Newsroom / News / Media / Info Magazine LGP NEWS 01/2022

Info Magazine LGP NEWS 01/2022

Info Magazine LGP NEWS 01/2022

Good News for Cash?

As part of the first of our two main topics, our LGP experts this time devote themselves to current trends in investments abroad. LGP Senior Expert Counsel and Russia expert Dietmar Fellner provides information on emerging foreign trade relations, Austria’s successful networks and the resulting investment opportunities in the CIS markets. In Croatia, the market for high-end residential real estate is currently on the rise, as Head of Business Development Mara Okmazic explains in her article. Our neighbouring country Slovakia is also now regulating large investments in a new law – find out more from our legal advisor Maria Porubská-Tökölyova in her article. 

“The way a thing is illuminated does not change its essence”. This famous quote by the Polish author and lyricist Stanislaw Jerzy Lec has lost none of its relevance, especially in such turbulent times as these. Quite the contrary. In his guest article, journalist and author Andreas Wetz gets to the bottom of an extremely exciting and highly explosive question: Do the numerous advertisements that public clients have placed in various media at taxpayers’ expense actually correspond to the “objective need for information” anchored in the law? 

Managing Partner Julia Andras also sees the freedom of the press, independence and transparency of the domestic media vis-à-vis the public increasingly at risk. And she analyses the political, moral and above all legal relevance of the accusation of a “systematically bought opinion”. LGP Senior Expert Counsel and European law expert Dimitrios Droutsas reports on why media funding in Greece is now also being heavily criticised. 

Speaking of systematic buying: Managing Partner Ronald Frankl gives us a little insight into the fascinating world of cryptocurrencies, describes the many possible applications of blockchain technology and provides valuable tips on how to protect yourself from blockchain fraudsters. The new taxation of cryptocurrencies was also recently set out in detail in the draft of the Eco-Social Tax Reform Act and was immediately examined by our new name partner.

We wish you, our friends and clients, an exciting and informative read.  


Strategic networking and investments abroad

The Russian Federation’s exceptional economic upswing, which began in 2002, led to a strong revival of foreign trade relations with the EU and naturally also with Austria, with a brief interruption in 2008/2009. 

Real Estate Investment Trends in Croatia

Notwithstanding the weakened economy due to the COVID-19 pandemic, Croatia’s high-end residential market seems to be on the rise, in particular when it comes to foreign investments.

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New Act on Major Investments in Slovakia

As from November 1st 2021, Slovakia has changed its approach towards investors coming to the country. The new law on large investments redefines the conditions, process and control in issuing certificates for large investments.

Press & Politics: Rules? Why rules?

The allocation of government advertisements and press funding is strictly regulated. However, back doors and the absence of sanctions are leading to millions of euros taking remarkable routes year after year. 

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Constitutional state under scrutiny

Our Austrian constitution, which has stood the test of time for decades, offers a balanced system of power that prevents politicians from political unilaterism and letting the country slide into an authoritarian system. Is it still possible to repair the enormous damage to our democratic constitutional state that has been caused by the “structural” corruption of the political elite? 

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Media promotion in the light of state aid law

With the exception of broadcasting and film subsidies, media subsidies in Austria have scarcely been the focus of EU state aid law. While the state assumed that these subsidies did not fall under the ban on state aid, based on the position of the European Commission, this assessment could soon change. 

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The EU Commission’s New Rule of Law Report

The European Commission has been publishing annual reports on the rule of law in the Member States of the European Union since 2020. From a legal point of view, it may come as a surprise that these reports do not only focus on the independence of national courts: they also look at media pluralism and media freedom, as well as the fight against corruption. 

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Good News for Cash?

They were a hot topic last autumn: the house searches that were ordered by the Public Prosecutor’s Office for Economic Affairs and Corruption (the Wirtschafts- und Korruptionsstaatsanwaltschaft or WKStA) against former Austrian Federal Chancellor Sebastian Kurz and employees close to him. What is the political, moral and, above all, legal relevance of this accusation of “systematically bought opinion”? 

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A Gordian knot in the Greek media system

The Austrian advertising affair is now fuelling strong criticism of media funding in Greece, leading to a fierce exchange between the conservative ruling party “Nea Dimokratia” and the opposition left-wing populists of “Syriza”. 

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Family and inheritance law as a legal challenge

Julia Andras, attorney-at-law and managing partner, and Andreea Muresan, associate, are the contacts at LGP for all matters relating to family and inheritance law. In the following interview, our experts explain why it is important to know your own rights and obligations and why legal advice in this field requires a particularly high degree of empathy. 

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Austrian Limited – a new corporate form for start-ups

Countries are perceived as attractive start-up locations if a company can be established as cost-efficiently, quickly and unbureaucratically as possible. Due to the high administrative outlay and costs, Austria has largely been an unattractive destination for foreign investors.

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Draft on the taxation of cryptocurrency is finalized!

Much speculation accompanied the run-up to the new cryptocurrency taxation legislation. The draft Eco-Social Tax Reform Act and accompanying changes have now been finalised in detail. 

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More than just immigration

Our world is shaped by the progressive globalisation and the increasing standardisation of everyday culture. The choice of living or working in any given country seems almost boundless. In Austria, as everywhere else, certain conditions apply to residence and investment. 

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Dividends as debt capital?

It is well known that a loan granted by shareholders to a corporation can be converted into equity under certain circumstances. New to Austrian case law is the fact that a dividend distributed by a corporation to a shareholder may be converted into interest. 

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Things to know about blockchain fraud

Blockchain is an extremely innovative technology with a wide range of possible applications: payment processing without intermediaries, digital denomination of assets or proof of authenticity and ownership of artworks. Fraudsters’ schemes are correspondingly varied and not always obvious. 

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Consumer protection in financial services

The financial sector in North Macedonia is devel- oping a modern institutional setup, aligned with the EU acquis, with a moderate progress in recent years. The current legal framework is mostly based on the Law on Consumer Protection in Case of Consumer Loan Agreements. 

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New year – new face!

The Austrian- Israeli Chamber of Commerce (AICC) starts the year 2022 with a new Head of Business Development. In the LGP interview, Zsofi Postyn talks about her personal plans and goals.

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