DOING TRADE AND INVESTING IN KOSOVO Investing in Key Sectors - Legal framework - US-Kosovo...
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DOING TRADE AND INVESTINGIN KOSOVO
Investing in Key Sectors- Legal framework -
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KALO & ASSOCIATES - leading law firm in Albania (since 1994) and Kosovo (since 2008) and acts as legal counsel to major investors, and IFIs. Portfolio of clients includes many US companies
like: * Albanian-American Enterprise Fund * Affiliated Computer Services * Agrimatco * ALPHARMA * Aspect Holdings * Avon * Bechtel * Cargill * Chemonics * Chevron * Cisco Systems * CIT Aerospace * Citibank * Colgate-Palmolive * Cummins Engines * DDB * Fluor Corporation * Ford Motor Company * Fox TV * GE * Heifer International * Kodak * HP * Levi’s Footwear * Lockheed Martin * McCann Erickson * Merck * Mercy Corps * Merrill Lynch * Microsoft * Monsanto * Morgan Stanley * NAVTEQ * OXY * Opportunity International * ORBCOMM * Phillip Morris * MANAS Petroleum * Schering-Plough * Sikorsky * SRA International * Unilever * Via One Labs * Walt Disney * Washington Group * Western Union * Wrigley *
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KALO & ASSOCIATES Kosovo, acts as counsel to investors from other countries, such as:
AirBP (UK), NewkoBalkan (Turkey), Xella (Germany), Alcatel-Lucent (Italy), Nokia-Siemens Networks (Austria), Ericsson (Croatia), Sava Re (Slovenia), Albaelettrica (Albania), ALPET (Turkey), Hellenic Petroleum (Greece), Thomson Reuters (UK), Poseidon (UK), Friedrich Ebert Stifftung (Germany), SNV (Holland), etc.
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WHY KALO & ASSOCIATES? BECAUSE:
1)we have good track record in Albania in relation with investments or trade by US companies
2)we have a significant workforce with lawyers having earned law degree and LLM in Western schools , including two from Suffolk, Boston
3)we have a good number of partners (6), 2 of which are very experienced local lawyers
4)we have significant experience in the drafting of commercial legislation in Albania and therefore can easily foresee legal challenges a business will have to face there.
OVERVIEW ON THE LEGAL SYSTEM
1) Civil Law system, inherited by Austrian-Hungarian Empire, but recently adopted Common Law principles
2) System that functions based on co-existence of three sets of laws:
(a) laws deriving from the former Yugoslav Federation;
(b) laws enacted during the administration by UNMIK and
(c) laws enacted by the Kosovan Parliament prior and after the declaration of Independence
3) Judiciary - three tier court system (including appellate courts) 4) Specialized courts for commercial disputes 5) New law on Judiciary to introduce an Administrative Court
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LEGAL FRAMEWORK IN ENERGY AND INFRASTRUCTURE:
Modern Industry Legislation
Flexibility on governing law/dispute resolution(possibility to negotiate limitation of liability)
Enforceability of contract (freedom to contract,
Institutional Memory
Reliable Appeal Procedure US-K
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COMMERCIAL LEGISLATION
Bilateral Agreements Foreign Investments Contract law Company law Competition law
Public Procurement Concessions Law Property/real rights
Arbitration law Intellectual Property Planning law Fortune games lawMoney laundering Consumers protectionBanking law SME-s law
EFFECTIVE TREATIES:
1) MoU between USA-UNMIK, 17.1.20022) MoU between EBRD-UNMIK, 4.3.20053) Free Trade Agreements with many countries4) Bilateral agreement between Kosovo and of
Luxembourg5) Bilateral agreement between Kosovo and
Denmark6) Bilateral agreement between Kosovo and
Slovenia7) Bilateral agreement between Kosovo and Turkey8) Signatory to OPIC9) Signatory to World Bank/CSID, etc. U
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KEY SECTORS OPPORTUNITIES
A wave of privatizations:KEKPTKSHARRCEMZHUR HPPKOSOVA E REBREZOVICAKOSOVO LANDFILL CO.
Investments in rural tourismIndustrial parks
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ENFORCEMENT OF CLAIMS
Functioning of bailiffs service yet to improve.
A proposal is being discussed to introduce an alternative force – private bailiffs
Develop the alternative dispute resolution mechanisms within the court system
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KOSOVO is a country with great potential and recently has demonstrated to have a healthy business environment, however it is recommended to:
Approach qualified lawyers and surveyors and also other experts to conduct a Due Diligence on the intended investment
In case of acquisitions, try to explore the status of the Escrow so that payment is held in escrow until all CP-s are satisfied by the seller
Check all possible guarantees that Kosovo State may give as a state
Find the location with best tax status with Kosovo and form a SPV there to implement the Kosovo project U
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Hope these slides were useful!
However, should you have questions
feel free to contact us at:
www.kalo-attorneys.com
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