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Kinstellar expands its Technology, Media and Telecoms (TMT) service line in the Czech Republic
Kinstellar is pleased to announce that Petr Bratský has joined the firm’s Prague office as Head of the local TMT sector and service line. His addition to the firm strengthens our expertise in the TMT area. Petr is an expert in IP/IT/Media and Telecommunications. Before joining Kinstellar, Petr worked more than five years at the leading Czech law firm Havel & Partners. In his practice, he focuses primarily on technology, intellectual property, media and film law and legislative advice. Petr also provides strategic and ad hoc compliance advice on the handling of personal data in various commercial sectors. His expertise includes advising major local and international clients from across different industries
Kuanysh Shekerbekov participates in a panel discussion in connection with the official presentation of the “VC Guide for Founders”
Kuanysh Shekerbekov, Managing Associate of Kinstellar’s Almaty office, participated as a speaker in a panel discussion in connection with the official presentation of the “VC Guide for Founders”. The event took place on 8 April 2022 and was organised by The AIFC Tech Hub, a subdivision of the "Astana" International Financial Center (AIFC), which has the task of promoting the development of the start-up ecosystem, the venture industry, e-commerce, corporate innovation and new technological directions in Kazakhstan (FinTech, GovTech, SatelliteTech, Industry 4.0. etc.). The purpose of the guide is to provide a clear understanding of the opportunities and advantages of the AIFC for structuring venture transactions and
Ukraine: Temporary lifting of requirements for Diia City residents
At the beginning of 2022, a special legal and tax regime for Ukraine-registered tech companies called Diia City became fully operational [for more details please see our overview of the Diia City regime]. Ukrainian tech companies are required to comply with a number of requirements to become Diia City residents and maintain their residency. Due to the introduction of martial law in Ukraine on 24 February 2022, the Cabinet of Ministers of Ukraine has temporarily lifted a number of requirements. Download in English: Download in Ukrainian: For more information, please contact: Illya
Overview of virtual asset regulation in Ukraine
The crypto business has grown exponentially in recent years. Ukraine is no exception to this global trend, as local businesses are also at the forefront of crypto products and innovations (DeFi, NFTs, the metaverse and Web 3.0). However, legal uncertainty in Ukraine has created risks for the sustainable development of the local crypto industry and the investments of conventional business in digital assets. This legal uncertainty has been addressed by the recently adopted legislation, which sets out a regulatory framework to minimise the risk and exposure of digital businesses in Ukraine. Although some provisions are framework in nature and secondary legislation is required, we believe that this new legislation will
Kinstellar advises Vista Equity Partners on its acquisition of Citrix Systems
Kinstellar has successfully advised Vista Equity Partners, a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, on its acquisition of Citrix Systems, Inc. (NASDAQ: CTXS) for approximately USD 16.5 billion. Citrix builds secure, unified digital workspace technologies that help organizations unlock human potential and deliver a consistent workspace experience wherever work needs to get done. Kinstellar advised with respect to the Czech subsidiary of Citrix Systems, Inc., Citrix Systems Czech Republic s.r.o., on the due diligence and regulatory issues. Kinstellar also provided a detailed foreign direct investment (FDI) analysis for the envisaged acquisition.
Kinstellar appoints new Heads of Data & Cybersecurity, IP&T and Telecoms service lines
Kinstellar is delighted to announce the new Service Heads leading our TMT-related service lines: Lukáš Mrázik, Dániel Endre Nagy and Peter Kováč for Data & Cybersecurity; Natalia Kirichenko for IP&T; Anastasiya Bolkhovitinova and Radoslav Chemshirov for Telecommunications. In their new roles as Service Heads they will work with the firm-wide TMT sector team and other sectors to expand and bring a new dimension to our current capabilities across these areas. They will be the first points of contact for incoming client requests and will engage the right lawyers from our team best suited to work on transactions for our clients. Viliam Myšička, head of Kinstellar’s
Ukraine: Tax law required for Diia City regime to go live has been adopted
Ukraine is strengthening its position as an IT hub of choice by adopting new legislation aimed at creating favourable tax and legal conditions for tech companies operating in the country and fostering further investment in the sector. On 14 December 2021, the Ukrainian parliament adopted draft law No. 5376 “On amendments to the Tax Code of Ukraine regarding the Stimulation of the Development of the Digital Economy in Ukraine”, which sets out the tax treatment under the Diia City regime. Together with the previously adopted draft law No. 4303 “On the Stimulation of the Development of the Digital Economy in Ukraine”, this marks the launch in Ukraine of the special legal regime called “Diia City”.
Kinstellar advises Vista on acquisition of Crello and Depositphotos
Kinstellar’s Kyiv office has successfully represented Vista, a Cimpress company (Nasdaq: CMPR), the world leader in mass customization, on its acquisition of the online graphic design editor Crello and a stock photo marketplace Depositphotos for a total price of USD 85 million. The acquisition includes Crello, a rapidly-growing, global leader in do-it-yourself (DIY) digital design. Crello, now rebranded under Vista as VistaCreate, offers a platform that makes it easy for small businesses to enhance their social media and digital design, no matter their design experience. As part of the acquisition, Vista has also acquired Depositphotos, a stock content marketplace with more than 200 million royalty-free images
Software license agreements in Ukraine
The development of technology has led, among other things, to the emergence of different ways of software delivery to the end user. The October issue of Ukrainian legal affairs magazine "Yuryst & Zakon" ("Юрист і Закон") features an article by lawyers from Kinstellar’s Kyiv office — Natalia Kirichenko (Counsel, local Head of Intellectual Property and Technology) and Ivan Shatov (Associate). Topics include the regulation of relationships between software vendors and end-users and the importance of correctly designing the license conditions for the use of software in order to avoid questions about the scope of granted rights. The article was published in issue 41-42 of “Yuryst & Zakon”
Kinstellar advises 4i Capital Partners on the sale of Portmone.com
Kinstellar’s Kyiv office has provided full legal support to 4i Capital Partners, a leading Ukrainian-based private equity firm, on the sale of its controlling stake in the Ukrainian online payment platform Portmone.com to Kaspi.kz, Kazakhstan’s largest financial technology firm. 4i Capital Partners invested in Portmone.com in 2013, which the current Kinstellar team also advised on. Kaspi.kz is a payments, marketplace, and fintech ecosystem developer listed on the London Stock Exchange. Portmone.com is the largest independent provider of online payments and money transfers in Ukraine, offering a portfolio of proven IT payment solutions for banking, mobile, e-commerce and service industries. Kinstellar’s team
Kinstellar advises Nuix Limited on the acquisition of Topos Labs
Kinstellar’s Kyiv office has successfully advised Australian-based global software developer Nuix Limited (Nuix; ASX:NXL) on the Ukrainian-law implications of its acquisition of 100% of the shares in Topos Labs for up to USD 25 million. Headquartered in Boston, USA, Topos develops AI-driven Natural Language Processing (NLP) software designed to reduce the workload of data reviewers and analysts by surfacing relevant or risky content faster. Kinstellar’s team in Kyiv was led by Anastasiya Bolkhovitinova (Counsel, Head of the local TMT sector) and Natalia Kirichenko (Counsel, Head of the local Intellectual Property & Technology services), with key support from Olena Stanishevska and Anna Vizniak (Associates).
“Diia City”: A special legal and tax regime for IT companies in Ukraine is coming into play
On 14 August 2021, the Law “On Stimulation of the Development of the Digital Economy in Ukraine” No. 4303 (“Diia City Law“) came in force. Diia City legal framework The Diia City Law introduces a general framework for launching a special IT industry regime in Ukraine called Diia City, which is aimed at creating favorable conditions for companies operating in the tech sector. The regime will be valid for an unlimited period but not less than 25 years. The status of a Diia City resident will be available only to Ukrainian companies that meet the criteria provided by the Diia City Law, in particular: the minimum average monthly remuneration of employees / gig workers is EUR 1,200;