Establishing a New Branch in Berlin
|
|
- Ferdinand Sims
- 6 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: Bianca Knuth-Zardin bianca.knuth-zardin@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 5
6 business premises are located. When registering your business, you must present the following documents to the Trade Licensing Office (Gewerbeamt): 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: 6
7 a certificate of competence for those handling poisons and pesticides or involved in the retail sale of over-the-counter medication 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 7
8 be treated in a way similar to that applicable to the establishment of head offices in Germany. In practice, this means that: 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- 8
9 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 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
SETTING UP BUSINESS IN GERMANY
www.antea-int.com SETTING UP BUSINESS IN GERMANY 1 General Aspects Germany is situated in the heart of Europe, bordering nine other countries. As it is part of the euro zone, its monetary unit is the Euro.
More informationLegitimation, details of beneficial owner and clarification of PEP status
Legitimation, details of beneficial owner and clarification of PEP status Please complete and return by post to: Alphabet Fuhrparkmanagement GmbH, Konrad-Zuse-Straße 1, 85716 Unterschleißheim Private companies
More informationHow to Guide: Setting-up Business in Germany. Introduction. Entry. Set-up. Contact
How to Guide: Setting-up Business in Germany (!,!"!!!! " # $ " % $ $ &! "! '! ( " $ )$ " ( "! *#! $ +$,!! " - $!. " / 0#1+2.).3.4.) (-#1+2.).3.4..5# 6..! $ $..! $ 7(/ #!" " $% Entrance Visa Residency Permit
More informationPseudo self-employment / Employee-like self-employment
This document can be found at www.ihk-berlin.de under doc. no. 4172368 Pseudo self-employment / Employee-like self-employment When a trader starts their business, they should always ensure that they are
More informationStarting Business in Slovakia for Migrants
Starting Business in Slovakia for Migrants (a guide to the basic administrative steps to commence business) Information material for entrepreneurs 1 SBA, Bratislava, 2015 All rights reserved. Data contained
More informationTax & Legal Framework in Germany
Chris Schmidt - istockphoto Tax & Legal Framework in Germany Heiko Stumpf Manager Tax & Legal Services Germany Trade & Invest Overview I. Germany as Business Location for Korean Companies II. Company Forms
More informationDOING BUSINESS IN GERMANY. California, March 2011
DOING BUSINESS IN GERMANY California, March 2011 Corporate Law 3 Choosing the Legal Form (I) Choice of several forms of business: representative office, small and large partnerships, or corporations, such
More informationSTEPS FOR SETTING UP A BUSINESS/ BUSINESS START-UP GLOSSARY (Schritte der Betriebsgründung/Glossar Unternehmensgründung Englisch) January 2018
STEPS FOR SETTING UP A BUSINESS/ BUSINESS START-UP GLOSSARY (Schritte der Betriebsgründung/Glossar Unternehmensgründung Englisch) January 2018 STEPS FOR SETTING UP A BUSINESS Seven steps for founding your
More informationNotifying Unqualified Trade for Legal Entities Not Residing in the Czech Republic, EU, EEA and Switzerland (Foreign Legal Entity)
Notifying Unqualified Trade for Legal Entities Not Residing in the Czech Republic, EU, EEA and Switzerland (Foreign Legal Entity) As provided for in section 2 of the Trade Licensing Act, the trade is a
More informationTerms and conditions of sale and delivery of the Elastic-Berger GmbH & Co. KG
Terms and conditions of sale and delivery of the Elastic-Berger GmbH & Co. KG 1 General field of application (1) Our terms and conditions of sale and delivery exclusively apply to all our deliveries and
More informationProof of identity, details of beneficial owners and clarification of PEP status
Proof of identity, details of beneficial owners and clarification of PEP status Partnerships and legal entities Customer: Please complete, sign and return by post to: Alphabet Fuhrparkmanagement GmbH,
More informationORAFOL Europe GmbH General Terms and Conditions for Sale and Delivery. As at January 2019
ORAFOL Europe GmbH General Terms and Conditions for Sale and Delivery As at January 2019 I. General terms and validity 1. These general terms and conditions for sale and delivery (hereinafter referred
More informationVAT in the European Community APPLICATION IN THE MEMBER STATES, FACTS FOR USE BY ADMINISTRATIONS/TRADERS INFORMATION NETWORKS ETC.
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration VAT and other turnover taxes Brussels, October 2010 TAXUD/C/1 VAT in the European Community APPLICATION
More informationSetting up business in... Montenegro
Setting up business in... Montenegro General Aspects The Republic of Montenegro is situated in South Eastern Europe, on the Balkan Peninsula with total 13.812 km 2. Its capital and largest city is Podgorica,
More informationPRODUCT BUSINESS TERMS AND CONDITIONS FOR TRADING IN DOMESTIC SECURITIES
PRODUCT BUSINESS TERMS AND CONDITIONS FOR TRADING IN DOMESTIC SECURITIES (hereinafter referred to as the Product Business Terms and Conditions ) UniCredit Bank Czech Republic and Slovakia, a.s. 1. DEFINITION
More informationAGREEMENT BETWEEN THE GOVERNMENT OF CANADA AND THE GOVERNMENT OF THE BRITISH VIRGIN ISLANDS UNDER
AGREEMENT BETWEEN THE GOVERNMENT OF CANADA AND THE GOVERNMENT OF THE BRITISH VIRGIN ISLANDS UNDER ENTRUSTMENT FROM THE GOVERNMENT OF THE UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND FOR THE EXCHANGE
More informationEnBW Energie Baden-Württemberg AG Karlsruhe. Invitation to the annual general meeting
EnBW Energie Baden-Württemberg AG Karlsruhe ISIN DE0005220008 (WKN 522 000) Invitation to the annual general meeting We hereby invite our shareholders to our annual general meeting on Thursday, 25 April
More informationFICA VERIFICATION CHECK LIST
Table of Contents: FICA VERIFICATION CHECK LIST PRIVATE CLIENTS... 1 RSA CITIZENS & RESIDENTS (Natural Persons, including Sole Proprietors and temporary residents with permits)... 1 FOREIGN NATIONALS (non
More informationGuidelines on how to apply for registration of change of owner of aircraft
Guidelines on how to apply for registration of change of owner of aircraft General An aircraft may only operate in Denmark if it is registered either in Denmark or in another state. The civil aviation
More information2. For Private Entrepreneurs, Individuals Assigned TIN under Armenian Legislation and Notaries
List of Documents Required for Opening Bank Account, Making a Deposit, Receiving a Card or Renting a Safe Deposit Box in Ameriabank CJSC (hereinafter Bank ) 1 1. For Individuals Identity document (ID)
More informationJoint Report. of the management board of Rocket Internet SE, Berlin, and. of the management of GFC Global Founders Capital GmbH, Berlin,
Convenience Translation. The German language version shall prevail in the event of any dispute or ambiguity. Joint Report of the management board of Rocket Internet SE, Berlin, and of the management of
More informationLAW OF THE REPUBLIC OF ARMENIA ON PERSONIFIED RECORD KEEPING OF INCOME TAX AND MANDATORY FUNDED CONTRIBUTIONS
Adopted on 22.12.2010. LAW OF THE REPUBLIC OF ARMENIA ON PERSONIFIED RECORD KEEPING OF INCOME TAX AND MANDATORY FUNDED CONTRIBUTIONS Article 1. Subject of the Law This Law regulates relationships that
More informationPRODUCT BUSINESS TERMS AND CONDITIONS FOR TRADING IN DOMESTIC SECURITIES
PRODUCT BUSINESS TERMS AND CONDITIONS FOR TRADING IN DOMESTIC SECURITIES (hereinafter referred to as the Product Business Terms and Conditions ) UniCredit Bank Czech Republic and Slovakia, a.s. 1. DEFINITION
More informationAstana Financial Services Authority
Astana Financial Services Authority Application to Register a Foreign Limited Liability Partnership as a Recognised Limited Liability Partnership in the AIFC Name of applicant: Date of application: CONTENTS
More informationT H E D E P O S I T G U A R A N T E E S C H E M E A C T ( T H E Z S J V ) 1. GENERAL PROVISIONS. Article 1 (Subject matter of the Act)
LEGAL NOTICE All effort has been made to ensure the accuracy of the translation, which is based on the original Slovenian texts. All translations of this kind may, nevertheless, be subject to a certain
More information2. Parties to the Agreement The parties to the Agreement are DEUTZ AG and the Subsidiary.
Joint report of the Board of Management of DEUTZ AG and the senior management of Deutz Sicherheit Gesellschaft für Industrieservice mbh pursuant to section 293a German Stock Corporation Act (AktG) on the
More information1 Introduction Types of enterprises in Germany Formation of a dependent branch (plant location)... 4
Table of contents 1 Introduction... 4 2 Types of enterprises in Germany... 4 2.1 Formation of a dependent branch (plant location)... 4 2.2 Formation of an independent subsidiary... 4 2.3 Formation of a
More informationGeneral Terms and Conditions of Delivery and Payment
Seite 1 von 7 1. Scope These General Terms and Conditions apply to all our offers, contracts, deliveries and other services (hereinafter delivery ), including all future business relations, even if not
More informationDoing business in. Germany
European Regional Meeting - Lucerne / Switzerland Doing business in Germany Denis Schultheis UP12 Rechtsanwälte 09.15 09.35 Doing business in Germany Index Specific Regulations Laws Business Structures:
More informationAdopted by the State Duma on July 13, 2001 Approved by the Federation Council on July 20, Chapter I. General Provisions
FEDERAL LAW NO. 129-FZ OF AUGUST 8, 2001 ON THE STATE REGISTRATION OF LEGAL ENTITIES AND INDIVIDUAL BUSINESSMEN (with the Amendments and Additions of June 23, December 8, 23, 2003, November 2, 2004, July
More informationGuidance on Identity and Address Verification. for Hong Kong Introducers
Guidance on Identity and Address Verification for Hong Kong Introducers Verification of identity and address For Advisers Only. Not for use with customers Friends Provident International Limited ( FPIL
More informationSetting up your Business in Germany Issues to consider
Germany is a federal parliamentary republic in western-central Europe. Germany is the largest consumer market in the European Union with a population of over 81 million. Germany is the world's fourth-largest
More informationTERMS AND CONDITIONS 2. CONCLUSION OF CONTRACT, CONTRACT PARTNER; STATUTE OF LIMITATIONS
TERMS AND CONDITIONS 1. AREA OF APPLICATION a. These Terms and Conditions apply to all contracts governing the rental of hotel and hostel rooms for accommodation, as well as to any further services and
More informationPRODUCT BUSINESS TERMS AND CONDITIONS FOR TRADING IN FOREIGN SECURITIES, THEIR CUSTODY AND/OR DEPOSIT
PRODUCT BUSINESS TERMS AND CONDITIONS FOR TRADING IN FOREIGN SECURITIES, THEIR CUSTODY AND/OR DEPOSIT (hereinafter referred to as the Product Business Terms and Conditions ) UniCredit Bank Czech Republic
More informationGeneral Delivery Terms and Conditions of AUDIA AKUSTIK GMBH
General Delivery Terms and Conditions of AUDIA AKUSTIK GMBH Section 1 General Provisions 1. These delivery terms and conditions apply to all deliveries and services of AUDIA AKUSTIK GMBH (AUDIA). General
More informationArbitration Act of Angola Republic of Angola (Angola - République d'angola)
Arbitration Act of Angola Republic of Angola (Angola - République d'angola) VOLUNTARY ARBITRATION LAW (Law no. 16/03 of 25 July 2003) CHAPTER I THE ARBITRATION AGREEMENT ARTICLE 1 (The Arbitration Agreement)
More informationAct No.161/2002, on Financial Undertakings
Act No. 161/2002 on Financial Undertakings CHAPTER I Scope Article 1 This Act shall apply to Icelandic financial undertakings and to the activities of foreign financial undertakings in Iceland. For the
More informationHungary - Singapore Income Tax Treaty (1997)
Hungary - Singapore Income Tax Treaty (1997) Status: In Force Conclusion Date: 17 April 1997. Entry into Force: 18 December 1998. Effective Date: 1 January 1999 (see Article 29). AGREEMENT BETWEEN THE
More informationBANKING LAW OF REPUBLIKA SRPSKA CHAPTER I GENERAL PROVISIONS. Subject of the Law. Article 1
BANKING LAW OF REPUBLIKA SRPSKA CHAPTER I GENERAL PROVISIONS Subject of the Law Article 1 This Law shall regulate the establishment, operation, management, supervision, restructuring and closing of banks
More informationQuestionnaire. Company Hand Over In Checklist. To be completed, signed and returned before the incorporation of the company 1.
Questionnaire Company Hand Over In Checklist To be completed, signed and returned before the incorporation of the company 1. 1 Name 2 2 Country in which the company will be registered. 3 Registered Office:
More informationUnion Registry. Aircraft Operator Holding Account (AOHA) Application Guidance Notes
Union Registry Aircraft Operator Holding Account (AOHA) Application Guidance Notes This document does not purport to be and should not be considered a legal interpretation of the provisions and requirements
More informationGENERAL TERMS AND CONDITIONS
Raiffeisen Centrobank AG GENERAL TERMS AND CONDITIONS Version 2016 I. GENERAL PROVISIONS 1. BASIC RULES FOR BUSINESS RELATIONS BETWEEN CUSTOMER AND BANK A. Scope of application of and changes to these
More informationFinanzamt für Körperschaften III in Berlin v Krankenheim Ruhesitz am Wannsee- Seniorenheimstatt GmbH
EC Court of Justice, 23 October 2008 * Case C-157/07 Finanzamt für Körperschaften III in Berlin v Krankenheim Ruhesitz am Wannsee- Seniorenheimstatt GmbH Fourth Chamber: K. Lenaerts, President of the Chamber,
More informationDECREE-LAW NR. 352-A/88 of October 3
DECREE-LAW NR. 352-A/88 of October 3 The legislation that created the Madeira Free Trade Zone, authorized, within its institutional scope, the development of industrial, commercial and financial activities
More informationRULES. Krajowy Depozyt Papierów Wartościowych (KDPW) CHAPTER I GENERAL PROVISIONS
rules_ of Krajowy Depozyt Papierów Wartościowych (KDPW) Valid as of 1 January 2018 RULES Of Krajowy Depozyt Papierów Wartościowych (KDPW) CHAPTER I GENERAL PROVISIONS 1 1. The Rules of Krajowy Depozyt
More informationChapter I. General Provisions
Federal Law No. 76-FZ of June 23, 2003 amended the present Federal Law. The amendments shall enter into force from January 1, 2004 See text of the Federal Law in the previous wording FEDERAL LAW ON THE
More informationA) Residence permit in case of strategic investments
Greek Law 4146/2013 Creation of a Development Friendly Environment for Strategic and Private Investments Article 6, Staying Permits for non-eu Citizens Page 1 The new law introduces new types of staying
More informationAGREEMENT BETWEEN THE TAIPEI REPRESENTATIVE OFFICE IN BELGIUM AND THE BELGIAN TRADE ASSOCIATION IN TAIPEI FOR THE AVOIDANCE OF DOUBLE TAXATION AND
AGREEMENT BETWEEN THE TAIPEI REPRESENTATIVE OFFICE IN BELGIUM AND THE BELGIAN TRADE ASSOCIATION IN TAIPEI FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES
More informationINITIAL APPLICATION FORM ALTRINSIC GLOBAL EQUITIES TRUST INSTRUCTIONS TO COMPLETE
Responsible Entity: Antares Capital Partners Ltd ABN 85 066 081 114 AFSL 234483 A member of the NAB Group of companies INITIAL APPLICATION FORM ALTRINSIC GLOBAL EQUITIES TRUST INSTRUCTIONS TO COMPLETE
More informationOverview of legal forms
Overview of legal forms Legal basis Main purpose Legal nature Company name general barrier: prohibition of deception and public interest Sole proprietorship* General partnership* No separate regulation
More informationGENERAL TERMS AND CONDITIONS SPORT & CAREERS PROGRAMME
GENERAL TERMS AND CONDITIONS SPORT & CAREERS PROGRAMME 1 Area of Application The following terms and conditions govern the contractual relationship between Participants (hereinafter "Participants") in
More informationTax planning for Liechtenstein companies with permanent establishments in Switzerland. Present situation
Bulletin Nr. 23 January 2012 Allgemeines Treuunternehmen since 1929 Tax planning for Liechtenstein companies with permanent establishments in Switzerland Author lic. iur. Ralph Thiede Swiss Certified Tax
More informationA G R E E M E N T BETWEEN THE GOVERNMENT OF THE REPUBLIC OF MOLDOVA AND THE SWISS FEDERAL COUNCIL
A G R E E M E N T BETWEEN THE GOVERNMENT OF THE REPUBLIC OF MOLDOVA AND THE SWISS FEDERAL COUNCIL FOR THE AVOIDANCE OF DOUBLE TAXATION WITH RESPECT TO TAXES ON INCOME AND ON CAPITAL The Government of the
More informationUK Terms and Conditions fine trade gmbh
UK Terms and Conditions fine trade gmbh 1 GENERAL TERMS AND SCOPE. 1. These general terms and conditions ( T&Cs ) apply in connection with the business relationships between fine trade gmbh, a company
More informationAGREEMENT BETWEEN THE SWISS CONFEDERATION AND THE PEOPLE'S REPUBLIC OF BANGLADESH FOR THE AVOIDANCE OF DOUBLE TAXATION
AGREEMENT BETWEEN THE SWISS CONFEDERATION AND THE PEOPLE'S REPUBLIC OF BANGLADESH FOR THE AVOIDANCE OF DOUBLE TAXATION WITH RESPECT TO TAXES ON INCOME. THE SWISS FEDERAL COUNCIL AND THE GOVERNMENT OF THE
More informationFederal Act on Combating Money Laundering and Terrorist Financing
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 Combating Money Laundering and Terrorist
More informationTHE CENTRAL BANK OF CYPRUS LAWS OF 2002 TO (No.3) Unofficial translation of Directive issued by virtue of sections 16 and 36
THE CENTRAL BANK OF CYPRUS LAWS OF 2002 TO (No.3) 2014 Unofficial translation of Directive issued by virtue of sections 16 and 36 The translation of this Directive is not official. It has been prepared
More informationProof of identity and authority, details of the beneficial owner and clarification of PEP status
Please return the completed and signed form by post to: Alphabet Fuhrparkmanagement GmbH, Konrad-Zuse-Strasse 1, 85716 Unterschleissheim, Germany Proof of identity and authority, details of the beneficial
More informationTerms & Conditions. NIES electronic gmbh Edisonstraße Frankfurt Germany HRB Page 1 of 6
Terms & Conditions 1 General 1.1 These terms and conditions are subject to the laws of the Federal Republic of Germany. All legal transactions underlie the following terms and conditions. In contracts
More informationSETTING UP BUSINESS IN MONTENEGRO
www.antea-int.com SETTING UP BUSINESS IN MONTENEGRO 1 General Aspects The Republic of Montenegro is situated in South Eastern Europe, on the Balkan Peninsula with total 13.812 km 2. Its capital and largest
More informationYouth esaver Account Application (individuals under 10)
Credit Union Australia Limited ABN 44 087 650 959 AFSL and Australian credit licence 238317 GPO Box 100, Brisbane QLD 4001 P 133 282 W cua.com.au Youth esaver Account Application (individuals under 10)
More information(Banking Insolvency Ordinance, BIO-FINMA) of 30 August 2012 (Status as of 1 January 2015)
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force. Ordinance of the Swiss Financial Market Supervisory Authority
More informationAccounting for Interest and Penalties Related to Income Taxes under IFRSs
Exposure Draft of ASCG Interpretation (IFRS) No. 1 (ED ASCG Interpretation 1) Accounting for Interest and Penalties Related to Income Taxes under IFRSs Invitation to Comment All interested individuals
More informationADMIRAL MARKETS UK LTD PRIVACY POLICY
ADMIRAL MARKETS UK LTD PRIVACY POLICY Valid as of 2nd of December 2016 1. GENERAL PROVISIONS 1.1 Definitions used in the procedure: Client means any natural or legal person who has entered into client
More informationStatutes of. RUAG Holding AG (RUAG Holding SA) (RUAG Holding Ltd)
Statutes of RUAG Holding AG (RUAG Holding SA) (RUAG Holding Ltd) I. Company. Head Office, Duration, Purpose Art. 1 Company, Head Office. Duration The Company RUAG Holding AG (RUAG Holding SA) (RUAG Holding
More informationGeneral Terms and Conditions of Business of Renusol Europe GmbH (As at 12/04/2017)
General Terms and Conditions of Business of Renusol Europe GmbH (As at 12/04/2017) Clause 1 General Provisions Scope of Application 1. These General Terms and Conditions of Business (hereinafter referred
More informationTax & Legal News September 16, 2015 1 http://tax-news.pwc.de/german-tax-and-legal-news Statutes Cases Decrees Issue 5 September 16, 2015 Official Pronouncements Comprehensive car insurance for employees
More informationAre you ready for BREXIT? IHK checklist for companies
Are you ready for BREXIT? IHK checklist for companies English Translation provided by IHK checklist for companies: Are you ready for Brexit? 18 topics that companies should consider Contents Introduction...
More informationCyprus South Africa Tax Treaties
Cyprus South Africa Tax Treaties AGREEMENT OF 26 TH NOVEMBER, 1997 This is the Agreement between the Government of the Republic of Cyprus and the Government of the Republic of South Africa for the avoidance
More information4. Delivery times 4.1 Up until our acceptance of an order, details regarding delivery shall remain non-binding.
General Terms & Conditions of Sale & Delivery 1. General 1.1 The following terms and conditions apply to all our offers and deliveries and are an integral part of the purchase contract. We shall only be
More informationThese terms and conditions of business apply to end users ( customer or traveller ) in respect of all trips run by Lernidee Erlebnisreisen GmbH
Terms & Conditions These terms and conditions of business apply to end users ( customer or traveller ) in respect of all trips run by Lernidee Erlebnisreisen GmbH 1. Registration for journeys, booking
More informationUnemployment Insurance Act 1
Issuer: Riigikogu Type: act In force from: 14.05.2018 In force until: 19.01.2019 Translation published: 09.05.2018 Unemployment Insurance Act 1 Amended by the following acts Passed 13.06.2001 RT I 2001,
More informationARTICLE 1 DEFINITIONS
The Uniform Conditions for the Hotel and Catering Industry (UCHCI) are the terms and conditions on the basis of which hospitality businesses in the Netherlands, e.g. hotels, restaurants, cafes and related
More informationInvitation to the General Meeting
Invitation to the General Meeting Annual General Meeting of Uniper SE on 6 June 2018 Key financials of Uniper-Group 1) In m 2017 2016 +/ % Electricity sales (in bn kwh) 725.9 691.3 +5 Gas sales (in bn
More informationAGREEMENT BETWEEN THE GOVERNMENT OF THE KINGDOM OF THAILAND AND THE GOVERNMENT OF THE HONG KONG SPECIAL ADMINISTRATIVE
AGREEMENT BETWEEN THE GOVERNMENT OF THE KINGDOM OF THAILAND AND THE GOVERNMENT OF THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE S REPUBLIC OF CHINA FOR THE AVOIDANCE OF DOUBLE TAXATION AND
More informationPersonal Scope Art. 1 This Agreement shall apply to persons who are residents of one or both of the Contracting
AGREEMENT BETWEEN THE REPUBLIC OF BULGARIA AND THE REPUBLIC OF CROATIA FOR THE AVOIDANCE OF DOUBLE TAXATION WITH RESPECT TO TAXES ON INCOME AND ON CAPITAL Prom. SG. 105/8 Sep 1998 The Republic of Bulgaria
More informationGeneral Terms and Conditions for the Opening and Use of Deposit Accounts
General Terms and Conditions for the Opening and Use of Deposit Accounts Landsbankinn hf. No. 1529-01 September 2017 These Terms and Conditions apply to all deposit accounts established with Landsbankinn
More informationDouble Taxation Agreement between China and the United States of America
Double Taxation Agreement between China and the United States of America English Version Done on April 30, 1984 This document was downloaded from the Dezan Shira & Associates Online Library and was compiled
More informationJoint Report. of the Executive Board of KION GROUP AG. and. the Management Board of KION IoT Systems GmbH
Joint Report of the Executive Board of KION GROUP AG and the Management Board of KION IoT Systems GmbH pursuant to section 293a German Stock Corporation Act on the conclusion and content of the Domination
More informationHow to establish a company in Spain
Establishing a company in Spain How to establish a company in Spain How to establish a company in Spain Purchase of an existing company Establishment of a representation office 1. The principals should
More informationCustomer Application Form
Customer Application Form We, the undersigned, representing, Registered Company name (in full) hereby apply to become a customer of Clearstream Banking AG ( CBF ) Trade name (if different from registered)
More informationOrdinance on Collective Investment Schemes
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force. Ordinance on Collective Investment Schemes (Collective
More informationData protection information under the EU General Data Protection Regulation in Germany
Data protection information under the EU General Data Protection Regulation in Germany May 2018 The following information provides an overview of how we process personal data and rights under data protection
More informationRULES FOR DIVIDEND PAYMENT. approved by Resolution No. 3 of Regular General Assembly of the company Biotika a.s. Art.
Biotika a.s., 976 13 Slovenská Ľupča 566, Slovak Republic Ident. No.: 31 561 900, Tel.: +421 (0)48 4368 238, Fax: +421 (0)48 418 70 60, E-mail: duris@biotika.sk Company is registered in Business Register
More informationCyprus Bulgaria Tax Treaties
Cyprus Bulgaria Tax Treaties AGREEMENT OF 30 TH OCTOBER, 2000 This is the Convention between the Republic of Cyprus and the Republic of Bulgaria for the avoidance of double taxation with respect to taxes
More informationFrequently Asked Questions
Frequently Asked Questions Here you can find the answers to the most frequent questions on the subject of 1. Deposit guarantee 2. Investor compensation listed by subject. 1. Deposit guarantee What is guaranteed?
More informationTAXATION OF NON-RESIDENTS. (Non-resident Income Tax) INCOME ACCRUED FROM 1 JANUARY This publication is merely for information purposes.
This publication is merely for information purposes. TAXATION OF NON-RESIDENTS (Non-resident Income Tax) INCOME ACCRUED FROM 1 JANUARY 2011 TAX Agency MINISTRY OF THE FINANCE AND CIVIL SERVICE V.10 4 April
More informationCurrency Law Subject Article 1. Freedom to Conduct Transactions and Operations and to Make Payments Article 2.
Currency Law 1 Currency Law (Adopted by the 38th National Assembly on 8 September 1999; published in the Darjaven Vestnik, issue 83 of 21 September 1999; in force as of 1 January 2000; amended; issue 45
More informationAnnual General Meeting
M18 2018 MAN Truck Forum Munich Annual General Meeting Explanations for - Item 1 - Rights of shareholders - Number of shares and voting rights at the time of notice of the Annual General Meeting Engineering
More informationGeneral Terms and Conditions for the Hotel Accommodation Contract
General Terms and Conditions for the Hotel Accommodation Contract Scope of application 1) These Terms and Conditions shall apply to all contracts for the provision of hotel rooms for accommodation and
More informationRegulations to the Debt Collection Act of 13 May 1988 no. 26 (Debt Collection Regulations)
FINANSTILSYNET The Financial Supervisory Authority of Norway Translation as of March 2017 This translation is for information purposes only. Legal authenticity remains with the official Norwegian version
More informationAGREEMENT BETWEEN THE GOVERNMENT OF THE KINGDOM OF BELGIUM AND THE GOVERNMENT OF THE STATE OF QATAR FOR THE AVOIDANCE OF DOUBLE TAXATION
AGREEMENT BETWEEN THE GOVERNMENT OF THE KINGDOM OF BELGIUM AND THE GOVERNMENT OF THE STATE OF QATAR FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME
More informationGeneral terms for deposits and payment services corporate customers
Bl.nr.010 208-05.2012 General terms for deposits and payment services corporate customers Part C of the Account Agreement These terms apply to corporate customers only, that is to say all those who are
More information1. Parking cards issued to natural persons with a permanent residence in the stated area or owning a real property in the stated area - RESIDENTS
CONDITIONS FOR ISSUANCE OF PARKING CARDS Introduction A parking card is issued for standing of a road vehicle operated for the purpose of business under a special legal regulation by a legal or natural
More informationThis document has been provided by the International Center for Not-for-Profit Law (ICNL).
This document has been provided by the International Center for Not-for-Profit Law (ICNL). ICNL is the leading source for information on the legal environment for civil society and public participation.
More informationInvitation to the Annual General Meeting
Invitation to the Annual General Meeting of, 16 May 2017 3 Düsseldorf ISIN DE000A1ML7J1 WKN A1ML7J Invitation to the 2017 Annual General Meeting The shareholders in our Company are cordially invited to
More informationArticle 3 1. For the purposes of this Convention, unless the context otherwise requires: (a) the term Kazakhstan means the Republic of Kazakhstan,
CONVENTION BETWEEN JAPAN AND THE REPUBLIC OF KAZAKHSTAN FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME Japan and the Republic of Kazakhstan, Desiring
More informationApril CEIOPS-DOC-02/06 Rev 1 Oct 2008
Rev 1 Oct 2008 Protocol Relating to the Cooperation of the Competent Authorities of the Member States of the European Union in Particular Concerning the Application of Directive 2002/92/EC of the European
More informationGeneral Terms and Conditions of Sale and Delivery of Agrichema Schüttguttechnik GmbH & Co. KG
General Terms and Conditions of Sale and Delivery of Agrichema Schüttguttechnik GmbH & Co. KG I. General 1. The present terms and conditions of sale and delivery shall apply to all deliveries, services
More informationIn accordance with a decision of the Parliament, the following is enacted:
[UNOFFICIAL TRANSLATION MINISTRY OF ECONOMIC AFFAIRS AND EMPLOYMENT 2017] Accounting Act 1336/1997 In accordance with a decision of the Parliament, the following is enacted: Chapter 1 General provisions
More information