- Latin America
- United Kingdom - Solicitors
- United Kingdom - The Bar
- United States
- Tax Directors Handbook
- What is the GC Powerlist?
- How to nominate in-house counsel
- Africa Teams
- Asia Pacific
- Australia/New Zealand
- Central America
- China and Hong Kong
- Ireland Teams
- Latin America
- Middle East
- Middle East Teams
- Nordics Teams
- Russia Teams
- Southeast Asia
- Switzerland Teams
- Client Intelligence Report
- Human rights insight
- MINT: the legal challenges of working and investing in emerging economies
- Response to Brexit
- An investigation of the GCC and Middle East legal market
- Litigation and regulatory challenges in financial services
- AI and the law tools of tomorrow:
A special report
- Scottish GCs
- North West clients
- Pan-Europe bribery crackdown
- Arbitration backing Africa's investment boom
- Baker McKenzie
- Paul Hastings
- Carlyle Kingswood Global
- GC DIVERSITY AND INCLUSION REPORTS
- Shaping diversity
- By the numbers: Diversity in the US
- How Genius is aiming to overcome the stereotype of male geekiness in technology startups
- Tony West is using his experience to improve diversity and inclusion within PepsiCo
- Prash Naik (Channel 4) talks about the 360° Diversity Charter
- Patrick Rowe describes Accenture's support of diversity
- Shaping the future of the Bar Roundtable
- Chief Marketing Officer Roundtable
- Dispute resolution in Africa roundtable
- GC Diversity and Inclusion Report
- Investing in Indonesia: the role of the in-house lawyer in growing markets
- The Legal Business 100 Debate
- GC Powerlist UK summer reception
- The Brexit debate
- AI and the law
- GC Powerlist: Middle East roundtable
- Alternative disputes: the role of arbitration in Turkey
- The risk debate
- Two visions of nearshoring
- Dissenting perspectives
- Developments in Panama
- The international arbitration summit
- The Global 100 debate - Chasing Alpha
Iceland > Law firm and leading lawyer rankings
- Legal market overview
- Banking, finance and capital markets
- Commercial, corporate and M&A
- Dispute resolution
- EEA and competition
- Maritime and transport
- Real estate and construction
- Restructuring and insolvency
- TMT and IP
- Bosnia and Herzegovina
- British Virgin Islands
- Burkina Faso
- Cayman Islands
- Costa Rica
- Czech Republic
- Dominican Republic
- El Salvador
- Equatorial Guinea
- Hong Kong
- Isle of Man
- Ivory Coast
- Latin America: International firms
- New Zealand
- Puerto Rico
- Saudi Arabia
- South Africa
- South Korea
- Sri Lanka
- St Barts
- St Vincent
- United Kingdom
- United Arab Emirates
- United States
Doing Business in Iceland
Contributed by Lex Law Offices
The business environment
Looking back to the autumn of 2008 who would have believed that in the beginning of the year 2017 Iceland would have a very positive looking economy and be in a very enviable position compared to many western economies. In March 2017 the government of Iceland declared that the currency controls, which have been in place since the global financial crisis in 2008, have been lifted and therefore making investments in Iceland even easier.
Although Iceland experienced a very hard landing in the global financial crisis in 2008, the flip side of the coin were that the dramatic response to the crisis has resulted in a very swift recovery. The sharp depreciation of the Icelandic currency (ISK) resulted in a very positive environment the Icelandic export industries, especially the fisheries and production of electricity which is exported via energy intensive industries such as aluminum smelters, ferrosilicon plants and data centers. On top of that both because of a weak currency and the attention Iceland got because the Eyjafjallajökull eruption in 2010 tourism has grown at an unprecedented rate of more than 25% year on year from 2010 to 2016. This boom in tourism which is by almost all estimates likely to continue for a few years more, has significantly boosted the economy in Iceland but not without side effects that are associated with lots of opportunities for the investment community both locally in Iceland and globally as well.
Legal market overview
Iceland’s capital controls are in the process of being lifted, with a proposed bill to allow individuals to invest ISK100m in securities a year and buy property abroad. Iceland’s Special Prosecutor is now redundant having been absorbed into the newly created District Prosecutor department, which marks the tailing off of the old banks’ white-collar criminal cases. An influx of tourism into the country during 2016 has rejuvenated the hospitality, real estate and commercial sectors, among others, and will remain a big factor in Iceland’s long-term economic recovery.
As restructuring and insolvency work has slowed, corporate and commercial as well as banking and finance work has increased for law firms. Lex Law Offices and LOGOS remain the top firms, with BBA, Juris and Landslog – Law Offices in the chasing pack.
Firms in the spotlight
The firm was founded in 1998 by Baldvin Bjorn Haraldsson and Asgeir A Ragnarsson, and was the first law firm in Iceland to build its practice exclusively on servicing the business sector. This focus has allowed BBA’s lawyers to gain substantial experience and a level of expertise which is second to none in Iceland in, among other areas, corporate law, finance law and general business law.
Mr Bjarnason is the founding partner of Lagahvoll slf., establishing the firm in January 2012, with Mr Sigurðsson joining in 2014 and the first associate joining in 2015. After being established in 2012, the firm has focused on working extensively on company law, as well as financial and restructuring issues, both for financial companies (banks, securities firms and brokerage) and companies in restructuring or winding up proceedings.
Legal Business: country analysis
Breaking new ground – advisers hope shale revolution can restart CEE market
Weighed down by political unrest and slowing economies, energy and infra projects look like one area to be driving
the CEE economy. Can the shale revolution power up
Click here to read the feature.
International comparative guides
Select Practice Area
GC Powerlist -
International comparative guides
Select Practice Area
GC Powerlist -
Search News and Articles
Thailand 4.0 stands for the new stage to transform the country currently relying on heavy industries (3.0 stage) into a creativity and innovation-driven economy. Trade secrets are definitively value-based and could help pursing Thailand 4.0.
As of January 1, 2017, Law No. 6750 on Pledge over Movable Assets in Commercial Transactions (“Movable Pledge Law “), which was enacted on October 20, 2016, entered into force and abolished Law No.1447 on Commercial Enterprise Pledge (“Commercial Enterprise Pledge Law “). The Movable Pledge Law introduces significant changes and offers more practical methods for establishing pledge over movable assets as explained below.
I - Introduction
Anyone who has been caught for tax evasion should expect to be faced with severe penalties. Voluntary disclosure is the only way of returning to a state of normal tax affairs and avoiding penalties.
The Turkish health sector has undergone major reforms over the past ten years as part of the health transformation program. The most important pillar of such program has been the development of public-private partnership (“PPP ”) model health campus projects. More than twenty health campus projects with an investment amount of more than € 10 billion have been developed through PPP model in Turkey. They are currently at different stages ranging from tendering to operation, and more than ten health PPP projects are still in the pipeline.
With the start of operation in certain BOT and other PPP model infrastructure projects in Turkey, refinancing alternatives have become more attractive and diversified. Capital market instruments and institutions are likely to have a greater share in the refinancings of projects which have become operational and the construction risks have been removed. Over the last few years, the use of capital market instruments in the infrastructure financings have gained a new impetus with the introduction of various incentives and financing solutions in this aspect. Most recently, the removal of the 1/3 and 1/5 bond issuance limits for healthcare PPP projects on 18 February 2017 represented an important step towards incentivizing the use of bonds in the healthcare sector. In line with this overall strategy, the government has also adopted various measures to make the Real Estate Investment Companies (“REICs ”) more attractive for the financing/refinancing of infrastructure projects such as BOT, BLT and other PPP projects.
Tender process for 330 km Ankara-Niğde Highway Project has been launched by the General Directorate of Highways upon publication of the tender announcement in the Official Gazette on December 30, 2016.
In line with the government’s objectives to make Turkey a regional hub for natural gas trading, a natural gas spot market has been established by the Natural Gas Organized Wholesale Market Regulation published in the Official Gazette on 31 March 2017.
Philippine Court of Appeals Denies Issuance of Environmental Protection Order Against Mining CompanyIn a decision issued on March 8, 2017, the Philippine Court of Appeals (CA) denied the petition by NGO Ang Aroroy ay Alagaan, Inc. and certain individuals, for the issuance of a writ of kalikasan against Filminera Resources Corporation, and its directors and officers. The petitioners have claimed that Filminera, which operates in the Philippine province of Masbate, had been causing environmental damage in the conduct of its mining operations in violation of local law, and that a writ of kalikasan should be issued.
LIS ALIBI PENDENS UNDER THE COUNCIL REGULATION (EC) NO 44/2001 ON JURISDICTIONAND THE RECOGNITION ANLis Alibi pendens is Latin for ‘suit pending elsewhere .’ Both Articles 27 and 28 of the EU Regulation 44/2001 regulate the existence of lis alibi pendens and related judicial actions. In particular it is a doctrine that regulates the jurisdictional relationship of courts hearing concurrent proceedings involving the same or related causes of action between the same parties pending in the courts of different Member States.
It is possible for a works council to push through the dismissal of an employee, as demonstrated by a recent ruling of the Bundesarbeitsgericht (BAG), Germany’s Federal Labour Court, from March 28, 2017 (Az.: 2 AZR 551/16).
Aziz Rahman explains what those trading internationally need to do to ensure they are not targeted by money launderers.
Health claims in relation to mineral water need to be consistent with the Health Claims Regulation. This was confirmed by the Bundesgerichtshof (BGH), Germany’s Federal Supreme Court, in its ruling of January 30, 2017 (Az.: I ZR 257/15).
On April 25, 2017, American Chamber of Commerce in Serbia and Law office Stankovic and Partners organize a Briefing Session on Data Protection in Arbitration Cases. This event is intended for all the peers interested in finding our more about the challenges with document discovery in arbitration procedure, from the standpoint of data protection issues, local laws and regulations, including international practice. Also, this opportunity will be used to explain data protection during discovery process, including the best international practices. Special emphasis will be placed on the framework of Article 48 of the new EU law (applicable as of May 2018), as well as other relevant issues. The speakers will be Andrej Savin, Associate Professor, Copenhagen Business School, Philip Punwar, Partner at Baker Botts LLP, expert in international arbitration, and Nenad Stankovic, Attorney at Law, Stankovic and Partners.
VEGAS LEX discusses opportunities and problems of Special Investment Contracts at Northern DimensionVEGAS LEX Partner Evgeniy Rodin and Commercial group associate Anastasia Cheredova spoke about the use of various investment options in the energy and pharmaceutical sectors at the Northern Dimension Forum in St. Petersburg.
With the government looking at how to change the law when it comes to prosecuting companies, Aziz Rahman considers the possibilities.
Ben Ticehurst explains why new regulations regarding company payment practices are a sharp reminder of the need to be legally compliant.
With the housing market facing further scrutiny regarding money laundering, Aziz Rahman outlines what those working in the property sector must do to stay within the law.
Post-contractual prohibitions on competition that do not provide for compensation for this period, i.e. a waiting allowance, are null and void. That was the verdict of the Bundesarbeitsgericht (BAG), Germany’s Federal Labour Court, in its ruling of March 22, 2017 (Az.: 10 AZR 448/15).
VEGAS LEX has been recognized in seven categories and four of VEGAS LEX experts has been ranked on the Chambers Europe 2017 international ranking of the best law firms and lawyers around the world.