Category: LEGAL ALERTS

Russia’s Countersanctions Summary

September 2023 To offset the effects of sanctions imposed on Russia, its authorities have put in place numerous counter- sanctions measures that are regularly updated, revised and expanded. I. “Unfriendly” persons A new category of “unfriendly” states has been introduced, which includes the USA, UK, EU and other countries that have imposed unilateral sanctions / restrictions …

Russia’s Countersanctions Summary Read More »

Andorra welcomes you

You may enter this country from two directions: from France and from Spain. In the first case, a spiralling highway awaits you that will make your heart miss a beat. Then you will suddenly stumble upon a border crossing point and bump into a drowsy French border guard who will most likely not even look …

Andorra welcomes you Read More »

Partial suspension of tax treaties

On August 8, 2023, Russian President Vladimir Putin signed an Executive Order to suspend certain provisions of Double Taxation Treaties with a number of countries[1] (respectively, the ‘Order’ and the ‘Treaties’). The Treaties that are subject to the Order are those with the EU countries, the USA, Korea, United Kingdom, Albania, Montenegro, Norway, Canada, Switzerland, …

Partial suspension of tax treaties Read More »

Government Commission sets an updated list of criteria for coordinating transactions with membership interests and shares

The Sub-Commission of the Government Commission for Overseeing the Making of Foreign Investments in Russia (‘the Sub-Commission’) has approved an updated list of criteria for issuing permissions for transactions with shares, membership interests and deposits (the ‘Assets’) involving foreign parties connected with states taking hostile actions against the Russian Federation. The decision of the Sub-Commission …

Government Commission sets an updated list of criteria for coordinating transactions with membership interests and shares Read More »

The charming Kingdom of Morocco

The legal jurisdiction we would like to focus your attention on in this short essay is Morocco.  While for some people Morocco is cosmic blue wrapped in the gardens of Majorelle and for others it is the fragrance of saffron leading to Casablanca, for business it is a promising new jurisdiction that should not be …

The charming Kingdom of Morocco Read More »

Saving cannot be terminated

In 2022, the procedure for economic and tax cooperation between Russia and many Western countries underwent significant changes. At the official level initiatives are being taken to terminate agreements on the avoidance of double taxation with “unfriendly” countries (the “Agreements“). In particular, the Ministry of Finance and the Russian Foreign Ministry made a proposal to …

Saving cannot be terminated Read More »

Setting up an IT company in Georgia

Georgia is continuing to attract foreign business to the country, inviting foreigners to establish subsidiaries and new companies or to open up branches. With a view to this, special tax regimes have been created for IT companies. As distinct from other states, the criteria for companies claiming eligibility for tax benefits in Georgia are extremely …

Setting up an IT company in Georgia Read More »

Digital nomads and ‘Beckham’

On 21 December 2022, the Spanish Parliament (the Cortes Generales) approved the Law on promoting an ecosystem of startups, known as the ’Startup Law’, which came into force on the next day. The Startup Law provides for the main tax benefits and social guarantees that are listed below. This regime (the ‘Beckham Regime’) will apply …

Digital nomads and ‘Beckham’ Read More »

Georgia is a land of opportunities

An increasingly smaller number of countries now offer sufficiently convenient taxation to allow cross-border business to be carried out. Georgia is one such country. Despite the recent deterioration in the attitude towards newcomers, this small country still affords to expatriates the opportunity of working under very comfortable conditions. Georgia has two tax statuses which can …

Georgia is a land of opportunities Read More »