COUNCIL DECISION
of 22 November 2004
on the signing and provisional application of an Additional Protocol to the Agreement establishing an association between the European Community and its Member States, of the one part, and the Republic of Chile, of the other part, to take account of the accession of the Czech Republic, the Republic of Estonia, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Republic of Hungary, the Republic of Malta, the Republic of Poland, the Republic of Slovenia and the Slovak Republic to the European Union
(2005/106/EC)
Sole Article
ADDITIONAL PROTOCOL
to the Agreement between the European Community and its Member States,of the one part, and the Republic of Chile, of the other part, to take account of the accession of the Czech Republic, the Republic of Estonia, the Republic of Cyprus,the Republic of Latvia, the Republic of Lithuania, the Republic of Hungary, the Republic of Malta, the Republic of Poland, the Republic of Slovenia,and the Slovak Republic to the European Union
SECTION I
CONTRACTING PARTIES
Article 1
SECTION II
TRADE IN GOODS
Article 2
SECTION III
RULES OF ORIGIN
Article 3
Article 4
Article 5
Article 6
SECTION IV
TRADE IN SERVICES AND ESTABLISHMENT
Article 7
Article 8
Article 9
Article 10
SECTION V
GOVERNMENT PROCUREMENT
Article 11
SECTION VI
WTO
Article 12
SECTION VII
GENERAL AND FINAL PROVISIONS
Article 13
Article 14
Artilce 15
ANNEX I
Amendments to Community Tariff Elimination Schedule
CN code |
Description |
Quantity |
0703 20 00 |
Garlic |
30 tons |
ex08061010 |
Grapes (1/1 to 14/7) |
1 500 tons |
0810 50 00 |
Kiwi |
1 000 tons |
CN code |
Description |
Quantity (1) |
0303 29 00 |
Other frozen fish excluding fillets |
725 tons |
0303 78 12 |
Argentine hake |
|
0303 78 19 |
Hake — other |
|
0304 20 53 |
Frozen fillets of mackerel |
|
0304 20 56 |
Frozen fillets of argentine hake |
|
0304 20 58 |
Frozen fillets of other hake |
|
0304 20 91 |
Frozen fillets of blue grenadier |
|
0304 20 95 |
Other frozen fillets |
|
0304 90 05 |
Surimi |
CN code |
Description |
Quantity (2) |
1604 15 19 |
Prepared or preserved mackerel |
90 tons |
ANNEX II
New language versions of administrative remarks contained in Annex III to the Association Agreement
ANNEX III
"Appendix III
SPECIMEN OF MOVEMENT CERTIFICATE EUR.1. AND APPLICATION FOR A MOVEMENT CERTIFICATE EUR.1
Printing instructions
Procedure for completion
ANNEX IV
‘Appendix IV
Invoice declaration
Specific requirements as for the making out of an invoice declaration
English version
Spanish version
Danish version
German version
Greek version
French version
Italian version
Dutch version
Portuguese version
Finnish version
Swedish version
Czech version
Estonian version
Latvian version
Lithuanian version
Hungarian version
Maltese version
Polish version
Slovene version
Slovak version
ANNEX V
(ANNEX VII to the Agreement referred to in Article 99 of the Agreement)
SCHEDULE OF SPECIFIC COMMITMENTS ON SERVICES
PART A
Community's schedule
Introductory note
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||
All sectors included in this schedule |
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
HU: Commercial presence should take the form of limited liability company, joint-stock company, branch or representative office. |
Formation of Legal entity
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
Law on foreign companies' branches
|
Law on foreign companies' branches
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
Legal entities:
|
FI: A foreigner living outside the European Economic Area and carrying on a trade as a private entrepreneur or as a partner in a Finnish limited or general partnership needs a trade permit. If a foreign organisation or foundation which is resident outside the European Economic Area intends to carry on a business or trade by establishing a branch in Finland, a trade permit is required. FI: If at least half of the members of the board or the Managing Director are resident outside the European Economic Area, permission is required. Company exemptions may, however, be granted. SK: A foreign natural person whose name is to be registered in the Commercial Register as a person authorised to act on behalf of the entrepreneur is required to submit a residence permit for the Slovak Republic |
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
Real estate purchases: DK: Limitations on real estate purchase by non-resident physical and legal entities. Limitations on agricultural estate purchased by foreign physical and legal entities. EL: According to Law No 1892/89 permission from the Minister of Defence is needed for a citizen to acquire land in areas near borders. According to administrative practices permission is easily granted for direct investment. CY: Unbound. HU: Unbound for the acquisition of State owned property. LT: Unbound for the acquisition of land by juridical and natural persons. MT: Unbound for the acquisition of real property. LV: Unbound in relation to acquisition of land by juridical persons. Land lease not exceeding 99 years permitted. PL: Unbound in relation to acquisition of state-owned property, i.e. the regulations governing the privatisation process (for mode 3). SI: Juridical persons, established in the Republic of Slovenia with foreign capital participation, may acquire real estate on the territory of the Republic of Slovenia. Branches(4) established in the Republic of Slovenia by foreign persons may only acquire real estate, except land, necessary for the conduct of the economic activities for which they are established. Ownership of real estate in the border areas of 10 km by companies in which majority of capital or voting rights belongs directly or indirectly to juridical persons or nationals of another Member State is subject to special permission. SK: None except for land (for modes 3 and 4) |
Real estate purchases: AT: The acquisition, purchase as well as rent or lease of real estate by foreign natural persons and legal persons requires an authorisation by the competent regional authorities (Länder) which will consider whether important economic, social or cultural interests are affected or not. IE: Prior written consent of the Land Commission is necessary for the acquisition of any interest in Irish land by domestic or foreign companies or foreign nationals. Where such land is for industrial use (other than agricultural industry), this requirement is waived subject to a certificate to this effect from the Minister for Enterprise and Employment. This law does not apply to land within the boundaries of cities and towns. CZ: Limitations on real estate acquisition by foreign natural and legal entities. Foreign entities may acquire real property through establishment of the Czech legal entities or participation in joint ventures. Acquisition of the land by foreign entities is subject to authorisation. HU: Unbound for the acquisition of real estate by foreign natural persons. LV: Unbound in relation to acquisition of land by juridical persons. Land lease not exceeding 99 years permitted. PL: Acquisition of real estate, direct and indirect, by foreigners and foreign legal persons requires permission SK: Limitations on real estate acquisition by foreign physical and legal entities. Foreign entities may acquire real property through establishment of Slovak legal entities or participation in joint ventures. Acquisition of the land by foreign entities is subject to authorisation (for modes 3 and 4). |
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
IT: Unbound for purchase of real estate. FI (Åland Islands): Restrictions on the right for natural persons who do not enjoy regional citizenship in Åland, and for legal persons, to acquire and hold real property on the Åland Islands without permission by the competent authorities of the islands. FI (Åland Islands): Restrictions on the right of establishment and the right to provide services by natural persons who do not enjoy regional citizenship in Åland, or by any legal person, without permission by the competent authorities of the Åland Islands. |
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
Investments: FR: Foreign purchases exceeding 33,33 % of the shares of capital or voting rights in existing French enterprise, or 20 % in publicly quoted French companies, are subject to the following regulation:
FR: Foreign participation in newly privatised companies may be limited to a variable amount, determined by the government of France on a case by case basis, of the equity offered to the public. ES: Investment in Spain by foreign government and foreign public entities (which tends to imply, besides economic, also non-economic interests to entity's part), directly or through companies or other entities controlled directly or indirectly by foreign governments, need prior authorisation by the government. PT: Foreign participation in newly privatised companies may be limited to a variable amount, determined by the Government of Portugal on a case-by-case basis, of the equity offered to the public. IT: Exclusive rights may be granted or maintained to newly-privatised companies. Voting rights in newly privatised companies may be restricted in some cases. For a period of five years, the acquisition of large equity stakes of companies operating in the fields of defence, transport services, telecommunications and energy may be subject to the approval of the Ministry of Treasury. FR: For establishing in certain(5) commercial, industrial or artisanal activities, a specific authorisation is needed if the managing director is not holder of a permanent residence permit. |
Investments: CY: Entities with foreign participation must have paid up capital commensurate with their finance requirements and non-residents must finance their contribution through the importation of foreign exchange. In case the non-resident participation exceeds 24 %, any additional financing for working capital requirements or otherwise should be raised from local and foreign sources in proportion to the participation of residents and non-residents in the entity's equity. In the case of branches of foreign companies, all capital for the initial investment must be provided from foreign sources. Borrowing from local sources is only permitted after the initial implementation of the project, for financing working capital requirements. HU: Unbound for the acquisition of State-owned properties. LT: Investments in organising lotteries are forbidden under the Law on Foreign Capital Investment. MT: Companies with the participation of non-resident legal or natural persons are subject to the same capital requirement applicable to companies that are fully owned by residents as follows: private companies — Lm 500 (with a minimum of 20 % as paid up capital); public companies — Lm 20 000 (with a minimum of 25 % paid up capital). The non-resident percentage of share of the equity is to be paid for with funds emanating from abroad. Companies with non-resident participation must apply for a permit from the Ministry of Finance to acquire premises under the appropriate legislation. |
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
CY: The permission of the Central Bank is required for the participation of any non-resident in a corporate body or partnership in Cyprus. Foreign participation in all sectors/subsectors included in the Schedule of Commitments is normally limited up to 49 %. The decision of the authorities to grant permission for foreign participation is based on an economic needs test, for which the following criteria are used in general:
In exceptional cases, in which a proposed investment satisfies most of the economic needs test criteria to a large extent, permission for foreign participation exceeding 49 % may be granted. In the case of public companies, foreign equity participation is normally allowed to the extent of up to 30 %. In Mutual Funds the extent of allowable foreign ownership is 40 %. Corporate bodies have to be registered under the Companies Law. Same law requires that a foreign company wishing to establish a place of business or an office in Cyprus must register it as a foreign branch. For the registration the prior approval of the Central Bank is required under the Exchange Control Law. Such approval is subject to the foreign investment policy applicable at the time with regard to the corporate body's proposed activities in Cyprus and the general investment criteria stipulated above. |
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
HU: Unbound for the acquisition of State-owned properties. MT: The Companies Act (Cap.386) regulating the supply of services by non-residents through the registration of a local company and the External Transactions Act (Cap. 233) which regulates the issue, acquisition, sale and redemption of securities not listed on the Malta Stock Exchange shall continue to apply. PL: Authorisation of the establishment of a company with foreign equity is required in the case of
SI: For financial services, authorisation is issued by the authorities indicated in sector specific commitments and according to conditions indicated in sector specific commitments. There are no limitations on establishment of a new business establishment (greenfield investments). |
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
Subsidies Eligibility for subsidies from the Community or Member States may be limited to legal persons established within the territory of a Member State or a particular geographical subdivision thereof. Unbound for subsidies for research and development. Unbound for branches established in a Member State by a non-Community company. The supply of a service, or its subsidisation, within the public sector is not in breach of this commitment. Commitments taken in this schedule do not require the Community or Member States to offer a subsidy to a service supplied from outside its territory. To the extent that any subsidies are made available to natural persons, their availability may be limited to nationals of a Member State. |
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
Exchange regime(6) (7) (8): 1, 2. SK: In relation to current payments, limitation on acquisition of foreign exchange by resident nationals for personal purposes. In relation to capital payments, foreign exchange authorisation required for acceptance of financial credits from foreign subjects, direct capital investments abroad, acquisition of real estate abroad and purchase of foreign securities. |
Exchange regime(9)
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
Community directives on mutual recognition of diplomas do not apply to nationals of third countries. Recognition of the diplomas which are required in order to practise regulated professional services by non-Community nationals remains within the competence of each Member State, unless Community law provides otherwise. The right to practise a regulated professional service in one Member State does not grant the right to practise in another Member State. |
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
Residency requirements AT: Managing directors of branches and legal persons have to be resident in Austria; natural persons responsible within a legal person or a branch for the observance of the Austrian Trade Act must be resident in Austria. MT: Immigration regulations under the Immigration Act (Cap 217) will regulate the issue of residency permits/documents. |
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
FR: The managing director of an industrial, commercial or artisanal activity(5), if not holder of a residence permit, needs specific authorisation. |
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
IT: Access to industrial, commercial and artisanal activities is subject to a residence permit and specific authorisation to pursue the activity. |
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
FR: Host country law and international law (including EC law) are open to the Members of the regulated legal and judicial profession.(15) |
||||||||||||||||||||||||||
|
CZ: No limitation involving foreign law. For activities involving national law acceptance in the Czech Bar Association or in the Czech Chamber of Commercial Lawyers is required EE: None for CPC 86190. For CPC 861 other than CPC 86190, commercial presence is restricted to sole proprietorships or to law firms with limited liability, in which cases permission is needed from the Bar Association (Advokatuur). According to the Bar Statute/Advokatuuri pohimäärus) only Estonian nationals are allowed to establish a lawyer's office. To be accepted into the Bar Association the following requirements should be met:
HU: Commercial presence should take the form of partnership with a Hungarian barrister (ügyvéd) or a barrister's office (ügyvédi iroda), or representative office LV: None for consultancy on home country and public international law. For CPC 861 other than consultancy on home country and public international law, licence issued by the Ministry of Justice and knowledge of Latvian language required. Licensed lawyers may provide all legal services, except representation in criminal proceedings. Representation in criminal proceedings permitted only to sworn solicitors. Nationality requirement for sworn solicitors and sworn notaries. Sworn solicitors and sworn notaries have to be at least 25 years old, having knowledge of Latvian language, graduated from University of Latvia or from another university recognised as equivalent by the Faculty of Law, University of Latvia, and having practical experience. Sworn solicitors have to pass an examination in accordance with rules set up by the Council of Sworn Solicitors. Sworn notaries have to pass an examination in accordance with the order set up by the Minister of Justice in cooperation with the Council of Sworn Notaries. |
EE: None for CPC 86190. Unbound for CPC 861 other than CPC 86190. SI: Conditions for acceptance into the Bar Association for lawyers who are not Slovenian nationals and have a licence to practise in another Member State, must have a certificate of knowledge of the Slovenian law and must be proficient in the Slovene language SK: Barristers and commercial lawyers in Slovak law are required to be graduates of Slovak universities |
|
||||||||||||||||||||||||||
|
PL: Establishment subject to authorisation. Nationality requirement SI: Commercial presence is restricted to sole proprietorship or to a law firm with unlimited responsibility (partnership) only. Only lawyers with licence to practise may be partners. For activities involving national law acceptance into the Bar Association (Odvetni{ka zbornica Slovenije) is required. Consent of the Bar Association is required for the establishment of any law firm. Conditions for acceptance into the Bar Association for lawyers who are not Slovenian nationals and have a licence to practice in another Member, must have a certificate of knowledge of the Slovenian law and must be proficient in the Slovene language. Notaries public are persons performing a public service. Concession rights may be acquired by licence. SK: No limitation involving foreign law. For activities involving national law acceptance in the Slovak Bar Association or in the Slovak Chamber of Commercial Lawyers is required. |
|
|
||||||||||||||||||||||||||
|
SE: When supplying legal advice as ‘Advokat’, practising of the profession in cooperation with other persons than other ‘advokats’ or in the form of a limited liability company (joint stock company) is not permitted, unless certain conditions are met. LU: Host country law and international law(16) subject to registration as ‘avocat’ at the Luxembourg Bar |
SE: When appearing under the title ‘Advokat’ (lawyer, solicitor/barrister) membership in Swedish Bar Association is required. Swedish or EEA (European Economic Area) citizenship and residency are required for such membership. When a person authorised as an ‘Advokat’ in a State within the EEA wishes to practise law on a permanent basis in Sweden under his or her home country professional title, he/she shall register with the Swedish Bar Association. |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
LV: For CPC 861 other than consultancy on home country and public international law, licence issued by the Ministry of Justice and knowledge of Latvian language required. Licensed lawyers may provide all legal services, except representation in criminal proceedings. Representation in criminal proceedings is permitted only to sworn solicitors. Nationality requirement for sworn solicitors and sworn notaries. Sworn solicitors and sworn notaries have to be at least 25 years old, having knowledge of Latvian language, graduated form University of Latvia or from another university recognised as equivalent by the Faculty of Law, University of Latvia, and having practical experience. Sworn solicitors have to pass an examination in accordance with rules set up by the Council of Sworn Solicitors. Sworn notaries have to pass an examination in accordance with the order set up by the Minister of Justice in cooperation with the Council of Sworn Notaries. |
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES, SE and UK as indicated in the horizontal section under (iii), subject to the above conditions and the following specific limitations: BE, DE, DK, ES, SE and UK: University degree and professional qualifications and three years' professional experience in the sector. DE: Unbound for activities reserved to ‘Rechtsanwalt’. BE: Economic needs test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. |
Unbound except for BE, DE, DK, ES, SE and UK as indicated in the horizontal section under (iii): DK: Marketing of legal advice activities is restricted to lawyers with a Danish licence to practise. Requirement of a Danish legal examination in order to obtain a Danish licence to practise. SE: When appearing under the title ‘Advokat’ (lawyer, solicitor/barrister) membership of the Swedish Bar Association is required. Swedish citizenship and residency are required for such membership. |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
LV: The owner of shares or the head of a firm should be qualified as a sworn auditor in Latvia. Sworn auditors can be persons no younger than 25 years and: (a) having a high school degree in economics or in other specialities, if an examination on basic economics is passed; (b) having at least three years experience in auditing recognised by the Latvian Association of Sworn Auditors; (c) who have passed a qualification examination and acquired licence of sworn auditor in accordance with requirements of Latvian Association of Sworn Auditors; (d) having an excellent reputation. SI: Commercial presence should take the form of a juridical person |
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
Unbound except for AT, BE, DE, DK, ES, LU, NL, UK, SE as indicated in the horizontal section under (iii) and subject to the above conditions and the following specific limitations: AT, BE, DE, DK, ES, NL, UK, SE: University degree and professional qualifications and three years' experience in the sector. AT: examination before the Austrian professional body. The employer must be member of the relevant professional body in the home country where such body exists. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. DE: Unbound for activities reserved by law in the ‘Wirtschaftsprüfer’. LV: The owner of shares or the head of a firm should be qualified as a sworn auditor in Latvia. Sworn auditors may be persons no younger than 25 years and:
SI: limitations on natural persons employed by juridical persons only |
Unbound except for AT, BE, DE, DK, ES, LU, NL, UK, SE as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
AT: Foreign auditors' (who must be authorised according to the law of their home country) equity participation and shares in the operating results of any Austrian legal entity may not exceed 25 %; this applies only to non-members of the Austrian Professional Body. |
|
|
||||||||||||||||||||||||||
|
CY: Access is restricted to natural persons who have obtained authorisation from the Minister of Finance. Authorisation is subject to economic needs test. The criteria used are analogous to those for granting permission for foreign investment (listed in horizontal section) as they apply to this subsector, always taking into consideration the employment situation in the subsector. Professional associations (partnerships) among natural persons are permitted. No body corporate is allowed. |
|
|
||||||||||||||||||||||||||
|
CZ: Auditing may be provided by natural or juridical persons registered in the auditors list of the Chamber of Auditors. In case of juridical persons, at least 60 % of capital share or voting rights are reserved for Czech nationals. |
|
|
||||||||||||||||||||||||||
|
LV: The owner of shares or the head of a firm should be qualified as a sworn auditor in Latvia. Sworn auditors can be persons no younger than 25 years and:
|
|
|
||||||||||||||||||||||||||
|
LT: None, except not less than 75 % of shares should belong to auditors or auditing companies. The establishment is allowed through all kinds of legal forms of companies except Public Stock Corporation (AB). Qualification requirements for auditors in the country of origin of those auditors or auditing companies should be not lower than in Lithuania. PL: Nationality requirement. Foreign auditors may practise after confirmation of their qualifications. SI: Commercial presence should take the form of a juridical person. The share of foreign persons in auditing companies may not exceed 49 % of the equity. Provision through auditing companies only. SK: Auditing may be provided by natural or juridical persons registered in the auditors list of the Chamber of Auditors. In case of juridical persons at least 60 % of capital share or voting rights are reserved for Slovak nationals. |
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
IT: Residency requirement for ‘Ragionieri-Periti commerciali’. Audit companies: administrators and auditors in ‘società di revisions’ other than those covered by the eighth EEC Directive on company law, must fulfil a residency condition. FI: At least one of the auditors of a Finnish Liability company must be resident in one of the EEA (European Economic Area) countries or an authorised auditing company. SE: Only auditors approved in EEA may perform legal auditing services in certain legal entities, i.e. in all limited companies. Only such persons may be share-owners or form partnership in companies which practice qualified auditing (for official purposes). LV: The owner of shares or the head of a firm should be qualified as a sworn auditor in Latvia. Sworn auditors can be persons no younger than 25 years and:
|
|
|
||||||||||||||||||||||||||
|
PL: Nationality requirement. Foreign auditors may practise after confirmation of their qualifications. SI: Limitations on natural persons employed by juridical persons only. |
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) and subject to the above conditions and the following specific limitations: BE, DE, DK, ES: University degree and professional qualifications and three years' professional experience in the sector. BE: Economic needs test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. DE: Unbound for activities reserved by law in the ‘Wirtschaftsprüfer’. |
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
LV: The owner of shares or the head of a firm should be qualified as a sworn auditor in Latvia. Sworn auditors may be persons no younger than 25 years and:
SI: Commercial presence should take the form of a juridical person. |
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
Unbound except for AT, BE, DE, DK, ES, LU, NL, UK, SE where: as indicated in the horizontal section under (iii) and subject to the following specific limitations: AT, BE, DE, DK, ES, NL, UK, SE: University degree and professional qualifications and three years' experience in the sector. AT: examination before the Austrian professional body. The employer must be member of the relevant professional body in the home country where such body exists. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. DE: Unbound for activities reserved by law in the ‘Wirtschaftsprüfer’. |
Unbound except for AT, BE, DE, DK, ES, LU, NL, UK, SE as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
AT: At the request of a consumer tax advisors may temporarily move into the territory of Austria in order to supply a specific service; however, as a rule natural persons supplying taxation services are required to have their professional centre (commercial presence) in Austria. HU: Permanent residency requirement |
|
|
||||||||||||||||||||||||||
|
Unbound except for AT, BE, DE, DK, ES, LU, NL, UK, SE where: as indicated in the horizontal section under (iii) and subject to the following specific limitations: AT, BE, DK, ES, NL, UK, SE: University degree and professional qualifications and three years' experience in the sector. AT: Examination before the Austrian professional body. The employer must be member of the relevant professional body in the home country where such body exists. DE: Unbound except for consulting services related to foreign tax law, where: university degree and professional, qualifications and three years' professional experience in the sector. |
Unbound except for AT, BE, DE, DK, ES, LU, NL, UK, SE where: as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
LV: The practice of three years in Latvia in the field of projecting and university degree required to receive the licence enabling business activity with full range of legal responsibility and rights to sign a project SK: Authorisation by the Slovak Chamber of Architects is required. Authorisation by analogous foreign institutions may be recognized. Natural and juridical persons may provide architectural services only by authorised architects. Condition of nationality and residence is required, however exceptions might be considered |
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES, EE, LU, NL, UK, SE where: as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, NL, UK, SE: University degree and professional qualifications and three years' professional experience in the sector. EE: A university degree and five years of working experience in a related field. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. ES: Academic and professional qualifications recognized by the national authorities and licence delivered by the Professional Association. Unbound for CPC 86713, 86714, 86719. |
Unbound except for BE, DE, DK, ES, EE, LU, NL, UK, SE where: as indicated in the horizontal section under (iii) and subject to the following conditions: DE: Use by third country qualified professionals of the professional title is only possible on the basis of mutual recognition agreements. DE: Application of the national rules on fees and emoluments for all services which are performed from abroad. |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES, EE, NL, UK, SE as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES, NL, UK, SE: University degree and professional qualifications and three years' professional experience in the sector. EE: Unbound except for professionals where: university degree and five years of working experience in a related field. UK: Compliance with an economic needs test is required. HU: Permanent residency requirement |
Unbound except for BE, DE, DK, ES, EE, NL, UK, SE as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES, EE, NL, UK, SE as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES, NL, UK, SE: University degree and professional qualifications and three years' professional experience in the sector. EE: Unbound except for professionals where: university degree and five years of working experience in a related field. UK: Compliance with an economic needs test is required |
Unbound except for BE, DE, DK, ES, EE, NL, UK, SE as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES, EE, NL, UK, SE where: as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES, NL, UK, SE: University degree and professional qualifications and three years' professional experience in the sector. EE: Unbound except for professionals where: university degree and five years of working experience in a related field. UK: Compliance with an economic needs test is required |
Unbound except for BE, DE, DK, ES, EE, NL, UK, SE where: as indicated in the horizontal section under (iii) and subject to the following conditions: DE: Use by third country qualified professionals of the professional title is only possible on the basis of mutual recognition agreements. DE: Application of the national rules on fees and emoluments for all services which are performed from abroad |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
IT, PT: Access is restricted to natural persons only. Professional association (no incorporation) among natural persons permitted. IE: Access through partnership or natural persons only. SE: Needs test applied to decide the number of private practices to be subsidised though the public insurance scheme. |
|
|
||||||||||||||||||||||||||
|
UK: Establishment for doctors under the National Health Service is subject to medical manpower planning. FR: Provision through SEL (anonyme, à responsabilité limitée ou en commandite par actions) or SCP only. LV: None for midwifery services. For medical and dental services, nationality requirement. Practice of medical profession by foreigners requires the permission from local health authority, based on economic needs for medical doctors and dentists in a given region. |
|
|
||||||||||||||||||||||||||
|
LT: For medical and dental services none, except supply of service is subject to authorisation which is based on a health services plan established in function of needs, taking into account the population and already existing medical and dental services. For midwifery services, access limited to sole proprietorship only and economic needs test may be applied PL: Nationality requirement. Practice of medical profession by foreigners requires the permission except for midwives. SI: Membership of Doctors Association r required. Conditions for acceptance into Doctors Association for doctors who are not Slovenian nationals is licence to practice in an another Member and have a good command of the Slovenian language (22). Unbound for midwifery services |
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES, as indicated in the horizontal section under (iii) and subject to the above conditions and the following specific limitations: BE, DE, DK, ES: University degree and professional qualifications and three years' professional experience in the sector. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. DE: Condition of nationality for doctors and dentists which can be waived on an exceptional basis in cases of public health interest. |
Unbound except for BE, DE, DK, ES, as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DK, ES, as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DK, ES: University degree and professional qualifications and three years' professional experience in the sector. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of 30 000 Euro. |
Unbound except for BE, DK, ES, as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
AT: natural persons, except nurses, psychologists and psychotherapists may establish a professional practice in Austria provided that the person concerned has practised the profession in question at least three years preceding the setting up of the professional practice in Austria LV: access restricted to natural persons only. Economic needs determined by the total number of nurses in the given region, authorised by local health authorities PL: Nationality requirement in the case of midwives and nurses CY, CZ, EE, HU, MT, SI, SK: Unbound. |
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES, as indicated in the horizontal section under (iii) and subject to the above conditions and the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge, professional qualifications and three years' professional experience in the sector. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. |
Unbound except for BE, DE, DK, ES, as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
Pharmacists (retail distribution of pharmaceutical goods - part of CPC 63211) |
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DK, ES as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DK, ES: University degree and professional qualifications and three years' professional experience in the sector. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of 30 000 Euro. |
Unbound except for BE, DK, ES as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES, EL, IT, LU, NL, SE where: as indicated in the horizontal section under (iii) and subject to the following specific limitations: IT, NL: Unbound, except for computer scientists, systems analysts, programmers, software document analysts and field engineers where: university degree and three years' professional experience in the sector. BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge, and three years professional experience in the sector. SE: University degree and three years professional experience in the sector. BE: Economic needs test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. IT: Compliance with an economic needs test is required. EL: Unbound, except for computer scientists, systems analysts, programmers, software document analysts where: university degree and five years' professional experience in the sector. |
Unbound except for BE, DE, DK, ES, EL, IT, LU, NL, SE where: as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
1, 2 and 3. None except for CY, CZ, FR, IE, LT, MT, PL, SK: unbound
|
1, 2 and 3. None except for CY, CZ, FR, IE, LT, MT, PL, SK: unbound
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES and FR where concerning the temporary entry of researchers as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES, SE: University degree or equivalent technical qualification demonstrating knowledge, and three years professional experience in the sector. BE: Economic needs test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. FR:
|
Unbound except for BE, DE, DK, ES and FR where concerning the temporary entry of researchers as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
For HU only: Personalities of internationally recognized reputation who have been invited by scientific research institutes for the duration of the invitation. |
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES, FR and LU where concerning the temporary entry of researchers as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge, and three years professional experience in the sector. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of 30 000 Euro.
|
Unbound except for BE, DE, DK, ES, FR and LU where concerning the temporary entry of researchers as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
For HU only: Personalities of internationally recognized reputation who have been invited by scientific research institutes for the duration of the invitation. |
|
|
||||||||||||||||||||||||||
|
1, 2 and 3. None except for CY, CZ, FR, IE, LT, LV, MT, PL, SK: unbound
|
1, 2 and 3. None except for CY, CZ, FR, IE, LT, LV, MT, PL, SK: unbound
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES and FR where concerning the temporary entry of researchers as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge, and three years professional experience in the sector. BE: Economic needs test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. FR:
|
Unbound except for BE, DE, DK, ES and FR where concerning the temporary entry of researchers as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
For HU only: Personalities of internationally recognised reputation who have been invited by scientific research institutes for the duration of the invitation. |
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
Rental services with operators Rental of vessels with crew (CPC 7213, 7223) |
|
|
|
||||||||||||||||||||||||||
Rental of commercial road vehicles with operator (CPC 7124) |
|
|
|
||||||||||||||||||||||||||
|
1, 2 and 3. None
|
1, 2 and 3. None
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES, EL, IT, LU, UK, SE as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES, IT, UK, SE: Relevant qualifications and three years' professional experience. IT, UK: Compliance with an economic needs test is required. EL: Relevant qualifications and five years' professional experience. |
Unbound except for BE, DE, DK, ES, EL, IT, LU, UK, SE as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
1, 2 and 3. None
|
1, 2 and 3. None
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) and subject to the above conditions and the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge and three years' professional experience in the sector. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. |
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
1, 2 and 3. None
|
1, 2 and 3. None
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES, EE, IT, LU, LV, UK, SE as indicated in the horizontal section under (iii) and subject to the following specific limitations: IT, UK: Unbound except for managers and senior consultants where: university degree and three years' professional experience. BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge, and three years professional experience in the sector. EE, LV: Unbound except for professionals where: university degree and five years of working experience in a related field. SE: University degree and three years professional experience in the sector. IT, UK: Compliance with an economic needs test is required. |
Unbound except for BE, DE, DK, ES, EE, IT, LU, LV, UK, SE as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
1, 2 and 3. HU: Unbound
|
1, 2 and 3. HU: Unbound
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES, EE, IT, LU, LV, UK, SE as indicated in the horizontal section under (iii) and subject to the following specific limitations: IT, UK: Unbound except for managers and senior consultants where: university degree and three years' professional experience. EE, LV: Unbound except for professionals where: university degree and five years of working experience in a related field. BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge, and three years professional experience in the sector. SE: University degree and three years professional experience in the sector. IT, UK: Compliance with an economic needs test is required. |
Unbound except for BE, DE, DK, ES, EE, IT, LU, LV, UK, SE as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES, EE, LU, UK, SE as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES, UK, SE: University degree or technical qualifications demonstrating knowledge and three years' professional experience. EE: Unbound except for professionals where: university degree and five years of working experience in a related field. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. UK: Compliance with an economic needs test is required |
Unbound except for BE, DE, DK, ES, EE, LU, UK, SE as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
IT: Access for agronomist and ‘periti agrari’ restricted to natural persons. Professional association (no incorporation) among natural persons is permitted. |
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK and ES as indicated in the horizontal section under (iii) and subject to the above conditions and the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge and three years' professional experience in the sector. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. |
Unbound except for BE, DE, DK and ES as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
1, 2 and 3. CY, CZ, EE, LV, LT, MT, PL, SK, SI: Unbound
|
1, 2 and 3. CY, CZ, EE, LV, LT, MT, PL, SK, SI: Unbound
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK and ES as indicated in the horizontal section under (iii) and subject to the above conditions and the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge and three years' professional experience in the sector. BE: Economic needs test is required if the gross annual salary of the natural person is below the threshold of 30 000 Euro. |
Unbound except for BE, DE, DK and ES as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK and ES as indicated in the horizontal section under (iii) and subject to the above conditions and the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge and three years' professional experience in the sector. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. FI: The right to seek, claim and exploit a deposit is limited to natural persons resident within the EEA. Exemptions to the residency requirement are granted by the Ministry of Trade and Industry |
Unbound except for BE, DE, DK and ES, as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
|
1, All Member States except EE, HU: Unbound EE, HU: None
|
|
||||||||||||||||||||||||||
|
1, 2 and 3. All Member States except HU, LV, LT, SI: Unbound HU, LV, LT, SI: None
|
1, 2 and 3. All Member States except HU, LV, LT, SI: Unbound HU, LV, LT, SI: None
|
|
||||||||||||||||||||||||||
LT: Covers consultancy services related to the transmission and distribution on a fee basis of electricity, gaseous fuels, steam and hot water to household, industrial, commercial and other users - CPC 887(28) SI: Services Incidental to energy distribution - for gas only(29) — part of CPC 887) |
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
Placement services (CPC 87202) |
|
|
|
||||||||||||||||||||||||||
Supply services of office support personnel (CPC 87203) |
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES, EE as indicated in the horizontal section under (iii) and subject to the above conditions and the following specific limitations: BE, DE, DK, ES: University degree and professional qualifications and three years' professional experience in the sector. EE: Unbound except for professionals where: university degree and five years working experience in a related field. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. DE: Conditions of nationality for publicly appointed surveyors. |
Unbound except for BE, DE, DK, ES, EE as indicated in the horizontal section under (iii) and subject to the following conditions: DE: Application of the national rules on fees and emoluments for all services which are performed from abroad. |
|
||||||||||||||||||||||||||
|
1, 2 and 3. None
|
1, 2 and 3. None
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK and ES as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge and three years' professional experience in the sector. BE: Economic needs test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. |
Unbound except for BE, DE, DK and ES as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK and ES as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge and three years' professional experience in the sector. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. |
Unbound except for BE, DE, DK and ES as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
|
1 and 2. None
|
1 and 2. None
|
|
||||||||||||||||||||||||||
|
1, 2 and 3. None
|
1, 2 and 3. None
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK and ES as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge and three years' professional experience in the sector. BE: Economic needs test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. |
Unbound except for BE, DE, DK and ES as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||
Translation Services (CPC 87905) (HU: except official translation. PL: excluding services of sworn interpreters. SK: except authorised public translation and interpretation) |
1 and 2. None
|
1 and 2. None
|
|
||||||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES, EL, IT, IE, UK, SE as indicated in the horizontal section under (iii) and subject to the following specific limitations: EL: Relevant qualifications and five years' professional experience. IT, IE, SE, UK: Relevant qualifications and three years' professional experience. BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge, and three years professional experience in the sector. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. IT, UK: Compliance with an economic needs test is required. |
Unbound except for BE, DE, DK, ES, EL, IT, IE, UK, SE as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||||||
Interior design services (CPC 87907)(33) |
|
|
|
|
|||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||
Postal and courier services (34) Services relating to the handling (35) of postal items (36) according to the following list of sub-sectors, whether for domestic or foreign destinations. Sub-sectors (i), (iv) and (v) may be excluded when they fall into the scope of the services which may be reserved, which is: for items of correspondence the price of which is less than five times the publicbasic tariff, provided that they weigh less than 350 grams(37), plus the registered mail service used in the course of judicial or administrative procedures. |
1, 2 and 3. All Member States except CY, CZ, EE, HU, LT, LV, MT, PL, SK, SI: Licensing systems may be established for subsectors (i) to (v) for which a general universal service obligation exists. These licences may be subject to particular universal service obligations and/or financial contribution to a compensation fund. CY, HU, LV, MT, SI: Unbound. EE, LT: Unbound except for (v): None PL: Unbound except for (v): None, excluding written correspondence (e.g. letters). CZ, SK: Unbound except for (v) under mode 2 and 3: None
|
1, 2 and 3. All Member States except CY, CZ, EE, HU, LT, LV, MT, PL, SK, SI: None CY, HU, LV, MT, SI: Unbound. EE, LT,: Unbound except for (v): None PL: Unbound except for (v): None, excluding written correspondence (e.g. letters).CZ, SK: Unbound except for (v) under
mode 2 and 3: None |
Independent national regulatory authorities have been established to ensure compliance with postal regulation and to deal with conflicts between commercial partners (public or private). The right to a postal universal service is ensured. |
||||||||||||||||||||
|
|
|
|
||||||||||||||||||||
|
|
|
|
||||||||||||||||||||
Telecommunications services are the transport of electro-magnetic signals - sound, data image and any combinations thereof, excluding broadcasting (43). Therefore, commitments in this schedule do not cover the economic activity consisting of content provision which require telecommunications services for its transport. The provision of that content, transported via a telecommunications service, is subject to the specific commitments undertaken by the Community and its Member States in other relevant sectors. |
|||||||||||||||||||||||
Domestic and international Domestic and international services provided using any network technology, on a facilities based or resale basis, for public and non-public use, in the following market segments (these correspond to the following CPC numbers: 7521, 7522, 7523, 7524(44), 7525, 7526 and 7529(44), broadcasting is excluded): |
|
|
|
||||||||||||||||||||
|
1 and 2. PL: For telecommunications services provided using cable television and radio network services: Unbound
|
1, 2 and 3. None |
BE: Licensing conditions may address the need to guarantee universal service, including through financing, in a transparent, non-discriminatory and competitively neutral manner and will not be more burdensome than necessary. |
||||||||||||||||||||
|
|
|
|
||||||||||||||||||||
|
|
|
|
||||||||||||||||||||
|
|
|
|
||||||||||||||||||||
|
|
|
|
||||||||||||||||||||
|
1 and 2. For paging: Unbound except pan-European paging systems.
|
1, 2 and 3. None
|
BE: Licensing conditions may address the need to guarantee universal service, including through financing, in a transparent, non-discriminatory and competitively neutral manner and will not be more burdensome than necessary. |
|
|||||||||||||||||||
|
|
|
|
||||||||||||||||
(CPC 511, 512, 513, 514, 515, 516, 517, 518)
|
|
|
|
||||||||||||||||
|
Unbound except for BE, DK, ES, FR and NL where: as indicated in the horizontal section under (iii) and subject to the following specific limitations: NL: University degree and professional qualifications and three years' professional experience in the sector. BE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge, and three years professional experience in the sector. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. FR: Unbound except for measures concerning the temporary entry of technicians under the following conditions:
|
Unbound except for BE, DK, ES, FR and NL where: as indicated in the horizontal section under (iii) |
|
||||||||||||||||
|
Unbound except for DE, SE and UK where as indicated in the horizontal section under (iii), only for CPC 5111, and subject to the following specific limitations: SE, UK: University degree and professional qualifications and three years' professional experience in the sector. UK: Compliance with an economic needs test is required. DE: Unbound except for limited range of services of site investigation work where: university degree and professional qualifications and three years' professional experience in the sector. |
Unbound except for DE, SE and UK where as indicated in the horizontal section under (iii), only for CPC 5111 |
|
|
|||||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
1, 2 and 3. MT: Unbound
|
1, 2 and 3. MT: Unbound
|
|
|
|||||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
Unbound except for BE, DE, DK, ES, FR and LU concerning the temporary entry of professors where: as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge, and three years professional experience in the sector. BE: Economic needs test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. FR:
|
Unbound except for BE, DE, DK, ES, FR and LU as indicated in the horizontal section under (iii) |
|
||||||||||||||||||
|
For HU only: Personalities of internationally recognized reputation who have been invited by higher education institutions for the duration of the invitation. |
|
|
||||||||||||||||||
|
1 and 2. CY, FI, MT, SE: Unbound
|
1 and 2. CY, FI, MT, SE: Unbound
|
|
||||||||||||||||||
|
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) and subject to the above conditions following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge and three years' professional experience in the sector. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. |
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) |
|
|
|||||||||||||||||||||
|
|
|
|
||||||||||||||||||
(SE: the offer does not include public works functions whether owned and operated by municipalities, state or federal governments or contracted out by these governments) |
|
|
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge and three years' professional experience in the sector. BE: Economic needs test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. |
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) |
|
||||||||||||||||||
Wastewater services (CPC 9401, part of 18000) |
|
|
|
||||||||||||||||||
|
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge and three years' professional experience in the sector. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. |
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) |
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge and three years' professional experience in the sector. BE: Economic needs test is required if the gross annual salary of the natural person is below the threshold of 30 000 Euro. |
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) |
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge and three years' professional experience in the sector. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of 30 000 Euro. |
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) |
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge and three years' professional experience in the sector. BE: Economic needs test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. |
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) |
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge and three years, professional experience in the sector. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. |
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) |
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge and three years' professional experience in the sector. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. |
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) |
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge and three years' professional experience in the sector. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of 30 000 Euro. |
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) |
|
|
|||||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
1, 2 and 3. All Member States except HU: Unbound HU: None
|
1, 2 and 3. All Member States except HU: Unbound HU: None.
|
|
|
|||||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
Unbound except for AT, BE, DE, DK, ES, IT, FI, IE, SE where: as indicated in the horizontal section under (iii) and subject to the following specific limitations: AT, FI, IT, IE, SE: Unbound except for tour managers (persons whose function is to accompany a tour group of a minimum of 10 persons, without acting as guides in specific locations) where for AT, IT, IE, SE: professional certificate and three years' professional experience. BE, DE, DK, ES: University degree or equivalent technical qualification and three years professional experience. IT: Compliance with an economic needs test is required |
Unbound except for AT, BE, DE, DK, ES, IT, FI, IE, SE where: as indicated in the horizontal section under (iii) |
|
||||||||||||||||||
|
|
|
|
||||||||||||||||||
|
Unbound except for BE, DE, DK, SE as indicated in the horizontal section under (iii) and subject to the above conditions and the following specific limitations: BE, DE, DK: University degree or equivalent technical qualification demonstrating knowledge and three years' professional experience in the sector. SE: Professional certificate, relevant qualifications and three years' professional experience. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. |
Unbound except for BE, DE, DK, SE as indicated in the horizontal section under (iii) |
|
|
|||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||
|
Unbound except for AT, BE, DE, DK, ES and FR concerning the temporary entry of artist where as indicated under the horizontal section under (iii) and subject to the following specific limitations: BE, DE, DK: University degree or equivalent technical qualification demonstrating knowledge and three years' professional experience in the sector. |
Unbound except for AT, BE, DE, DK, ES and FR concerning the temporary entry of artist where as indicated under the horizontal section under (iii) |
|
||||||||||||||||||||||
|
BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. AT, ES: access is limited to persons whose main professional activity is in the field of fine arts, deriving the major part of their income from that activity. such persons shall not exercise any other commercial activity in Austria. FR:
|
|
|
||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||
Services (CPC 962) |
|
|
|
||||||||||||||||||||||
|
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) and subject to the above conditions following specific limitations: BE, DE, DK, ES: University degree or equivalent technical qualification demonstrating knowledge and three years' professional experience in the sector. BE: Economic Needs Test is required if the gross annual salary of the natural person is below the threshold of EUR 30 000. |
Unbound except for BE, DE, DK, ES as indicated in the horizontal section under (iii) |
|
||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
(see additional definitions after the transport section) |
|
|
||||||||||||||||||||||||||||||||||||||||
International transport (freight and passengers) CPC 7211 and 7212 cabotage transport |
|
|
See footnote(57) |
||||||||||||||||||||||||||||||||||||||||
Maritime auxiliary services |
|
|
|
||||||||||||||||||||||||||||||||||||||||
Maritime cargo handling services |
|
|
|
||||||||||||||||||||||||||||||||||||||||
Storage and warehousing services CPC 742 (as amended) |
|
|
|
||||||||||||||||||||||||||||||||||||||||
Customs clearance services(60) |
|
|
|
||||||||||||||||||||||||||||||||||||||||
Container station and depot services(61) |
|
|
|
||||||||||||||||||||||||||||||||||||||||
Maritime agency services (62) |
|
|
|
||||||||||||||||||||||||||||||||||||||||
(Maritime) freight forwarding services (63) |
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
1 and 3. None, other than measures based upon existing or future agreements on access to inland waterways (incl. agreements following the Rhine-Main-Danube link), which reserve some traffic rights for operators based in the countries concerned and meeting nationality criteria regarding ownership. Regulations implementing the Mannheim Convention on Rhine Shipping. |
1 and 3. None, other than measures based upon existing or future agreements on access to inland waterways (including agreements following the Rhine-Main-Danube link), which reserve some traffic rights for operators based in the countries concerned and meeting nationality criteria regarding ownership. Regulations implementing the Mannheim Convention on Rhine Shipping. |
See footnote(64) |
||||||||||||||||||||||||||||||||||||||||
|
AT: According to the Austrian Inland Waterways Shipping Act the setting up of a shipping company by natural persons requires EEA (European Economic Area) citizenship. In the case of establishment as legal person, the majority of managing directors, the managing board and the supervisory board must be EEA citizens. In addition the majority of the business shares must be held by EEA citizens. CY, CZ, EE, HU, LT, MT, PL, SE, SI, SK: Unbound
|
CY, CZ, EE, HU, LT, MT, PL, SE, SI, SK: Unbound
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
1 and 2. All Member States except PL: Unbound PL: None except that aircraft used by Community air carriers have to be registered in the Member State licensing the air carrier or elsewhere in the Community. Waivers can be granted for short term lease contracts or under exceptional circumstances.
|
1, 2 and 3. All Member States except PL: Unbound PL: None
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
Sales and marketing |
|
|
|
||||||||||||||||||||||||||||||||||||||||
Computer reservations system |
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
1, 2 and 3. All Member States except HU: Unbound HU: None
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
1, 2 and 3. All Member States except HU: Unbound HU: None
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
DK: Access for natural persons only, and local establishment requirement. IT: Access for natural persons only. |
|
|
||||||||||||||||||||||||||||||||||||||||
|
For 71222 (limousine services): DK: Access for natural persons only, and local establishment requirement. FI: Authorisation required, not extended to foreign registered vehicles. IT: Access for natural persons only, and economic needs test. LV: Authorisation required (licence), not extended to foreign registered vehicles. PT: Economic needs test.
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
Pre-shipment inspection (CPC 749(68) except for FI: CPC 7490 only) |
1, 2 and 3. CY, CZ, HU, MT, PL, SE, SK: Unbound
|
1, 2 and 3. CY, CZ, HU, MT, PL, SE, SK: Unbound
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Definitions concerning maritime transport
Community (continued)
Attachment A
GLOSSARY
TERMS USED FOR INDIVIDUAL MEMBER STATES
France
Germany
Italy
ANNEX VI
(ANNEX VIII of the Agreement referred to in Article 120 of the Agreement)
SCHEDULE OF SPECIFIC COMMITMENTS ON FINANCIAL SERVICES
PART A
Community's schedule
Introductory Note
|
|||||||||||||||||||
All sectors included in this schedule |
|
|
|
||||||||||||||||
|
|
|
|
||||||||||||||||
|
HU: Commercial presence should take the form of limited liability company, joint-stock company, or representative office. Initial entry as branch is not permitted. |
Formation of Legal Entity
|
|
||||||||||||||||
|
Law on foreign companies' branches
|
Law on foreign companies' branches
|
|
||||||||||||||||
|
Legal Entities:
|
FI: A foreigner living outside the European Economic Area and carrying on a trade as a private entrepreneur or as a partner in a Finnish limited or general partnership needs a trade permit. If a foreign organisation or foundation which is resident outside the European Economic Area intends to carry on a business or trade by establishing a branch in Finland, a trade permit is required. FI: If at least half of the members of the Board or the Managing Director are resident outside the European Economic Area, a permission is required. Company exemptions may, however, be granted. SK: A foreign natural person whose name is to be registered in the Commercial Register as a person authorised to act on behalf of the entrepreneur is required to submit residence permit for the Slovak Republic. |
|
||||||||||||||||
|
Real estate purchases: DK: Limitations on real estate purchase by non-resident physical and legal entities. Limitations on agricultural estate purchased by foreign physical and legal entities. EL: According to Law No 1892/89 permission from the Minister of Defence is needed for a citizen to acquire land in areas near borders. According to administrative practices permission is easily granted for direct investment. CY: Unbound. HU: Unbound for the acquisition of state owned property. LT: Unbound for the acquisition of land by juridical and natural persons. MT: Unbound for the acquisition of real property. LV: Unbound in relation to acquisition of land by juridical persons. Land lease not exceeding 99 years permitted. PL: Unbound in relation to acquisition of State-owned property, i.e. the regulations governing the privatisation process (for mode 3). SI: Juridical persons, established in the Republic of Slovenia with foreign capital participation, may acquire real estate on the territory of the Republic of Slovenia. Branches(4) established in the Republic of Slovenia by foreign persons may only acquire real estate, except land, necessary for the conduct of the economic activities for which they are established. Ownership of real estate in the border areas of 10 km by companies in which majority of capital or voting rights belongs directly or indirectly to juridical persons or nationals of another Member is subject to special permission. |
Real estate purchases: AT: The acquisition, purchase as well as rent or lease of real estate by foreign natural persons and legal persons requires an authorisation by the competent regional authorities (Länder) which will consider whether important economic, social or cultural interests are affected or not. IE: Prior written consent of the Land Commission is necessary for the acquisition of any interest in Irish land by domestic or foreign companies or foreign nationals. Where such land is for industrial use (other than agricultural industry), this requirement is waived subject to a certificate to this effect from the Minister for Enterprise and Employment. This law does not apply to land within the boundaries of cities and towns. CZ: Limitations on real estate acquisition by foreign natural and legal entities. Foreign entities may acquire real property through establishment of the Czech legal entities or participation in joint ventures. Acquisition of the land by foreign entities is subject to authorisation. HU: Unbound for the acquisition of real estate by foreign natural persons. LV: Unbound in relation to acquisition of land by juridical persons. Land lease not exceeding 99 years permitted. PL: Acquisition of real estate, direct and indirect, by foreigners and foreign legal persons requires permission |
|
||||||||||||||||
|
SK: None except for land (for modes 3 and 4) |
SK: Limitations on real estate acquisition by foreign physical and legal entities. Foreign entities may acquire real property through establishment of Slovak legal entities or participation in joint ventures. Acquisition of the land by foreign entities is subject to authorisation (for modes 3 and 4). |
|
||||||||||||||||
|
|
IT: Unbound for purchase of real estate. FI (Åland Islands): Restrictions on the right for natural persons who do not enjoy regional citizenship in Åland, and for legal persons, to acquire and hold real property on the Åland Islands without permission by the competent authorities of the islands. FI (Åland Islands): Restrictions on the right of establishment and the right to provide services by natural persons who do not enjoy regional citizenship in Åland, or by any legal person, without permission by the competent authorities of the Åland Islands. |
|
||||||||||||||||
|
Investments: FR: Foreign purchases exceeding 33,33 % of the shares of capital or voting rights in existing French enterprise, or 20 % in publicly quoted French companies, are subject to the following regulation:
FR: Foreign participation in newly privatised companies may be limited to a variable amount, determined by the government of France on a case by case basis, of the equity offered to the public. ES: Investment in Spain by foreign government and foreign public entities (which tends to imply, besides economic, also non-economic interests to entity's part), directly or through companies or other entities controlled directly or indirectly by foreign governments, need prior authorisation by the government. PT: Foreign participation in newly privatised companies may be limited to a variable amount, determined by the Government of Portugal on a case-by-case basis, of the equity offered to the public. |
Investments: CY: Entities with foreign participation must have paid up capital commensurate with their finance requirements and non-residents must finance their contribution through the importation of foreign exchange. In case the non-resident participation exceeds 24 per cent, any additional financing for working capital requirements or otherwise should be raised from local and foreign sources in proportion to the participation of residents and non-residents in the entity's equity. In the case of branches of foreign companies, all capital for the initial investment must be provided from foreign sources. Borrowing from local sources is only permitted after the initial implementation of the project, for financing working capital requirements. HU: Unbound for the acquisition of state-owned properties. LT: Investments in organizing the lotteries are forbidden under the Law on Foreign Capital Investment. |
|
||||||||||||||||
|
IT: Exclusive rights may be granted or maintained to newly-privatised companies. Voting rights in newly privatised companies may be restricted in some cases. For a period of five years, the acquisition of large equity stakes of companies operating in the fields of defence, transport services, telecommunications and energy may be subject to the approval of the Ministry of Treasury. FR: For establishing in certain(5) commercial, industrial or artisanal activities, a specific authorisation is needed if the managing director is not holder of a permanent residence permit. |
MT: Companies with the participation of non-resident legal or natural persons are subject to the same capital requirement applicable to companies that are fully owned by residents as follows: private companies — Lm500 (with a minimum of 20 % as paid up capital); public companies — Lm20000 (with a minimum of 25 % paid up capital). The non-resident percentage of share of the equity is to be paid for with funds emanating from abroad. |
|
||||||||||||||||
|
CY: The permission of the Central Bank is required for the participation of any non-resident in a corporate body or partnership in Cyprus. Foreign participation in all sectors/subsectors included in the Schedule of Commitments is normally limited up to 49 %. The decision of the authorities to grant permission for foreign participation is based on an economic needs test, for which the following criteria are used in general:
In exceptional cases, in which a proposed investment satisfies most of the economic needs test criteria to a large extent, permission for foreign participation exceeding 49 % may be granted. |
Subsidies Eligibility for subsidies from the Community or Member States may be limited to legal persons established within the territory of a Member State or a particular geographical sub-division thereof. Unbound for subsidies for research and development. Unbound for branches established in a Member State by a non-Community company. The supply of a service, or its subsidisation, within the public sector is not in breach of this commitment. Commitments taken in this schedule do not require the Community or Member States to offer a subsidy to a service supplied from outside its territory. To the extent that any subsidies are made available to natural persons, their availability may be limited to nationals of a Member State. |
|
||||||||||||||||
|
In the case of public companies, foreign equity participation is normally allowed to the extent of up to 30 per cent. In Mutual Funds the extent of allowable foreign ownership is 40 %. Corporate bodies have to be registered under the Companies Law. Same Law requires that a foreign company wishing to establish a place of business or an office in Cyprus must register it as a foreign branch. For the registration the prior approval of the Central Bank is required under the Exchange Control Law. Such approval is subject to the foreign investment policy applicable at the time with regard to the Corporate Body's proposed activities in Cyprus and the general investment criteria stipulated above. HU: Unbound for the acquisition of state-owned properties. MT: The Companies Act (Cap.386) regulating the supply of services by non-residents through the registration of a local company and the External Transactions Act (Cap. 233) which regulates the issue, acquisition, sale and redemption of securities not listed on the Malta Stock Exchange shall continue to apply. |
|
|
||||||||||||||||
|
PL: Authorisation of the establishment of a company with foreign equity is required in the case of:
SI: For financial services, authorisation is issued by the authorities indicated in sector specific commitments and according to conditions indicated in sector specific commitments. There are no limitations on establishment of a new business establishment (greenfield investments). |
|
|
||||||||||||||||
|
Exchange regime(6) (7) (8): 1 and 2. SK: In relation to current payments, limitation on acquisition of foreign exchange by resident nationals for personal purposes. In relation to capital payments, foreign exchange authorisation required for acceptance of financial credits from foreign subjects, direct capital investments abroad, acquisition of real estate abroad and purchase of foreign securities. |
Exchange regime(9)
|
|
||||||||||||||||
|
|
|
|
||||||||||||||||
|
|
Community directives on mutual recognition of diplomas do not apply to nationals of third countries. Recognition of the diplomas which are required in order to practise regulated professional services by non-Community nationals remains within the competence of each Member State, unless Community law provides otherwise. The right to practise a regulated professional service in one Member State does not grant the right to practise in another Member State. |
|
||||||||||||||||
|
|
Residency requirements AT: Managing directors of branches and legal persons have to be resident in Austria; natural persons responsible within a legal person or a branch for the observance of the Austrian Trade Act must be resident in Austria. MT: Immigration regulations under the Immigration Act (Cap 217) will regulate the issue of residency permits/documents. |
|
||||||||||||||||
|
|
|
|
||||||||||||||||
|
|
|
|
||||||||||||||||
|
|
|
|
||||||||||||||||
|
|
|
|
||||||||||||||||
|
FR: The managing director of an industrial, commercial or artisanal activity(13), if not holder of a residence permit, needs a specific authorisation. |
|
|
||||||||||||||||
|
IT: Access to industrial, commercial and artisanal activities is subject to a residence permit and specific authorisation to pursue the activity. |
|
|
|
||||||||||||||||||
|
|
|||||||||||||||
|
|||||||||||||||
|
AT: Compulsory air insurance can be underwritten only by a subsidiary established in the Community or by a branch established in Austria. CZ: None other than:
|
|
Part of the EC (AT, BE, DK, DE, ES, FI, FR, EL, IE, IT, LU, NL, PT, SE, UK) undertakes additional commitments as contained in the ‘Additional commitments by part of the EC’ attached. |
||||||||||||
|
Authorisation is required for the intermediary in case of its intermediation activity to be exercised for a branch with registered office in the Czech Republic. |
|
|
||||||||||||
|
DK: Compulsory air transport insurance can be underwritten only by firms established in the Community. DK: No persons or companies (including insurance companies) may for business purposes in Denmark assist in effecting direct insurance for persons resident in Denmark, for Danish ships or for property in Denmark, other than insurance companies licensed by Danish law or by Danish competent authorities. |
|
|
||||||||||||
|
DE: Compulsory air insurance policies can be underwritten only by a subsidiary established in the Community or by a branch established in Germany. |
|
|
||||||||||||
|
DE: If a foreign insurance company has established a branch in Germany, it may conclude insurance contracts in Germany relating to international transport only through the branch established in Germany. IT: Unbound for the actuarial profession. FI: Only insurers having their head office in the European Economic Area or having their branch in Finland may offer insurance services as referred to in subparagraph 3(a) of the Understanding. |
|
|
||||||||||||
|
FI: The supply of insurance broker services is subject to a permanent place of business in the European Economic Area. FR: Insurance of risks relating to ground transport may be carried out only by insurance firms established in the Community. |
|
|
||||||||||||
|
IT: Transport insurance of goods, insurance of vehicles as such and liability insurance regarding risks located in Italy may be underwritten only by insurance companies established in the Community. This reservation does not apply for international transport involving imports into Italy. |
|
|
||||||||||||
|
SK: Commercial presence is required for supply of:
SE: The supply of direct insurance is allowed only through an insurance service supplier authorised in Sweden, provided that the foreign service supplier and the Swedish insurance company belong to the same group of companies or have an agreement of cooperation between them. |
|
|
||||||||||||
|
AT: Compulsory air insurance can be underwritten only by a subsidiary established in the Community or by a branch established in Austria. |
|
|
||||||||||||
|
CZ: None other than: Insurance services as defined below may not be purchased abroad.
|
|
|
||||||||||||
|
DK: Compulsory air transport insurance can be underwritten only by firms established in the Community. DK: No persons or companies (including insurance companies) may, for business purposes in Denmark, assist in effecting direct insurance for persons resident in Denmark, for Danish ships or for property in Denmark, other than insurance companies licensed by Danish law or by Danish competent authorities. DE: Compulsory air insurance policies can be underwritten only by a subsidiary established in the Community or by a branch established in Germany. |
|
|
||||||||||||
|
DE: If a foreign insurance company has established a branch in Germany, it may conclude insurance contracts in Germany relating to international transport only through the branch established in Germany. FR: Insurance of risks relating to ground transport may be carried out only by insurance firms established in the Community. IT: Transport insurance of goods, insurance of vehicles as such and liability insurance regarding risks located in Italy may be underwritten only by insurance companies established in the Community. This reservation does not apply for international transport involving imports into Italy. SK: Insurance services covered by mode 1, except insurance of air and maritime transport, covering goods, aircraft, hull and liability above may not be purchased abroad. |
|
|
||||||||||||
|
CZ: None other than:
|
SE: Non-life insurance undertakings not incorporated in Sweden conducting business in Sweden are - instead of being taxed according to the net result - subject to taxation based on the premium income from direct insurance operations. SE: A founder of an insurance company shall be a natural person resident in the European Economic Area or a legal entity incorporated in the European Economic Area. |
|
||||||||||||
|
Authorisation is required for the intermediary in case of its intermediation activity to be exercised for a branch with registered office in the Czech Republic. |
|
|
||||||||||||
|
FI: The managing director, at least one auditor and at least one half of the promoters and members of the board of directors and the supervisory board of an insurance company shall have their place of residence in the European Economic Area, unless the Ministry of Social Affairs and Health has granted an exemption. FI: Foreign insurers cannot get a licence in Finland as a branch to carry on statutory social insurances (statutory pension insurance, statutory accident insurance). |
|
|
||||||||||||
|
FR: The establishment of branches is subject to a special authorisation for the representative of the branch. EL: The right of establishment does not cover the creation of representative offices or other permanent presence of insurance companies, except where such offices are established as agencies, branches or head offices. IT: Access to actuarial profession through natural persons only. Professional associations (no incorporation) among natural persons permitted. IT: The authorisation of the establishment of branches is ultimately subject to the evaluation of supervisory authorities. IE: The right of establishment does not cover the creation of representative offices. |
|
|
||||||||||||
|
SK: Licence is required for provision of insurance services. Foreign national may establish an insurance company with the seat in the Slovak Republic in the form of a joint stock company or may conduct insurance business through their subsidiaries with registered office in the Slovak Republic under the general conditions established in the Law on Insurance. Insurance business means insurance activity including brokerage and reinsurance activity. |
|
|
||||||||||||
|
Intermediation activity aimed at the conclusion of an insurance contract between third party and the insurance company may be provided by natural or juridical persons who are domiciled in the Slovak Republic for the benefit of the insurance company having the license of the Insurance Supervisory Authority. |
|
|
||||||||||||
|
Intermediation contract aimed at conclusion of an insurance contract by third party with the insurance company may be concluded by domestic or foreign insurance company only after a licence had been granted by the Insurance Supervisory Authority |
|
|
||||||||||||
|
The financial resources of specific insurance funds of licensed insurance operators derived from insuring or reinsuring policy holders with residence or registered office in the Slovak Republic must be deposited in a resident bank in the Slovak Republic and may not be transferred abroad. |
|
|
||||||||||||
|
SE: Insurance broking undertakings not incorporated in Sweden may establish a commercial presence only through a branch. |
|
|
|
|||||||||||||
|
EL: A majority of the members of the board of directors of a company established in Greece shall be nationals of one of the Member States of the Community. |
AT: The management of a branch office must consist of two natural persons resident in Austria. DK: The general agent of an insurance branch will need to have resided in Denmark for the last two years unless being a national of one of the Member States of the Community. The Minister of Business and Industry may grant exemption. DK: Residency requirement for managers and the members of the board of directors of a company. However, the Minister of Business and Industry may grant exemption from this requirement. Exemption is granted on a non-discriminatory basis. IT: Residence requirement for actuarial profession. |
|
||||||||||
|
|||||||||||||
|
IT: Unbound for ‘promotori di servizi finanziari’ (financial salesmen). CZ: Unbound for trading of transferable securities and of other negotiable instruments and financial assets, participation in issues of all kinds of securities, asset management, and settlement and clearing services for financial assets. None other than: Only Czech established banks and branches of foreign banks having a corresponding licence may:
|
|
Part of the EC (AT, BE, DK, DE, ES, FI, FR, EL, IE, IT, LU, NL, PT, SE, UK) undertakes additional commitments as contained in the ‘Additional commitments by part of the EC’ attached. |
||||||||||
|
Foreign exchange permit issued by the Czech National Bank or Ministry of Finance is required in case of Czech non-bank residents for:
|
|
|
||||||||||
|
|
|
|
||||||||||
|
|
|
|
||||||||||
|
|
|
|
||||||||||
|
IE: The provision of investment services or investment advice requires either (i) authorisation in Ireland, which normally requires that the entity be incorporated or be a partnership or a sole trader, in each case with a head/registered office in Ireland (authorisation may not be required in certain cases, e.g. where a third country service provider has no commercial presence in Ireland and the service is not provided to private individuals), or (ii) authorisation in another Member State in accordance with the EC Investment Services Directive. |
|
|
||||||||||
|
SK: Unbound for trading of transferable securities and of other negotiable instruments and financial assets, participation in issues of all kinds of securities, asset management, and settlement and clearing services for financial assets. |
|
|
||||||||||
|
None other than:
|
|
|
||||||||||
|
|
|
|
||||||||||
|
|
|
|
||||||||||
|
|
|
|
||||||||||
|
|
|
|
||||||||||
|
|
|
|
||||||||||
|
|
|
|
||||||||||
|
None other than: Only Czech established banks and branches of foreign banks having a corresponding licence may: |
|
|
||||||||||
|
|
|
|
||||||||||
|
Foreign exchange permit issued by the Czech National Bank or Ministry of Finance is required in case of Czech non-bank residents for: |
|
|
||||||||||
|
|
|
|
||||||||||
|
|
|
|
||||||||||
|
|
|
|
||||||||||
|
FI: Payments from governmental entities (expenses) shall be transmitted through the Sampo Bank Ltd. Exemption from this requirement may be granted on special reason by the Ministry of Finance. SK: Unbound for asset management. |
|
|
||||||||||
|
None other than:
|
|
|
||||||||||
|
|
|
|
||||||||||
|
|
|
|
||||||||||
|
|
|
|
||||||||||
|
|
|
|
||||||||||
|
|
|
|
||||||||||
|
|
|
|
||||||||||
|
|
|
|
||||||||||
|
CZ: None other than:
|
|
|
||||||||||
|
The establishment and activities of securities dealers, stockbrokers, of the Stock Exchange or organisers of an over-the-counter market, investment companies and investment funds are subject to authorisation granting of which is related to qualifications, personal integrity, management and material requirements. |
|
|
||||||||||
|
Settlement and clearing services for all kinds of payments are monitored and reviewed by the Czech National Bank to ensure their smooth and economical operation. |
|
|
||||||||||
|
DK: Financial institutions may engage in securities trading on the Copenhagen Stock Exchange only through subsidiaries incorporated in Denmark. FI: At least one half of the founders, the members of the board of directors, the supervisory board and the delegates, the managing director, the holder of the procuration and the person entitled to sign in the name of the credit institution shall have their place of residence in the European Economic Area, unless the Ministry of Finance grants an exemption. At least one auditor shall have his place of residence in the European Economic Area. |
|
|
||||||||||
|
FI: The broker (individual person) on derivative exchange shall have his place of residence in the European Economic Area. Exemption from this requirement may be granted under the conditions set by the Ministry of Finance. FI: Payments from governmental entities (expenses) shall be transmitted through the Sampo Bank Ltd. Exemption from this requirement may be granted on special reason by the Ministry of Finance. |
|
|
||||||||||
|
EL: For the establishment and operations of branches a minimum amount of foreign exchange must be imported, converted into euro and kept in Greece as long as a foreign bank continues to operate in Greece:
IT: In providing the activity of door-to-door selling, intermediaries must utilise authorised financial salesmen resident within the territory of a Member State of the European Communities. IT: Representative offices of foreign intermediaries cannot carry out activities aimed at providing investment services. |
|
|
||||||||||
|
IT: Clearing services including the phase of final settlement may be conducted only by entities duly authorised and supervised by the Bank of Italy in agreement with Consob. IT: The public offer of securities can only be made by entities duly authorised. IT: Centralised deposit, custody and administration services can be provided only by entities duly authorised and supervised by the Consob in agreement with the Bank of Italy. |
|
|
||||||||||
|
IT: In the case of collective investment schemes other than harmonised UCITS under the directive 85/611/EEC, the trustee/depositary is required to be incorporated in Italy or in another Member State of the European Community, being established through a branch in Italy. Only banks, insurance companies, securities investment companies having their legal head office in the European Community may carry out activity of pension fund resources management. Management companies (closed-end funds and real estate funds) are also required to be incorporated in Italy. IE: In the case of collective investment schemes constituted as unit trusts and variable capital companies (other than undertakings for collective investment in transferable securities, UCITS), the trustee/depositary and management company is required to be incorporated in Ireland or in another Member State of the Community. In the case of an investment limited partnership, at least one general partner must be incorporated in Ireland. |
|
|
||||||||||
|
IE: To become a member of a stock exchange in Ireland, an entity must either (i) be authorised in Ireland, which requires that it be incorporated or be a partnership, with a head/registered office in Ireland, or (ii) be authorised in another Member State in accordance with the EC Investment Services Directive. IE: The provision of investment services or investment advice requires either (i) authorisation in Ireland, which normally requires that the entity be incorporated or be a partnership or a sole trader, in each case with a head/registered office in Ireland (the supervisory authority may also authorise branches of third country entities), or (ii) authorisation in another Member State in accordance with the EC Investment Services Directive. PT: The establishment of non-EC banks is subject to an authorisation issued, on a case-by-case basis, by the Minister of Finance. The establishment has to contribute to increase the national banking system's efficiency or has to produce significant effects on the internationalisation of the Portuguese economy. |
|
|
||||||||||
|
PT: The services of venture capital may not be provided by branches of venture capital companies having their head office in a non-EC country. Pension fund management may be provided only by companies incorporated in Portugal and by insurance companies established in Portugal and authorised to take up the life insurance business. |
|
|
||||||||||
|
SK: Banking services may be provided only by domestic banks or branches of foreign banks authorised by the National Bank of Slovakia upon the agreement with the Ministry of Finance. The granting of authorisation is based on the consideration of criteria relating, in particular, to capital endowment (financial strength) professional qualifications, integrity and competence of the management of the projected bank activities. Banks are legal entities incorporated in the Slovak Republic, established as joint-stock companies or public (State-owned) financial institutions. |
|
|
||||||||||
|
The purchase of shares expressing interest in the equity capital of existing commercial bank from the determined limit is subject to prior approval of the National Bank of Slovakia. |
|
|
||||||||||
|
Investment services in the Slovak Republic can be provided by banks, investment companies, investment funds and security dealers which have legal form of joint-stock company with equity capital according to the law. Foreign investment company or investment fund must obtain an authorisation from Ministry of Finance for selling its securities or investment certificate units on the territory of the Slovak Republic according to the law. For issue of debt securities the permission of the Ministry of Finance is required either for the issue inland or abroad. |
|
|
||||||||||
|
Securities may be issued and traded only after a permission by the Ministry of Finance has been granted for public trading according to the Securities Act. The business of security dealer, stockbroker or organiser of an over-the counter market is subject to authorisation of the Ministry of Finance. Settlement and clearing services for all kinds of payments are regulated by National Bank of Slovakia. |
|
|
||||||||||
|
Settlement and clearing services relating to change of physical property of securities are recorded in Centre of Securities (Clearing and Settlement House for Securities). Centre of Securities may provide only transfers on the property accounts of security owners. Cash part clearing and settlement goes through Banking Clearing and Settlement House - (where the National Bank of Slovakia is major shareholder) for Bratislava Stock Exchange, joint-stock company or through Jumbo account for RM-System Slovakia. |
|
|
||||||||||
|
SE: Undertakings not incorporated in Sweden may establish a commercial presence only through a branch, and in case of banks, also through a representative office. |
|
|
||||||||||
|
|
|
|
|
||||||||||||||||||||||||||
|
|
|||||||||||||||||||
|
|||||||||||||||||||
|
Life insurance (including intermediation): No insurer can offer life insurance services in the Republic of Cyprus unless licensed as an insurer by the Superintendent of Insurance, in accordance with the insurance companies laws. Non-life insurance (including intermediation): No insurer can offer non-life insurance services (except marine, aviation and transit) in the Republic of Cyprus unless licensed as an insurer by the Superintendent of Insurance, in accordance with the insurance companies laws. Reinsurance and retrocession (including intermediation): Any foreign reinsurer approved by the Superintendent of Insurance (on prudential criteria) may offer reinsurance or retrocession services to insurance companies incorporated and licensed in Cyprus. Services auxiliary to insurance: None. EE: None. |
MT: Life insurance, non-life insurance and reinsurance and retrocession: None. Insurance intermediation and services auxiliary to insurance: Unbound. PL: Unbound except for the reinsurance, the retrocession and insurance of goods in international trade. SI: Marine, aviation and transport insurance, insurance intermediation, and services auxiliary to insurance: None. Life insurance, non-life insurance (except marine, aviation and transport insurance), and reinsurance and retrocession: Unbound. |
|
||||||||||||||||
|
LV: Life insurance, non-life insurance and insurance intermediation: Unbound. Reinsurance and retrocession, and services auxiliary to insurance: None. |
|
|
||||||||||||||||
|
LT: Life insurance, non-life insurance (except for maritime and aviation insurance), and insurance intermediation: Unbound. Maritime and aviation insurance, reinsurance and retrocession and services auxiliary to insurance: None. MT: Marine, aviation and transport insurance, reinsurance and retrocession, and insurance intermediation: None. Life insurance, non-life insurance (except for marine, aviation and transport insurance), reinsurance and retrocession (except for marine, aviation and transport reinsurance), and services auxiliary to insurance: Unbound. |
|
|
||||||||||||||||
|
PL: Unbound except for the reinsurance, the retrocession and insurance of goods in international trade. |
|
|
||||||||||||||||
|
SI: Marine, aviation and transport insurance: Insurance activities provided by mutual insurance institutions are limited to incorporated companies established in the Republic of Slovenia. Life insurance, non-life insurance (except marine, aviation and transport insurance), reinsurance and retrocession, insurance intermediation, and services auxiliary to insurance: Unbound. |
|
|
||||||||||||||||
|
MT: Life insurance, non-life insurance, and reinsurance and retrocession: None. Insurance intermediation and services auxiliary to insurance: Unbound. PL: Unbound except for the reinsurance, the retrocession and insurance of goods in international trade. SI: Marine, aviation and transport insurance: Insurance activities provided by mutual insurance institutions are limited to incorporated companies established in the Republic of Slovenia. |
MT: Life insurance, non-life insurance, and reinsurance and retrocession: None. Insurance intermediation and services auxiliary to insurance: Unbound. PL: Unbound except for the reinsurance, the retrocession and insurance of goods in international trade. SI: Marine, aviation and transport insurance, reinsurance and retrocession, insurance intermediation, and services auxiliary to insurance: None. |
|
||||||||||||||||
|
Life insurance and non-life insurance (except marine, aviation and transport insurance): Unbound. Reinsurance and retrocession: Reinsurance companies in the Republic of Slovenia have priority in the collection of insurance premiums. In case that these companies are not able to equalise all risks, these can be reinsured and retroceded abroad. (None upon the adoption of the new law on Insurance Companies). |
Life insurance and non-life insurance (except marine, aviation and transport insurance): Unbound. |
|
||||||||||||||||
|
Insurance intermediation and services auxiliary to insurance: None. |
|
|
||||||||||||||||
|
Life and non-life insurance (including intermediation): No insurer can operate in or from within the Republic of Cyprus unless so authorised by the Superintendent of Insurance, in accordance with the Insurance Companies Laws. Foreign insurance companies can operate in the Republic of Cyprus through the establishment of a branch or an agency. The foreign insurer must have been authorised to operate in his country of origin before authorised to establish a branch or agency. Participation of non-residents in insurance companies, incorporated in the Republic of Cyprus, requires the prior approval of the Central Bank. |
EE: Life and non-life insurance: None, except the management body of an insurance joint-stock company with foreign capital participation may include citizens of foreign countries in proportion to the foreign participation, but not more than half of the members of the management group; the head of the management of a subsidiary or an independent company must permanently reside in Estonia. Reinsurance and retrocession, insurance intermediation and services auxiliary to insurance: None. |
|
||||||||||||||||
|
Reinsurance and retrocession (including intermediation): No company can operate as a reinsurer within the Republic of Cyprus unless so authorised by the Superintendent of Insurance. Investment by non-residents in reinsurance companies requires the prior approval of the Central Bank. The share of foreign participation in the capital of local reinsurance companies is determined on a case-by-case basis. Currently there is no local reinsurance company. Services auxiliary to insurance: None. |
SI: Life insurance, non-life insurance, and reinsurance and retrocession: None. Insurance intermediation and services auxiliary to insurance: For sole proprietors a residence in the Republic of Slovenia is required. |
|
||||||||||||||||
|
EE, LV, LT: None |
|
|
||||||||||||||||
|
PL: Establishment in a form of joint stock company or a branch after obtaining a licence. |
|
|
||||||||||||||||
|
No more than 5 % of insurance funds can be invested abroad. A person executing activities of the insurance intermediation must possess a licence. Local incorporation required for insurance intermediaries. |
|
|
||||||||||||||||
|
SI: Life and non-life insurance: Establishment is subject to a licence issued by the Ministry of Finance. Foreign persons can establish an insurance company only as a joint-venture with domestic person, where participation of foreign persons is limited up to 99 %. |
|
|
||||||||||||||||
|
The limitation on the maximum foreign ownership shall be abolished with the adoption of the new Law on Insurance Companies. |
|
|
||||||||||||||||
|
A foreign person may acquire or increase shares in a domestic insurance company subject to a prior approval of the Ministry of Finance. |
|
|
||||||||||||||||
|
Ministry of Finance, when issuing a licence or approval of acquiring shares in a domestic insurance company, takes into account the following criteria:
|
|
|
||||||||||||||||
|
Unbound for foreign participation in insurance company under privatisation. |
|
|
||||||||||||||||
|
Membership of the mutual insurance institution is limited to companies established in the Republic of Slovenia and domestic natural persons |
|
|
||||||||||||||||
|
Reinsurance and retrocession: Foreign participation in reinsurance company is limited up to a controlling share of the capital. (None, except for branches, upon the adoption of the new law on Insurance companies). Insurance intermediation and services auxiliary to insurance: For providing consultancy and claim settlement services, incorporation is required as a legal entity by consent of the Bureau of insurance. For actuaries and risk assessment activities provision of services through professional establishment only. Operation is limited to activities referred under A(i) and (ii) of this Schedule. |
|
|
||||||||||||||||
|
Reinsurance and retrocession: Unbound. Natural persons are not authorised to provide reinsurance services. EE, LV, LT, MT: Unbound except as indicated in the horizontal section under (i) and (ii). PL: Unbound except as indicated in the horizontal section under (i) and (ii) and subject to the following specific limitation: Residency requirement for insurance intermediaries. SI: Life insurance, non-life insurance, and reinsurance and retrocession Unbound except as indicated in the horizontal section under (i) and (ii). Insurance intermediation and services auxiliary to insurance Unbound except as indicated in the horizontal section under (i) and (ii) and for actuarial and risk assessment residence is required in addition to a qualifying examination, membership in the Actuarial Association of the Republic of Slovenia and proficiency in the Slovene language. |
Reinsurance and retrocession: Unbound. Natural persons are not authorised to provide reinsurance services. EE, LT, MT, SI: Unbound except as indicated in the horizontal section under (i) and (ii). LV, PL: None. |
|
|
|||||||||||||||||
|
|||||||||||||||||
MT: Not committed. PL: Not committed.
MT: Not committed. |
Subsectors (x) (e), (xv) and (xvi): None except as indicated in the horizontal section. All other subsectors: Unbound EE: Acceptance of deposits and other repayable funds from the public Requirement of authorisation by Eesti Pank and registration under Estonian Law as a joint-stock company, a subsidiary or a branch. EE, LT: The establishment of a specialised management company is required to perform the activities of management of unit trusts and investment companies, and only firms having their registered office in the Community can act as depositories of the assets of investment funds. |
Subsectors (x) (e), (xv) and (xvi): None except as indicated in the horizontal section. EE, LV, LT, SI: None. MT: Subsectors (v) and (vi): None. Subsector (xv): Unbound, except for the provision of financial information by international providers. PL: Unbound, except for: Subsector (xv): None. |
|
||||||||||||||
MT: Not committed. PL: Excluding guarantees and commitments of the State Treasury.
|
LV: Unbound, except for: Subsectors (xi), (xv) and (xvi): None. LT: Pension fund management: Commercial presence required. MT: Subsectors (v) and (vi): None. Subsector (xv): Unbound, except for the provision of financial information by international providers. PL: Unbound, except for: Subsector (xv): Requirement to use the public telecommunication network, or the network of other authorised operator, in the case of cross-border provision of these services. SI: None for subsector (xv) and (xvi). Unbound except accepting credits (borrowing of all types), and accepting guarantees and commitments from foreign credit institutions by domestic legal entities and sole proprietors. (Remark: consumer credits shall be free upon the adoption of the new Foreign Exchange Law). All abovementioned credit arrangements must be registered with the Bank of Slovenia. (Remark: this provision shall be abolished upon the adoption of the new Law on Banking.) Foreign persons can only offer foreign securities through domestic banks and stock broking company. Members of the Slovenian Stock Exchange must be incorporated in the Republic of Slovenia. |
|
|
||||||||||||||
MT: Not committed. PL: Only (x) (e) is committed. |
|
|
|
||||||||||||||
MT: Not committed. PL: Excluding participation in issues of Treasury papers. SI: Excluding participation in issues of Treasury bonds.
MT: Not committed. PL: Not committed. |
Unbound, residents of Cyprus require permission from the Central Bank in conformity with the Exchange Control Law for borrowing in foreign currency or abroad, for placing funds abroad or for obtaining banking services that require export of funds. Subsector (x) (e), (xv) and (xvi) None except as indicated in the horizontal section. EE, LV, LT: None. MT: Subsectors (v) and (vi): None. Subsector (xv): Unbound, except for the provision of financial information by international providers. PL: Unbound, except for:
|
Subsectors (x) (e), (xv) and (xvi): None except as indicated in the horizontal section. EE, LV, LT, SI: None. MT: Subsectors (v) and (vi): None. Subsector (xv): Unbound, except for the provision of financial information by international providers. PL: Unbound, except for: Subsector (xv) and (xvi): None. |
|
||||||||||||||
MT: Not committed. PL: Only portfolio management services. SI: Excluding pension fund management. |
SI: None for subsectors (xv) and (xvi). Unbound except accepting credits (borrowing of all types), and accepting guarantees and commitments from foreign credit institutions by domestic legal entities and sole proprietors. (Remark: consumer credits shall be free upon the adoption of the new Foreign Exchange Law). All above mentioned credit arrangements must be registered with the Bank of Slovenia. (Remark: this provision shall be abolished upon the adoption of the new Law on Banking.) Legal entities established in the Republic of Slovenia can be depositories of the assets of Investments Funds. |
|
|
||||||||||||||
MT: Not committed. PL: Not committed.
|
CY: All subsectors, except subsector (x) (e) For new banks the following requirements apply:
|
None once established and licensed. Subsector (x) (e) A brokerage firm may only be registered as a member of the Cyprus Stock Exchange if it has been established and registered in accordance with the Companies Law of Cyprus. EE, LV, LT, MT, PL, SI: None. |
|
||||||||||||||
MT: Not committed. PL: Advisory and other auxiliary financial services only in relation to the activities committed for Poland. SI: Excluding advisory, intermediation and other auxiliary financial services related to participation in issues of Treasury bonds and to pension fund management. |
Subsector (x) (e): Only members (brokers) of the Cyprus Stock Exchange can undertake business pertaining to securities brokerage in Cyprus. Firms acting as brokers must only employ individuals who can act as brokers provided that they are appropriately licensed. Banks and Insurance companies may not undertake brokerage business. However their subsidiary brokerage firms may do so. LV: Subsector (xi):
|
|
|
||||||||||||||
|
MT: Unbound, except for:
|
|
|
||||||||||||||
|
PL: Subsectors (v), (vi), (viii) and (ix) (excluding guarantees and commitments of the State Treasury): Establishment of a bank only in a form of joint-stock company or a licensed branch. Nationality requirement for some, at least one, of the bank executives. |
|
|
||||||||||||||
|
Subsectors (x) (e), (xi) (excluding participation in issues of Treasury papers), (xiii) (only portfolio management services) and (xvi) (advisory and other auxiliary financial services only in relation to the activities committed for Poland): Establishment, after obtaining a licence, only in a form of joint-stock company or a branch of foreign legal entity providing securities services. |
|
|
||||||||||||||
|
Subsector (xv): Requirement to use the public telecommunication network, or the network of other authorised operator, in the case of cross-border provision and/or consumption abroad of these services. |
|
|
||||||||||||||
|
SI: None for subsectors (xv) and (xvi). |
|
|
||||||||||||||
|
Establishment of all types of banks are subject to a licence of the Bank of Slovenia. |
|
|
||||||||||||||
|
Foreign persons may become shareholders of banks or acquire additional shares of banks only subject to prior approval of the Bank of Slovenia (Remark: this provision shall be abolished upon the adoption of the new Law on Banking). |
|
|
||||||||||||||
|
Under licence of the Bank of Slovenia, banks, subsidiaries and branches of foreign banks can be permitted to provide all or limited banking services, depending on the amount of the capital. |
|
|
||||||||||||||
|
Unbound in relation to foreign participation in banks under privatisation. |
|
|
||||||||||||||
|
Branches of foreign banks must be incorporated in the Republic of Slovenia and have legal personality. (Remark: this provision shall be abolished upon the adoption of the new Law on Banking). |
|
|
||||||||||||||
|
Unbound with respect to all types of mortgage banks, savings and loans institutions. |
|
|
||||||||||||||
|
Unbound with respect to establishment of private pension funds (non-compulsory pension funds). |
|
|
||||||||||||||
|
Management Companies are commercial companies established solely for the purpose of managing investment funds. |
|
|
||||||||||||||
|
Foreign persons may directly or indirectly acquire a maximum up to 20 % of shares or voting rights of management companies; for a larger percentage an approval of the Securities Market Agency is required. |
|
|
||||||||||||||
|
An Authorised (privatisation) Investment Company is an investment company established solely for the purpose of gathering the ownership certificates (vouchers) and the purchase of shares issued in accordance with regulations on ownership transformation. An Authorised Management Company is established solely for the purpose of managing the authorised investment companies. |
|
|
||||||||||||||
|
Foreign persons may directly or indirectly acquire a maximum up to 10 % of shares or voting rights of Authorised (privatisation) Management Companies; for a larger percentage an approval of the Securities Market Agency is required with the consent of the Ministry of Economic Relations and Development. |
|
|
||||||||||||||
|
Investments of the Investments Funds into securities of foreign issuers are limited to 10 % of the investments of the Investments Funds. Such securities shall be listed on those stock exchanges previously determined by the Securities Market Agency. |
|
|
||||||||||||||
|
Foreign persons may become shareholders or partners in a stock broking company up to 24 % of the capital of the stock broking company by prior approval of the Securities Market Agency. (Remark: this provision shall be abolished upon the adoption of the new Law on Securities Market). |
|
|
||||||||||||||
|
Securities of a foreign issuer which have not yet been offered in the territory of the Republic of Slovenia may only be offered by a stock broking company or a bank licensed to carry out such transactions. Prior to launching the offer the stock broking company or a bank shall obtain the permission of Securities Market Agency. |
|
|
||||||||||||||
|
The request for this permission to offer securities of a foreign issuer in the Republic of Slovenia shall be accompanied by draft prospectus, documentation that the guarantor of the issue of securities of the foreign issuer is a bank or a stock broking company, except in the case of the issue of shares of a foreign issuer. |
|
|
||||||||||||||
|
Subsector (x) (e): Individuals, whether acting alone as brokers or employed by broker firms as brokers, are required to meet the licensing criteria for this purpose. EE, LT, MT, SI: Unbound except as indicated in the horizontal section under (i) and (ii). LV: Unbound except as indicated in the horizontal section under (i) and (ii) and in the horizontal section of the sector ‘Banking and other financial services’. PL: Subsectors (v), (vi), (viii) and (ix) (excluding guarantee and commitments of the State Treasury): Unbound except as indicated in the horizontal section under (i) and (ii). Nationality requirement for some, at least one, of the bank executives. Subsectors (x) (e), (xi) (excluding participation in issues of Treasury papers), (xiii) (only portfolio management services), (xv) and (xvi) (advisory and other auxiliary financial services only in relation to the activities committed for Poland): Unbound except as indicated in the horizontal section under (i) and (ii). |
Subsector (x) (e): None except as indicated in the horizontal section. EE, LT, MT, SI: Unbound except as indicated in the horizontal section under (i) and (ii). LV: None except as indicated in the horizontal section under (i) and (ii) and in the horizontal section of the sector ‘Banking and other financial services’. PL: None. |
|
ADDITIONAL COMMITMENTS BY PART OF THE EC
(AT, BE, DK, DE, ES, FI, FR, EL, IE, IT, LU, NL, PT, SE, UK)
Insurance
Other financial services
UNDERSTANDING ON COMMITMENTS IN FINANCIAL SERVICES
A. Market access
Commercial presence
Temporary entry of personnel
Non-discriminatory measures
B. National treatment
C. Definitions
ANNEX VII
AUTHORITIES RESPONSIBLE FOR FINANCIAL SERVICES
Part A - For the Community and its Member States
European Commission |
DG Trade DG Internal Market |
|
||||
Austria |
Ministry of Finance |
|
||||
Belgium |
Ministry of Economy |
|
||||
|
Ministry of Finance |
|
||||
Cyprus |
Ministry of Finance |
|
||||
Czech Republic |
Ministry of Finance |
|
||||
Denmark |
Ministry of Economic Affairs |
|
||||
Estonia |
Ministry of Finance |
|
||||
Finland |
Ministry of Finance |
|
||||
France |
Ministry of Economy, Finance and Industry |
|
||||
Germany |
Ministry of Finance |
|
||||
Greece |
Bank of Greece |
|
||||
Hungary |
Ministry of Finance |
|
||||
Ireland |
Irish Financial Services Regulatory Authority |
|
||||
Italy |
Ministry of Treasury |
|
||||
Latvia |
Financial and Capital Market Commission |
|
||||
Lithuania |
Ministry of Finance |
|
||||
Luxembourg |
Ministry of Finance |
|
||||
Malta |
Financial Services Authority |
|
||||
Netherlands |
Ministry of Finance |
|
||||
Poland |
Ministry of Finance |
|
||||
Portugal |
Ministry of Finance |
|
||||
Slovak Republic |
Ministry of Finance |
|
||||
Slovenia |
Ministry of Economy |
|
||||
Spain |
Treasury |
|
||||
Sweden |
Financial Supervisory Authority |
|
||||
|
Swedish Central Bank |
|
||||
|
Swedish Consumer Agency |
|
||||
United Kingdom |
HM Treasury |
|
ANNEX VIII
(referred to in Article 132 of the Agreement)
SCHEDULES OF SPECIFIC COMMITMENTS ON ESTABLISHMENT
PART A
Community's schedule
Sector or subsector |
Limitations on national treatment to establishment |
||||||||||||||||
|
|||||||||||||||||
All sectors included in this schedule |
|
||||||||||||||||
|
|
||||||||||||||||
|
|
||||||||||||||||
|
Formation of Legal Entity AT: Without prejudice to existing treaties, foreign natural persons may exercise a business on equal terms as Austrian nationals. However, evidence has to be presented to the competent authority that Austrian natural persons are in no way discriminated in the exercise of the relevant business in the foreigner's home country. If this evidence cannot be presented, the foreign natural person has to apply formally for equal status with nationals. If the holder of a business permit is not a permanent resident of Austria, the appointment of a professional representative (gewerberechtlicher Geschäftsführer) permanently residing in Austria is necessary. In order to acquire a business permit, foreign juridical persons or partnerships must set up an establishment and appoint a professional representative permanently residing in Austria. Without prejudice to existing treaties a foreign professional representative has to apply for equal status with nationals. FI: At least half of the founders of a limited company need to be natural persons residing within EEA (European Economic Area) or juridical persons having their domicile in one of the EEA countries, unless the Ministry of Trade and Industry grants an exception. SE: A limited liability company (joint stock company) may be established by one or several founders. A founding party shall either reside within the EEA (European Economic Area) or be an EEA legal entity. A partnership can only be a founding party if each partner resides within the EEA(1). The managing director and at least 50 % of the members of the board shall reside within the EEA (European Economic Area). Corresponding conditions prevail for establishment of other types of legal entities. |
||||||||||||||||
|
CZ: Foreign natural persons may exercise a business on equal terms as Czech nationals. However, foreign natural persons can pursue activities as self employed persons and set up and manage undertakings only by registering such undertaking in the Commercial Register, unless the person resides within the EEA (European Economic Area). If the natural persons/legal entity has not a permanent residence/seat within the EEA, it must additionally deposit data or a document on the encumbrance of the undertaking's assets in a foreign state, if the validity of a security is bound to its publication, and some other additional data, in the Commercial Register. Before registering in the Commercial Register, foreign legal persons must set up an establishment in the Czech Republic and appoint a professional representative permanently residing in the Czech Republic. MT: Applications by non-residents for the issue, acquisition, sale and redemption of securities not listed on the Malta Stock Exchange in local companies established, or to be established, in Malta have to be cleared by the Registrar of Companies at the Malta Financial Services Authority MFSA).This procedure does not apply to companies as defined in Article 2 of the Income Tax Act, (that is, international holding/trading companies) and to companies which own a vessel registered under the Merchant Shipping Act, and where the resident participation does not exceed 20 %. PL: Foreigners who have received permission for residence on the territory of Poland, permission for tolerated stay, refugee status granted in Poland or who enjoy temporary protection on its territory, may undertake and pursue economic activity on the territory of Poland on the same rules as Polish citizens. Following reciprocity requirements, if ratified international agreements do not provide otherwise, foreign persons may take up and pursue economic activity on the territory of Poland on the same rules as entrepreneurs having their seat in Poland. When there is no reciprocity, foreign persons have the right to undertake and pursue economic activity on the territory of Poland only in a form of limited partnership, limited liability company and joint-stock company; they have also right to join these companies or to take and buy their shares or stocks. |
||||||||||||||||
|
Law on Foreign Companies' Branches SE: A foreign company (which has not established a legal entity in Sweden) shall conduct its commercial operations through a branch, established in Sweden with independent management and separate accounts. Building projects with a duration of less than a year are exempted from the requirements of establishing a branch or appointing a resident representative. SE: The managing director of a branch shall reside within the EEA (European Economic Area)(1). SE: Foreign or Swedish citizens not residing in Sweden, who wish to conduct commercial operations in Sweden, shall appoint and register with the local authority a resident representative responsible for such activities. LT: At least one representative of the foreign company branch must be resident in Lithuania. PL: Branches — to conduct economic activity on the territory of Poland, foreign entrepreneurs may establish branches, following the rule of reciprocity requirements, if ratified international agreements do not state otherwise. The economic activity of the branch must be similar to the one which is conducted by the foreign entrepreneur and the person entitled to represent the foreign entrepreneur must be appointed. Branch is required to be registered and run separate accountancy. |
||||||||||||||||
|
Agencies — foreign entrepreneurs may create agencies. The economic activity of the agency may cover only promotion and advertisement of foreign entrepreneurs. An agency is required to be registered and run separate accountancy. |
||||||||||||||||
|
SI: The establishment of branches by foreign companies is conditioned with the registration of the parent company in a court register in the country of origin for at least one year. |
||||||||||||||||
|
Legal entities: AT: Only Austrian nationals or legal entities and enterprises having their seat in Austria may be shareholders of the Oesterreichische Nationalbank (Austrian National Bank). Members of the management must be Austrian nationals. FI: At least half of the members of the board and the managing director shall reside within the EEA (European Economic Area) unless the Ministry of Trade and Industry grants an exception to the company. FI: Acquisition of shares by foreign owners giving more than one third of the voting rights of a major Finnish company or a major business undertaking (with more than 1 000 employees or with a turnover exceeding EUR 167 million or with a balance sheet total exceeding EUR 167 million) is subject to confirmation by the Finnish authorities; the confirmation may be denied only if an important national interest would be jeopardised. A foreigner living outside the European Economic Area and carrying on a trade as a private entrepreneur or as a partner in a Finnish limited or general partnership needs a trade permit. If a foreign organisation or foundation is established under the laws of and has its registered office in an EEA-country no permit is required for carrying on a business or trade by establishing a branch in Finland. |
||||||||||||||||
|
Real estate purchases: AT: The acquisition, purchase as well as rent or lease of real estate by foreign natural persons and juridical persons requires an authorisation by the competent regional authorities (Länder) which will consider whether important economic, social or cultural interests are affected or not. CY: Unbound. CZ: The real estate can be acquired solely by natural persons having their permanent residence, and legal persons with their seat or branch in the territory of the Czech Republic. Special regime applies to the agricultural land and forests, which can be acquired only by residents (i.e. natural persons with permanent residents or legal persons with their seat in the territory of the Czech Republic) and the participation in the privatisation of the State agricultural land and forests is limited solely to the citizens of the Czech Republic. EE: Reservation to the purchase of agricultural land and forests, as well as land in the border areas. DK: Limitations on real estate purchase by non-resident physical and legal entities. Limitations on agricultural estate purchased by foreign physical and legal entities. ES: Reservation to the purchase of real estate by governments, official institutions and public enterprises originating in non-Community member countries. EL: According to Law No 1892/90, as amended by Law No 1969/91, acquisition of real estate in the border regions either directly or through equity participation in a company which is not listed in the Greek Stock Exchange and which owns real estate in those regions or any change in the persons of the stockholders of such company are subject to a permit issued by the competent authorities (Ministry of Defence in the case of non-EU natural or legal persons). IE: Prior written consent of the Land Commission is necessary for the acquisition of any interest in Irish land by domestic or foreign companies or foreign nationals. Where such land is for industrial use (other than agricultural industry), this requirement is waived subject to a certificate to this effect from the Minister for Enterprise and Employment. This law does not apply to land within the boundaries of cities and towns. |
||||||||||||||||
|
HU: Unbound for the acquisition of state owned properties by foreign natural persons and juridical persons. LT: Unbound in relation to acquisition of land by foreign subjects (natural and legal persons), however they may manage or use such property in accordance with the procedure established by Lithuanian laws. LV: Unbound in relation to acquisition of land by juridical persons. Land lease not exceeding 99 years permitted. MT: The requirements of Maltese legislation and regulations regarding the acquisition of real property shall continue to apply. SI: Juridical persons, established in the Republic of Slovenia with foreign capital participation, may acquire real estate on the territory of the Republic of Slovenia. Branches(2), established in the Republic of Slovenia by foreign persons may only acquire real estate, except land, necessary for the conduct of the economic activities for which they are established. Ownership of real estate in the border areas of 10 km by companies in which majority of capital or voting rights belongs directly or indirectly to juridical persons or nationals of another Member is subject to special permission. SK: Limitations on real estate acquisition by foreign physical and legal entities. Foreign entities may acquire real property through establishment of Slovak legal entities or participation in joint ventures. Acquisition of the land by foreign entities is subject to authorisation. IT: Unbound for purchase of real estate. FI (Åland Islands): Restrictions on the right for natural persons who do not enjoy regional citizenship in Åland, and for legal persons, to acquire and hold real property on the Åland Islands without permission by the competent authorities of the islands. FI (Åland Islands): Restrictions on the right of establishment and the right to provide services by natural persons who do not enjoy regional citizenship in Åland, or by any legal person, without permission by the competent authorities of the Åland Islands. PL: Acquisition of real estate, direct and indirect, by foreigners and foreign legal persons requires permission. PL: Unbound, except for: buying independent apartment or buying real estate by a foreign national living in Poland at least for 5 years after obtaining the permanent residence card; buying by a legal person with a corporate seat in Poland and controlled directly or indirectly by a foreign natural person or a foreign legal person with a corporate seat abroad, for statutory objectives, of real estate without buildings, whose total area in Poland does not exceed 0,4 ha in urban area. |
||||||||||||||||
|
Investments: CY: Portfolio investment: Investors from non-EU countries may invest only up to 49 % of the share capital of Cypriot companies listed on the Cyprus Stock Exchange. Transactions involving such investments may be carried out by Cypriot stockbrokers and public companies without reference to the Central Bank of Cyprus. CY: Entities with foreign participation must have paid up capital commensurate with their finance requirements and non residents must finance their contribution through the importation of foreign exchange. In case the non-resident participation exceeds 24 %, any additional financing for working capital requirements or otherwise should be raised from local and foreign sources in proportion to the participation of residents and non-residents in the entity's equity. In the case of branches of foreign companies, all capital for the initial investment must be provided from foreign sources. Borrowing from local sources is only permitted after the initial implementation of the project, for financing working capital requirements. ES: Investment in Spain by foreign government and foreign public entities (which tends to imply, besides economic, also non-economic interests to entity's part), directly or through companies or other entities controlled directly or indirectly by foreign governments, need prior authorisation by the government. FR: Foreign purchases exceeding 33,33 % of the shares of capital or voting rights in existing French enterprise, or 20 % in publicly quoted French companies, are subject to the following regulations:
FR: Foreign participation in newly privatised companies may be limited to a variable amount, determined by the government of France on a case by case basis, of the equity offered to the public. FR: For establishing in certain commercial, industrial or artisanal activities, a specific authorisation is needed if the managing director is not holder of a permanent residence permit. HU: Participation in organising gambling, betting, lotteries and similar activities is reserved for the state. IT: Exclusive rights may be granted or maintained to newly-privatised companies. Voting rights in newly privatised companies may be restricted in some cases. For a period of five years, the acquisition of large equity stakes of companies operating in the fields of defence, and energy may be subject to the approval of the Ministry of Treasury. LT: Investments in organising the lotteries are forbidden under the Law on Foreign Capital Investment. MT: Companies with the participation of non-resident legal or natural persons are subject to the same capital requirement applicable to companies that are fully owned by residents, as follows: private companies — Lm500 (with a minimum of 20 % as paid up capital); public companies — Lm200 (with a minimum of 25 % paid up capital). The non-resident percentage of share of the equity is to be paid for with funds emanating from abroad. Companies with non-resident participation must apply for a permit from the Ministry of Finance to acquire premises under the appropriate legislation. PT: Foreign participation in newly privatised companies may be limited to a variable amount, determined by the Government of Portugal on a case by case basis, of the equity offered to the public. |
||||||||||||||||
|
PL: Authorisation of the establishment of a company with foreign equity is required in the case of:
|
||||||||||||||||
|
Exchange regime(3),(4),(5) CY: Under the Exchange Control Law, non-residents are not normally permitted to borrow from local sources. SK: In relation to current payments, limitation on acquisition of foreign exchange by resident nationals for personal purposes. In relation to capital payments, foreign exchange authorisation required for acceptance of financial credits from foreign subjects, direct capital investments abroad, acquisition of real estate abroad and purchase of foreign securities. |
||||||||||||||||
|
Residency requirements AT: Managing directors of branches and juridical persons have to be resident in Austria; natural persons responsible within a juridical person or a branch for the observance of the Austrian Trade Act must be resident in Austria. AT: All foreigners are subject to the provisions of the Foreigner's Act and the Residence Act concerning entry, stay and work. In addition, foreign workers, including key personnel and investors, except for EEA nationals, are subject to the provisions of the Foreign Labour Act including the labour market test and the quota system. If an investor commits an investment which has a positive effect on the entire Austrian economy or a whole sector of the Austrian economy, the labour market test can be dropped for him and for individual cases of essential key personnel. Investors who furnish proof that they hold at least 25 % in a partnership (Personengesellschaft) or a public limited company (Gesellschaft mit beschränkter Haftung) and that they exert a decisive influence on that company are exempted from the Foreign Labour Act. LT: At least one of representative of the foreign company branch must be resident in Lithuania. MT: The requirements of Maltese legislation and regulations regarding entry and stay shall continue to apply, including regulations concerning period of stay. Entry and residence permits are granted at the discretion of the Government of Malta. SK: A foreign natural person whose name is to be registered in the Commercial Register as a person authorised to act on behalf of the entrepreneur is required to submit residence permit for the Slovak Republic. |
Sector or subsector |
Limitations on national treatment to establishment |
||||||||||
|
|||||||||||
|
|
||||||||||
|
AT: Reservation. CY: Up to 49 % non-EU participation is allowed. The indicative minimum level of investment is CY£ 100 000. FR: Reservation on the establishment of agricultural enterprises by nationals of countries that are not members of the Community and the acquisition of vineyards. HU: Unbound. IE: Reservation on the acquisition by non-Community nationals of land for agricultural purposes, unless an authorisation is granted; Investment by non-Community residents in flour milling activities. LT: Unbound in relation of the acquisition by foreign subjects (natural and legal persons) into ownership of land, internal waters and forests in accordance with constitutional law. MT: Unbound. SK: Reservation on the acquisition of land for agricultural purposes and other land as set in the Foreign Exchange Act, unless an authorisation is granted. |
||||||||||
|
|
||||||||||
|
AT: acquisition of 25 % or more of vessels registered in Austria. BE: Reservation on the acquisition of Belgian flag vessels by shipping companies not having their principal office in Belgium. CY: Up to 49 % non-EU participation is allowed. The indicative minimum level of investment is CY£ 100 000. DK: Reservation on the ownership by non-EC residents of one-third or more of a business engaged in commercial fishing; ownership of flag vessels by non-EC residents except through an enterprise incorporated in Denmark. FR: reservation on the settling of non-Community nationals or non-EFTA nationals on the maritime State property for fish/shallfish/algae farming. FI: Reservation on the ownership of Finnish flag vessels, including fishing vessels, except through an enterprise incorporated in Finland. F: reservation on the ownership after acquisition of more than 50 % of a French flag vessel, unless the vessel concerned is entirely owned by enterprises having their principal office in France. DE: Sea fishing licence granted only to vessels entitled to fly the flag of Germany. These are fishing vessels of which the majority of shares is owned by Community citizens or companies established in accordance with Community rules and that have their principal place of business in a Member State. The use of the vessels must be headed and supervised by persons residing in Germany. In order to obtain a fishing licence, all fishing vessels must register with the relevant coastal states in which the ships have their homeports. EE: Ships are entitled to fly the Estonian flag if located in Estonia and majority ownership is held by Estonian nationals in general partnership and in limited partnership companies, or other legal entities that are located in Estonia with voting majority held by Estonian nationals in the Board of Management. EL: ownership of a vessel under the Greek flag is limited to 49 % for non-EU natural or legal persons. HU: Unbound. IE: reservation on the acquisition by non-Community nationals of sea fishing vessels registered in Ireland. IT: reservation on the purchase by foreigners other than Community residents of a majority interest in Italian flag vessels or of a controlling interest in ship owning companies having their headquarters in Italy; purchase of Italian flag vessels used to fish in Italian territorial waters. LT: Unbound. LV: Reservation as regards registration of ownership of Latvia's fishing vessels by natural persons who are not either citizens or non-citizens of the Republic of Latvia or are not Latvia's legal persons, except through an enterprise established in Latvia. MT: Unbound. |
||||||||||
|
NL: reservation on the ownership of Netherlands flag vessels, unless the investment is made by shipping companies incorporated under Netherlands law, established in the Kingdom and having their actual place of management in the Netherlands. PT: reservation on the ownership of Portuguese flag vessels other than through an enterprise incorporated in Portugal. SE: reservation on the acquisition of 50 % or more of Swedish flag vessels, except through an enterprise incorporated in Sweden; establishment of, or acquisition of 50 % or more of shares in firms engaged in commercial fishing activities in Swedish waters, unless an authorisation is granted. Restrictions on the right of fishing and limitations on which fishing-vessels may obtain a licence and become a part of the Swedish fishing fleet are found in the Swedish fisheries legislation. SK: Reservation on the ownership of Slovak flag vessels except through an enterprise incorporated in the Slovak Republic. UK: Reservation on the acquisition of UK flagged vessels, unless the investment is at least 75 % owned by British citizens and/or by companies which are at least 75 % owned by British citizens, in all cases resident and domiciled in the UK. Vessels must be managed, directed and controlled from within the UK |
||||||||||
|
|
||||||||||
|
CZ: Unbound. EL: The right of exploration and exploitation of all minerals, except hydrocarbons, solid fuels, radioactive minerals and geothermal potential is subject to a concession by the Greek State, after approval of the Council of Ministers. ES: Reservation on investment originating in non-Community member countries in strategic minerals. FR: Establishment by a non-resident in extractive industries must be carried out in the form of a French or European subsidiary, whose manager must be resident in France or other country and declare his place of residence to the local prefect authorities. HU: The right of prospecting for, exploration and exploitation of mineral raw materials may be subject to a time-limited concession granted by the Hungarian state. LT: Unbound. MT: Unbound. EC: Reservation on prospection, exploration and exploitation of hydrocarbons: In accordance with Directive 94/22/EC of 30 May 1994 (OJ L 164, 30.6.1994), whenever it appears that a third country is not granting Community entities as regards access to and exercise of these activities treatment comparable to that which the Community grants entities from that country, the Council could, on a proposal of the Commission, authorise a Member State to refuse authorisation to an entity which is effectively controlled by the third country concerned and/or by nationals of that country (reciprocity) |
||||||||||
|
|
||||||||||
|
none |
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
|
|
||||||||||
Other manufacturing |
A: Production of non-military arms and ammunitions are subject to EEA-nationality requirement. Production of military arms and ammunitions are subject to an Austrian nationality requirement. Juridical persons and partnerships: Registered office or head office in Austria. The company's professional representative or managing partners empowered to act on its behalf must be EEA nationals. |
||||||||||
|
|
||||||||||
|
AT: Unbound. CZ: Unbound. FR: Concessions and authorisations in hydroelectricity can be given only to French nationals or to nationals from the Community, as well as to nationals of third countries, with which reciprocity agreements have been concluded with respect to exploitation of hydroelectricity. FI: Reservation on investment in an enterprise engaged in activities involving nuclear energy or nuclear matter. EL: Solid fuels, radioactive minerals and geothermal energy: An exploration licence may not be granted to non-Community natural or legal persons. The right of exploitation is subject to a concession by the Greek State, after approval by the Council of Ministers. HU: Unbound. LV: State monopoly in the sector of electro energy. MT: Unbound. PT: Reservation on investment in an enterprise engaged in the import, transport and supply of natural gas. The Portuguese Government is competent to define the conditions to be fulfilled by enterprises wishing to perform those activities. SK: Conformity with energy policy of the Slovak Republic is required. Reservation on investment in enterprises characterised as natural monopolies. The government can limit import and export of electricity and gas in the following cases:
|