Lawyer's Blogs

Currently, many types of fraud with bank accounts (both in classic and digital banks) have been identified and explained, numerous recommendations and warnings have been issued to prevent losses from fraudsters. The vast majority of bank clients have accepted the fact that million winnings or an unrealistic amount of inheritance is a complete deception. However, the continuous progress of modern technologies, unfortunately, encourages criminals to intensify their efforts in fraudulent schemes, the goal of which is their own enrichment through the theft of money. Therefore, we would like to remind you of the key safety rules in such tools for managing your non-cash finances as Internet banking (a service for remote access to all your accounts in a financial institution) and payment cards. When you log in to Internet banking, you get to your personal account. Usually, in Internet banking, fund transfer operations are available, and for this you do not even need a computer, but a mobile phone with an installed banking program is enough. For the safe use of Internet banking, it is important to follow the following rules: 1) Minimize the use of Internet banking from a mobile phone...

The focus of today's blog is the peculiarities of tax residency conflicts, in which several countries consider a person to be their tax resident, and, accordingly, double taxation and the role of bilateral agreements in the settlement of these issues. For clarity, let's take as an example the provisions of the Cypriot legislation regarding tax residency. This is especially relevant for Ukrainians who were forced to go abroad due to the war and chose Cyprus as their country of residence. When will I become a Cyprus resident? Perhaps, for many, the concepts of "resident", "domicile" and "non-domiciled residents" are already familiar. In this block, we offer to recall them and understand how these concepts affect taxation in practice. To determine a natural person as a resident of Cyprus, two tests of length of stay are used - the 183-day test and the 60-day test. First, a person is recognized as a resident of Cyprus if he is on the territory of Cyprus for more than 183 days during a calendar year. At the same time, other criteria, for example, the center of vital interests, are not taken into account. Secondly, a person can become a resident of Cyprus if he stays in the...

Serbia amends the Law on the procedure for registering companies with the Commercial Registers Agency (AKR). The changes require the filing of applications for company registration with the AKP in electronic form. These changes in the Serbian legislation are adopted to implement the direction of the government of the digitalization of the economy and electronic services. The provision of paragraph 2 of Article 9 of the Law will enter into force in full on May 16, 2023, therefore, filing an application for registration in paper form with a certified constituent act will be prohibited. In addition to the possibility to submit documents for company registration in electronic form, there are other changes in the corporate legislation of Serbia. The right to certify a digitized document by a lawyer. New changes give the right to digitize documents and confirm the identity of the applicant when registering a company by lawyers registered in the list of lawyers of the Serbian Bar Association. The lawyer signs the application with his electronic signature (qualified electronic signature). The lawyer is obliged to keep the original document, which he digitized and submitted to the...

One of the most common grounds for issuing a residence permit in Lithuania is doing business in Lithuania. If a foreigner plans to develop his business in Lithuania and reside here, he can establish or buy an enterprise in Lithuania and develop the planned business. In case of foundation or purchase of an enterprise, a foreigner who is a participant, shareholder or member of the management body of the enterprise being created or acquired, may apply for a temporary residence permit in Lithuania, under the following conditions: A Lithuanian company has been operating for at least 6 months before applying for a residence permit in Lithuania; The authorized capital of the enterprise is not less than 28,000 euros, including 14,000 euros invested by the foreigner; The value of shares owned by a foreigner is at least 1/3 of the value of the company's shares; Citizens of Lithuania, other member states of the European Union or member states of the European Free Trade Association or foreigners permanently residing in Lithuania work in a Lithuanian company on a permanent basis, the monthly salary (of all employees) is at least 2 average monthly salaries in...