Cross Border Fiacig Guide
Cotets Cross Border Fiacig Guide 1 Global reach 2 Critical issues covered 4 Tailored report 5 Comparative table 6 Tax issues 7 Olie services other products 8 Fiace ad Capital Markets 11 Key cotacts 12 2
Cross Border Fiacig Guide The Cross Border Fiacig Guide (CBFG) is a o-lie, fast ad user-friedly resource. Desiged for busiess users, it provides a cocise ad practical overview of the key legal issues faced by participats whe structurig a cross-border fiacig. It will eable your team to aticipate hurdles ad help with its decisio makig process. It is updated regularly. Structurig ad executig cross-border fiacigs ca be difficult ad highly complex, particularly whe security is take. Clifford Chace s Cross Border Fiacig Guide helps potetial borrowers, leders, arragers ad their advisers to scope complex crossborder secured ad usecured fiacigs ad to aalyse issues, optimise structures ad esure swift executio. There are various ways to use the guide: You ca quickly produce a tailored report coverig your choice of issues i over 20 jurisdictios. You ca create comparative summary tables to assess the differeces betwee the laws of various coutries. You ca create a comprehesive guide to issues of iterest to you i a particular coutry. You ca access a withholdig tax matrix showig you the basic withholdig tax rates. For example, i a couple of clicks you ca fid aswers to queries such as: Ca Hugaria compaies give up-stream ad cross-stream guaratees? Ca you take security over Russia book debts? Are there ay substatial fees for mortgages over real estate i Brazil? What are the withholdig tax issues for Sigapore borrowers? Do you eed to otarise Belgia law documets? Is there a fiacial assistace problem i Swede? 1
Global reach over 20 jurisdictios covered The CBFG is accessible 24/7 ad is set out i a clearly structured ad readable format, eablig you to fid the aswer to your query easily. It is updated regularly by fiace lawyers across the jurisdictios ad is supported by our dedicated o-lie services team. The CBFG provides cotact details which will direct you to fiace lawyers i the relevat jurisdictio if you are lookig for more detailed advice. We curretly cover over 20 jurisdictios across the world. 2
Jurisdictios covered: Belgium Brazil Czech Republic Frace Germay Hog Kog Hugary Italy Japa Luxembourg The Netherlads Polad Russia Federatio Sigapore Spai Swede Thailad UAE UK UK (Eglad ad Wales) USA (Scotlad) Vietam Jurisdictios covered 3
Critical issues covered The guide categorises key iformatio uder the followig headigs: Executive Summary Recet Developmets Pricipal cocers ad items to ote Issues of particular complexity Types of busiess etity Guaratees Security: Geeral Security over the busiess Security over commoly secured assets Shared security (security trustee / security aget) Trasferability of loas ad security Corporate beefit Fiacial assistace Priorities Isolvecy Summary of tax cocers Fees ad expeses Executio of Documets Security over other assets 4
Tailored report It is quick ad easy to geerate a tailored report focussed o the jurisdictios ad issues which are relevat to your trasactio. Below is a sample tailored report which shows the fiacial assistace issues i Belgium ad Hog Kog: 5
Comparative table You ca produce a comparative table cotaiig summaries of issues i relevat jurisdictios, hyperliked to more detailed iformatio. Below is a sample table showig a comparative aalysis of whether it is possible to take security over commoly secured assets i the Czech Republic, Germay, Russia ad Thailad: 6
Tax issues Summary of Tax Cocers Each jurisdictio cotais a summary of the tax positio i that jurisdictio o a rage of tax issues such as withholdig tax, stamp duty ad thi capitalisatio. Withholdig Tax Matrix There is a easy referece tax matrix which provides a geeral guide to the rates of withholdig tax betwee the differet jurisdictios. A sample of part of the matrix is show below: 7
Olie services our other products Our other olie services provide istat access to a variety of tailored kow-how iformatio ad iclude: Our Sector-focused Alerters - Cocise email digests of must kow legislative ad regulatory developmets from aroud the world, which ca be persoalised to suit the jurisdictios ad idustry sectors of idividual iterest. Each alert highlights the key issues with liks to more i depth aalysis, third party websites ad Clifford Chace experts. Alerter: Fiace Idustry - This alerter focuses o legislative, regulatory ad market chages i bakig, isurace ad ivestmet services aroud the world, providig you with daily updates o the global fiacial services markets, direct from key iteratioal cetres. Alerter: Commuicatios & Media - This Alerter focuses o developmets i the fast movig Europea Commuicatios & Media markets, coverig fixed ad mobile telecommuicatios, radio ad televisio. Alerter: Eergy - This Alerter focuses o the icreasigly ope global eergy sector. It covers gas, electricity, reewable eergy, oil, uclear, evirometal ad climatic tradig, ad geeral evirometal issues. Cross Border Acquisitio Guide - Structurig moder fiacig solutios ca be difficult ad highly complex. Accessig iformatio critical to the proper structurig of a cross border trasactio is essetial to the success of a deal. This service provides a overview of the legal issues faced, givig a higher chace of success. Clifford Chace Global M&A Toolkit - A growig collectio of web-based trasactio tools ad i-depth aalysis of the most importat market ad regulatory developmets i M&A regimes across the globe. Feature Topics - The Feature Topics update pages cotai regulatios made i respose to chagig coditios i the fiacial markets, as well as relevat cliet briefigs, ews, cotacts ad bak-specific iformatio. There are curretly two Feature Topics pages: Lehma Update Short Sellig Update. COMPLY - With regulators takig a icreasigly tough stace agaist breaches of competitio / atitrust ad ati-corruptio law, there is a eed for a robust compliace traiig tool for your employees. COMPLY trais, tests ad moitors your employees o all relevat aspects of competitio / atitrust ad / or ati-corruptio law. Compliace officers ca also moitor progress through the reportig tool which makes COMPLY both a cost ad time effective service to deploy. 8
The firm has early 130 parters ad 500 associates egaged i bakig ad fiace deals aroud the world, makig it oe of the largest groups i the market. Its depth is matched by its abilities, ad it has remaied a key adviser to may large bakig ad corporate cliets. Sources say: The firm s offices are well joied up ad beefit from superb commuicatio. The firm is well established aroud the world, builds strog relatioships with cliets ad is kow for its soud commercial sese. Chambers Global 2011 Bakig & fiace Tier 1
Fiace ad Capital Markets Your Clifford Chace team offers applied expertise based o our ivolvemet i headlie trasactios icludig acquisitios, refiacigs, restructurigs, real estate fiace, project fiace ad asset fiace. Our substatial experiece of workig o cross-border fiacigs of all sizes eables us to make a valuable cotributio right from the start as we ca brig a wide rage of legal experiece ad idustry kowledge to each deal. We deliver cross-border deal expertise through a dedicated etwork of parters based across 21 coutries ad 30 offices. We provide you with access to local teams of lawyers, workig together with oe aim i mid: to achieve your busiess objectives. Our itegrated approach gives you access to complemetary areas of law icludig Corporate; Tax; Real Estate; Employmet ad Litigatio/Dispute Resolutio. We work closely with your i-house team, keepig your commercial objectives at the forefrot of our thikig, to miimise ay impact o your day-to-day busiess. 11
Key cotacts Seior Parter Global Head of Bakig ad Fiace Malcolm Sweetig T: +44 207006 2028 E: malcolm.sweetig@cliffordchace.com Mark Campbell Parter T: +44 207006 2015 E: mark.campbell@cliffordchace.com Lodo Michael Bates Parter T: +44 207006 2783 E: michael.bates@cliffordchace.com Kate Gibbos Parter T: +44 207006 2544 E: kate.gibbos@cliffordchace.com Rob Lee Parter T: +44 207006 2742 E: robert.lee@cliffordchace.com Americas Asia Eva Cohe Parter T: +1 212878 8518 E: eva.cohe@cliffordchace.com Huw Jekis Parter T: +852 2826 3428 E: huw.jekis@cliffordchace.com Cotietal Europe Thierry Arachtigi Parter, Paris T: +33 14405 5292 E: thierry.arachtigi@cliffordchace.com 12 Robi Abraham Parter, Middle East T: +971 43620 609 E: robi.abraham@cliffordchace.com Daiel Badea Maagig Parter, Bucharest Bakig & Capital Markets T: +40 216666 101 E: daiel.badea@badea.cliffordchace.com Giuseppe de Palma Parter, Italy T: +39 064229 1233 E: giuseppe.depalma@cliffordchace.com
Cotietal Europe Yves Herickx Parter, Brussels Fiace & Capital Markets T: +32 2533 5901 E: yves.herickx@cliffordchace.com Mark Huddlestoe Parter, Amsterdam T: +31 20711 9144 E: mark.huddlestoe@cliffordchace.com Steve Jacoby Parter, Luxembourg T: +352 485050 219 E: steve.jacoby@kremer.cliffordchace.com Alberto Mazaares Parter, Spai T: +34 91590 9490 E: alberto.mazaares@cliffordchace.com Grzegorz Namiotkiewicz Maagig Parter, Warsaw T: +48 22429 9408 E: grzegorz.amiotkiewicz@ cliffordchace.com Vlad Petrus Parter, Prague T: +420 22255 5207 E: vlad.petrus@cliffordchace.com Riko Vaezis Parter, Germay Bakig & Capital Markets T: +49 697199 3321 E: riko.vaezis@cliffordchace.com Bas Boris Visser Maagig Parter, Amsterdam T: +31 20711 9624 E: basboris.visser@cliffordchace.com Loga Wright Parter, Moscow T: +7 495725 6430 E: loga.wright@cliffordchace.com 13
Cotact: For further iformatio please cotact: Olie Services Helpdesk +44 20 7006 4444 olieservices@cliffordchace.com Clifford Chace LLP, November 2012 Clifford Chace LLP, 10 Upper Bak Street, Lodo, E14 5JJ www.cliffordchace.com Clifford Chace LLP is a limited liability partership registered i Eglad & Wales uder umber OC323571. Registered office: 10 Upper Bak Street, Lodo, E14 5JJ. We use the word parter to refer to a member of Clifford Chace LLP, or a employee or cosultat with equivalet stadig ad qualificatios. Abu Dhabi Amsterdam Bagkok Barceloa Beijig Brussels Bucharest Casablaca Doha Dubai Düsseldorf Frakfurt Hog Kog Istabul Kyiv Lodo Luxembourg Madrid Mila Moscow Muich New York Paris Perth Prague Riyadh (co-operatio agreemet) Rome São Paulo Seoul Shaghai Sigapore Sydey Tokyo Warsaw Washigto, D.C. Clifford Chace has a co-operatio agreemet with Al-Jadaa & Parters Law Firm i Riyadh J201206290041520