Latest News
Prague, Bucharest, 18 August 2022
ARCLIFFE advised BMW on Central and Eastern European cross-border matters
Arcliffe cross-border practice assisted on corporate and consumer protection related matters with respect to the BMW’s activity… Continue reading
Bratislava, 10 June 2022
New rules to Support Business Development in Slovakia
Starting with September 1, 2022, the “act amending certain laws in connection with the improvement of the business environment” will … Continue reading
Budapest, 22 April 2022
New Modifications to the Hungarian Construction Related Professions
Substantial modifications were made to the legal framework regulating construction-related profession exercising … Continue reading
Bucharest, 3 February 2022
Arcliffe LLP Bucharest Advised on 550 MW Wind Park Acquisition
ARCLIFFE LLP Bucharest Office has advised in the signing and closing of the acquisition of the development company of a wind park of … Continue reading
Vilnius, 15 November 2021
Amendments to the Public Procurements in Lithuania
Starting with January 2022, the following main amendments to the public procurements shall become effective in Lithuania… Continue reading
Bucharest, 1 October 2021
Arcliffe LLP Bucharest Advised an European IT Company on the disposal of its assets
ARCLIFFE LLP Bucharest Office has advised an European IT company on the worldwide disposal of its assets in connection with the Romanian matters… Continue reading
Bucharest, 12 August 2021
Arcliffe LLP Bucharest Advised on 305 MW Wind Park Acquisition
ARCLIFFE LLP Bucharest Office has advised in the acquisition of the development company of a wind park of 305 MW in Romania by an international energy company… Continue reading
Prague, 14 June 2021
Arcliffe LLP Prague – Krutak Partners – participated in the organization of the General Meeting of the Italian-Czech Chamber of Commerce and Industry
Together with Martina Ondová, we thank you for organizing the General Meeting of the Italian-Czech Chamber of Commerce and Industry in the beautiful … Continue reading
Bucharest, 23 May 2021
Arcliffe LLP Bucharest represented an International Shoes Manufacturer on the Restructuring of its European Operations
ARCLIFFE LLP Bucharest Office has advised an international shoes manufacturer on the restructuring of its European operation and the relocation of its production in Romania… Continue reading
Vilnius, 8 April 2020
State Aid Measures taken in Lithuania
We would like to inform that Lithuanian Government has prepared new state aid measures for companies and individuals affected by COVID-19. The governmental support consists of… Continue reading
Bucharest, 12 March 2020
Arcliffe LLP Bucharest Advised on 62 MW Wind Park Increased Capacity
ARCLIFFE LLP Bucharest Office has advised the development company of a wind park financed in Romania by Alerion, an Italian energy company, on the increase of the wind park power to an additional… Continue reading
Prague, 1 March 2020
Mandatory Testing of Employees in Czech Republic
Employers with more than 250 employees must ensure, by March 3, 2021, at the latest, provision of antigen COVID-19 tests to determine the presence of SARS-CoV-2 virus antigen. Employers with 50 to 249 employees have the obligation… Continue reading
Budapest, 19 February 2021
New Hungarian VAT tax on Sale of Residential Units
Starting with 2021, a residential unit to be built or existing in a multi unit residential building with a total net floor space not exceeding 150 square metres will fall under a 5% tax rate, except if it is located in a so-called… Continue reading
Sofia, 28 January 2021
New waste management legislation in Bulgaria
Bulgaria has adopted amendments related to the Waste Management Act. The amendments were published in the State Gazette, issued on 8 January 2021 and in force since 12 January 2021. The relevant amendments are the following… Continue reading
Budapest, 16 October 2020
New Artificial Intelligence Strategy Adopted by Hungary
The Hungarian government has adopted a new comprehensive artificial intelligence (“AI”) strategy that sets ambitious goals and measures for the development … Continue reading
Bucharest, 22 September 2020
ARCLIFFE LLP advised an international corporation acting in health and hygiene industry in Romania, Bulgaria and Serbia
ARCLIFFE LLP has advised an international corporation acting in health and hygiene industry in relation to its commercial activity and sensitive matters involving…Continue reading
Nicosia, 8 September 2020
Amendments to the Assessment and Collection of Taxes Law
A law amending the Assessment and Collection of Taxes Law was enacted on 20 August 2020 in Cyprus. A summary of the main provisions enacted are …Continue reading
Prague, 25 August 2020
Employment law developments in Slovakia
As of 24 August 2020, the Czech government approved prolongation of the “Antivirus” Program to support employers affected by COVID-19. Antivirus A (temporary closure of operations …Continue reading
Warsaw, 11 May 2020
Reopening the Economy in Poland
Starting from May 4, 2020, hotels accommodation prohibition has been lifted. However, there are certain restrictions applicable to … Continue reading
Prague, 29 April 2020
Czech Restart is Available!
Insights on the Czech economy restart have been made available by Krutak & Partners, our ARCLIFFE LLP Czech Office … Continue reading
Bucharest, 8 April 2020
Available Measures for Employees during COVID 19 Pandemic
Following the enactment by the President of Romania of the state of emergency through the Presidential Decree 195 / 2020, the following … Continue reading
Bratislava, March 9, 2020
Employment law developments in Slovakia
There are a number of employment law modifications that are becoming applicable in Slovakia in 2020 that we discuss below … Continue reading
Bucharest, February 19, 2020
ARCLIFFE LLP Bucharest Office advised in the closing of the acquisition of 100 MW wind energy project in Romania
The project is one of the largest renewables energy project in Romania after the green certificates incentives scheme was no longer available. … Continue reading
Zagreb, February 10, 2020
New Patent Law in Croatia
On January 31, 2020, the Parliament of the Republic of Croatia passed the Patent Law which comes into effect on February 20, 2020. The new legal concepts … Continue reading
Sofia, December 5, 2019
ARCLIFFE LLP Litigation Team Advised on a Cross Border Financial Dispute
Arcliffe LLP Central and Eastern European litigation team has advised an international financial services company in a cross border litigation matter related to … Continue reading
Warsaw, November 20, 2019
Updates on Data Privacy in Poland
The updated list of operations requiring a data protection impact assessment was published in the official gazette of the Republic of Poland … Continue reading
Belgrade, November 6, 2019
Legal Improvements on Protecting the Inventions of Employees
The Law on Amendments to the Patent Law (Zakon o izmenama i dopunama Zakona o patentima) (“2019 Amendments”) effective from 26 September 2019 has the purpose to … Continue reading
Warsaw, October 22, 2019
Double Taxation Treaty between Cyprus and Kazakhstan
Cyprus and Kazakhstan signed a Double Taxation Treaty (the “DTT”). The DTT was ratified by Cyprus on 24 May 2019 and it is expected to become … Continue reading
Sofia, September 30, 2019
New Rules applicable to Renewable Energy Projects in Bulgaria
New rules amending the Bulgarian Energy Law and the Bulgarian Law on Energy from Renewable Sources were recently enacted in Bulgaria … Continue reading
Budapest, September 6, 2019
New modifications to the VAT Hungarian Act
The Hungary’s Parliament issued new amendments to the VAT Act with respect to tariff headings and SZJ numbers. They are compliant with the EU Commission Regulation (EU) 2017/1925 … Continue reading
Bucharest, August 12, 2019
ARCLIFFE LLP Bucharest Office advised Alerion on the acquisition of 100 MW wind energy project in Romania
ARCLIFFE LLP Bucharest Office has advised Alerion, an Italian energy company, on the acquisition of 100 MW wind energy project in Romania. … Continue reading
Prague, July 8, 2019
Early Repayment Costs of Retail Mortgages in Czech Republic
The Czech National Bank clarified recently the “efficiently incurred costs of the creditor in connection with the early repayment of consumer housing loans” pursuant to … Continue reading
Budapest, June 20, 2019
ARCLIFFE LLP Budapest Office Advised on a Geothermal Heat Plant Investment
DKKR Partners, the affiliated Budapest office of ARCLIFFE LLP, has provided legal advisory in connection to the establishment of a geothermal heat plant in a value of EUR 9.4 million in Hungary … Continue reading
Bucharest, May 14, 2019
Equal Opportunities for Men and Women in Romania. Anti-discrimination and Anti-harassment Policies.
New obligations have recently been enacted in Romania starting with 2 May 2019 for the employers … Continue reading
London, April 5, 2019
ARCLIFFE LLP Expands in the Baltics
We are pleased to announce that the Central and Eastern European legal practice ARCLIFFE LLP has expanded in the Baltics by opening a Vilnius office. The local partner firm led by… Continue reading
Budapest, March 21, 2019
ARCLIFFE LLP Budapest Office completed a Green Field Investment in the Agricultural Sector
DKKR Partners, the affiliated Budapest office of ARCLIFFE LLP, has advised a group of investors on the EUR 5 million equity investment aimed at setting up a R&D&I centre…. Continue reading
Sofia, March 11, 2019
Bulgaria is seeking a Strategic investor for the Belene Nuclear Plant
Natsionalna Elektricheska Kompania EAD announces a call for selection of a strategic investor regarding the construction of Belene nuclear power plant according to the website of… Continue reading
Nicosia, February 25, 2019
More Transparency Rules added to the Cyprus Stock Exchange Corporate Governance Code
Corporate Governance Code of the Cyprus Stock Exchange added new rules that are aimed at investors’ protection and safeguard of the directors’ independence. The most relevant rules are… Continue reading
Bucharest, January 21, 2019
New Taxes on the Banking and Energy Sectors in Romania
The Romanian Government has published in the Official Journal of Romania no. 1116 from 29 December 2018, the Governmental Emergency Ordinance 114/2018 which will… Continue reading
Prague, Bucharest, 7 December 2018
ARCLIFFE LLP advised Yazaki on Central and Eastern European cross-border matters
ARCLIFFE LLP cross-border practice assisted on corporate and labour related matters with respect to the Yazaki’s activity in various Central and Eastern European… Continue reading
Bratislava, 21 November 2018
New Amendments to the Labour Code in Slovakia
New amendments to the Slovak Labour Code and related laws governing wages and wage allowances entered recently into force… Continue reading
Warsaw, Poland, 14 November 2018
New requirements for Polish companies
A new relevant development toward integration of EU commercial registers and a shift to electronic format of data exchange is soon going live in Poland… Continue reading
Vilnius, Lithuania, 12 October 2018
Developments on Renewable Energy Investments
On the October 3, the Government approved the amendments to the Law on Renewable Energy, which establishes a new support model for encouraging power plants to generate energy… Continue reading
Prague, 10 September 2018
Opportunities for Fintech businesses in the Czech Republic
Additional payment services in the area of electronic payments (i.e. payment initiation service and account information service through a website or mobile application) allowing… Continue reading
Bucharest, 28 August 2018
GDPR is our Cake
In 2016, the European Parliament and the Council have enacted the Regulation (EU) 216/679 on the protection of natural persons with regards to the processing of personal data and… Continue reading
Sofia, Bulgaria, 7 August 2018
Money-Laundering Legislation in Bulgaria
Bulgaria has adopted a new anti-money laundering statute (Zakon za Merkite sreshtu Izpiraneto na Pari, Закон за мерките срещу изпирането на пари or Prevention of Money Laundering Act… Continue reading
Prague, 3 July 2018
ARCLIFFE LLP cross-border team advises The Lego Group
ARCLIFFE LLP cross-border practice has advised the Central and Eastern European subsidiary of Lego Group on the corporate, labour and… Continue reading
Belgrade, 7 June 2018
New value added tax (VAT) legislation in Serbia effective July 1, 2018
We note that the Serbian parliament issued a new VAT law in April 2018. The most important new rules are… Continue reading
Warsaw, 08 May 2018
Advising LESS MESS STORAGE in bank financing
Jedwabny & Brzozowska Legal, the Polish member of ARCLIFFE LLP, provided legal assistance to Less Mess Storage in negotiating the terms… Continue reading
Bratislava, 27 April 2018
New indirect taxation for insurance premiums
Pursuant to a draft law that is currently in preparation by the Slovak Finance Ministry, the insurance premium taxation of 8% will be replaced… Continue reading
Bucharest, 11 April 2018
ARCLIFFE LLP Bucharest has assisted on the acquisition of a Romanian IP company and the subsequent private placement of securities
ARCLIFFE LLP Bucharest Office has advised a Romanian company holder of an international patent on the acquisition of a minority position… Continue reading
Budapest, 29 March 2018
New personal data recommendation regarding online platforms
The Hungarian Data Protection Authority (“HDPA”) issued a recommendation for online platforms regarding the level of security and privacy… Continue reading
Belgrade, 8 March 2018
New Rules on the Payments of Public Entities
Starting with 1 March 2018, any business entities will have to register invoices issued to entities in the public sector… Continue reading
Prague, 12 February 2018
Statutory Pre-emption Right of the Properties Co-Owners
New amendments to the Civil Code of the Czech Republic has become effective starting with 1 January 2018. The most relevant rule relates… Continue reading
Sofia, 24 January 2018
Cartel Investigation in Bulgarian energy market
The Bulgarian Commission for Protection of Competition has commenced starting this week a cartel investigation into the energy market… Continue reading
Budapest, 21 December 2017
Hungarian Autumn Tax Package effective January 1, 2018
The Hungarian Parliament adopted significant amendments to the tax legislation relating to the procedural rules of tax authorities and income taxation… Continue reading
Bucharest, 11 December 2017
New taxation regime in Romania on labour payments
In November 2017, the Romanian Government has issued the Emergency Ordinance no. 79/2017 adding important modifications to the Tax Code, including but not limited to the pre-tax… Continue reading
Prague, 22 November 2017
Access economy regulations expected in Czech Republic
We note that the Czech Government published its analysis of possible ways to regulate the access economy and digital platforms. Access economy or sharing economy is defined as… Continue reading
Warsaw, 9 November 2017
Highlights of the new Polish restructuring legal framework
The long-time debate on the new restructuring procedures in Poland yielded a specific piece of legislation. The new Polish Restructuring Law provides a brand new array of… Continue reading
Zagreb, 31 October 2017
Marketing of pharmaceuticals products in Croatia
After joining European Union, Croatia has agreed to implement the regulatory framework of the pharmaceuticals market. There is an instability with respect to the unified… Continue reading
Sofia, 11 October 2017
Company registration in Bulgaria
The registration of investment vehicles in Bulgaria has several benefits. The incorporation of a Bulgarian company is effective. A symbolical sum of 1 Euro is the minimum required… Continue reading
Warsaw, 27 September 2017
Development financing of the Residential Complex „Nowy Punkt 3” in Warsaw
ARCLIFFE Warsaw has advised Bank Polska Kasa Opieki S.A. with respect to the development financing of the residential complex „Nowy Punkt 3” in Warsaw. Value of the… Continue reading
Nicosia, 6 September 2017
M&A in Cyprus
Section 198 of Companies Law regulates compromises between the majority of a company’s creditors which may then be imposed on all its creditors, and enables class rights of… Continue reading
Tirana, 22 August 2017
A short discussion on the electricity and gas sector in Albania
Albania performs reasonably well overall with respect to the quality of its energy (electricity and natural gas) sector. A recent EBRD energy law reform assessment, for example… Continue reading
Prague, 11 August 2017
ARCLIFFE cross-border team advises Sumitomo Electric Bordnetze
Arcliffe cross-border practice has been appointed by Sumitomo Electric Bordnetze to assist on labour law related matters with respect to the client’s activity in various CEE jurisdictions. … Continue reading
Prague, 20 July 2017
Restrictions on the development of encumbered plots of land
The Supreme Court of the Czech Republic has ruled that any development of an encumbered plot of land by an easement is restricted to only certain business activities. … Continue reading
Warsaw, 3 July 2017
ARCLIFFE Warsaw advises on the construction financing of a hotel in England
ARCLIFFE Warsaw has advised Polcom Group with respect to a construction loan in furtherance of a hotel development in England. Given the multi-jurisdictional nature of the loan… Continue reading
Belgrade, 22 June 2017
Serbia has expanded its double taxation treaty coverage
Effective as of 2017, Serbia’s double taxation treaty network has been extended to include Luxembourg. This is a ground breaking investment development because… Continue reading
Bucharest, 16 June 2017
ARCLIFFE assists C2C Capital / Ascendis Health in the acquisition of Sunwave Pharma
ARCLIFFE Bucharest and Nicosia offices have advised C2C, a South African investment advisory vehicle, on the acquisition process of SunWave business by Ascendis Health… Continue reading
Sofia, 5 June 2017
New Employment Law Rules in Bulgaria
As of January 2017, amendments to the Bulgarian Labour Code mandate certain new protections for Bulgarian nationals working in other European countries. … Continue reading
Bucharest, 20 May 2017
ARCLIFFE Bucharest advised FPE Capital in the acquisition of Masstech
ARCLIFFE Bucharest office has assisted FPE Capital, the leading UK-based growth equity investor, on the Romanian segment of the multi-jurisdictional acquisition of… Continue reading
Prague, 8 May 2017
Draft Law regarding damages arising from anticompetitive behaviours
The Czech Republic is under the obligation to transpose a Directive of the European Parliament and of the Council – specifically directive no. 2014/104/EU dated 26 November 2014… Continue reading
Luxembourg, 28 April 2017
Tax inspectors must now prove misfeasence in EU cross-border mergers
In March, the Court of Justice of the European Union (CJEU) rendered its decision in the Société Euro Park Service, venant aux droits et obligations de la société Cairnbulg Nanteuil v Ministre… Continue reading
Bucharest, 18 April 2017
ARCLIFFE Bucharest advises Sphera Solutions on the Romanian aspects of the acquisition of Rivo Software from Kennet and Eight Roads
ARCLIFFE’s Bucharest office has assisted US trade buyer Sphera Solutions, backed by Genstar Capital, on the Romanian aspects of the acquisition of UK risk management software… Continue reading
Brussels, 5 April 2017
EU Commission Issues New Rules on Concluding Energy Supply Agreements with non EU Member States
The new rules requires EU member states to inform the EU Commission of their plans to negotiate energy supply deals with third countries before opening negotiations have… Continue reading
Budapest, 22 March 2017
New Effective Fees and Stamp Duties related to the Construction Activity and the Companies Incoporation
The Hungarian Parliament has recently enacted legislation relating to certain fees and duties that will reduce the procedural costs for corporate entities doing business in Hungary…. Continue reading
Warsaw, 9 March 2017
ARCLIFFE Warsaw Office Advises Raiffeisen Bank Poland on the Fordonska 2 Office Park in Bydgoszcz
ARCLIFFE’s Warsaw office has advised Raiffeisen Bank Polska SA with respect to the financing of the construction of a Class A office building at Fordońska 2 in Bydgoszcz by FOR2 Group… Continue reading
Bratislava, 20 February 2017
New Type of Investment Fund in Slovakia
A recent amendment to the Collective Investment Act, introduced numerous changes in Slovakia’s collective investment market. The essential change consists in… Continue reading
Nicosia, 3 February 2017
Naturalisation of Investors in Cyprus
The following non-Cypriot natural persons who meet one of the set financial criteria provided below, are eligible to apply for the acquisition of Cypriot citizenship… Continue reading
Bucharest, 20 January 2017
ARCLIFFE Bucharest Office Advises RE Royalties on 10 Million CAD Cross Border Financing of Transeastern Power Trust
ARCLIFFE’s Bucharest office has advised RE Royalties on a 10 million CAD financing of Transeastern Power Trust, a Canadian based energy company, which holds several… Continue reading
Warsaw, 9 January 2017
Transfer Pricing in Poland
From the year 2017 onwards, the obligation to prepare transfer pricing documentation between related companies will remain only with the entities whose revenue in the… Continue reading
Belgrade, 23 December 2016
The Highest Antitrust Fine in Serbia
The Serbian Commission for Protection of Competition (SCPC) has fined EPS Distribution, an electric power distribution system operator, for the abuse of dominant position… Continue reading
Nicosia, 7 December 2016
New remedies for European individuals under the new EU General Data Protection Regulation
The new EU General Data Protection Regulation (GDPR) is due to come into effect on 25 May 2018. The GDPR will provide a new concepts on data protection in the EU and it is… Continue reading
Bucharest, 22 November 2016
Amendment Law Concerning The Payment System In Romania
On 14 November 2016, an amended law was published relating to the introduction of modern payment systems. The amendments are applicable starting with 1 January 2017…. Continue reading
Sofia, 8 November 2016
Highlights Of The Proposed Changes To The Bulgarian Commerce Act
In line with European Union recommendations, Bulgaria has prepared a draft law amending the Bulgarian Commerce Act. The amendments are still in draft and have not… Continue reading
Budapest, 25 October 2016
Call options as security under the Hungarian law
Although the current Hungarian Civil Code does not expressly provider for a call option as a security, it does not prohibit such a security. The first question this raises… Continue reading
Warsaw, 10 October 2016
New Legislation on Warsaw Properties
When the Second World War ended in 1945, Warsaw was in ruins. The new communist government introduced the 1945 Warsaw Land Decree (1945 Decree), which seized… Continue reading
Prague, 3 October 2016
Immovable property acquisition taxation in Czech Republic
On 1 June 2016, the Czech Parliament issued a tax bill that resulted in a change to the levied immovable property acquisition tax. Usually, in the most frequent cases … Continue reading
Budapest, 29 September 2016
New amendment to the Hungarian Civil Code
The purpose of the new amendment to the Hungarian Civil Code, effective as of 1 October 2016, is to make effective the independent mortgage, which was used under the… Continue reading
Sofia, 12 September 2016
How Brexit may impact British property owners in Bulgaria
One of the most popular enquiries after Brexit is how expats and people who own property in Bulgaria will be affected. There are approximately 1.3 million UK citizens living in… Continue reading
Belgrade, 30 August 2016
The New Enforcement and Security Act in Serbia
Serbia’s new Enforcement and Security Act (ESA) was adopted on 18 December 2015, and has become effective as of 1 July 2016. Most importantly, ESA introduces… Continue reading
Prague, 9 August 2016
How to establish a limited liability company in Czech Republic
A limited liability company is the most common corporate form established by foreign investors in Czech Republic. The activity is governed by a Memorandum of Association… Continue reading
Sofia, 25 July 2016
The Bulgarian Supreme Court has repealed cumbersome fee rates under the Public Procurement Act
Pursuant to a judgement dated 29 February 2016, the Bulgarian Supreme Court repealed Regulation No 196 of the Council of Ministers of 10 July 2014 with respect to the approval of… Continue reading
Nicosia, 22 July 2016
Cyprus: Proposed amendment in regards to automatic exchange of information
An important amendment to the Assessment and Collection of Taxes Law (N.4/1978) in Cyprus is currently under consideration by the Council of Ministers regarding automatic… Continue reading
Nicosia, 14 July 2016
Banking Secrecy in Cyprus update
The Automatic Exchange of Information (AEOI) portal provides a comprehensive overview of the work the OECD and the Global Forum on Transparency and Exchange of Information for Tax… Continue reading
Nicosia, 24 June 2016
Brexit – Potential impact on London based private equity managers
On the 23rd of June, the UK voted to leave the European Union. Known as “Brexit”, the UK Government with now initiate Article 50 of the Lisbon Treaty, starting the two year procedure … Continue reading
Bucharest, 24 June 2016
ARCLIFFE Bucharest office advised Copyright Clearence Center
ARCLIFFE Bucharest has advised US based Copyright Clearance Center (CCC), a global licensing and content solutions organization and the leading commercial document-delivery… Continue reading
London, 23 June 2016
ARCLIFFE Boosts Legal Practice in CEE
We are pleased to announce the creation of “ARCLIFFE LLP”, a new consolidated legal practice focused on Emerging Europe, comprising senior attorneys of international pedigree… Continue reading