Doing business on foreign markets always includes a certain amount of data gathering and fact finding on how to be compliant with local regulations. The effect of not being compliant with local legislation may be severe and lead to restrictions in operations in the country or even financial penalties. As legislation tends to change over time it’s important to be maintain a close monitoring of applicable laws. The laws outlined in this white paper are all fairly new and only a handful of cases have been tried in lower level courts. How the laws will be applied going forward is not known to its full extent until tried in court.
Our recommendation is to monitor the market closely, seek legal advice when in doubt and strive for full compliance in the operations of the subsidiaries.