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Mergers and Acquisitions: Why Immigration Matters and How to Get it Right
Shepherd and Wedderburn LLP, May 2019

In an increasingly global world, an organisation’s ability to recruit and retain international talent plays an ever important and potentially business critical role. In the UK, the only way in which employers can directly employ many of these talented individuals is through obtaining a sponsor licence from the Home Office...

What Organisations Should be Doing Now to Recruit and Retain EU Workers Post-Brexit
Shepherd and Wedderburn LLP, May 2019

The Brexit referendum vote and its potential impact on free movement has already resulted in many businesses struggling to meet their labour needs; the number of EU migrants has declined markedly at a time when Scotland and the UK is enjoying record levels of employment. As a consequence, immigration has risen to the top of many organisations’ agendas to ensure they can recruit and retain the talent they need to grow their businesses and remain competitive...

Competition Regulator Sharpens Focus on Construction Sector
Shepherd and Wedderburn LLP, May 2019

The Competition and Markets Authority’s (CMA) Chief Executive, Andrea Coscelli raised concerns in April at “seeing a lot of evidence of anti-competitive conduct in the construction industry”, adding the CMA had “already taken a number of cases in this sector…”. Recent enforcement action from the CMA, outlined below, suggests regulatory intervention is only likely to increase...

Brexit Breathing Space for Food Business Operators
Shepherd and Wedderburn LLP, May 2019

Whatever your views on Brexit, the deferment of the UK’s leaving date from the EU provided British industry some welcome breathing space to prepare for Brexit. Given the issues that still divide the two main political parties, the UK may yet leave the EU without a deal on 31 October...

BVI Companies - Economic Substance Law
Afridi & Angell, April 2019

British Virgin Islands (BVI) companies are commonly used in the UAE by investors to hold real estate properties and/or shares in UAE companies. Investors need to be aware of a recently enacted BVI law, the Economic Substance (Companies and Limited Partnerships) Act, 2018 (the Law), which introduces economic substance requirements in the BVI...

Navigating the British Virgin Island's Economic Substance (Companies and Limited Partnerships) Act, 2018
O'Neal Webster, April 2019

The European Union continues to push out new rules aimed at offshore financial centers. Specifically, the Code of Conduct Group (CCG) within the EU’s Economic and Financial Affairs (ECOFIN) Council has determined that jurisdictions that fail to satisfy the CCG’s requirement to end “preferential treatment” for non-resident companies are to be deemed ‘non-cooperative’ and effectively blacklisted...

Uganda Passes New Investment Code
ENSafrica, April 2019

Uganda has enacted the Investment Code Act, 2019 (the “Code”). The previous Code was enacted in 1991 and was long overdue for amendment given the changes in approach to attracting investment and the glaring weaknesses in the old Code. The new Code strengthens the Uganda Investment Authority (the “Authority”), establishing it as a one-stop investment centre, and also provides for the financing and auditing of the Authority...

Africa Tax in Brief
ENSafrica, April 2019

AFRICA: African Continental Free Trade Area Agreement developments Botswana and Zambia signed the African Continental Free Trade Area Agreement (“ACFTA”) on 10 February 2019 at the 32nd summit of the African Union in Addis Ababa, whereas the Ethiopian Council of Ministers approved the ACFTA on 2 February 2019 and the Parliament of Senegal on 23 January 2019...

The SGX and the New Capital Market
TSMP Law Corporation, April 2019

We bemoan the lacklustre stock exchange and complain that the government isn’t doing enough. We point to greener trading pastures in Hong Kong. Is it time to re-look at the role of the stock market and how we benchmark ourselves?This February,Bloombergpublished an article headlined The Incredible Shrinking Singapore Stock Market, which stated that overthe past five years, more companies had exited than joined the SGX, leading the bourse to suffer a net outflow of S$19...

Counting the Cost of Imported Goods in a No-Deal Brexit
Shepherd and Wedderburn LLP, March 2019

One of the key issues raised consistently in the discussions around a no-deal Brexit is the impact it would have on the customs duties payable on goods that are imported in to the UK. Whilst MPs have now voted against a no-deal Brexit, this does not change the legal position – that unless a deal is agreed, there will be a no-deal Brexit, (or no Brexit at all)...

Action You Can Take Now to Protect your Business and Your Family Against a No-Deal Brexit
Shepherd and Wedderburn LLP, February 2019

One of the few things that is becoming clearer amidst the Brexit fog is that a ‘no-deal’ is no longer a fanciful possibility. The UK Government, in itsWhite Paper on Immigration Reformpublished at the end of last year, claimed the changes it proposed would lead to the most significant changes to immigration control in 45 years. However, that historic change, scheduled for December 2021, may come sooner than anticipated...

Public Procurement in Scotland Post Brexit
Shepherd and Wedderburn LLP, February 2019

The Scottish Government has published its first two Scottish Procurement Policy Notes (SPPNs) for 2019, both of which relate to public procurement in Scotland in the event that the UK exits the European Union without an agreement (a ‘no-deal’ Brexit), and has published accompanying draft legislation to implement the changes it proposes. The first policy note (SPPN 1/2019) sets out the Scottish Government’s proposed changes to public procurement legislation...

Merger Clearance Matters
Afridi & Angell, February 2019

Introduction The United Arab Emirates (the UAE) promulgated legislation to specifically address the regulation of competition (being Federal Law 4 of 2012, or the Competition Law) several years ago but until recently, it has been the case that the requisite implementing regulations and processes were not in place. This is no longer the case...

Crowdfunding as a Source of Financing for Businesses
Morgan & Morgan, February 2019

  One of the biggest challenges that micro, small and medium enterprises face when trying to settle in and achieve success as profitable businesses is to obtain capital and sources of financing...

Regulation of Cryptoassets: Stifling Innovation or a Catalyst for Growth?
Shepherd and Wedderburn LLP, February 2019

The Financial Conduct Authority (FCA) recently launched a consultation on its proposed guidance on cryptoassets (CP19/3) which can be read in fullhere. The move comes as part of the UK Cryptoasset Taskforce's wider look into the regulation of the cryptoasset market. The consultation follows a report published in October 2018 by the Taskforce, which consists of the Bank of England, HM Treasury and the FCA. Our discussion of that report can be readhere...

New Promotion Regime for Domestic Funds
Afridi & Angell, January 2019

In late November 2018, the Securities and Commodities Authority (SCA), the Dubai Financial Services Authority (DFSA) of the Dubai International Financial Centre (DIFC) and the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) announced that they had reached agreement on facilitating the licensing of domestic funds by each authority for promotion across the UAE. This is a potentially significant development...

British Passports for Children of EU Nationals: A Handy Guide
Shepherd and Wedderburn LLP, January 2019

“I don’t want a British passport for myself but should I get one for my child?” This is a common immigration-related enquiry, and one my team and I have been asked about by EU nationals repeatedly since the June 2016 referendum vote...

British Passports for Children of EU Nationals: A Handy Guide
Shepherd and Wedderburn LLP, January 2019

“I don’t want a British passport for myself but should I get one for my child?” This is a common immigration-related enquiry, and onemy team and Ihave been asked about by EU nationals repeatedly since the June 2016 referendum vote...

Tax Incentives to Eliminate the Tax Withholding on Interest Paid Abroad and to Encourage Productive Investment Projects in Mexico
Basham, Ringe y Correa, S.C., January 2019

An executive order to eliminate the income tax withholding for interest paid abroad on bonds listed in a stock exchange, as well as to grant tax incentives to taxpayers investing in a capital market in Mexico was published in the Federal Official Gazette on January 8, 2019. The following tax incentives were created for productive investment projects: Corporate Bonds...

Overview: Expect Increase in Private M&A Transactions in 2019
Simonsen Vogt Wiig AS, December 2018

Despite a positive and active start in H12018 with high M&A activity in the Norwegian market, the total number of completed deals in Norway in 2018 will be significantly lower than in 2017. YTD it has been registered 248 completed deals in Norway compared to 346 in 2017 (full year)...

State Aids for Inland Ports – An Introduction
Heuking Kühn Lüer Wojtek, December 2018

Inland ports are of significant importance for handling of freight. Most inland ports are trimodal (road, railways and waterways) and have the necessary infrastructure to handle freight coming from all over the world. Recent State aid measures address the increasing importance of inland ports and allow subsidisation predominantly for constructing infrastructure...

China Encourages Share Repurchase by Revising the Company Law
Deacons, December 2018

On 26 October 2018, the Standing Committee of the National People's Congress approved a decision to revise the Company Law of the People’s Republic of China (Revision), with the aim of supplementing and improving the existing share repurchase regime. We have set out a brief introduction to this Revision below. Background It has only been five years since the last revision to the Company Law of the People’s Republic of China (Company Law)...

EU State Aid Rules and The National Courts: An Opportunity for German Litigators
Heuking Kühn Lüer Wojtek, December 2018

These days more and more use is being made of the Treaty rules on State aid. The European Commission is using the State aid rules in an innovative way to take over competence from the Member States in tax regulation by challenging the selectivity of national measures or rulings, which give preferable treatment to certain taxpayers...

End to Foreign Ownership Cap of Brazilian Airlines
Veirano Advogados, December 2018

The Brazilian Federal Government recently published Medida Provisória No. 863/2018 ("MP 863/18"), a new rule that amends Federal Law No. 7,565, of December 19, 1986 (Brazilian Aviation Code) and lifts the existing restrictions to foreign capital shareholding in Brazilian air transportation companies. As a result, foreign investors are from now on able to hold up to one hundred percent (100%) of the voting capital of Brazilian airlines...

EU Publishes Amendments to VAT Legislation Affecting Intra-Community Trade
Garrigues, December 2018

Call-off stock or consignment stock is specifically regulated, changes are introduced into chain sales, and requirements are laid down for applying the exemption to intra-Community supplies of goods...

 

 

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