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Countries around the globe are facing unprecedented and rapid change due to the COVID-19 pandemic. This guide provides a summary of key government intervention measures across 15 EMEA jurisdictions in relation to: Foreign Investment Restrictions, Debt, Taxation and EU State Aid Approvals (where applicable).

Foreign Investment Restrictions: Businesses and investors must carefully consider foreign investment review risks at this highly sensitive and volatile time. Taking the time to understand the rules, which are changing day after day, and identify a regulatory strategy, including appropriate messaging and communication with the relevant governmental authorities, and the consequential impact on deal documentation.

Debt: In response to COVID-19, governments have announced various measures to support companies’ debt arrangements including deferred payments, guaranteed credit facilities, and government-backed loans.

Taxation: Similarly, governments have announced new taxation measures to support businesses including deferral of payments, expedited customs clearance and suspension of interest on tax payments.

EU State Aid Approvals: Due to the rapid impact on EU Member States’ economies directly resulting from COVID-19, the EU Commission has taken measures (the ‘Temporary Framework’), explained in this guide, which permit fast-track COVID-19 State aid approvals in certain areas including State guarantees for loans.

The situation is evolving and so too are government responses. We are continuing to review the situations across multiple jurisdictions. This guide is intended to provide an overview of certain key measures in specific countries in EMEA. Please note the date at the beginning of each country section when reading the guidance and please note the high level overviews in this document is not intended to be comprehensive legal advice.

Download the guide here.

Author

Koen Vanhaerents joined Baker McKenzie in 1987 and was admitted to the Brussels’ bar in the same year. He was made partner in 1994. Koen Vanhaerents has an extensive Mergers & Acquisitions, Private Equity, Securities and Corporate Finance practice. From October 2009 to October 2014, Koen Vanhaerents was a member of the Firm’s Global Executive Committee and Chairman of the EMEA Region of the Firm. Since October 2014, he is Head of Global Capital Markets Practice Group.

Author