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| Business outlook

2017 Q2

On April 25, the leading international research company, TNS Sifo Prospera, released the results of its 2017 legal market research for the Baltic region. For the second year running, the Ellex circle of firms topped the rankings, emerging as the clear market leader for sophisticated clients looking for top-level legal services.

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Sharing knowledge

E-Residency – Tool to Access EU Market

E-Estonia means voting in elections from the comfort of your own living room, filing an income tax return in just five minutes and signing a legally binding contract over the Internet, from anywhere in the world. Non-Estonians can join the Estonian digital society and become e-Residents to enjoy digital services.

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Tax Reform in Lavia


A proposal for fundamental changes in the Latvian tax system has been garnering strong support.  The guidelines have been approved in May by the government and draft legislation for implementation of the new regime is underway. If successful, the proposal should be implemented as of 2018.
 
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New Labour Code in Lithuania

The Seimas passed further amendments to the new Labour Code on 6 June, 2017. The new law due to come into force on 1 July, 2017, will bring significant changes to the regulation of employment relations.

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Building an attractive investment environment

New Investment Funds Act Introduces Limited Partnership Fund to the Market

 
Since the new Investment Funds Act (“IFA”) entered into force in January 2017, it has been possible to incorporate new types of investment funds in Estonia – limited partnership funds (“Fund”). On an international basis a limited partnership structure has become a widely accepted form to raise private and venture capital investments.

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Startup Visa Implemented in Lithuania


Lithuania aims to attract innovative non-EU entrepreneurs to the country by offering a Startup Visa. It allows non-EU startups (founders, teams and family members) to apply for a one-year long temporary residence permit that could be extended for a longer period. The applicants will be able to establish their company in Lithuania with access to the EU market.
 

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Rolandas Valiūnas Appointed Investors' Forum Chairman of the Board

The Investors’ Forum, a business association of the largest and most active investors in the Lithuanian economy, held its annual meeting at which it approved the 2017−2019 business strategy of the Association and elected its new board. Rolandas Valiūnas, the managing partner of the law firm Ellex Valiūnas ir partneriai, was again appointed its chairman for a new three-year tenure.

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One step ahead

Antti Perli Has Joined Ellex Raidla to Lead the Firm's Venture Capital and Emerging Companies Practice


Antti Perli is a counsel at Ellex Raidla who mainly focuses on advising venture capital investments and emerging companies. 

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New Partner at Ellex Raidla - Dr. iur. Martin Käerdi

 
A long-term colleague and one of the best experts of Estonian private law – Mr. Martin Käerdi – has been appointed partner at Ellex Raidla. Martin will be leading the firm’s Real Estate and Employment Practice Group

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Two Managing Partners of Ellex Recognised as Market Maker in Latvia and Estonia by CEE Legal Matters

 
On June 1, 2017, at a special awards ceremony held in Warsaw, Filips Kļaviņš and Jüri Raidla were named the Market Maker for Latvia and Estonia respectively, a special lifetime achievement award given to the senior lawyer identified by peers as having played the most influential and significant role in creating and developing the country’s modern legal market.

We Represented the Shareholders of Baltic Retail Properties in the Sale of a 70 Percent Shareholding to the Fund CPA®:17


We represented the shareholders of Baltic Retail Properties BRP (the President of Kesko Senukai Artūras Rakauskas, the founder of Senukai network Augustinas Rakauskas and the investment group Žabolis ir partneriai) in the sale of a 70 percent shareholding to the US company W. P. Carey’s managed fund CPA®:17 – Global and a 10 percent shareholding to Kesko.

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Two Member Firms of Ellex Circle Recognised as Law Firms of the Year


In a ceremony held on 15 May in London, Who’s Who Legal, an official research partner of the International Bar Association (IBA), issued awards to the best law firms and lawyers. Ellex Valiunas and Ellex Klavins were recognized as the Firm of the Year in Lithuania and Latvia respectively.
 


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Ellex Is the Highest-Ranked Law Firm in All Four Leading Legal Directories
 

Four of the most influential international legal directories – Legal 500, Chambers Global, Chambers Europe, and IFLR 1000 – have released 2017 rankings of law firms worldwide. Ellex is the highest-ranked law firm in the Baltics overall in 54 out of 64 ranked practice areas, including M&A, corporate and commercial law, real estate, banking and finance, dispute resolution, energy and infrastructure, IP, competition, transport, tax, and others.

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All the legal information and summaries are just an opinion. For specific clarification and legal advice please contact experts of Ellex.
Ellex offices:
Tallinn, Estonia
Riga, Latvia
Vilnius, Lithuania
Brussels, Belgium


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