Investment Incentives Overview
SORAINEN has a strong reputation for advising foreign investors in the Baltic States and Belarus. A significant part of the firm’s clients are foreign investors and international corporations or their subsidiaries. The Baltic States, as well as Belarus, offer various incentives for investment – exemption from or rebates on taxes (in special economic zones or free ports), special incentives for investors investing in industry parks and science valleys, support for research and development (R&D) projects, possibility to use European Union (EU) structural funds (except for Belarus). The SORAINEN Investment Incentive Practice advice for investors covers this important field, which is of increasing interest, especially these days.
The SORAINEN Investment Incentives Practice focuses in particular on investment projects involving state incentives (subsidies, grants, tax exemptions or rebates). SORAINEN has extensive experience in the area of governmental incentives for investment projects. The lawyers of the SORAINEN Investment Incentives Practice know the regulation and practice of incentives “inside out”.
For example, the firm has been cooperating with the Lithuanian Ministry of the Economy and Invest Lithuania (Lithuanian investment agency) in developing a system of incentives for foreign direct investment (FDI) projects in Lithuania. Furthermore, SORAINEN offers unrivalled know-how and experience in negotiating incentive packages under the new (and the only operational) incentive programme for FDI in Lithuania – the “Invest LT+ Scheme”. Although currently other Baltic countries do not have separate programmes for promoting FDI, they do offer general incentives for investment (such as EU structural funds, exemption from or rebates on taxes in special economic zones or free ports, special incentives for investors investing in industrial parks). SORAINEN Latvian and Estonian offices have advised on a number of investment projects which were partially supported by the state or by EU programmes.
Belarus is trying to improve its investment climate and offers many incentives (for example, special tax and customs regimes in free economic zones and the High Technology Park), as well as special legal instruments for significant projects, such as investment agreements with the Republic of Belarus. SORAINEN Investment Incentives Practice lawyers have been involved in many major investment projects in Belarus.
SORAINEN is recommended for its Investment Incentives Practice by international directories such as The Legal 500, Chambers Global (“With its extensive international ties and its well-organised structure, the team is described as “quick and efficient – it can deliver a truly one-stop shop covering all the Baltic States”.”), Chambers Europe and IFLR1000.
SORAINEN offers expertise in all key aspects related to investment projects in the Baltic States and Belarus, including:
- structuring investment projects;
- negotiating incentive packages;
- drafting and negotiating letters of intent and investment agreements;
- preparing applications for incentives.
The head of the SORAINEN Investment Incentives Practice is Algirdas Pekšys, whose contacts appear below.
Local heads of the SORAINEN Investment Incentives Practice are: