Establishing a New Branch in Berlin
|
|
- Randell Boone
- 7 years ago
- Views:
Transcription
1 This document can be accessed at under Doc. No Establishing a New Branch in Berlin Contents: Establishing a New Branch in Berlin Establishing a Subsidiary Establishing an Independent Branch Establishing a Dependent Branch Representative Office Requirements under the Aliens Act Formalities and Documents to be Submitted The Tax Requirements which Apply to Foreign Branches... 9 Your Contact: Sabine Kirschgens sabine.kirschgens@berlin.ihk.de 1
2 Berlin offers such great business opportunities that many German and foreign companies decide to explore the options available for opening a new branch here. They are faced with three different possibilities: establishing a subsidiary, an independent branch or a dependent branch. This leaflet is intended to summarise the ways in which you can extend your commercial activities and explains the formalities which have to be observed. 1. Establishing a Subsidiary Establishing a subsidiary means founding a corporate entity which is legally independent of the parent company. The respective statutory regulations governing whichever legal form the subsidiary chooses to adopt are to be found in the relevant legislation (the Commercial Code ( Handelsgesetzbuch [HGB]) in the case of OHGs and KGs, the Limited Liability Companies Act ( GmbH-Gesetz ) for GmbHs and UGs (with limited liability), and the Stock Corporation Act ( Aktiengesetz ) for AGs). The subsidiary operates under its own name and draws up its own balance sheet; its rules of incorporation, business registration and entry in the Commercial Register are governed by German law, even if the parent company is domiciled abroad. 2. Establishing an Independent Branch Under Arts. 13 ff. HGB, an independent branch is an establishment physically separate from its head office, created for the long term as an additional entrepreneurial hub, which has to be entered in the Commercial Register. A company might decide to establish an independent branch if its head office is already entered in the Commercial Register or if the company concerned is foreign its head office would have to be entered in the Commercial Register if the company were based in Germany. An independent branch is not a legal entity in its own right, and does not exist in isolation from the head office. In legal and organisational terms, it is part of the same company and governed by its procedural requirements. If the branch is established by a foreign company, its internal organisation shall comply with the company s statute and with the applicable law of the country concerned. Despite this internal dependence on the head office, the branch participates independently in business transactions. It must be organised in such a way that it could continue to operate even if the head office ceased to exist. The legal relationships between the branch and its customers are governed by German law, as is the treatment of the branch s legal affairs in Germany (in particular its entry in the Commercial Register). The physical separation between the head office and the branch does not mean that they must be situated at different geographical locations. Thus, under specific circumstances it is possible that both might maintain business premises in the same building. 2
3 Some of the typical characteristics of an independent branch are as follows: the same or a similar type of business is conducted as at the head office (not merely auxiliary functions or the execution of transactions); it must be intended to be operational for a certain length of time (i.e., not merely to handle temporary trade-fair business); outwardly, it must be organised in a similar way to a head office (generally, but not necessarily, with a separate accounting department, its own bank account and its own business premises); the branch manager must have been granted key powers and be free to act autonomously. Establishing the branch An independent branch is created by virtue of its actual establishment process. Its entry in the Commercial Register has only declaratory value. The decision to establish the branch is to be made by the relevant management boards at the head office. Capital The legal status of an independent branch requires it to have its own capital resources. However, there is no minimum capitalisation requirement. Neither is the level of capitalisation recorded in the Commercial Register. Internal organisation The head of the branch has independent authority to represent it vis-à-vis third parties. However, it is always the headquarters, whether in the form of a natural person or a legal entity, which is the debtor in the case of liabilities. The head of the branch is typically granted authority to act or power of attorney at the very least, which can be restricted externally to the operation of one or more places of business owned by the company s proprietor. Company name The name of the branch may be identical to that of the head office, but can also differ, although in this case it should at least include an indication of its status (e.g.: ABC GmbH, Frankfurt Branch, or XY Services, a division of ABC GmbH). A suffix must be added if power of attorney pursuant to Art. 50(3) HGB is to be restricted to the operation of a branch with effect vis-à-vis third parties, or if a company with the same name is already registered at the location where the branch is to be established. The name of the head office must appear without alteration in the company name of the branch of a foreign company (if applicable, also in the foreign language), and should include a suffix indicating its legal form. If the addition of such a suffix is not required under the law of the country concerned, or if this suffix is uncommon or not readily understood in Germany, then a clarifying suffix must be added to avoid any misunderstanding. A suffix may also be added to the branch s company name (e.g., Zweigniederlassung Frankfurt, [Frankfurt branch]). Information to be included in commercial correspondence Any letters written by the branch must bear the complete company name. The Register in which the branch is listed must also be identified. In addition, the mandatory information required about the head office on the basis of its legal form must be supplied. Additional information about the 3
4 company headquarters is desirable, but not actually required by law. When sending correspondence from Germany, the German branches of foreign companies are obliged to meet certain minimum requirements in terms of the information they include in commercial correspondence: details of the Register in which the branch is listed, its registration number, the complete foreign company name, including a suffix which indicates its legal form, details of the Register in which the foreign company is listed, the information which German law requires companies of a particular legal form to include in their business correspondence, unless otherwise specified by the law of the country concerned. The following information must be included in the business papers of foreign legal entities from outside the EU or the EEA: the company name, the town and country in which the company has its registered office, and its legal representatives (surnames and at least one first name). Annual financial statements Mandatory accounting and the obligation on an independent branch to prepare a balance sheet are governed by German law. In case of doubt, the branch should comply with the regulations applicable to the German legal form which corresponds most closely to that of the foreign company. Independent branches and the courts Although an independent branch is not a separate legal entity, it comes under separate jurisdiction pursuant to Art. 21 of the Code of Civil Procedure (ZPO). This means that claims may be made against a trader at the location where the branch is based, provided the dispute is of a pecuniary nature and arises from the operation of the branch. 3. Establishing a Dependent Branch Another option facing a company wishing to expand is to set up dependent branches or permanent establishments. Under Trade Law, this means additional establishments or affiliates of the company which are set up as business premises, but which are dependent on the company headquarters. They are therefore dependent establishments which may not be managed under any other company name than that of their head office. In legal terms, a single business is simply deemed to be operating from more than one separate location. Invoices are also issued in the name of the head office. The dependent branch is not entered in the Commercial Register. Nonetheless, each business establishment must be registered with the relevant Trade Licensing Office. Consequently, the business correspondence of the branch must include details of the head office (company name, registration court and Commercial Register number). The designation Zweigstelle Berlin (Berlin branch) may be added. If the head office is not listed in the German Commercial Register, the registration details of the foreign company must be given. When considering the degree of independence of an affiliate, which is generally a matter for the company itself, a key distinction is therefore to be made between a branch whose details have to be entered in the Commercial Register and a dependent branch. 4
5 4. Representative Office The term representative office is often used when companies especially from abroad establish a foothold in Germany. But it is not recognised under German trade or commercial law. If the office of the company concerned conducts commercial transactions itself as part of an organisation, it has the legal status of business premises requiring registration with the Trade Licensing Office. Alternatively, the office which is opened may be managed by an external, appropriately commissioned self-employed trader (e.g. a commercial representative). In this case, the foreign company is not pursuing independent commercial activities in Germany. 5. Requirements under the Aliens Act If subsidiaries, independent branches or dependent branches are operated by a natural person from abroad who is not an EU citizen, it is important to note that he/she will require a residence title pursuant to the Aliens Act which authorises him/her to engage in the intended form of gainful employment. This residence title is required irrespective of whether or not the individual concerned wishes to reside in the Federal Republic of Germany in the long run. However, the residence permit may be granted under less stringent conditions if the foreign citizen wishes to remain domiciled abroad and merely conduct discussions or negotiations on behalf of a foreign company in the Federal Republic, or if, for instance, he/she is assembling or servicing plant and equipment, provided the length of his stay does not exceed three months within a twelve-month period. If a foreign citizen already possesses a residence permit which contains an endorsement stating that he may not pursue a self-employed occupation, it may still be possible to apply to the Aliens Authority to have this endorsement amended. The outcome of the application will depend upon a statement issued by the Berlin Senate Administration in charge of economic affairs, which must determine whether such an activity is deemed to be in the overriding economic interests of Berlin, whether there is a particular need for such an activity in the locality, and whether the activity is expected to benefit the economy. 6. Formalities and Documents to be Submitted The formalities which must be complied with by those seeking to expand a business relate to registering the business with the Trade Licensing Office, entering its details in the Commercial Register and, in some cases, obtaining the necessary permits. Registering the business In Berlin, every type of establishment (subsidiary, independent branch, dependent branch, etc.) must register as a business. This is done by submitting a form to the commercial department (Abteilung Wirtschaft) of the regulatory agency (Ordnungsamt) in the city district where the business premises are located. When registering your business, you must present the following documents to the Trade Licensing Office (Gewerbeamt): 5
6 Documents establishing the identity of the individual submitting the application: Proof of identity in the form of an identity card or passport If applicable, (personally written and signed) evidence of authorisation to act for a third party (an individual or legal entity); in the case of a managing director, board member or holder of a power of attorney (Prokurist): evidence of authority to represent the company in the form of an extract from the company s entry in the Commercial Register Permits, if applicable (e.g. craftsman s card, real estate licence, etc.) Citizens from abroad must present a residence permit issued by the relevant Alien s Authority which contains an endorsement to the effect that the holder is entitled to pursue a self-employed occupation Evidence required in respect of the company: A company entered in the Commercial Register must provide proof of this in the form of an extract from the Commercial Register. A company entered in the Commercial Register of another country must present the appropriate evidence. A German translation must also be provided; official certification is not generally required. In cases of doubt, for instance if the address of the individual submitting the application differs from that of the business, evidence of the existence of the business premises must be provided by submitting a rental agreement or having this confirmed by the landlord. If there are justified grounds for so doing, a certificate of good conduct or information from the Central Business Register may be required. Special approval arrangements under trade legislation: Subsidiaries established in the case of a business requiring licensing or providing craft or trade services must comply with the same conditions under trade legislation as the parent company; this is the responsibility of the partners or, in the case of corporations, of the individuals with rights of representation. A number of special rules and regulations also apply to both independent and dependent branches in this sector: If an independent branch of a business providing craft or trade services is more than 100 km distant from the head office, it must have a master craftsman who is listed in the Register of Craftsmen as its representative or a technical operations manager. In the case of businesses requiring licensing (estate agencies, property development agencies, etc.), the permit will be issued to the trader, i.e., the proprietor of the main branch. Licensing shall be refused or revoked if the applicant himself, or the individual charged with managing an independent branch, is not deemed sufficiently reliable to run the business. Special conditions also apply to the licensing of independent or dependent branches, if the issuing of the licence depends not only on the personal characteristics of the applicant, but also on the nature of the premises (e.g., restaurants or amusement arcades). In this case, separate licences are required for the branch. Some trades, whilst not requiring a licence, must, however, comply with professional regulations. Examples include: a certificate of competence for those handling poisons and pesticides or involved in the retail sale of over-the-counter medication 6
7 mandatory book-keeping and record-keeping in travel agencies and in Berlin for dealers in second-hand goods and precious metals a hygiene certificate for those handling certain foodstuffs. Listing the company in the Commercial Register Subsidiaries and independent branches must be entered in the Commercial Register as well as registering with the Trade Licensing Office. Subsidiaries Independent subsidiaries must be recorded in the Commercial Register (Local Court) with jurisdiction for the location of the business premises. The registration must be certified by a notary public. Registering an independent branch of a German company The branch is to be registered at the registration court with jurisdiction for the location of the head office. The registration must be certified by a notary public. The following are responsible for the registration: in the case of a sole proprietor, the latter or an authorised signatory with a publicly certified power of attorney (Prokurist), in the case of a business partnership, partners authorised to represent the company and/or an authorised signatory with power of attorney (Prokurist), in the case of a limited liability company (GmbH), the managing directors (the holder of a power of attorney (Prokurist) is expressly prohibited from doing so), in the case of a joint stock company (Aktiengesellschaft [AG]), the members of the Board authorised to represent the company. In the case of a GmbH, a certified copy of the Memorandum of Association (Gesellschaftsvertrag) and a list of partners must be submitted. For an AG, a publicly certified copy of the Articles of Association (Satzung) as last amended at the time of registration is required. If the individual filing the application is not doing so in his/her own name but is acting for another party, a written power of attorney certified by a notary public is required. If the signature on a power of attorney was certified by a foreign notary public, legalisation (or an apostille) may be required, depending on the country concerned. This can be issued by a consulate of the Federal Republic of Germany. The Commercial Registry Court shall verify whether or not the name chosen for the independent branch differentiates it sufficiently from existing businesses domiciled in Berlin, and whether it exhibits the typical characteristics of an independent branch. Registering the independent branch of a foreign company The head of the branch is responsible for registering it at the court within whose jurisdiction the branch is to be established. Similar regulations apply as for the establishment of an independent branch by a German company; in some respects, they go further, because these branches are to be treated in a way similar to that applicable to the establishment of head offices in Germany. In practice, this means that: 7
8 The registration court in Berlin checks every aspect of the application document, and not just the choice of company name. The head of the independent branch bears full responsibility for all matters relating to statutory registration. The naming of the company is to be based on German legislative provisions. The following information must be supplied: On the parent company: details of the Register in which the company is listed, if registration is required under the law of the state to whose jurisdiction the company is subject, the legal form of the company, if the company is not governed by the law of a Member State of the European Community or of a State party to the Agreement on the European Economic Area, the state law to whose jurisdiction the company is subject, the name and registered office of the company, the object of the company, the date on which the Memorandum of Association was signed, personal details of members of the management team and/or board and their powers, the level of nominal capital/share capital, any time limits relating to the existence of the company. On the independent branch: the address and object of the independent branch, the level of branch's capital, the date when the decision was made to establish the branch, personal details of members of the management team and/or board who are entitled to represent the company at branch level both judicially and extra-judicially, and the extent of their representative powers, any time limits relating to the existence of the branch. Enclosures: evidence of the existence of the parent company, e.g., in the form of an extract from the home country s Commercial Register in a publicly certified form, together with a translation into German, a publicly certified and translated copy of the company s Memorandum of Association, if German law requires a licence to be granted because of the nature of the operation or object of the company, evidence must be supplied that such a licence has been issued, if applicable, evidence of authorisation to act for a third party (a natural person or legal entity) in a publicly certified form, together with a translation into German; in the case of a managing director, board member or holder of a power of attorney (Prokurist), an extract from the Commercial Register shall suffice as proof of powers of representation- If a foreign company wishes to establish more than one branch in Germany, one Commercial Register may be selected as the main register. All of the aforementioned documents need to be submitted to this Commercial Registry alone. Whether the foreign company s independent branch 8
9 is listed in Section A or Section B of the Commercial Register will depend on which legal form in use in Germany is similar to that of the foreign company. 7. The Tax Requirements which Apply to Foreign Branches If a foreign company has a base in Germany (business premises, a manufacturing facility, etc.), its profits are taxable in Germany. The taxes payable will depend on the legal form of the company, and will correspond to the taxes which a company of a similar German legal form would be liable to pay. The profits of the establishment which are taxed in Germany will either be exempt from taxation in the other country or will be subject to taxation there, in which case the taxes paid in Germany will be offset against the amount payable in the other country. The finer details of this are regulated by the agreements to avoid double taxation (DBA) negotiated between Germany and the other state. The taxes payable include income tax/corporation tax, the solidarity surcharge, wage tax, trade tax (Gewerbesteuer) and sales tax. IHK Berlin publishes leaflets as a service for its member companies. These are intended to provide a brief introduction to the legal principles involved, and do not claim to be exhaustive. They are no substitute for the extensive advice available from a lawyer/tax advisor who has carried out a detailed assessment of your individual circumstances. 9
GmbHs and UGs with limited liability
This document can be accessed at www.ihk-berlin.de under Doc. No. 120552 GmbHs and UGs with limited liability Contents: 1. General... 3 Corporations with their own legal personality... 3 Limitation of
More informationA R T I C L E S O F A S S O C I A T I O N X I N G AG XING AG
A R T I C L E S O F A S S O C I A T I O N OF X I N G AG 1. Name and place of incorporation of the Company 1.1. The name of the Company is: XING AG 1.2. The place of incorporation of the Company is Hamburg.
More informationAct on the Supervision of Financial Institutions etc. (Financial Supervision Act)
FINANSTILSYNET Norway Translation update January 2013 This translation is for information purposes only. Legal authenticity remains with the official Norwegian version as published in Norsk Lovtidend.
More informationDeposits and investments with Deutsche Bank AG are covered by two German protection
Deposits and investments with Deutsche Bank AG are covered by two German protection schemes: 1. Entschädigungseinrichtung deutscher Banken GmbH (EdB), the German private commercial bank s statutory compensation
More informationN.B. Unofficial translation, legally binding only in Finnish and Swedish. Ministry for Foreign Affairs, Finland
N.B. Unofficial translation, legally binding only in Finnish and Swedish. Ministry for Foreign Affairs, Finland Decree of the Ministry for Foreign Affairs on Fees for Services Produced by the Foreign Service
More informationOCCUPATIONAL RETIREMENT SCHEMES ORDINANCE GUIDANCE NOTES ON APPLICATION FOR AN EXEMPTION CERTIFICATE
NOTES ORS-3 OCCUPATIONAL RETIREMENT SCHEMES ORDINANCE GUIDANCE NOTES ON APPLICATION FOR AN EXEMPTION CERTIFICATE DEFINITION 1. Terms used in both the application form and the guidance notes are defined
More informationContents. The Norwegian user agreement was updated 12th April 2016. 1. LEGISLATION... 4 1.1. NORWEGIAN GREENHOUSE GAS EMISSION TRADING REGULATION...
USER AGREEMENT Terms and conditions for use of the Norwegian Emissions Trading Registry. The Norwegian Environment Agency manages the access to and use of the Norwegian part of the Union Registry. NOTE!
More informationHOW TO ESTABLISH A BUSINESS IN BOSNIA AND HERZEGOVINA
HOW TO ESTABLISH A BUSINESS IN BOSNIA AND HERZEGOVINA TABLE OF CONTENTS STARTING BUSINESS IN BOSNIA AND HERZEGOVINA...5 ESTABLISHEMENT OF BUSINES ENTITIES...5 Registration of business entity...5 Establishment
More informationAccording to section 53 of the Insurance Act the insurance intermediary is only empowered with respect to the transaction in which it takes part to:
Argentina MANZANO, LÓPEZ SAAVEDRA & RAMIREZ CALVO Martin Manzano and Ignacio Shaw mmanzano@mlsrc.com.ar; ishaw@mlsrc.com.ar 1. Insurance intermediation activities 1.1 Is the distribution of insurance products
More informationHow to establish a business in Germany
How to establish a business in Germany Andreas Seidel seidel@butzel.com BUTZEL LONG A PROFESSIONAL CORPORATION 150 WEST JEFFERSON, SUITE 100 DETROIT, MI 48226 TEL: 313 225 7000 I FAX: 313 225 7080 www.butzel.com
More informationFACTORING LAW I. BASIC PROVISIONS II. DEFINITIONS
FACTORING LAW I. BASIC PROVISIONS Article 1 This Law governs the concept and subjects of factoring; parties to factoring; conditions and manner of providing factoring services; types of factoring; rights
More informationFinancial Services and Markets - Regulation No 397/2000 on electronic registration of securities in a central securities depository.
This is an English translation. The original Icelandic text, as published in the Law Gazette (Stjórnartíðindi), is the authoritative text. Should there be discrepancy between this translation and the authoritative
More informationRequirements set for account holders and representatives of emissions trading accounts
Record no. 954/302/2010 13 February 2015 Requirements set for account holders and representatives of emissions trading accounts These requirements are based on the Commission s Registry Regulation 1. The
More informationINTRODUCTION... 3 OVERSEA COMPANIES... 9
Mdina Malta INTRODUCTION... 3 FORMATION AND REGISTRATION OF COMPANIES... 4 PRIVATE OR PUBLIC COMPANY... 4 MEMORANDUM AND ARTICLES OF ASSOCIATION... 4 WHO MAY INCORPORATE... 5 TIME REQUIRED FOR INCORPORATION...
More informationCIVIL CODE OF AZERBAIJAN. (unofficial translation)
CIVIL CODE OF AZERBAIJAN (unofficial translation) Article 87. Limited Liability Company 87.1. A limited liability company means company established by one or more persons (natural persons and (or) legal
More informationLegal Guide to Forming a Corporation in Luxembourg
Legal Guide to Forming a Corporation in Luxembourg March 2008 Business in the Grand-Duchy of Luxembourg (the GDL ) may be carried out by individual trader(s) or by way of forming a corporate entity, whereby
More informationInstructions for expatriate Finns
Instructions for expatriate Finns Information about the address and personal circumstances of Finnish nationals residing abroad only stay up to date if they report any changes in such information to the
More informationMinistry of Labour and Social Policy LAW ON VOLUNTARY FULLY FUNDED PENSION INSURANCE (189347.11)
Ministry of Labour and Social Policy LAW ON VOLUNTARY FULLY FUNDED PENSION INSURANCE 1 Table of Contents CHAPTER 1 GENERAL PROVISIONS... 3 CHAPTER 2 VOLUNTARY PENSION FUNDS... 7 CHAPTER 3 PENSION COMPANIES
More informationTrust and Loan Companies Act
Finance and Treasury Board TH 4. Flr. Bus: 902 424-6331 1723 Hollis Street Fax: 902 424-1298 PO Box 2271 E-mail: Halifax, NS B3J 3C8 Financial Institutions Section Our File #: License No. OFFICE USE ONLY
More informationwww.ag.ch/steuern 1 of 10
Date of issue 1 st January 2011 DEPARTMENT OF FINANCE AND RESOURCES Cantonal Tax Administration Modifications Valid as of 2007 LEAFLET Contents 1. Holding Companies...2 1.1 Legal Bases...2 1.2 General...2
More informationForeign Representative Offices in Romania
Foreign Representative Offices in Romania GUIDE FOR THE ORGANISATION AND FUNCTIONING OF FOREIGN REPRESENTATIVE OFFICES IN ROMANIA Although the legal status of representative offices of foreign commercial
More informationAct of Law 424/1991 Coll., on association in political parties and political movements
Source: http://www.psp.cz/docs/laws/1991/en/424.html (accessed: April 2009) Act of Law 424/1991 Coll., on association in political parties and political movements Act of Law No. 424/1991 Coll., of October
More informationCOVER PAGE. Claim for the refund, exemption or application of the reduced tax rate on income paid to non-residents
COVER PAGE Claim for the refund, exemption or application of the reduced tax rate on income paid to non-residents Conventions for the avoidance of double taxation dividends (FORM A) interest (FORM B) royalties
More informationEstonie Loi sur la signature électronique Entrée en vigueur le 15 décembre 2000
Estonie Loi sur la signature électronique Entrée en vigueur le 15 décembre 2000 Estonia - Digital Signatures Act Passed 8 March 2000 (RT I 2000, 26, 150), entered into force 15 December 2000. Chapter I
More informationThe Immigration (European Economic Area) Regulations 2006
STATUTORY INSTRUMENTS 2006 No. 1003 IMMIGRATION The Immigration (European Economic Area) Regulations 2006 Made - - - - - 30th March 2006 Laid before Parliament 4th April 2006 Coming into force - - 30th
More informationSince 1833. Limited Liability Partnerships ( LLP ) Account Opening Form
Since 1833 Limited Liability Partnerships ( LLP ) Account Opening Form Account Opening Requirements Identification (For all partners) Our requirements can vary depending on the nature of your account so
More informationGRTGAZ NETWORK TRANSMISSION CONTRACT
Page 1 of 9 GRTGAZ NETWORK TRANSMISSION CONTRACT APPENDIX A3 STANDARD EVIDENCE AGREEMENT English translation for information. Disclaimer The present translation is not binding and is provided by GRTgaz
More informationCONTENT OF THE AUDIT LAW
CONTENT OF THE AUDIT LAW I. GENERAL PROVISIONS Article 1 This Law shall regulate the conditions for conducting an audit of legal entities which perform activities, seated in the Republic of Macedonia.
More informationCYPRUS TAX CONSIDERATIONS
TAXATION The following summary of material Cyprus, US federal income and United Kingdom tax consequences of ownership of the GDRs is based upon laws, regulations, decrees, rulings, income tax conventions
More informationREPUBLIC OF BULGARIA NATIONAL ASSEMBLY TAX PROCEDURE ACT. Promulgated State Gazette No. 61/16.07.1993. Amended SG No. 20/1996.
REPUBLIC OF BULGARIA NATIONAL ASSEMBLY TAX PROCEDURE ACT Promulgated State Gazette No. 61/16.07.1993 Amended SG No. 20/1996 Chapter One GENERAL PROVISIONS Article 1 This Act shall regulate the tax registration
More informationCircular on. of Identity for Credit Institutions
Circular on Identification and Verification of Identity for Credit Institutions Table of contents 1. Introduction... 4 2. Purpose of identification obligations... 6 3. Explanation of terms... 6 3.1. Identification...
More informationGerman Tax Facts. The Expatriate Financial Guide to Germany
The Expatriate Financial Guide to Germany German Tax Facts Introduction Tax Year Assessment Basis Income Tax Taxation in Germany occurs at a national and municipal level. The Ministry of Finance controls
More informationPLANT VARIETIES PROTECTION ACT (CHAPTER 232A, SECTION 54) PLANT VARIETIES PROTECTION RULES
CAP. 232A, R 1] Plant Varieties Protection Rules [2006 Ed. p. 1 PLANT VARIETIES PROTECTION ACT (CHAPTER 232A, SECTION 54) PLANT VARIETIES PROTECTION RULES Rule 1. Citation 2. Definitions 3. Fees 4. Forms
More informationJebel Ali Offshore Companies (JAOC) FAQ
Jebel Ali Offshore Companies (JAOC) FAQ 1. What Share Capital is required? The Law does not require a specific amount nor does it provide a standard share capital. Generally an amount of Dhs 10.000, -
More informationIn practice, foreigners usually establish LLCs. Partnerships and joint stock companies are only established in exceptional cases.
Company Laws The Companies Law is the principal body of legislation governing companies. Saudi company law recognizes eight forms of companies. The most common forms are limited liability companies (LLC),
More informationELECTRONIC COMMERCE AND ELECTRONIC SIGNATURE ACT (ZEPEP-UPB1) (Official consolidated text)
ELECTRONIC COMMERCE AND ELECTRONIC SIGNATURE ACT (ZEPEP-UPB1) (Official consolidated text) On basis of article 153 of the National Assembly of Slovenia Rules of Procedure the National Assembly of the Republic
More informationRTI Statement for New Starters Please tick the relevant box below:
EXTERNAL ID Application to become a HYDRA PAYE Operative First Name: Address: Middle Name(s): Surname: Date of Birth: Town: N.I Number: Postcode: Nationality: Mobile Number: Email: Bank Details Bank Name
More informationDISCLAIMER. Any fact, assessment, analysis, forecasts, opinion and other information (collectively Information ) released by:
DISCLAIMER General This website can be accessed worldwide however the information on the website is related to Saxo Capital Markets CY Limited and is not specific to any other country. All clients will
More informationA 2014 REVOLUTION IN CIVIL LAW: PART 3 WHAT WILL CHANGE FOR JOINT-STOCK COMPANIES?
NEWS ALERT 10/2013. Do you know what changes will come into effect with the Act on Business Corporations ( ABC ) and the New Civil Code ( NCC ) from 1 January 2014? Our August News Alert presented major
More informationAct on the Supervision of Credit Institutions, Insurance Companies and Securities Trading etc. (Financial Supervision Act)
KREDITTILSYNET Norway Translation updated August 2003 Translated by Government Authorised Translator Peter Thomas This translation is for information purposes only. Legal authenticity remains with the
More informationGeneral terms and conditions. I. Area of Application
General terms and conditions for RUR HOTELBETRIEBS- GmBh I. Area of Application 1. These terms and conditions shall apply to all contracts relating to the rental of hotel rooms for purposes of lodging,
More informationRULES OF THE ALTERNATIVE DOMAIN NAME DISPUTE RESOLUTION PROCEDURE FOR.SI TOP-LEVEL DOMAINS (ARDS Rules)
RULES OF THE ALTERNATIVE DOMAIN NAME DISPUTE RESOLUTION PROCEDURE FOR.SI TOP-LEVEL DOMAINS (ARDS Rules) Preamble Version 1.1 1. The ARDS Rules form part of the General terms and conditions for registration
More informationGUIDANCE NOTE DECISION-MAKING PROCESS
GUIDANCE NOTE DECISION-MAKING PROCESS This document is intended as a general guide to the way in which the Jersey Financial Services Commission (the Commission ), normally approaches the exercise of its
More information1.1 Self-employed professionals taxable income
Recepção Web version Update preferences Unsubscribe TABLE OF CONTENTS 1. PERSONAL INCOME TAX 1.1 Self-employed professionals taxable income 1.2 Per diem allowances 1.3 Rates, additional solidarity rate
More informationHow we work (Terms of Business)
How we work (Terms of Business) Who we are Care and Choice Limited (the Agency or we, our or us ) is an introduction agency that connects individuals seeking care services ( Client or you or your ) and
More informationABA Section of International Law 2006 Spring Meeting 5 8 April 2006, New York
ABA Section of International Law 2006 Spring Meeting 5 8 April 2006, New York CROSS-BORDER EMPLOYMENT AND GLOBAL MOBILITY ISSUES IN EUROPE AND LATIN AMERICA: A CLOSER LOOK AT INTERNATIONAL ASSIGNMENTS
More informationCHAPTER 1. GENERAL PROVISIONS
UNOFFICIAL TRANSLATION Adopted on 22.12.2010 LAW OF THE REPUBLIC OF ARMENIA ON FUNDED PENSIONS CHAPTER 1. GENERAL PROVISIONS The purpose of this Law is to establish opportunities for receiving pension
More informationContracted representation powers of attorney
Contracted representation powers of attorney Anyone, be it a natural or legal person, when of full legal capacity, is eligible to gain rights and undertake obligations for itself through its own legal
More informationTHE DUALIST SYSTEM FOR THE ADMINISTRATION OF JOINT STOCK COMPANIES
THE DUALIST SYSTEM FOR THE ADMINISTRATION OF JOINT STOCK COMPANIES Lect. univ. dr. Iuliana-Maria CEBUC Asist. univ. drd. Andreea CRĂCIUN "Constantin Brâncoveanu" University - Piteşti Faculty of Management
More informationGUIDE TO INCORPORATING COMPANIES
GUIDE TO INCORPORATING COMPANIES IRELAND CURRENCY Euro ( ). EXCHANGE CONTROL There is no exchange control in Ireland. There are, however, certain other restrictions which should be noted. Pursuant to the
More informationContractor s liability and tax number in the construction sector
Contractor s liability and tax number in the construction sector 2 Introduction This guide provides information on the contractor s obligation to check and the tax number used at construction sites. Construction-related
More informationInsurance Tax Act 1. Section 1 Tax basis
Insurance Tax Act 1 Date of signature: 8 April 1922 Full citation: Insurance Tax Act as published on 10 January 1996 (Federal Law Gazette I, p. 22), most recently amended by Article 1 of the Act of 5 December
More informationLicensing Information Booklet
SECURITIES AND FUTURES COMMISSION Licensing Information Booklet 發 牌 資 料 冊 Hong Kong August 2003 香 港 2003 年 8 月 Table of Contents Important note 1 Part 1 Introduction 3 Part 2 Types of regulated activity
More informationGuidelines to the application form Admission of companies to Exchange trading
Guidelines to the application form Admission of companies to Exchange trading Preliminary remarks According to section 19 (1) of the German Exchange Act (Börsengesetz, BörsG), section 12 of the Exchange
More informationBUSINESS RULES RELATING TO INVESTMENT AND ANCILLARY INVESTMENT SERVICE (consolidated with amendments)
ERSTE BANK HUNGARY ZÁRTKÖRŰEN MŰKÖDŐ RÉSZVÉNYTÁRSASÁG BUSINESS RULES RELATING TO INVESTMENT AND ANCILLARY INVESTMENT SERVICE (consolidated with amendments) These Business Rules entered into force on: 2
More informationGerman and Canadian Company Law An Overview
German and Canadian Company Law An Overview By Eric P. Polten Lawyer and Notary Public Robert A. Rastorp, Lawyer and Notary Public Mark Herwartz, Legal Assistant, 2009 Sebastian Homeier, Referendar, 2009
More informationInvestment Accounts Instructions
Investment Accounts Instructions 1 KINGDOM OF SAUDI ARABIA Capital Market Authority Investment Accounts Instructions English Translation of the Official Arabic Text Issued by the Board of the Capital Market
More information957.1. Federal Act. Intermediated securities. (Federal Intermediated Securities Act, FISA) Chapter 1: Purpose, Scope and Definitions
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force. Federal Act on Intermediated Securities (Federal Intermediated
More informationDIFC Limited Liability Partnership Regulations (LLR)
DIFC Limited Liability Partnership Regulations (LLR) Contents The contents of this module are divided into the following chapters, sections and appendices: 1 INTRODUCTION...1 1.1 Application and interpretation...1
More informationJoint report. of the Board of Management of Deutsche Telekom AG. and. the Board of Directors of T-Systems International GmbH
Joint report of the Board of Management of Deutsche Telekom AG and the Board of Directors of T-Systems International GmbH pursuant to 293a in conjunction with 295 (1) of the Stock Corporation Act (Aktiengesetz
More informationNOBLE TRUST COMPANY LTD. GENERAL TERMS OF BUSINESS. The following definitions and rules of interpretation shall apply:
NOBLE TRUST COMPANY LTD. GENERAL TERMS OF BUSINESS 1. Definitions and interpretation The following definitions and rules of interpretation shall apply: 1.1 Agent means any person appointed by a Client
More informationTURKISH CITIZENSHIP LAW
Official Gazette Publication Date and No: 12/6/2009 27256 TURKISH CITIZENSHIP LAW Law No: 5901 Adoption Date: 29/5/2009 PART ONE Objective, Scope, Definitions and the Implementation of Citizenship Services
More informationMail Collect TM application form
Mail Collect TM application form To apply for our Mail Collect, please print and fill in this form and send it to the following address: Royal Mail, Mail Collect Team, PO Box 740, Dearne, S73 OUF. Please
More informationCHAPTER I I. Formation of a limited liability company CHAPTER I. GENERAL PROVISIONS
Law of the Republic of Kazakhstan dated April 22, 1998 220-I On limited liability companies and additional liability companies (with alterations and amendments as of 29.12.2014) CHAPTER I. General provisions
More informationRULES. The Central Securities Depository of Poland (KDPW) CHAPTER I GENERAL PROVISIONS
rules_ of The Central Securities Depository of Poland (KDPW) Valid as of 3 February, 2014 RULES Of The Central Securities Depository of Poland (KDPW) CHAPTER I GENERAL PROVISIONS 1 1. The Rules of the
More information1.1 Description of the Legal Entities Stated in the Turkish Commercial Code
Legal Guide to Forming a Corporation in Turkey 1. TYPES OF BUSINESS ORGANIZATIONS In Turkey, one of the two options may be adopted in order to carry out business activities; as individuals engaged in commercial
More informationCAYMAN ISLANDS. Supplement No. 1 published with Gazette No. 22 of 22nd October, 2012. MUTUAL FUNDS LAW (2012 REVISION)
CAYMAN ISLANDS Supplement No. 1 published with Gazette No. 22 of 22nd October, 2012. MUTUAL FUNDS LAW (2012 REVISION) Law 13 of 1993 consolidated with Laws 18 of 1993, 16 of 1996 (part), 9 of 1998, 4 of
More informationSafely Purchasing a House in Spain
Safely Purchasing a House in Spain Together with the Association of Spanish Property and Commercial Registrars, the Ministry of Public Works, Transport and Housing has drawn up a brief, simple guide outlining
More informationCLSA ASIA-PACIFIC SECURITIES DEALING SERVICES: AUSTRALIA MARKET ANNEX
CLSA ASIA-PACIFIC SECURITIES DEALING SERVICES: AUSTRALIA MARKET ANNEX IMPORTANT NOTICE CLSA Singapore Pte Ltd (ARBN 125 288 271, a company incorporated in Singapore) is permitted to provide certain financial
More informationGuidance and Application
Guidance and Application for trading at the New Smithfield Wholesale Market If you want to occupy a trading space at the New Smithfield Wholesale Market (including where you already occupy a regular space
More informationAPPLICATION FOR BUSINESS LICENSE INCLUDING SALES AND USE TAX AND OCCUPATIONAL PRIVILEGE TAX REGISTRATION
City of Aurora Tax and Licensing 15151 E. Alameda Parkway, Suite 1100 Aurora, CO 80012 (303) 739-7057 www.auroragov.org REGISTRATION/LICENSE FEE: $49.25 PAYABLE TO CITY OF AURORA Special licenses may require
More informationSpanish Tax Facts. The Expatriate Financial Guide to Spain
The Expatriate Financial Guide to Spain Spanish Tax Facts Introduction Tax Year Assessment Basis Taxation in Spain occurs at a national level and at a regional ( Autonomous Community ) or municipal level.
More informationQualified Electronic Signatures Act (SFS 2000:832)
Qualified Electronic Signatures Act (SFS 2000:832) The following is hereby enacted 1 Introductory provision 1 The purpose of this Act is to facilitate the use of electronic signatures, through provisions
More informationAct on Insurance. The National Council of the Slovak Republic has adopted the following Act: SECTION I PART ONE GENERAL PROVISIONS
Act on Insurance Full wording of Act No 8/2008 Coll. of 28 November 2007 on Insurance and on amendments and supplements to certain laws, as amended by Act No 270/2008 Coll., Act No 552/2008 Coll., Act
More informationCompany Formation in Turkey
Company Formation in Turkey At Ketenci&Ketenci we regularly assist foreign corporations and investors to form new companies and branches in Turkey. Thanks to the Turkish Direct Foreign Investment regulation;
More informationApplication to incorporate a company Section 3 and 3A (inserted by section 101 Company Law Enforcement Act 2001) Companies (Amendment) Act 1982 Section 5 Companies (Amendment) Act 1983 European Communities
More informationLAW ON PLEDGE OF MOVABLE ASSETS REGISTERED IN THE PLEDGE REGISTRY I. GENERAL PROVISIONS
LAW ON PLEDGE OF MOVABLE ASSETS REGISTERED IN THE PLEDGE REGISTRY (Published in the Official Gazette of the Republic of Serbia No. 57/03, 61/05, 64/06) I. GENERAL PROVISIONS Subject Matter of the Law Art.
More informationGuide to Establishing a Business in Denmark
Guide to Establishing a Business in Denmark www.investindk.com Contents Introduction: Establishing a Business in Denmark... 2 Key Facts About Setting up a Business in Denmark... 2 Business Activities in
More information.RUHR Domain Name Registration Policy
These registration conditions govern the rights and obligations of regiodot GmbH & Co. KG ("the registry") and the accredited registrars ("the registrars") and each party ("registrants") registering a
More information424/1991 Official Gazette. THE LAW on association within political parties and political movements of October 2 nd 1991
Copyrighted translation. Please cite: www.partylaw.leidenuniv.nl Source: http://www.nssoud.cz/zakony/424_1991.pdf (Accessed: August 2012) ASPI System status on 22.01.2012 up to chapter 8/2012 of the Official
More informationGeneral Terms and Conditions for Ship Brokers and Ship Agents in Germany
General Terms and Conditions for Ship Brokers and Ship Agents in Germany These General Terms and Conditions apply for ARKON Shipping GmbH & Co. KG and ARKON Shipping & Projects GmbH & Co. KG Article 1
More informationREGULATIONS. on Working with Intermediaries. Fédération Internationale de Football Association
REGULATIONS on Working with Intermediaries Fédération Internationale de Football Association Fédération Internationale de Football Association President: Joseph S. Blatter Secretary General: Jérôme Valcke
More informationMOLDOVA LAW ON JOINT STOCK COMPANIES
MOLDOVA LAW ON JOINT STOCK COMPANIES Important Disclaimer This translation has been generously provided by the National Commission of Financial Market. This does not constitute an official translation
More informationStandard Terms for the Designation of a Registered Agent as Administrative Contact
Standard Terms for the Designation of a Registered Agent as Administrative Contact Preamble The Customer would like to sign a domain contract with Denic-Domain-Verwaltungsund Betriebsgesellschaft eg in
More informationMerchants and Trade - Act No 28/2001 on electronic signatures
This is an official translation. The original Icelandic text published in the Law Gazette is the authoritative text. Merchants and Trade - Act No 28/2001 on electronic signatures Chapter I Objectives and
More informationOF THE REPUBLIC OF ARMENIA ON LIMITED LIABILITY COMPANIES
LAW OF THE REPUBLIC OF ARMENIA Adopted on October 24, 2001 CHAPTER 1. GENERAL PROVISIONS Article 1. Scope of the Law This law regulates the legal relationships arising from establishment, activity, reorganization
More informationMexico. Rodolfo Trampe, Jorge Díaz, José Palomar and Carlos López. Von Wobeser y Sierra, S.C.
Mexico Rodolfo Trampe, Jorge Díaz, José Palomar and Carlos López Market overview 1 What kinds of outsourcing take place in your jurisdiction? In Mexico, a subcontracting regime (understood as the regime
More informationOnline Services Agreement. This License Agreement is entered into by and between
Online Services Agreement This License Agreement is entered into by and between 1 The International Monetary Fund (IMF), an international organization with headquarters at 700 19th Street, N.W. Washington,
More informationishares IV Public Limited Company
ishares IV Public Limited Company (An umbrella investment company with variable capital and having segregated liability between its Funds incorporated with limited liability in Ireland under registration
More informationGuidance Booklet Charity Incorporation Made Simple
Guidance Booklet Charity Incorporation Made Simple *berwin leighton paisner Contents What is an incorporated charity? 1 What are the key features of an incorporated charity? 2 What is an unincorporated
More informationCompany Incorporation Forms
Company Incorporation Forms Registered office: Leicester Court, Suite 2, Edgar Bernard Street, Gzira GZR 1702, Malta. Telephone: +356 2730 0045 Facsimile: +356 2730 0049 E-mail: info@avanzia.com.mt http://www.avanzia.com.mt
More informationLegal Matters - Conditions of Contract Law
Rechtsanwaltskanzlei LIKAR GmbH, FN 318414g Pestalozzistraße 1/II/13, A-8010 Graz Tel. +43 (0) 316 823 723 Fax +43 (0) 316 823 723-13 office@anwaltskanzlei-likar.at www.anwaltskanzlei-likar.at General
More informationEPFL CONSTITUTION EPFL GENERAL ASSEMBLY Madrid, 14 November 2007
EPFL CONSTITUTION EPFL GENERAL ASSEMBLY Madrid, 14 November 2007 ASSOCIATION OF EUROPEAN PROFESSIONAL FOOTBALL LEAGUES Association Switzerland CONSTITUTION 2 Index 1. Statutes 2. Annex 1 - List of EPFL
More informationLAW. ON ELECTRONIC SIGNATURE (Official Gazette of the Republic of Montenegro 55/03 and 31/05)
LAW ON ELECTRONIC SIGNATURE (Official Gazette of the Republic of Montenegro 55/03 and 31/05) I GENERAL PROVISIONS Article 1 This Law shall regulate the use of electronic signature in legal transactions,
More informationACT. of 15 March 2002
215 ACT of 15 March 2002 on electronic signature and on the amendment and supplementing of certain acts as amended by Act No. 679/2004 Coll., Act No. 25/2006 Coll., Act No. 275/2006 Coll., Act No. 214/2008
More informationCyprus International Trusts
Cyprus International Trusts Cyprus International Trusts qualification criteria The International Trusts Law of 1992 complements the Trustee Law which is based on the English Trustee Act 1925. Under section
More informationCHAPTER 318C SMALL BUSINESS DEVELOPMENT
1 L.R.O. 2002 Small Business Development CAP. 318C CHAPTER 318C SMALL BUSINESS DEVELOPMENT ARRANGEMENT OF SECTIONS SECTION 1. Short title. 2. Definitions. 3. Small business. 4. Approved small business
More informationConvenience Translation the German version is the only legally binding version. Articles of Association. Linde Aktiengesellschaft.
Convenience Translation the German version is the only legally binding version Articles of Association Linde Aktiengesellschaft Munich 9 March 2015 Page 1 of 12 I. General Rules 1. Company Name, Principal
More informationImplementing Regulations under the Benelux Convention on Intellectual Property (Trademarks and Designs) *
Implementing Regulations under the Benelux Convention on Intellectual Property (Trademarks and Designs) * The Executive Board of the Benelux Trademark Office and the Executive Board of the Benelux Designs
More information(Vacant premises; Non-nationals/Franchise deals)
(Vacant premises; Non-nationals/Franchise deals) Are you a Sole Proprietor/ Partnership/ Trust? Only if yes, complete the attached Questionnaire. YES NO Are you a Company or Close Corporation and is your
More information