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Insights September 2022

183 days of war in Ukraine: Tax considerations for refugees and their employers

The war in Ukraine has now passed the 183-day mark. This unfortunate milestone is a reminder to employers with a dispersed workforce of Ukrainian refugees to take a look at the status of these employees. Under many tax treaties mirrored after the OECD Model Treaty, the 183-day period implicates a significant threshold: individuals temporarily present in the treaty-party country (the Host Country) may be taxed by that country on income for personal services performed there if the individual resides in the Host Country for over 183 days in a given tax year. This is called the 183-Day Rule. Few European countries have issued guidance on how they intend to apply the 183-Day Rule to Ukrainian refugees. Although one

Insights September 2022

Kinstellar comments on the advantages and disadvantages of the law on the protection of real estate investors in Ukraine

On 15 August 2022, the Ukrainian parliament adopted draft law No. 5091 "On guaranteeing property rights to real estate objects to be constructed in the future" which should protect investors in Ukraine's primary real estate market. At the invitation of 100realty.ua, Oleksandr Misiats, Junior Associate in our Kyiv office, sheds some light on the advantages and disadvantages of the law to residential investors. The article published in Ukrainian on 100realty.ua portal is available on this link. 

Insights August 2022

Kinstellar overviews the new Ukrainian Law on joint stock companies

On 18 August 2022, the President of Ukraine signed the new Law "On Joint Stock Companies" No. 2493 ("the Law"). It will enter into force on 1 January 2023. The Law was enacted to ensure the fulfilment of Ukraine's obligations under the Association Agreement with the EU regarding the harmonisation of national legislation with EU legislation in the field of corporate governance, as well as to improve Ukraine's position in the World Bank’s “Doing Business” ranking, specifically on the indicator "Protecting Minority Investors".We have prepared a brief overview of the main changes introduced by the Law. Download in English: Download in Ukrainian:

Deals August 2022

Kinstellar advises Kyivstar on the acquisition of a controlling stake in Helsi, in Ukraine

Kinstellar has successfully advised Kyivstar on the acquisition of a controlling stake in Helsi. Kyivstar is the largest digital operator in Ukraine with about 25 million mobile subscribers and over 1.2 million home internet subscribers as of June 2022. The company provides services based on a wide range of mobile and fixed-line technologies, including 4G. Helsi is the largest medical information system and a leading digital provider in the field of healthcare in Ukraine. More than four million people are already users of the Helsi mobile application, with 10 million consultation bookings and three million online consultations per month. More than 1,300 healthcare institutions and over 49,000 doctors throughout

Insights August 2022

Key takeaways from the ongoing reform of labour law in Ukraine

Due to the challenges of martial law and the continued need to adapt labour rules to the modern needs of businesses and employees in Ukraine, Ukrainian labour law is undergoing comprehensive reform. The first part of the reform was implemented in March 2022 with the adoption of the Law of Ukraine “On the Organisation of Employment Relations During Martial Law”, key peculiarities of which we analysed earlier. Ukraine’s parliament recently proceeded with the reform of labour legislation by adopting the Law of Ukraine “On Introduction of Amendments to Certain Laws of Ukraine on the Optimisation of Employment Relations”. This law, which became effective on 19 July 2022, includes (1) amendments to the Labour Code

Setting up July 2022

Setting up operations in Croatia

Today’s uncertainties at the European Union’s eastern border have left companies questioning the safety of their people and the continuity of their operations in that part of the world. Businesses in the IT and BPO sectors that had found talent and growth opportunities in countries such as Ukraine or Moldova are now rethinking their strategy and options to move operations across the border, either temporarily or permanently. Our team in Zagreb has prepared a quick overview of the most important aspects that you need to consider if you decide to move your operations to Croatia.  Download in English: Download in Ukrainian:

Deals June 2022

Kinstellar provides pro bono legal services to Soborna Ukraine

We are excited to announce that Kinstellar has started to provide pro bono legal services to Soborna Ukraine, a public charity established by Ukrainian entrepreneurs after the Russian invasion of Ukraine. Sharing the mission and values of Soborna Ukraine, Kinstellar is advising the organisation on key aspects of implementing their programmes in Ukraine as they manage critical projects close to the front line. This is just the beginning of our long-term partnership to join efforts and help Ukraine. Our pro bono team in Ukraine is managed by Partners Illya Sverdlov and Alla Kozachenko and includes Anna Vizniak, Senior Associate, and Tetiana Kostiuk, Junior Associate. Soborna Ukraine — a US non-profit organisation

News June 2022

Helping Hands for Ukraine: Our recent pro bono activities

At Kinstellar, ‘corporate responsibility’ is not an empty slogan. Helping those in need and playing important roles in our communities have always been a crucial part of our firm culture. Since the outbreak of the war in Ukraine, we have never felt stronger and more united inside the firm. Extraordinary times in Ukraine have been met with an exceptional response from our people, who continue doing their best to provide humanitarian aid, support various charities and NGOs, and provide pro bono legal assistance to those affected by the war. Here we are sharing a brief report of our recent pro bono activities, to be followed by a series of short videos with our people working to support Ukraine.  We thank all of our amazing

Insights June 2022

Merger and concerted action controls in Ukraine: Usual norms are resumed

Starting from 20 June 2022, the Antimonopoly Committee of Ukraine (AMC) will resume merger and concerted action controls in Ukraine as usual, which means that standard merger and concerted action control rules and timelines will apply during the martial law in Ukraine and afterwards. Until then, the AMC᾿s earlier Guidelines on the filing and consideration of applications for merger clearances and concerted actions during martial law (Guidelines) shall apply to all merger and concerted action applications submitted to the authority during 30 March 2022 – 17 June 2022 (inclusive). The AMC also renews consideration of all earlier postponed applications. All those applied to the AMC under special regime provided by the Guidelines

Insights June 2022

The potential inclusion of the Russian Federation in the 'FATF Blacklist' – PART II

The global community is considering various legal and other reactions to the unprovoked, unjustified, and aggressive war launched by the Russian Federation and its satellites against Ukraine. Among potential steps on the table are the inclusion of the Russian Federation to the Black List being administrated by the Financial Action Task Force (the FATF) and recognition of the Russian Federation as a state sponsoring terrorism by the Government of the United States of America. One of them or a combination of these actions could become a firm and far-reaching countermeasure targeting financial stability of the Russian Federation, its satellites, and their war machine. In the second article, our experts Oleksandr Kurdydyk, Partner

Insights June 2022

The potential inclusion of the Russian Federation in the 'FATF Blacklist' – PART I

The global community is considering various legal and other reactions to the unprovoked, unjustified, and aggressive war launched by the Russian Federation and its satellites against Ukraine. Among potential steps on the table are the inclusion of the Russian Federation to the Black List being administrated by the Financial Action Task Force (the FATF) and recognition of the Russian Federation as a state sponsoring terrorism by the Government of the United States of America. One of them or a combination of these actions could become a firm and far-reaching countermeasure targeting financial stability of the Russian Federation, its satellites, and their war machine. Our experts Oleksandr Kurdydyk, Partner, Head of Banking

Insights May 2022

Ukraine introduces a new type of sanction

Since the outbreak of the war in Ukraine, there has been a plethora of new legislation establishing mechanisms for an adequate political and legal response to Russian aggression against Ukraine. Another such mechanism was introduced on 13 May 2022, when the Parliament of Ukraine adopted a new law amending the existing sanctions legislation. The law enacts a new type of sanction amounting to the foreclosure of assets in the state's favour. This new sanction is now applicable to both companies and individuals that cause significant damage to the national security of Ukraine. The law came into force on 24 May 2022. Below we provide important highlights and the main points to consider regarding the new type of sanction