Latest News

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

ARCLIFFE LLP is a full service CEE regional law firm. With eight offices and over 60 lawyers, we cover twenty-two jurisdictions from Vienna to Moscow, from the North Sea to the Mediterranean.
ARCLIFFE LLP’s partners are former senior lawyers (including partnership level) from major international law firms, such as Clifford Chance, Linklaters, CMS Cameron McKenna, Debevoise & Plimpton, Dentons, Kinstellar, Gide Loyrette, Bird & Bird, Wolf Theiss, and White & Case. We are your Emerging Europe legal partner.
For additional information, please contact us at info@arcliffe.com