Labour and Employment 2017

Total Page:16

File Type:pdf, Size:1020Kb

Labour and Employment 2017 GETTING THROUGH THE DEAL Labour & Employment Labour & Employment Labour Contributing editors Matthew Howse, Sabine Smith-Vidal, Walter Ahrens and Mark Zelek 2017 2017 © Law Business Research 2017 Labour & Employment 2017 Contributing editors Matthew Howse, Sabine Smith-Vidal, Walter Ahrens and Mark Zelek Morgan, Lewis & Bockius LLP Publisher Law The information provided in this publication is Gideon Roberton general and may not apply in a specific situation. [email protected] Business Legal advice should always be sought before taking Research any legal action based on the information provided. Subscriptions This information is not intended to create, nor does Sophie Pallier Published by receipt of it constitute, a lawyer–client relationship. [email protected] Law Business Research Ltd The publishers and authors accept no responsibility 87 Lancaster Road for any acts or omissions contained herein. The Senior business development managers London, W11 1QQ, UK information provided was verified between March Alan Lee Tel: +44 20 3708 4199 and April 2017. Be advised that this is a developing [email protected] Fax: +44 20 7229 6910 area. Adam Sargent © Law Business Research Ltd 2017 [email protected] No photocopying without a CLA licence. Printed and distributed by First published 2006 Encompass Print Solutions Dan White Twelfth edition Tel: 0844 2480 112 [email protected] ISSN 1750-9920 © Law Business Research 2017 CONTENTS Global overview 7 Greece 99 Mark E Zelek Theodoros Skouzos and Aikaterini Besini Morgan, Lewis & Bockius LLP Iason Skouzos & Partners Law Firm Global gender pay equity – an achievable aim? 9 India 108 Matthew Howse and Lee Harding Rohit Kochhar Morgan, Lewis & Bockius LLP Kochhar & Company Afghanistan 11 Indonesia 115 Ghazi Khan and Muhammad Ismail Johannes C Sahetapy-Engel and Anissa Paramita Legal Oracles Arfidea Kadri Sahetapy-Engel Tisnadisastra (AKSET) Australia 16 Italy 121 Joydeep Hor and Therese MacDermott Valeria Morosini People + Culture Strategies Toffoletto De Luca Tamajo e Soci – member of Ius Laboris Austria 23 Japan 130 Thomas Boller Motoi Fujii and Tomoko Narita BLS Rechtsanwälte Boller Langhammer Schubert GmbH TMI Associates Belgium 31 Kazakhstan 141 Emmanuel Plasschaert, Evelien Jamaels and Alex Franchimont Klara Nurgaziyeva, Marat Mukhamediyev and Asset Nakupov Crowell & Moring Morgan, Lewis & Bockius LLP Brazil 37 Korea 147 Fabio Medeiros Sun Ha Kweon, Matthew F Jones and Sung Il Yoon Machado Associados Advogados e Consultores Kim & Chang Bulgaria 44 Luxembourg 154 Maria Drenska and Maya Aleksandrova Guy Castegnaro and Ariane Claverie Pavlov and Partners Law Firm in cooperation with CMS Castegnaro – member of Ius Laboris Reich-Rohrwig Hainz Rechtsanwälte GmbH Malaysia 165 Chile 50 Selvamalar Alagaratnam Enrique Munita, Paola Casorzo, Marcela Salazar and Skrine Paula García Huidobro Munita & Olavarría – Ius Laboris Chile Mexico 171 Humberto Padilla Gonzalez China 57 Morgan, Lewis & Bockius LLP Todd Liao Morgan, Lewis & Bockius LLP Monaco 176 Sophie Marquet and Florence de Guzman de Saint Nicolas Denmark 64 PCM Avocats - Pasquier Ciulla & Marquet Associés Morten Langer Norrbom Vinding Norway 182 Tore Lerheim and Ole Kristian Olsby Ecuador 71 Homble Olsby advokatfirma AS Patricia Ponce Bustamante & Bustamante Law Firm Portugal 188 João Silva Pereira Finland 77 Barrocas & Associados – Sociedade de Advogados, RL Seppo Havia, Suvi Knaapila and Valtteri Tapala Dittmar & Indrenius Puerto Rico 195 Melissa C Rodriguez France 84 Morgan, Lewis & Bockius LLP Sabine Smith-Vidal and Charles Dauthier Morgan, Lewis & Bockius LLP Russia 204 Bela Pelman and Dmitry Dmitriev Germany 91 Morgan, Lewis & Bockius LLP Walter Ahrens Morgan, Lewis & Bockius LLP 2 Getting the Deal Through – Labour & Employment 2017 © Law Business Research 2017 CONTENTS Singapore 212 Thailand 261 Ian Lim, Jamie Chin and Nicholas Ngo Pisut Rakwong and Nalanta Tonghorm TSMP Law Corporation Pisut and Partners Slovakia 224 Turkey 267 Pavol Rak and Petra Krajčík Rıza Gümbüşoğlu, Pelin Baysal and Beril Yayla Sapan Noerr s.r.o. Gün + Partners Slovenia 232 United Arab Emirates 272 Darja Miklavčič Charles Laubach and Tara Jamieson Odvetniki Šelih & partnerji, o.p., d.o.o. Afridi & Angell Spain 239 United Kingdom 278 Iñigo Sagardoy and Ricardo García Fernández Matthew Howse, Sarah Ash and Nicholas Hobson Sagardoy Abogados – member of Ius Laboris Morgan, Lewis & Bockius LLP Sweden 247 United States 285 Robert Stromberg and Jonas Lindskog David A McManus and Michelle Seldin Silverman Cederquist Morgan, Lewis & Bockius LLP Switzerland 254 Venezuela 293 Roberta Papa and Thomas Pietruszak John D Tucker, Pablo Benavente and María Elena Subero Blesi & Papa Hoet Peláez Castillo & Duque www.gettingthedealthrough.com 3 © Law Business Research 2017 PREFACE Preface Labour & Employment 2017 Twelfth edition Getting the Deal Through is delighted to publish the twelfth edition of Labour & Employment, which is available in print, as an e-book and online at www.gettingthedealthrough.com. Getting the Deal Through provides international expert analysis in key areas of law, practice and regulation for corporate counsel, cross-border legal practitioners, and company directors and officers. Throughout this edition, and following the unique Getting the Deal Through format, the same key questions are answered by leading practitioners in each of the jurisdictions featured. Our coverage this year includes new chapters on Monaco and Thailand. Getting the Deal Through titles are published annually in print. Please ensure you are referring to the latest edition or to the online version at www.gettingthedealthrough.com. Every effort has been made to cover all matters of concern to readers. However, specific legal advice should always be sought from experienced local advisers. Getting the Deal Through gratefully acknowledges the efforts of all the contributors to this volume, who were chosen for their recognised expertise. We also extend special thanks to the contributing editors, Matthew Howse, Sabine Smith-Vidal, Walter Ahrens and Mark Zelek of Morgan Lewis & Bockius LLP, for their continued assistance with this volume. London April 2017 www.gettingthedealthrough.com 5 © Law Business Research 2017 Morgan, Lewis & Bockius LLP GLOBAL OVERVIEW Global overview Mark E Zelek Morgan, Lewis & Bockius LLP US companies have gone increasingly global in recent years. Many protections to obtain relief. Aggrieved employees simply file claims US firms now have far-flung operations (as well as customers) spread that their terminations were without ‘cause’. around the world. US-based multinationals often learn the hard way that they cannot deal with overseas employees in the same manner Employment contracts they do with their US counterparts because of the dramatic differ- In the United States, employees rarely have written employment con- ences between the United States and the rest of the world’s labour and tracts. Employment contracts are generally reserved only for high-level employment laws. This overview highlights and summarises the prin- executives, and, in the absence of a written employment contract for a cipal distinctions and discusses recent reforms in some foreign coun- fixed term, US workers’ employment is at-will. tries to narrow that gap. By contrast, in most of the rest of the world employment contracts are either statutorily required for all employees or highly recommended Employment-at-will versus job stability as best practice. Moreover, the minimum terms that employment con- The United States regulates its labour market significantly less than tracts must contain are often outlined in statutes. In the absence of a other countries do. Unlike much of the rest of the world, there is no written employment contract, it is very difficult for employers to win if comprehensive statutory labour law governing individual employ- disputes with foreign employees arise. ment relationships or constitutional recognition of labour rights in the United States. The terms of employment relationships are determined Managing termination exposure risk largely by employers and accepted or rejected by workers rather than Although discharged employees in most parts of the world are entitled imposed by the government. This is generally designed to encourage by law to generous severance payments, the potential exposure can be business development, job creation and the movement of workers from quantified and can be budgeted and saved. Typically, the severance declining sectors of the economy to expanding sectors. The result is formula is set out in a statute and includes a base payment plus a mul- that the United States has a historically lower unemployment rate than tiple based on seniority of final pay for a specified period. Unlike in the that of most other nations. United States, compensatory and punitive damages, jury trials, and The basic principle of individual labour law in the United States class and collective actions are also generally unavailable for employ- is the employment-at-will doctrine. Under employment-at-will, US ment claims. This greatly reduces the risk of an unexpected or runa- private-sector employers can dismiss their non-unionised employees way result. at any time for any reason or even no reason at all. Thus, non-union US private employers do not have to demonstrate ‘just cause’ to termi- Unionisation nate an employee without paying severance or providing notice. They Only 6.7
Recommended publications
  • Doing Business in Argentina Contents
    This publication is a joint project with Doing business in Argentina Contents Executive summary 4 Disclaimer Foreword 6 This document is issued by HSBC Bank (Argentina) Company Limited Introduction – Doing business in Argentina 8 (the ‘Bank’) in Argentina. It is not intended as an offer or solicitation for business to anyone in any Conducting business in Argentina 13 jurisdiction. It is not intended for distribution to anyone located in or Taxation in Argentina 18 resident in jurisdictions which restrict the distribution of this document. Audit and accountancy 29 It shall not be copied, reproduced, transmitted or further distributed Human Resources and Employment Law 34 by any recipient. Trade 37 The information contained in this document is of a general nature Banking in Argentina 40 only. It is not meant to be comprehensive and does not HSBC in Argentina 43 constitute financial, legal, tax or other professional advice. You Country overview 44 should not act upon the information contained in this publication without Contacts and further information 46 obtaining specific professional advice. This document is produced by the Bank together with PricewaterhouseCoopers (‘PwC’). Whilst every care has been taken in preparing this document, neither the Bank nor PwC makes any guarantee, representation or warranty (express or implied) as to its accuracy or completeness, and under no circumstances will the Bank or PwC be liable for any loss caused by reliance on any opinion or statement made in this document. Except as specifically indicated, the expressions of opinion are those of the Bank and/or PwC only and are subject to change without notice.
    [Show full text]
  • 10 Reasons to Live in Germany
    GERMANY INVESTS MORE THAN INEXPENSIVE LIVING COSTS THE UNITED STATES, THE UNITED KINGDOM OR FRANCE ON R&D. GERMANY RANKS 4TH IN THE SKILLED STUDENTS WORLD FOR APPLICATIONS FOR INTERNATIONAL PATENTS. GERMANY'S FEED-IN TARIFF SCHEME OFFERS FINANCIAL THE JOY OF FAHRVERGNUGEN INCENTIVES TO THOSE WHO GENERATE AND EXPORT ELECTRICITY FROM RENEWABLE SOURCES LIKE WIND TURBINES AND SOLAR PANELS. CHRISTMAS CASH “FUNDING LEVELS ARE GERMANY INVESTS MORE THAN CONTINUALLY CLIMBING YOU INEXPENSIVE LIVING COSTS THE UNITED STATES, THE UNITED CAN COUNT ON FUNDING WHEN IT KINCAREERGDOM O RGUIDE FRANCEGERMANY ON R&D. COMES TO PLANNING A CAREER.” S ST O C G N I V I L E V I S PEN X E IN N HA T E R MO S T S NVE I Y N MA R E G RESEARCH & DEVELOPMENT SPENDING D D E IT N U E H T , S E T A T S D E IT N U E H T . D & R N O E C N A R F R O M O GD N I K CHANCE FORG SERCMAIENNCY EINVESTS MORE THAN INEXPENSIVE LIVING COSTS GERMANY RANKS 4TH IN THE is a dating-styleT webHE UsitNeIT thatED ScoTnAnTeEctSs, TrefHuEg UeNesIT ED 10 REASONSwith a sc ieTOntic back grLIVEound with German SINKILLED SGERMANYTUDENTS WORLD FOR APPLICATIONS FOR academics for pKrofeINGDssiOonMa lO collR FabRAoNratioCE nOs.N IRt’&s ruD.n Comparatively low living costs,by C aarmen largely Bachman nfree, a tax a higher-educationnd nance professor system E H T N I andH T 4 S K aN A wealthR Y N MA R E G of INTERNATIONAL PATENTS.
    [Show full text]
  • Information Campaign for the 2014 Elections to the European Parliament in Slovakia
    INFORMATION CAMPAIGN FOR THE 2014 ELECTIONS TO THE EUROPEAN PARLIAMENT IN SLOVAKIA 16 September 2013 - 25 May 2014 Presidential Debate (p5;25) Mr. Schulz visit (p2;22) Election Night (p3;27) European Parliament Information Office in Slovakia started the official information campaign for the 2014 Elections to the European Parliament in Slovakia in September 2013. Since then, almost 60 events, discussion forums, outdoor activities and dialogues took place in more than 20 towns and cities across the Slovak Republic. In addition, 6 nationwide competitions focusing on the European Elections were initiated. The most significant and interesting moments of our information campaign were definitely the visit of the EP President Martin Schulz in the Celebration of the 10th Anniversary of the EU membership in Bratislava on 30 April 2014, Election Night dedicated to the official announcement of the results of the 2014 Elections to the European Parliament in Slovakia on 25 May 2014 in the EPIO´s office in Bratislava, four outdoor events dedicated to the Celebration of the 10th Anniversary of the Slovak membership in the EU accompanied by the information campaign to the EE2014 taking place from April to May in four largest Slovak towns (Bratislava, Košice, Banská Bystrica and Žilina) and the watching of live stream of the Presidential Debate accompanied by analytical discussions on 15 May 2014. These activities caught the attention of hundreds of Slovaks who directly participated in them and other thousands of citizens who expressed their interest for our activities through social media. CONTENT I. Most significant moments of the EE2014 Information Campaign in Slovakia.............................
    [Show full text]
  • Remuneration and Employee Benefits in Organizations in the Czech Republic
    ACTA UNIVERSITATIS AGRICULTURAE ET SILVICULTURAE MENDELIANAE BRUNENSIS Volume 65 40 Number 1, 2017 https://doi.org/10.11118/actaun201765010357 REMUNERATION AND EMPLOYEE BENEFITS IN ORGANIZATIONS IN THE CZECH REPUBLIC Hana Urbancová1, Markéta Šnýdrová1 1Department of Human Resources, University of Economics and Management, Nárožní 2600/9a, 158 00 Prague 5, Czech Republic Abstract URBANCOVÁ HANA, ŠNÝDROVÁ MARKÉTA. 2017. Remuneration and Employee Benefits in Organizations in the Czech Republic. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 65(1): 0357–0368. In today’s highly competitive environment, the goal of organizations is to recruit, retain and sufficiently stimulate employees to give high quality performance, which may actually be achieved by a well‑developed system of remuneration and a wide range of suitably selected employee benefits. The article aims to identify and evaluate important factors influencing the area of employee remuneration and benefits offered in organizations in the Czech Republic. The research was carried out through a questionnaire survey that involved selected organizations in the Czech Republic (n = 402). The obtained primary data were processed using descriptive and multidimensional statistics. The factors examined in relation to the employee remuneration and benefits include: industries and sectors of organizations; markets in which they operate; the size of organizations by the headcount; the existence or absence of the Human Resource Department. The results confirm that the organizations that want to maintain a good position in the labour market pay attention to their personnel marketing, which is also helped by the right (suitable) system of employee remuneration and fringe benefits thanks to which they retain their employees and can increase employee satisfaction and loyalty.
    [Show full text]
  • Responding to the Business Impacts of COVID-19
    Responding to the Business Impacts of COVID-19 Navigating legal issues across 80+ territories Report on key legal considerations, including answers to common questions relating to Labour Law, Contract Law, Insolvency Law, Cybersecurity & Privacy Laws and Corporate Law VOLUME 1 - Americas, Asia-Pacific, Middle East & Africa 5 November 2020 back to territories index COVID-19: PwC Global Legal Network 1 Introduction COVID-19: Global Legal Report 5 May 2020 Dear Reader, In a constantly changing environment, COVID-19 is continuing to present significant challenges to both people and organisations around the globe. Many of you will be facing potentially significant business challenges to which you need to respond rapidly. To help you navigate through the complexity, PwC’s team of legal specialists have collaborated to create a resource covering some of the most relevant legal considerations for businesses. That information has been brought together in Volumes 1 and 2 of this Report and includes answers to common questions relating to: ● Labour Law, ● Contract Law, ● Insolvency Law, ● Cybersecurity & Privacy Laws; and ● Corporate Law. Reflecting commentary from more than 80 territories across our Global Legal Network, this Report is one of the most geographically comprehensive legal resources currently available on these topics. The hyperlinks in the ‘Territories Index’ will allow you to easily navigate across the two Volumes and access information for countries that are of most interest to you in a print-ready format. Alternatively, you can navigate this information, together with key insights regarding tax, economic and other government measures, using our online navigation tool: https://pwc.to/2QUBeCA If you would like further assistance on these issues, please either reach out to your usual PwC contact or the relevant Territory Contact listed in the Report.
    [Show full text]
  • Doing Business in Ecuador Doing Business in Ecuador 2
    DOING BUSINESS IN ECUADOR DOING BUSINESS IN ECUADOR 2 CONTENTS: 1 - Introduction 3 2 - Business Environment 4 3 - Foreign Investment 10 4 - Setting up a Business 14 5 - Labour 15 6 - Taxation 17 7 - Accounting & Reporting 27 8 - UHY Representation in Ecuador 28 DOING BUSINESS IN ECUADOR 3 1. INTRODUCTION UHY, established in 1986, with headquarters in London, United Kingdom, is a leading network of independent auditing, accounting, consulting and business firms with offices in more than 325 corporate centers in more than 95 countries. Our services and teams adapt to the culture of each client, including companies that trade on stock markets, large- and medium-size businesses, private companies, non-profit organizations and public companies. Commercial partners work together through a business network to carry out transactional operations and better serve our clients, as well as offer specialized knowledge and experience within its own national borders. The staff of specialized professionals is available within this worldwide network to respond to any type of consultation. This is a detailed report that discusses the main topics and financial information, for national and foreign investors, that are considering setting up commercial operations in Ecuador. This information has been provided by the office of representatives of UHY ECUADOR: UHY Assurance & Services Cía. Ltda. Pedro Ponce Carrasco E9-25 and Av. 6 de Diciembre. Multiapoyo Building, 9th Floor Quito, Ecuador Telephone: +593 2 3530204 Website: www.uhyecuador.ec Email: [email protected] Please contact UHY Assurance & Services ([email protected]) if you have any questions or comments. The information contained herein is current as of May 2020.
    [Show full text]
  • Collective Bargaining in Europe: Towards an Endgame Volume III
    European Trade Union Institute Bd du Roi Albert II, 5 1210 Brussels Belgium +32 (0)2 224 04 70 [email protected] www.etui.org Collective bargaining in Europe: towards an endgame Volume III Edited by Collective bargaining in Europe: Torsten Müller, Kurt Vandaele and Jeremy Waddington towards an endgame This book is one of four volumes that chart the development of collective bargaining since the year 2000 in the 28 EU Member States. Although collective bargaining is an integral part Volume III of the European social model, it does not sit easy with the dominant political and economic discourse in the EU. Advocates of the neoliberal policy agenda view collective bargaining III Volume — and trade unions as ‘rigidities’ in the labour market that restrict economic growth and impair entrepreneurship. Declaring their intention to achieve greater labour market flexibility Edited by and improve competitiveness, policymakers at national and European level have sought to Torsten Müller, Kurt Vandaele and Jeremy Waddington decentralise collective bargaining in order to limit its regulatory capacity. Clearly, collective bargaining systems are under pressure. These four volumes document how the institutions of collective bargaining have been removed, fundamentally altered or markedly narrowed in scope in all 28 EU Member States. However, there are also positive examples to be found. Some collective bargaining systems have proven more resilient than in Europe bargaining Collective Waddington and Jeremy Vandaele Kurt Müller, by Torsten Edited others in maintaining multi-employer bargaining arrangements. Based on the evidence presented in the country-focused chapters, the key policy issue addressed in this book is how the reduction of the importance of collective bargaining as a tool to jointly regulate the employment relationship can be reversed.
    [Show full text]
  • Doing Business in Ecuador Guide
    DOING BUSINESS IN ECUADOR GUIDE WWW.TZVS.EC AV. 12 DE OCTUBRE N26-97 Y LINCOLN, 1 EDIFICIO TORRE 1492, OFICINA 1505 TELF: +5932 298 6456 QUITO, ECUADOR TZVS.EC DOING BUSINESS IN ECUADOR GUIDE This Doing Business in Ecuador Guide has been prepared by TOBAR ZVS C.L.1, and is intended to provide with general information for the knowledge of potential investors interested in acquiring an existing business or before starting operations in Ecuador. The information included in this Guide is not exhaustive, and any in-depth and detailed information shall be consulted with experts. Updated as of January 2018 1 For Further inFormation about the Firm, please reFer to Section III at the end oF this document. AV. 12 DE OCTUBRE N26-97 Y LINCOLN, 2 EDIFICIO TORRE 1492, OFICINA 1505 TELF: +5932 298 6456 QUITO, ECUADOR TZVS.EC INDEX SECTION I - DOING BUSINESS IN ECUADOR GUIDE I. GENERAL INFORMATION OF ECUADOR 5 II. TYPES OF INVESTMENTS IN THE COUNTRY 6 II.I. PRIVATE SECTOR 6 II.II. PUBLIC SECTOR 6 III. BUSINESSES IN ECUADOR: GENERAL BACKGROUND 8 III.I. FORMS OF INCORPORATING A LEGAL ENTITY IN 8 ECUADOR a) Corporations 8 b) Branches 8 c) Limited Liability Companies 9 d) Mixed Economy Company 9 e) Joint Ventures 9 III.II. PRINCIPAL DIFFERENCES AMONG MOST COMMON LEGAL 10 ENTITIES III.III. GENERAL OBLIGATIONS FOR LEGAL ENTITIES UNDER 11 LOCAL LEGISLATION IV. TAX REGIME 13 IV. I. MAIN TAXES IN ECUADOR 13 a) Corporate Income Tax 13 b) Value Added Tax 13 c) Tax on Special Consumptions (ICE) 14 d) Currency OutFlow Tax (ISD) 14 e) Municipal Taxes 14 IV.
    [Show full text]
  • DOING BUSINESS in LATIN AMERICA by Globalaw Limited TABLE of CONTENTS Doing Business in Latin America
    DOING BUSINESS IN LATIN AMERICA By Globalaw Limited www.globalaw.net TABLE OF CONTENTS Doing Business in Latin America Map ................................................................................................. 3 Introduction & Contact ................................................................... 4 Country Guides 1. Anguilla ..................................................................................... 5 2. Argentina ................................................................................. 11 3. Bolivia ..................................................................................... 14 4. Brazil ....................................................................................... 18 5. Colombia ................................................................................. 26 6. Costa Rica ................................................................................ 32 7. Curaçao ................................................................................... 36 8. Dominican Republic ................................................................ 40 9. Ecuador ................................................................................... 46 10. El Salvador ............................................................................... 50 11. Guatemala ............................................................................... 55 12. Honduras ................................................................................. 59 13. Mexico ...................................................................................
    [Show full text]
  • The Use of Flexible Measures to Cope with Economic Crises in Germany and Brazil
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Eichhorst, Werner; Marx, Paul; Pastore, José Working Paper The use of flexible measures to cope with economic crises in Germany and Brazil IZA Discussion Papers, No. 6137 Provided in Cooperation with: IZA – Institute of Labor Economics Suggested Citation: Eichhorst, Werner; Marx, Paul; Pastore, José (2011) : The use of flexible measures to cope with economic crises in Germany and Brazil, IZA Discussion Papers, No. 6137, Institute for the Study of Labor (IZA), Bonn, http://nbn-resolving.de/urn:nbn:de:101:1-201112136887 This Version is available at: http://hdl.handle.net/10419/58570 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu IZA DP No.
    [Show full text]
  • DFK Doing Business in Argentina 2018.Pdf
    Doing Business in Argentina This document describes some of the key commercial and taxation factors that are relevant on setting up a business in Argentina. dfk.com Prepared by Estudio Sambuccetti y Asociados +44 (0)20 7436 6722 2 Doing Business in Argentina Background Brief description of Argentina has had, in the areas of exports and substitution of imports, a significant Argentina is a democratic republic; it opportunity to regain both activity and is divided into 23 provinces and the profitability levels. Also, it is important to Autonomous City of Buenos Aires, where include activities like Commerce, Hotels, the Federal Government is established. and Restaurants, and Finance, Insurance The President is elected every four years. and Real Estate, that represent 13,5 % and 15% of the GDP respectively. The GPD total In Argentina, there are 43 million is estimated as USD 964 billion (2015). inhabitants, a third of whom live in Buenos Aires City and its suburbs. Buenos Aires The official currency is the Argentine Peso Province is the most important province in and the reference currency is the terms of population and economic activity, US dollar. followed by Cordoba, Santa Fe, and the City of Buenos Aires. This city has a population of 3 million people in 200 km². Infrastructure Spanish is the official language and around The main commercial ports are Buenos 80% of the population is catholic. Aires, Bahía Blanca, Quequén, Rosario and Paraná. Over 90% of the Argentine foreign trade is carried out by sea. But the Argentine economy Argentine ports have some disadvantages: high taxes, low depth, and limited Argentina has traditionally based its infrastructure.
    [Show full text]
  • Doing-Business-Brazil-Ecovis-Pemom
    DOING BUSINESS IN BRAZIL September, 2014 INDEX I. INTRODUCTION 5 1. POLITI CA L DIVISIO N 5 2. BRA ZILI AN ECONOMY 7 2.1. Agri cul ture 7 2.2. Indu st rial 7 2.3. Tran spor t 7 II. COMPANIES STRUCTURE 8 1. BUSI NESS CORPO RATIO NS 8 2. LIMITE D LIAB ILITY COMPANY (LL C) 9 3. JOI NT VENTUR ES 9 4. OPE NING OF BRANCH ES IN BRA ZIL BY FOREIG N COMPANIES 9 III. FOREIGN INVESTMENT 9 1. FOREIG N CAPITAL IN BRA ZIL 9 1.1. Rest ri ct ion s to Foreign Invest men t 10 1.2. Regi st ra tion of Foreign Capi tal 11 1.3. Invest men ts in curren cy 11 1.4. Invest men t through Expor t Credi t Con ver sion 11 1.5. Invest men t through Impor t of Good s withou t Foreign Exc hange Cover 11 1.6. Pro fit Remi tt an ce Tax Trea ty 12 1.7. Rein vest men t of Pro fits 12 1.8. Capi tal Repa tria tion 12 1.9. Remi tt an ce Abroad 12 1.10. Ext ernal Tran sf er of Invest men ts in Bra zil 13 2.. FOREIG N ENTITIES – REGIST RATIO N 13 2.1. CNPJ (Na tional Corpora te Taxpa yer s Regi st er) 13 2.2. Cademp 13 2.3. CVM (Bra zilian Securi tie s Exc hange Commi ss ion) 13 3. INC ENTIVES 14 4. AMA ZO N, NORTHEAST AND ESPÍ RITO SAN TO 14 5.
    [Show full text]