Last 31 May, Audalia had the honor to host the conferences programmed with the name of “Doing business abroad. Legal framework”, in the context of the event “LCI spring meeting 2013″, as a start for many cultural and social activities during the whole weekend. NH Eurobuilding was chosen as the perfect scenario, to welcome the highly qualified lawyers from over the world, who are members of Legal Counsel International (LCI).The audience was delighted by a series conferences that emphasized a practical approach to legal issues, from Canada to Japan, not forgetting the weight of historical key factors and cultural background in shaping international businesses, all of it explained by highly experienced and successful professionals skilled with a notorious capability for public speaking. Hereunder, a brief summary of the presentations.
1.- Business in Spain, by Antonio Crespo.
Despite the harsh consequences of the global economic crisis in Spain, it is a country with great assets for foreign investment. The existence of various legal vehicles allows forms adaptable to the demands of several business models, complemented by a advanced arbitration system inspired by international standards, very accessible to foreign lawyers and their clients, what results in a very balanced system. Developed infrastructures and a strong tourism sector are a perfect combination that makes Spain ranking as one of the top countries which receive more foreign investment worldwide speaking.
2.- Trends in the U.K, by Troy Warner & Trevor Coward.
Troy Warner explained the options for trading in the UK and showed how remarkably quickly a company can be set up.
Trevor Coward summarised recent trends and changes in England. London is increasingly the forum for international litigation, and the civil procedure has recently been changed to achieve more transparency, and court control, over future costs. Disclosure during the court process marks England out from many other legal systems, but the extent of this has now been narrowed to specific issues identified in advance, again to save costs and keep the exercise proportionate. Another clear example of the same trend is the risk of being punished in costs, even if you win, if you have unreasonably refused to submit to mediation-.
3.- Legal matters in Italy, by Nicola Romano.
Lombardy is the most developed region in Italy in terms of business. It attracts the majority of the foreign inversion, and stands out with a 31% of Italian patents, extended to EU patents. Any type of business can be found in Lombardy, a strategic gateway to the Mediterranean, with great opportunities for investment.
About Justice and bureaucracy, Italian courts can be frustrating, notwithstanding certain specialized departments of the Milano Courts work reasonably well.
4.- Doing Business in Germany, by Thomas A. Oerter .
What are the key factors that are to be considered when choosing between the different options to invest in Germany? Foreign investors can conclude contracts with suppliers, establish local representatives in Germany (agents, distributors), establish a German legal entity or acquire a participation in an existing one. In order to decide between these alternatives, a foreign lawyer needs to be aware that the encounter between his legal approach to the intended transaction might not always fit with German mandatory rules. As a novelty, English speaking Courts are arising in Germany, which provides thrust and safety to foreign business companies involved in litigation.
5.- Legal matters in Russia, by Vladislav Zabrodin
Russia is the largest consumer market in Europe and one of the European countries with more natural resources, and it is developing towards higher efficiency. However, its inheritance from Soviet Union still weights. Foreign investors must be aware and be adviced on the Russian entrepreneurial culture in order to succeed, as well as the bureaucracy and real functioning of the country due to the corruption, the latter of which within Russians is seen as a way of speeding up setting a business -yet things are changing day by day-. Low taxes and favorable treatment for foreign investors are among its fundamental appeals.
6.- What you can expect from legal system and judiciary in Portugal, by José Alves Pereira.
Portugal is a country in distress, however, new and wider incentives and benefits for foreign investments, low prices on real estate, tourism facilities, and the availability of good companies for take-over, are advantages representing great opportunities. Modern democracy, civil and commercial legal system, along with an international Arbitration law -complemented by the very recent law on mediation- support Portugal as a potential receiver of international investment.
7.- Czech Republic as a safe harbour for your investment, by Jan Pakovsky.
Czec Republic represents a bridge connecting West and Eastern Europe, due to its historical and cultural background as an Slavic country more linked to western tradition. Crisis has minimally affected its economy. An stable banking system, advantageous geographic position and developed legal system characterizes Czech Republic.
8.- Recent Development of Japanese Law, by Hiroyuki Kamano.
Japan is attracting international media attention due to Mr. Abe’s president miraculous government of the nation, which has had an impact in economy. The previous economic stagnation pushed Japan into the third round of new legislation in its History. Japanese companies tend to use Courts or ADrs in order to solve a dispute, which requires lawyers assistance. Differently to other countries, Japanese companies are interested in external investment to use their accumulated cash, looking for high quality foreign lawyers.
9.- Canada- Land of opportunity, by Andrew Frei.
Growth perspectives of Canada outstrips Europe’s-. It counts with a legal and political system based on federal state subdivided in provinces, with a British parliamentary system and strong court system. How to conduct business in Canada? It must be taken into account the specific characteristics of common law contracts, and the inexistence of Notaries. Canadians are interested in investing in European innovative ideas. By the way, when doing business with Canadians keep in mind they may not always like saying no.
10 .-Legal aspects to do business in France, by Alexis Katchourine .
The deeply traditional French legal system, that has been a source for many others throughout Europe and even beyond its borders, has evolved over time until today when thanks to it´s strategical position in the maps along with an agile judicial frame work, makes this country an ideal place for business.
Tax are high in France, but it should not inhibit investors because an appropriate advice can save them many costs.