Corporate and Commercial Law global update 2021

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EY Global

11 May 2021 PDF
Categories Law

Regulations across the globe are constantly evolving. New laws, new decrees and new case law are game changers in many jurisdictions.

In this Corporate and Commercial Law global update, we look to inform companies of the most recent legal news across a number of jurisdictions.

Included are articles from a total of 19 countries on current legal affairs around the globe, covering jurisdictions in Western Europe, Africa, Latin America, Central and Eastern Europe and Asia-Pacific. In the current context of the COVID-19 health crisis, many countries, such as Argentina, Australia, Luxembourg and Germany, have adjusted the rules governing the conduct of meetings of the corporate bodies. Board and shareholders meetings can be held without the physical presence of their members by using telecommunication means or remote voting. These COVID-19-related adjustments come with measures guaranteeing the transparency and the right of all participants to be heard, informed and vote.

In the COVID-19 era, if countries show a willingness to promote the attractiveness of their national corporate law, foreign investments in strategic or sensitive sectors are subject to specific measures. This Corporate and Commercial Law global update brings evidence thereof. Indeed, the limited Partnership Fund Ordinance of Hong Kong provide investors with a new attractive fund structure, while Ontario in Canada, has removed the requirement to have at least 25% of the directors ordinarily resident in Canada. The United Arab Emirates now allow foreign investors to own 100% of a limited liability company subject to certain conditions. In France, while foreign direct investment control is on the news, China has introduced earlier this year a similar foreign investment control. According to the new measures, any foreign investment that has or possibility has an impact on state security will be subject to security review. 

In the Corporate and Commercial Law global update, you will also find a number of new laws and market practices which are important to your businesses, such as the establishment of an UBO register in North Macedonia, the dematerialization of the shares in Poland, the abolition of minimum share capital for private limited company in Belgium, the protection of the consumers right by the Finnish Market Court and many other noteworthy matters.