Category: LEGAL ALERTS

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, …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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Spain launches visas and tax breaks for digital nomads

The COVID-19 pandemic has upended conventional thinking about work, creating impetus to increase the number of digital nomads – i.e., freelancers and remote workers traveling the world while working online. Some states provide favorable conditions for such migrants in order to attract qualified specialists and additional cash flows to the economy. Spain has joined their …

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