May 4th 2011, the Ministry of Commerce (“MOFCOM”) issued a Draft of the Management Measures regarding Capital Contribution by Equity to Foreign Invested Enterprises (“FIEs”) for public comments ("Draft Measures"). The deadline for the submission of comments was May 20th, 2011.
On March 4th 2011, Ministry of Commerce (“MOFCOM”) issued the Interim Rules on Implementation of a Security Review System regarding M&A Transactions Executed by Foreign Investors over Domestic Enterprises (the “Interim Rules”), which will come into effect on March 5th, the same day the Notice on the establishment of a security review system regarding merger and acquisition (“M&A”) transactions over domestic enterprises executed by foreign investors (“the Notice”) comes into effect.
Security Review System Regarding M&A Transactions Executed by Foreign Investors over Domestic Enterprises - China
Notice on the establishment of a security review system regarding merger and acquisition (“M&A”) transactions over domestic enterprises executed by foreign investors (“the Notice”) was issued by China's State Council on February 3, 2011, which will come into effect on March 5, 2011.
Measures for the Launching of a Pilot Foreign-Invested Equity Investment Enterprise Project in Shanghai
Implementing Measures for the Launching of a Pilot Program for Foreign-Invested Equity Investment Enterprises in Shanghai (the "Measures") were issued jointly by the Shanghai Municipal Financial Services Office, Shanghai Municipal Commission of Commerce and Shanghai Municipal Administration of Industry and Commerce on January 12th, 2011. The Measures will be effective on February 1st, 2011.
The Connecting Europe Facility (CEF) Regulation and its impact on Cyprus Republic. The European Commission adopted on October 2011, a plan with a huge budgetary importance of around 50 billion euro aiming at improving EU’s transport, energy and networks.
Cyprus was a British colony until 1960 and as such the Cyprus legal system was highly influenced by the English legal system and the principles of common law and equity were adopted by the legal system of Cyprus.
The international law operates on the basis of coordination with elements of compromise in the relations between states. In these relations equality prevails between states based on their sovereignty. This spirit is entirely followed by the law “On International Law” nr.10428 date 02.06.2011. The law is conceived as an act which reflects the rules adopted by the EU legislation and fulfills the obligations of Albania that arise from the membership in the Hague Conference on International Law.
The EU Commission has recently presented a draft regulation with the purpose of creating a standard sales regime across the European Union.
By Molina & Co.
Panama and the United States approved the Trade Promotion Agreement (TPA).
In September, 2011, a consortium of five Chinese companies invested 2 billion USD to acquire a minority stake in a Brazilian metal company...
By MMLC Group
This update looks at major recent developments in legal and business issues in China.
One of the advantages of arbitration proceedings over domestic court proceedings is the opportunity for the parties to select the person(s) that will decide on the issue in question, the arbitrator(s). In arbitration proceedings the parties are enabled to nominate arbitrators that have a certain specialized and up-to-date know-how that might be required to understand the technical background of the issues in question.
Arbitration proceedings offer various important advantages to the normal local court proceedings in Thailand.
In Thailand, Section 11 of the Arbitration Act (2002)(the "Act") specifically requires that the parties, must enter into a written "Arbitration Agreement" that is signed by both parties. Furthermore, the Arbitration Agreement must state that the parties want arbitration proceedings govern all disputes arising out of a specified legal relationship, like a contract.
If you are doing business in Thailand you might have already had some experience with the local court system. An all too common complaint of the local business community is that court proceedings in Thailand are agonizingly slow.
A Sovereign Investment Authority (Establish, Etc.) Act, 2011 has established for Nigeria a Sovereign Investment Authority. This Authority is charged to receive, manage and invest in diversified portfolios the excess of the medium and long term revenue of the Federal, States, Local Governments and Area Councils. The Proceeds of these investments are statutorily required to create a savings base for the country, develop infrastructure that will attract local and foreign direct investments.
A Limited Liability Company (LLC) is an important investment vehicle for Israelis who operate in the US. An LLC is a company incorporated under the laws of one of the US states. In practice, LLC’s are often formed in the state of Delaware for administrative ease. They are relatively cheap to form and run. An LLC does not have shareholders, but rather members.
Finance ministers and Central Bank governors of European Union Member States debated during the last informal Economic and Financial ECOFIN Council of September 17, the current condition of the economy and the situation in sovereign bond markets. The debate on the European Union’s financial stability was also attended by representatives of European financial oversight authorities.
New legislation to present abuses to the disclosure of deals. New rules were adopted September 14, 2011 by the European Parliament to prevent abuses in wholesale energy trading for the final protection of consumers. According to the legislation, wholesale trading will be monitored independently across the EU, in order to enable Member States to prevent and punish anti-competitive behaviors.
All European Union countries have been affected between 2008 and 2010 by the economic and financial crisis and after a contraction in 2009 in every EU country, except Poland, growth returned in 2010 in all but five peripheral countries. While in 2010 several countries continued to support their economies through discretionary measures, other countries had less room for maneuvers given their underlying public finance situation trying to consolidate them.
Obtaining the Belgian professional card is a compulsory step for non-EU citizens who plan to set up a company or to buy a running business in Belgium. With the work permit (for expats as employees) and the wealth card (for people who can prove that their financial means avoid them to work), professional card is also the best way to become a Belgian resident.
Following the implementation of the 6th Environment Action Program (EAP), which was adopted on 22 July 2002 and provided the framework of EU’S Environment legislation and extended the Natura 2000 network, the European Commission adopted on 31 August 2011 the final assessment of the 6th EAP (2002-2012).
Based on Eurostat’s researches, the Republic of Cyprus disposes a very promising feedback from the energy saving and the renewable energy schemes, as more and more people apply for the available funding.
A treaty for the avoidance of double taxation has been signed between Israel and Malta, and a treaty for the avoidance of double taxation has been initialed between Israel and Panama. These treaties will enter into force on completion of ratification proceedings in the two countries.
Over the last several years the pharmaceutical markets of some countries of the former Soviet Union have witnessed strengthening positions of domestic production of medicines, as well as the general tendency of the imported medicines substitution by the domestically produced pharmaceutical products (so-called “import substitution”).
The Czech Republic has concluded another agreement on exchange of information on tax matters (TIEA). Following the signing of similar agreements with the British Virgin Islands on 13 June 2011 and the Isle of Man on 18 July 2011, the Czech Republic concluded and signed a TIEA with Bermuda on 15 August 2011.
Do you want to know about areas of investment permitted for investment according to Ethiopian law?
On July 1st, 2011, the Trademark Office issued a new Resolution concerning the elimination of the possibility of obtaining an extension to the deadline to file oppositions against new trademark applications. The new resolution is highly ambiguous and leaves many open questions. Risks shouldn’t be taken, we suggest filing any oppositions in due term until the scope of this regulation is clarified by the Trademark Office.
The Doctrine of Freedom of Contract also known as “Laissez Faire” is the basis for international carriage contracts, according to Common Law.
An article related to the Hague Visby Rules and goods on deck.
The Cendor MOPU case law brings a new scenario to insurance law.
This article aims to highlight the most essential legal requirements of Ukrainian legislation to foreign economic contracts which should help foreign companies to identify certain principal points subject to negotiations between the parties.
Whether it’s a start-up project or a successfully running company, at some point in time every business faces a need to raise money for a variety of reasons. There are two basic ways to raise capital: either debt or equity. This article focuses on comparative analysis of primary disclosure requirements for debt and equity offerings.
This article provides information to law firms and their clients to help them strategize on how best to get their foreign commercial arbitration awards enforced in Ghana.
The main aim of this article is to introduce business establishment models and procedure in Turkey to foreign direct investors who has intention of doing business in Turkey.
In March 2011, the European Commission adopted a plan for saving more energy through concrete measures. Energy efficiency is a key tool to strengthen Europe’s competitiveness and reduce energy dependence, as well as the level of emissions. The measures proposed aim at creating substantial benefits for businesses and public authorities.
The package of measures proposed by the European Commission aiming towards better regulated immigration flows from the southern Mediterranean region as well as the proposal to amend EU Regulation on visas consists of the new incentives of EU bodies for a fair, credible and effective EU immigration policy.
The Isle of Man and the Czech Republic signed a Tax Information Exchange Agreement (TIEA) on 18 July to regulate and facilitate the exchange of tax information between them. The TIEA will enter into force after both parties have completed all required ratification procedures and exchanged corresponding notifications. Most of its provisions will then take effect immediately, with the remainder taking effect on the following 1 January.
The Greeks abroad can take their share of their inheritance, without even having to travel to Greece.
Fund managers don’t like surprises. And it is this aversion to anything unknown that has caused the more “traditional” financial centers like London, Luxembourg, Ireland and Switzerland to boom as financial centers towards which fund managers have gravitated and established themselves over the past 20-odd years.
Malta has established itself on the map of domiciles of choice for alternative investment funds and continues to build its reputation as a financial services hub – a brief overview of the key ingredients for Malta’s success.
On 19 July 2011, the European Commission issued a list of the first sustainable voluntary schemes for biofuels recognized directly in the 27 EU Member States. According to the Energy Commissioner, Günther Oettinger, the EU has to secure the entire biofuels production and supply with the highest sustainability standards in the world under a transparent and reliable system.
The volume of e-commerce has been constantly expanding in Turkey. The total e-commerce volume of 15,2 million TL recorded in 2010, is expected to expand by 50% in 2011.
On 17 December 2010 the European Council agreed on the need for a Eurozone area and on the establishment of a permanent stability mechanism which will intervene by providing financial assistance to the Eurozone Member States after June 2013.
The Council concluded on 12 July 2011 the first European Semester which has been implemented this year, for the first time, as part of a broader reform of the EU’s economic governance. Based on the European Council’s decision a recommendation has been adopted on the implementation of the Eurozone Member States’ economic policies as well as a recommendation on its National Reform Program 2011 and the Stability Program 2011-2014 for each Member State.
The states of North Africa and the Middle East are high growth markets, having recently achieved growth rates higher than many so-called “industrialized countries.” Unfortunately, these developments have not been accompanied by the kind of patent protections that would apply in countries with longer histories of technological innovation. The NA/ME States are at a cross roads and it is timely to consider how their systems for the protection of technology measure up to international standards.
Which welfare rights for the crews? Maritime welfare law was initially developed under the aegis of the domestic legal systems of shipping Nations, each setting their own rules on board their ships. Ships’ freedom of registration and shipping internationalization were the main factors undermining domestic frameworks.
The European Commission has faced the challenge of being able to fund a number of policy areas where the EU could be more effective, by acting at EU level, in preparing its proposals for the future budget of the European Union. In its proposal, based on the Europe 2020 Growth Strategy, a new funding potential can be seen attempting to ease the direct impact of the national budgets with the creation of a new Multiannual Financial Framework (MFF).
To create an order in the investment activity, the authorized body needs to set out a line of licensing process before an investor could conduct the investment activity in the territory of Indonesia. Investment Coordinating Board (Badan Koordinasi Penanaman Modal) (“BKPM’) introduced a system, namely Integrated One Door Service (Pelayanan Terpadu Satu Pintu) (“PTSP”) whereby investors can enjoy certain facilities.
Every year, many U.S. citizens make the decision to adopt a child from overseas.
In the European Commission’s Communication regarding the contribution of the regional policy in the area of smart growth in the Europe 2020 strategy, the central role of European regions in this process is primarily recognized.
One of the fastest growing sectors in the Ghanaian economy is the Real Estate industry. In fact this is not strange to industry analyst especially as the World Bank’s Global Economic Prospect Report has projected that Ghana will become the fastest growing economy in fiscal year 2011 in sub-Saharan Africa.
The Anti-Monopoly Law (“AML”) opens a new landscape for merger and acquisition practice in China. Regardless where a merger takes place, if the transaction satisfies the prescribed conditions, it must be filed with China's Ministry of Commerce (“MOFCOM”), the agency charged with enforcing the merger control laws in China, for business concentration review.
Following the Justice and Home Affairs Council meeting of 9 and 10 June 2011, the Council discussed the political guidelines for the future work of the following issues:
The lists of third countries whose nationals should be in possession of a visa when crossing the external borders and those whose nationals are exempt from that requirement have been amended on several occasions. When introducing or lifting a visa obligation for a third country the current procedure can take several years. It has become clear that further technical modifications to the main text of the Regulation (EC) No. 539/2001 are needed.