c on t en t s
p/
NE
E
L
S
W
R
E
T
T
4
1
0
2
st .
02 Legal Flash
Portugal
Angola
Brazil
Cameroon
Cape Verde
Democratic Republic of the Congo
Equatorial Guinea
Gabon
Guinea-Bissau
Macau
Mozambique
Republic of the Congo
São Tomé and Príncipe
Timor-Leste
07
Interview
08
People
Out of the office
At the office
New Members
10
Pro-Bono
11
Sounding Local
12
Contacts
Augu
O P E N I N G
by
M E S S A G E
Agostinho Pereira de Miranda
Chairman
Rui Amendoeira
Managing Partner
The Champs-Elysées has a ubiquitous presence in Paris, famous for being a central hub for
culture and business. The location is attractive and respected and in relation to Francophone
Africa, Paris is a major investment gateway. The Miranda Alliance is continually evolving
to best serve the business requirements of our clients. In line with this philosophy, we are
very proud to announce the addition of an office on the famous Champs-Élysées. This
replicates the already successful ‘bridge’ concept, utilised by the Miranda Alliance offices in
London and Houston. Sophie Da Cunha has over a decade of experience advising clients on
international investment, energy and arbitration matters and will be leading our efforts.
A key strength of Miranda is assisting others to understand the reality of doing business
in unfamiliar and often challenging markets. Across Africa, we already have over 25 years’
experience, including our recent expansion to Douala in the Cameroon, in June 2013. We
will continue to target markets where our clients ever evolving businesses demand.
I hope you enjoy the August 2014 edition of our Newsletter!
a new
hub
for your legal needs
L E G A L
F L A S H
L E G A L
F L A S H
P O R TU GA L
on which services should have been cut off, entails forfeiture of the
right to demand payment for these services from the consumer and
leads to liability for any judicial costs payable for debt collection
proceedings.
E C O N O MY
New consumer credit protection
introduced
Portugal introduces ‘Golden Visas’ for
non-EU investors
Decree Law No. 42-A/2013, of March 28, has amended the regulations
applicable to consumer credit agreements.
The Portuguese Parliament has approved a new, more relaxed, visa
regime for non-EU investors.
Joint Order No. 1661-A/2013, of January 28, eased the conditions
for the issuance of special ‘golden’ residence visas for investors in
Portugal, laid down in Law No. 29/2012, of August 9. The new rules
apply to investments made from October 8, 2013 onwards.
common system of taxation applicable to interest and royalty
payments made between associated companies of different
Member-States.
The visas are targeted at citizens of non-EU and non-Schengen
countries who undertake to engage in an “investment activity” in the
country, granting them the right to reside and work, to travel within the
Schengen area, to use public services available to Portuguese citizens
and to be joined by family members.
When the transitional period granted to Portugal lapsed, on July 1, 2013
(the amendment is therefore made retroactive to that date), interest
and royalties paid by Portuguese companies became exempt from
withholding taxes, provided certain requirements set out in the law are
met. Beneficiary companies must be:
“Investment activity” is defined as any activity carried out, including
through a company, which leads to any of the following situations for
at least 5 years (after which a permanent residence permit may be
obtained):
• Subject to corporate tax in the EU;
• Transfer of at least €1,000,000, including for investments into equity of
any companies;
Tax credits to CapEx
• Creation of at least ten jobs, as registered with the social security
services; and
Under Law No. 49/2013, of July 16, a special tax credit allowance for
capital expenditure (CapEx) has been created.
• Purchase of real estate for a least €500,000.
Companies may be entitled to this credit if they meet all of the following
conditions:
If any of these conditions is met through a company, the applicant
is deemed to have made an investment proportionate to his or her
shareholding.
Residence permits are initially valid for one year but may be renewed
for two-year periods, subject to a minimum stay in the Portuguese
territory. This minimum stay has been reduced to 7 days in the first
year, and 14 days in any subsequent two-year periods.
• Tax resident in a EU Member-State; and
• Of a type listed in the Annex to the Directive.
• They keep an organised accounting system in accordance with the
Accounting Standards and with other laws in force applicable to their
business sector;
• Their tax base is not assessed using indirect methods; and
• They have complied with all their tax and contribution duties.
Combating late payments in commercial
transactions
The tax benefit afforded is a Corporate Income Tax deduction of 20% of
CapEx on assets used for their operations, provided such expenditure
was made between June 1 and December 31, 2013. For the purposes
of the deduction, deductible expenditure is capped at €5,000,000.00.
Decree Law No. 62/2013, of May 10, sets forth provisions on late
payments, including entitlement to claim interest, in business-tobusiness (B2B) transactions.
Administrative cooperation on EU tax
matters
The statute applies to B2B transactions of any kind or amount
(including those of freelance service providers) or between businesses
and government bodies. Some contracts and situations are however
excluded:
Decree Law No. 61/2013, of May 10, transposes Directive 2011/16, on
administrative cooperation on tax matters in the EU. All taxes levied by
Member-States fall within the scope of the rules, except VAT, customs
duties, and special taxes on consumption covered by EU law.
• Consumer contracts;
Under the new rules administrative support and cooperation are
considerably bolstered, including in the following ways:
• Interest on payments other than those made to settle business
transactions;
• Civil liability compensation, including payments by insurers; and
• Bank loans (governed by a specific statute).
The statute only applies to private law agreements concluded after July
1, 2013, but applies to all public procurement contracts, even those
resulting from awarding procedures initiated before that date.
As a rule, the payment deadline for B2B transactions may not exceed
60 days. While parties may set a longer deadline in writing, this may
be declared null and void if deemed too long and an infringement of
the creditor´s rights. Payment deadlines between businesses and
government bodies may not exceed 30 days, except if otherwise
provided. Nevertheless, a longer deadline is only admissible when
justified due to the specific nature or characteristics of the agreement,
or because this involves government bodies that provide healthcare
and are duly accredited as such. In no case, however, may the
deadline be longer than 60 days.
Delays entitle the creditor to interest without the need to make a formal
demand. The interest rate, to be set by the Government for each halfyear, cannot be less than the rate applied by the European Central
Bank (ECB) to its most recent main refinancing operation carried out
before 1 January (for the first half of the calendar year) or 1 July (for the
second half), plus 8%.
The creditor is also entitled to a minimum of €40 as compensation for
the costs of debt collection, also without the need to make a formal
demand. This does not preclude the creditor from claiming reasonable
costs in excess of that amount, which may be incurred with attorneys,
paralegals, or enforcement officers, against proof of these costs.
• They now include information held by financial and banking institutions;
• Mandatory and automatic information exchange mechanisms are
introduced for wages, pensions, life insurance not covered by the Savings
Directive, and income from real estate; and
• Deadlines are set for electronic data exchange.
The rules allow information from countries outside the EU to be sent
to the competent authorities of EU Member States that may deem that
information of use, and also allow simultaneous controls in two or more
Member States.
Incentives for internationalisation and
investment projects
Decree Law No. 82/2013, of June 17, enacts various economic
activity support measures, including a revision of incentives for
internationalisation projects and tax benefits to investment.
CO M P E T I T I O N A N D
C O N S U M E R P R OT E CT I O N
New utilities consumer protection
introduced
The statute grants consumers additional rights concerning precontractual and contractual information and adds a number of
conditions for the calculation of the annual aggregate interest rate
(TAEG). It also clears up certain rules on consumer credit agreements
and extends them to overdraft facilities that are subject to repayment
within one month.
The rules for determining usury (excessively high interest rates)
in consumer credit agreements were also updated and caps were
established on the TAEG applicable to overdraft facilities subject to
repayment within one month, as well as on the nominal annual rate in
credit overruns. Moreover, the creditor is henceforth precluded from
demanding commissions in case of credit overruns.
Restrictive trade practices
Decree Law 166/2013, of December 27, has overhauled and recast the
rules on restrictive trade practices. The new Law targets discriminatory
pricing, discriminatory conditions of sale, sales made at a loss, refusals
to sell goods or services, and unfair business practices – it entered into
force on February 25, 2014.
The Law is applicable to businesses established in the Portuguese
territory, but does not apply to services of general economic interest,
to the sale and purchase of goods and services of regulated industries
(including in particular the financial, postal, transport, electronic
communication, and electric power industries) or the sale and purchase
of goods and services to or from non-EU or non-EEA countries.
The applicable rules also differ between business-to-business (B2B)
and business-to-consumer (B2C) transactions.
In B2B transactions, businesses may not:
• Practice discriminatory prices or conditions of sale for equivalent goods
and services; moreover, service providers, manufacturers, importers,
distributors, packers, and wholesalers of goods must provide their price
lists and conditions of sale to any reseller or user upon request;
• Refuse to sell goods or supply services, even if these are non-essential
and the refusal has no detrimental effect to normal market supply; making
the sale of goods or services contingent on the purchase of another good
or service is deemed equivalent to a refusal to sell, but an exception
is made for situations listed in the statute, in which refusal is deemed
justified;
• Make use of unfair trade practices, notably those amounting to:
• Forbidding onward sales to other business at lower price
• Applying prices, payment conditions, terms of sale, or conditions
for trade cooperation disproportionate to the general terms and
conditions of sale, or
• Retroactive amendments to supply contracts.
In both B2B and B2C transactions businesses may not offer or sell
goods at a price lower than actual purchase price plus the taxes
applicable to the sale and, as the case may be, transportation costs.
When determining the sale price of a specific product, businesses must
take into account any discounts granted, even if these consist of a setoff against subsequent purchases of equivalent or other goods.
This prohibition does not apply to certain goods, such as:
• Perishable goods, from the moment they become liable to rapidly
deteriorate;
• Goods whose trade value is impaired due to significant technical
innovation;
• Goods restocked with other goods of like features at a lower price; or
• Goods that are sold through sales or clearances.
Penalties for infringements range between €2,000 and €50,000 per
day, up to a maximum of 30 days or €1.5 million.
The law also incentivises consensual solutions for the creation of fair
business relationships and healthy competition, through voluntary
self-regulation. Accordingly, it is premised on business associations’
commitment to observing a number of principles and engaging in
specific conduct, an approach which offers flexibility and room for
adjustments, the underlying tenet being that self-regulation leads to
more effective and efficient results whenever oversight and dispute
resolution mechanisms are also provided for.
Law No. 10/2013, of January 28, aims to foster the timely
performance of contracts for public utilities services made with
consumers, so as to avoid debt accumulation.
E M P LO YM E N T
Public utilities are defined to include water, electric power and gas
supplies, electronic communications, postal services, collection and
treatment of waste water and management of urban solid waste.
New rules reduce severance pay for
termination of employment
Law No. 69/2013, of August 30, has modified the Employment
Code, reducing the severance pay in case of dismissal of
permanently employed staff.
Withholding taxes on interest and royalties
The notice period required to cut off a utility service due to late
payment is increased from 10 to 20 days. If the consumer does
not pay the outstanding amounts in full or no written agreement is
entered into to make payment within the 30 day cut off period, the
supply contract is deemed automatically terminated.
Law No. 55/2013, of August 8, amended the Corporate Income
Tax Code, completing transposition of Directive 2003/49, on a
Failure by public utilities to comply with these rules, including failure
to cut off services or the fact that invoices are issued after the date
Moreover, clauses or business practices manifestly abusive against
the creditor are forbidden and are rendered null and void under the
statute. This includes clauses excluding or limiting late payment interest
or compensation for debt collection costs, as well as clauses that set
excessive payment deadlines.
TAX
www.mirandaalliance.com
Depending on when employment began, there are now three
different metrics for calculating the severance pay depending on
whether the contracts were executed:
• Prior to November 1, 2011;
Miranda Alliance 2014 © | All rights reserved
2
L E G A L
F L A S H
L E G A L
• Between November 1, 2011 and September 30, 2013; or
• Oversight, monitoring and control.
• On or after October 1, 2013.
The new Law repeals the previous 1999 one and entered into
force on December 2, 2013. It no longer governs only Stateowned undertakings, but applies also to those set up by local
administrations.
Renewal of fixed-term employment
contracts
Law No. 76/2013, of November 7, lays down new rules on the
exceptional renewal of fixed-term employment contracts and on the
calculation of severance pay under contracts renewed in accordance
with its provisions. This is intended to bring increased flexibility to the
labour market.
The Law applies to all contracts executed from February 17, 2009
onwards, whose maximum term will be reached by November 8, 2015,
as well as contracts that have already undergone one exceptional
renewal under Law No. 3/2012, of January 17.
Fixed-term employment contracts meeting these requirements may
undergo up to two exceptional renewals, provided that:
• The term of each renewal is not less than one-sixth of the contract’s
maximum term or actual duration, whichever is shorter;
• The combined duration of both renewals does not exceed 12 months; and
• The contract ends on or before December 31, 2016; contracts exceeding
these limits will be converted into open-ended employment contracts.
Severance pay owed to employees upon dismissal also now varies (as
a result of Law No. 69/2013, of August 30) depending on whether the
employment contracts were executed:
• Prior to November 1, 2011;
• Between November 1, 2011 and September 30, 2013; or
• On or after October 1, 2013.
Combating the misuse of ‘service
agreements’ in employment relationships
Under Law No. 63/2013, of August 27, new rules have been
implemented against the improper use of services agreements in
subordinate employment relationships. Whenever there is evidence
that services are rendered by people held out as being self-employed
but who are in fact acting in a manner that characterises them
as employees, as defined in the Employment Code, the Labour
Inspectorate may draw up an infraction notice and notify the employer
to remedy the situation within 10 days or to make any statement on the
situation that it may find appropriate.
Such a case may be closed if the employer produces evidence that the
situation has been remedied, notably by presenting an employment
contract. If the employer does not remedy the situation within the time
limit set, the Labour Inspectorate remits the evidence collected to the
local area Public Prosecution Service, and this Service will launch an
action for the recognition of the existence of an employment contract.
PUB LIC PR O CUR EM ENT
Public procurement thresholds raised
EU Regulation No. 1336/2013, of December 13, amends, as from
January 1, 2014, the thresholds above which public procurement
contracts must be awarded through competitive procedures, for the
purposes of Directives 2004/17, 2004/18 and 2009/81.
Whenever a contract exceeds these thresholds, a Member-State
must opt between an open procedure or a restricted procedure
following publication of a notice in the Official Journal of the European
Community (OJEU).
The thresholds for 2014-2015 now stand at:
• €5,186,000 (previously €5,000,000) for public works contracts, regardless
of the contracting authority;
• €134,000 (previously €130,000) for service contracts or contracts for the
lease or purchase of movable property, awarded by the State; if such
contracts are awarded by any other contracting authorities, the threshold
is set at €207,000 (previously €200,000);
• €414,000 (previously €400,000) for service contracts or contracts for the
lease or purchase of movable property awarded by contracting authorities
operating in the utilities sectors, namely water, electric power, transport,
and postal services.
As a result of these changes, the thresholds for the applicability of
public procurement rules under Portuguese law to contracts in the
utilities sectors have been increased. For other sectors, due to the fact
that the Portuguese public procurement regulations set lower thresholds
on the value of contracts that may be awarded by direct award than EU
law, the new thresholds only raise the amounts requiring contracting
authorities to publish tender notices on the OJEU.
A D M I N I S T R AT I V E
Revised public sector undertakings
Decree Law No. 133/2013, of October 3, sets forth new principles
and rules applicable to public sector undertakings, including the
general framework for State-owned companies. The new principles
and rules cover:
• Incorporation, organisation and governance matters;
On the State’s ‘shareholder powers’, the statute aims at clarifying
the concept, notably setting forth that the Minister for Finance is the
only entity entitled to exercise powers to:
• Set guidelines for corporate activities for three year periods;
• Set goals and targets for three year periods, notably financial and
economic ones;
• Appoint and dismiss members of corporate and statutory bodies, in
accordance with the voting rights or equity hel; and
• Exercise all other powers and duties of a shareholder, in accordance
with the provisions of the Companies Code on public limited
companies.
Directors of State-owned undertakings must report to the Minister for
Finance through quarterly reports disclosing to what degree the goals
set in the operational plans and budgets were achieved. Budgets
must include investment plans and disclose funding sources, while
the reports must also specify the degree of budgetary implementation
and the financial operations for which agreements were concluded.
While directors are theoretically entrusted with an independent
management, this may be restricted by the Minister for Finance, based
on the operational or financial results, or whenever there is a negative
performance and management quality appraisal.
The statute also sets forth rules on debt limits for non-financial
State-owned undertakings, intended to prevent situations that might
increase the public sector’s debt and the imbalance of its accounts. It
is necessary henceforth that the Public Debt Agency (IGCP) issues a
favourable opinion for any financing operations with a term longer than
one year, as well as for all interest or exchange rate swaps or other
derivatives. Moreover, all financing operations must be reported to the
IGCP, regardless of their maturity terms, and this entity will henceforth
be solely responsible for managing the financial derivatives portfolios of
these undertakings.
Undertakings that are or will be included in the public administration
sector, under the European System of National and Regional Accounts,
may not obtain new financing from commercial banks, unless funding
by the Directorate-General for the Treasury and Finances (DGTF)
cannot be made available due to competition law restrictions.
L I T I G AT I O N
New alternative dispute resolution
mechanisms introduced
Law No. 29/2013, of April 19, lays down general principles on mediation
and sets out the revised legal framework applicable to civil and
commercial mediation, mediators, and public mediation services.
Mediation is defined as an alternative dispute resolution (ADR)
mechanism, carried out by public or private institutions, through which
two or more parties to a dispute attempt to settle it using the assistance
of a mediator. Family, labour, or criminal disputes may not however be
settled through mediation.
The statute is part of an increasing trend in favour of ADR, albeit the
use of mediation does not preclude the parties from bringing court
claims or referring the dispute to arbitration.
The statute includes an entire chapter on civil and commercial
mediation. Parties to an agreement may include a clause to the effect
that all disputes arising from it are to be settled by mediation, as long
as that provision is in writing. This requirement is met if the mediation
agreement is included in a written document signed by the parties, or in
correspondence, telegrams, faxes, or other means of communication
that leave written records, including electronic communications.
The statute requires all mediation carried out in Portugal to be voluntary
and confidential regardless of the nature of the dispute. Mediation
must also observe the principles of equality, impartiality, independence,
jurisdiction, and responsibility. Information given in confidence to the
mediator by one party to the mediation cannot be disclosed to the
others without consent. This information is moreover inadmissible as
evidence in any court or arbitration proceedings.
This duty of confidentiality can only be set aside for reasons of public
policy, particularly when the best interests of children are at stake, or
there is a need to protect a person from physical or psychological harm,
or when doing so is necessary to enforce a settlement arising from
mediation.
A mediated settlement that meets all of the following requirements
becomes enforceable without the need for approval by a judge if:
• It concerns a dispute that may be lawfully settled through mediation and
for which approval by a judge is not required;
• The parties have the legal capacity to settle the dispute;
• The mediation followed all procedures required by law;
• The settlement is not contrary to public policy; and
• The mediator is registered with the Ministry of Justice (this requirement
does not apply to mediation carried out through a public institution).
Mediated settlements from other EU Member States are likewise
enforceable whenever they meet the foregoing requirements and are
also enforceable under the laws of that Member State.
F L A S H
AN GO LA
New Customs Tariff Schedule &
Rectification
The Angolan government has introduced a new Customs Tariff
Schedule by way of Presidential Legislative Decree 10/13 effective
22 November 2013.
The new Tariff seeks to protect the domestic production by
increasing the customs duties and consumption tax on several
imported products. The top import tariff has risen from 20% to 50%.
Other areas covered by the new legislation include provisions on
anti-dumping, exemptions for certain investment projects and a
special customs regime for the Cabinda province. Specific tariffs are
also created for imports and exports for the petroleum industry.
The Customs Tariff Schedule has now however already been
amended by Rectification No. 1/14, of 30 January 2014 and republished in full with mostly minor corrections of typos and errors in
the initial version.
Under Article 17 of the rectified Decree 10/13, the new Customs
Tariff Schedule came into effect 30 days after its publication.
Strategic Framework Governing
2013/2014 Oil Block Licensing Rounds
Presidential Legislative Decree No. 8/13, of 17 October 2013, approved
the strategic framework on the licensing of fifteen onshore oil blocks
(in the Kwanza and Lower Congo Basins) to take place in 2013/2014.
This framework includes the granting of five onshore oil blocks to
Sonangol EP to initially assess their potential; if exploration activities
are successful, they will be put up for tender at the development phase,
with Sonangol EP retaining a participating interest. It also includes the
launching of a licensing round for the remaining ten blocks. The Decree
also clarifies the rules that will be applicable to the bidding procedure
and land access for the onshore blocks, and indicates the local content
goals to be achieved with the licensing round.
New Lower Congo Basin Oil Blocks
By means of Executive Decree No. 83/13, of 19 March 2013, the
Minister of Petroleum divided the Congo Basin onshore area into 10 oil
blocks (CON 1, 2, 3, 4, 5, 6, 7, 8, 9, and 10) for the purpose of granting
oil concessions in the future.
Inter-Ministerial Commission Follow Up
Presidential Order No. 28/13, of 22 March 2013 has created an InterMinisterial Commission to implement the division of the Kwanza
and Lower Congo Basin onshore areas into oil blocks. The new
Commission includes the Minister of Petroleum, the Minister of Industry,
the Minister of the Environment, and the chairman of Sonangol EP,
among others. The powers of the new Commission include: (i) to study
and propose a bidding policy that allows the Angolan private sector to
adequately participate in the tender; (ii) to review bids for petroleum
blocks; and (iii) to assess and decide on any environmental and social
conflicts that may arise in the block areas.
New Rules on Refining, Storage &
Transportation of Petroleum Products
Presidential Decree No. 132/13, of 5 September 2013, approved
new rules applicable to: (i) the refining of crude oil; (ii) the storage
of petroleum products and their transportation by pipeline; (iii)
the logistical supervision of the Petroleum Products System;
(iv) the operation of wholesale and retail markets; and (v) the
planning and licensing of the Petroleum Products System facilities.
The Petroleum Products System is made up of the storage
infrastructure which includes (a) logistics centres; (b) pipeline
transportation systems; and (c) maritime and inland terminals for
receiving petroleum products, with the exclusion of refineries.
Regulatory Institute for Petroleum Products
Presidential Decree No. 133/13, of 5 September 2013 created the
Regulatory Institute for Petroleum Products and approved its bylaws. Subject to the supervision of the Ministry of Petroleum, this
institute has a number of powers, including those to: (i) promote
and foster competition in order to improve the efficiency of the
sector’s activities; (ii) contribute to the gradual improvement of
the petroleum sector’s technical, economic, and environmental
conditions, in particular by promoting the adoption of practices for
the efficient use of petroleum products, suitable service quality
standards, and environmental protection; and (iii) to arbitrate and
resolve disputes arising from the petroleum products sector.
New Rules on Licensing of Downstream
Facilities
Presidential Decree No. 173/13, of 30 October 2013, approved the
procedures and defined the powers for the licensing and supervision
of petroleum products storage facilities, facilities for the supply of
liquid and gaseous fuels (i.e. fuel stations), and distribution networks
connected to reservoirs of liquefied petroleum gases. The latter are
subject to the regulations in force regarding the design, construction,
technical operation, and safety of Liquefied Petroleum Gas (LPG)
distribution networks.
• The State’s ‘shareholder’ powers; and
www.mirandaalliance.com
Miranda Alliance 2014 © | All rights reserved
3
L E G A L
F L A S H
L E G A L
B R AZIL
National Investment Monitoring
Committee Created
Brazil’s first solar power public tenders
a success
Decree No. 2013/298, of 9 September 2013 has created the
Committee for Monitoring the Effectiveness of Investments, which
is the authority now responsible for supervising and hearing
investment appeals.
Brazil’s first public tenders for solar power generation have been
completed by the eastern State of Pernambuco (PE) resulting in
the initial approval of six projects that will generate over 122MW
and investment worth BRL597m ($252m).
The six projects were chosen from 34 bidding companies from
across Brazil, Europe and China. The tenders were won by Sowitec
(30MW plant), Sun Premier Holding Participações (29.75MW),
Kroma Comercializadora de Energia (29.25MW) and Concierge
Cone S/A (22.82MW), while Enel Green Power has been awarded
two projects producing a combined 11MW.
The Tenders were managed by the State of Pernambuco through
a bid process overseen by the Department of Water and Energy
Resources. The Invitation to Tender was announced 20 November
2013 in accordance with (State) Law No. 14.666, of 18 May 2012,
and Regulation-Decree No. 39.460, of 5 June 2013. The Tender
guidelines were established through Ordinance No. 035/2013SRHE, dated 19 November 2013 alongside (Federal) Law No.
8.888/93, among other applicable laws.
Among the duties of the Committee include:
• Monitoring the compliance of equipment with announced investment
plans;
• Reviewing companies’ income tax returns for the purposes of tax
benefits granted under agreements with the government; and
• Hearing appeals filed by investors who have been granted benefits
under Law No. 2013/004, of 18 April 2013, intended to reach an
amicable settlement.
CAPE V ER DE
Sweeping tax reforms implemented
The Tender took place on 27 December a week later than originally
planned because of higher than expected international bidding
interest. The energy produced will be subject to Free Power
Purchase Agreements (Contratos de Comercialização de Energia
no Ambiente Livre – CCEAL) for an incentivised energy source
(solar power), with supply beginning on 10 July 2015 for a period of
twenty years.
A number of significant changes have been announced to Cape
Verde’s tax framework, encompassing the application of tax rules
as well as well as procedure and enforcement. The changes were
approved unanimously by the Cape Verde Parliament and came
into force on 1 July 2013:
For the purposes of the Invitation to Tender, power-generating
undertakings registered with the Department of Water and Energy
Resources (SRHE-PE) for the 2013 Sustainable PE Tender are
classified as either:
• Law No. 48/VIII/2013, of 20 December 2013, which approves the Tax
Procedure Code (Código do Processo Tributário); and
• Solar Panel Undertakings: using technology that converts sunlight into
electricity with a power of up to 30 MW at the corresponding Transmission
Facilities Of Interest Restricted To The Power Plant; and
• Solar Thermal Undertakings: using technology that converts heat
from direct sunlight into electricity with a power of up to 30 MW at the
corresponding Transmission Facilities Of Interest Restricted To The
Power Plant.
Through the PE Tender, the Government of Pernambuco has
conducted Brazil’s first solar power tender. The Governor of
Pernambuco announced an intention to procure 22.82 MW of solar
power – six times the 20 MW currently generated in Brazil – paving the
way for a solar power cluster similar to those used for wind power. The
Government of Pernambuco expects to disclose the date of a second
solar power tender soon.
The Brazilian Federal Government has introduced a number of
important policy decisions to develop the country’s energy sector
regulations, particularly focusing on solar power generation. Resolution
No. 482 of the National Electrical Power Agency (ANEEL) was
published on 17 April 2012, regulating the conditions for distributed
micro- and mini-generation projects (generation at the place of
consumption) to access electric power distribution systems. On the
same day, ANEEL passed Resolution No. 481, granting solar power
projects discounts of 80% on power distribution rates for a period of ten
years (this is intended for projects that begin commercial operations by
December 2017).
• Law No. 47/VIII/2013, of 20 December 2013, which approves the General
Tax Code (Código Geral Tributário);
• Law No. 49/VIII/2013, of 26 December 2013, which approves the Tax
Enforcement Code (Código das Execuções Tributárias). Combined, the new Codes are intended to introduce a more
transparent, competitive and efficient tax system and introduce
measures designed to bring a better balance between the
rights and obligations of taxpayers at all levels. The scope of
the legislation also reflecs the Government’s wider goals of
modernising the country’s tax and governance systems, and bring
new approaches to the determination, collection and enforcement
of tax rules
The Codes were developed after consultation with Cape Verde
business, financial and legal representatives and are considered
more pro-business than the incumbent regime, and also reflect
international tax policy trends including dealing with breaches of
bank secrecy.
The new enforcement proceedings include detailed post-seizure
provisions for safeguarding property to avoid loss or destruction, as
well as protecting the interests of third parties affected by execution
errors. Certain guarantees have also been strengthened including
the payment of compensatory interest as a result of administrative
delays in the payment of tax refunds.
Changes to VAT regime and deadlines
January 2014 saw changes to Cape Verde’s VAT regime (Law
No. Law 51/VIII/2013 of 27 December 2013). Among the major
amendments include:
• New rules stipulating the mandatory issue of invoices for the supply of
goods and services, even when not requested;
CA M ER OO N
New Civil Aviation Regime Comes into
Force
Cameroon has enacted Law No. 2013/010, of 24 July 2013
implementing new rules affecting the country’s Civil Aviation
Regime. The new Regime encompasses all aspects of aviation
operations and is intended to bring Cameroon more in line with
modern international aviation standards.
• An extension of the VAT rules on the location for supply of services
connected with immovable property to now also include services provided
by architects, advisors, consultants and lawyers;
• An extension of the reverse charge rule to construction services, while
invoices issued for construction services, for which the customer is the
taxable person for VAT purposes, should now contain the wording “IVA autoliquidação”;
• Delivery notes and rectifying documents should now contain a reference
to the invoice being corrected and what information has been amended;
and
• Regulate civil aviation activities;
• Ensure the rational and efficient use of airspace and aviation
resources.
Among the key areas of activity and operation encompassed
include:
• Applicable insurance laws;
• The creation of a civil aviation authority;
• The creation of a register for aircraft and the use of government
aircraft; and
• The introduction of air safety laws.
D E M O C R AT I C
R EPUB LIC O F
T H E CO N G O
New Rules Setting out Restrictions on
Mining Sector Operators
The Democratic Republic of Congo (DRC) through Ministerial Order
No. 0144/CAB.MIN/MINES/01/2013 of 17 April 2013 has set out
www.mirandaalliance.com
new rules affecting companies operating in the mining sector.
Under the new Rules, the subcontracting of mining activities is now
restricted to those companies:
• Whose capital is mainly held by Congolese natural or corporate persons;
• Which are predominantly run by Congolese natural persons; and
• Whose staff is essentially comprised of Congolese citizens – qualified
foreign companies may, however, be used in a number of cases.
The aim of the new Rules is to localise more of the country’s mining
activities and to encourage greater investment by international
operators through the creation of DRC subsidiaries.
Such moves are in line with a wider trend across much of sub-Saharan
Africa for governments to seek greater authority over mining and natural
resources operators, in part to increase their tax and other revenues
through the erosion of the ability of multinationals to structure much of
their operation out of the country.
Such developments in DRC follow amendments also to the relevant
VAT regime. Ordinance Law No. 13/007, of 23 February 2013 modified
the rules on VAT exemptions for the mining sector. Under the new
Statute VAT no longer applies to the importation and purchase of
equipment, materials, reagents, and other chemical products to be
exclusively used in the prospecting, exploration, research, construction,
and implementation of a mining and hydrocarbons project, before any
extraction is carried out.
Ratification of NY Convention on
Foreign Arbitration Awards
DRC has acceded to the 1958 New York Convention on the
Recognition and Enforcement of Foreign Arbitral Awards, albeit with
certain restrictions, as a result of the ratification of Law No. 13/023, of
26 June 2013.
Among the most notable restrictions is the fact that it does not apply
to disputes relating to real estate. This reservation is likely to entail the
exclusion of Congolese mines and mining titles from the scope of the
Convention. The country’s joining of the 1958 NY Convention is however a further
step towards creating a more friendly legal environment for foreign
investment.
New Tax Levy on Joint-Stock
Companies
The incorporation, share capital increase, and extension of the
duration of joint-stock companies and credit or microfinance
institutions is now subject to a levy set at 1% of their share capital.
The levy is to be paid to the Ministry of Justice.
This change has come about as a result of the passing of Joint
Ministerial order Nos. 003/CAB/MIN/J&DH/2013 and 808/CAB/MIN/
FINANCES/2013, which amend the Joint Ministerial Order dated 24
May 2012 establishing the rates of taxes, duties, and royalties to be
collected by the Ministry of Justice and Human Rights.
DRC Ratifies new Economic Partnership
Agreements
Through Law No. 13/004 of 11 January 2013 the DRC has ratified
the revised Partnership Agreement between the African, Caribbean
and Pacific Group of States (ACP) and the European Union (EU)
and its member States.
The Agreement was originally signed in Ouagadougou on 22 June
2010, which amended the 2000 Cotonou Agreement between ACP
States and the EU for the second time. The revised provisions of
the Agreement are aimed at encouraging the formation of new
economic partnerships in accordance with WTO regulations.
The EU also undertakes to adopt measures in order to mitigate
potential negative effects of an increased liberalisation of
multilateral trade. Simply put, the EU will endeavour to preserve the
preferential access granted to ACP States to the European market
for as long as possible.
• New deadlines for the submission of VAT returns have also been
introduced as have new rules relating to the application of VAT
exemptions to projects under international cooperation.
The purpose of the civil aviation regime is fundamentally threefold, to:
• Promote free competition and private-sector involvement; and
F L A S H
E Q U ATO R I A L
GUINEA
New Petroleum Regulations extend
reach of Hydrocarbons Law
Equatorial Guinea has enacted new Petroleum Regulations intended
to extend and bring up to date the country’s 2006 Hydrocarbons Law.
Through Ministerial Order No. 4/2013, dated 20 June 2013 the
Ministry of Mines, Industry and Energy has issued the Regulations
(PR) and is responsible for their enforcement. The PR only however
came into effect in September 2013 following their publication in the
Boletín Official do Estado.
Miranda Alliance 2014 © | All rights reserved
4
L E G A L
F L A S H
The 60-page statute deals with a broad range of E&P issues,
including the award of production sharing contracts (PSC) and
similar agreements, the export of hydrocarbons and abandonment
and effectively provide the detail behind the regulatory principles
introduced by the 2006 Hydrocarbons Law.
The PR further clarify the regulation affecting midstream and
downstream Oil and Gas activities as well as a number of issues
not previously covered by the 2006. The PR define key elements of
activity, including Refining (defined as refining, distillation, purification
or transformation of Hydrocarbons for the purpose of adding value
and the commercialisation of the products obtained), Marketing (all
activities (other than Refining) relating to hydrocarbons for the purpose
of adding value and the commercialisation of the products obtained,
including import, export, blending, packaging, repackaging, storage,
transportation, distribution, wholesaling and retailing of hydrocarbon
products), Road Transportation and Maritime Terminals used for the
import, export or carriage of hydrocarbons by sea.
In addition to operational aspects, the PR also contain provisions on
tax, customs, labour, land access, competition and local content issues.
Significant is the application of the PR to all new contracts and
pursuant to the relevant transitory provisions, all contractors, licensees
and associates are subject to them. For the purposes of the PR,
“Contractor” means a person with whom the State has entered into a
PSC or another E&P contract (Contract); a “Licensee” means a person
holding a licence from the MMIE to conduct Refining or Marketing
activities; and Associates include companies providing services to
Contractors.
Nonetheless, the PR has no impact on the validity of pre-approved
Contracts or the validity of measures adopted in accordance with their
terms. They will also not affect exploration, production, refining and
marketing operations approved prior to their effective date.
GA B O N
National Maritime Operator extends
Operational Remit
Gabon’s Interior and International Navigation National Company (IINNC
– Compagnie Nationale de Navigation Intérieure et Internationale) is
now the exclusive national maritime vessel operator.
The remit of the IINNC was extended through Ordinance No. 03/
PR/2013, dated 21 February 2013, which also determines that maritime
transport, including sea, river and lagoon transport will now be under
the State’s competence.
Such transportation activities will be exclusively entrusted to the IINNC
as Gabon’s national vessel operator. The IINNC has the exclusive right
to transport liquid, solid and gas cargoes by sea, at least 40% of which
must be carried out by Gabonese flagged vessels. The IINNC may
also grant its rights over inland water transport to any duly authorised
person, upon payment of a royalty.
Further, Law No. 005/2013 of 14 August 2013 has set out a new regime
governing the security of vessels flying the Gabonese flag and of
foreign vessels entering a Gabonese port or sailing in waters under the
sovereignty or jurisdiction of the Gabonese State. The Law sets out new
rules regarding security, quality control, training of personnel, safety,
labour, hygiene, and the prevention of pollution onboard vessels.
Sustainable Development Goals
Enacted
Ordinance No. 020/PR/2013 of 28 February 2013 has adopted
provisions relating to sustainable development in Gabon. The
Ordinance is inspired by the principles adopted during the 1992
Earth Summit and sets forth specific goals for public authorities,
economic operators and civil society.
New E&P Sharing Procedures
Through Decree No. 0884/PR/MPERH of 4 November 2013, Gabon
has established a new step-by-step administrative procedure to be
adhered to following the signature of any contracts and agreements
relating to the oil sector as well as the adoption of any administrative
acts related thereto (decrees approving Exploration and Production
Sharing Contracts (EPSC), Orders, Decisions and Circulars).
New Tobacco Controls Enacted
Law No. 006/2013 of 21 August 2013 which sets forth measures on
tobacco control, has been enacted following the ratification of the World
Health Organization Framework Convention on Tobacco Control.
The new Law aims to implement measures intended to protect present
and future generations from the health effects of tobacco consumption
and exposure to second-hand smoke. It also aims to limit access to
tobacco of the local population and bring greater awareness of the
health dangers associated with tobacco use and smoke exposure.
L E G A L
G UINEA - B IS S AU
New Public Contracts Code and
Procurement Authority Established
Guinea-Bissau’s legislators have approved the enactment of a
new Public Contracts Code and, for the first time, the creation of
a Public Procurement Authority (ARCP – Instituição da Autoridade de
Regulação dos Concursos Públicos).
Decree Law No. 2/2012, of 20 August 2012 has created new public
contract rules after essentially transposing the existing West African
Economic and Monetary Union (UEMOA) rules on the award and
performance of public contracts into national law.
The new Code applies to contracts that are:
• Entered into by public bodies;
• Entered into by private sector entities acting on behalf of public bodies; or
• Financed by public bodies.
The Code also applies to contracts for which public bodies are
guarantors and lays down the general principles that public
procurement procedures must follow and sets mandatory formalities for
public contracts.
Parties performing public contracts must now observe a set of
rules established under the Code governing their rights, obligations
and liabilities, penalties and amendments under the contracts and
termination thereof.
The implementation of the Code is supported by the creation (DecreeLaw No. 1/2012, of 13 August 2012) also of the country’s first Public
Procurement Authority, the ARCP.
The Authority is headed by the Prime Minister and tasked with
supervising the award and performance of public contracts. Its powers
include issuing opinions, proposals and recommendations concerning
policies and regulations, carrying out inquiries, ordering audits, hearing
irregularity claims in public procurement procedures, and imposing
penalties whenever offences are committed.
The formalisation of new public contract rules is welcomed as is
the creation of a new entity charged with their implementation and
oversight. The coming months will however determine to what extent
the Code is observed and the enforcement vigour of the ARCP.
M ACAU
Tax Incentives in the 2014 Budget
As in previous years, the 2014 Budget of the Macau Special
Administrative Region (OR/2014) contains various tax incentives
and exemptions, including this year industry tax and stamp duty
exemptions – industrial tax, for example, will not be levied in 2014 –
and deductions for income tax and urban land and property tax.
Stamp duty
Stamp duty will not be due on premiums, premium surcharges or
any sums, which are the insurers’ revenue, in respect of insurance
policies subscribed or renewed in 2014 and which are paid together
with policy or via a separate document. Were it not for the exemption,
Stamp Duty would be levied at the rate of 2 percent on personal
accident policies (including travel insurance) and on industrial
accident policies, at 2 percent on performance bonds, at 3 percent on
maritime and fluvial policies and at 5 percent on all other insurance
policies.
M OZ A M B I Q U E
First Mozambican
Competition Law Approved
The Mozambican Parliament last year approved the country’s first
competition regime (Law No. 10/2013, of 11 April 2013) with the
aim of eliminating restrictive competition practices and the creation
of market conduct rules. To further this, a Competition Regulatory
Authority was also created with supervision, regulatory, and
sanctioning powers.
The Law is the first time that Mozambique’s competition rules
have been collated and systematised in a single statute. In 2007
a Competition Policy was approved but this only established
objectives and general and abstract principles. The new Statute
thus plays a dual role of promoting economic development, through
the promotion and defence of free and effective competition, and
the prohibition of anti-competitive practices.
The Statute applies to all economic operators (public or private) in
the national territory or economic activities producing effects in the
national territory. Since the Statute came into force in July 2013,
further ancillary legislation has now been approved by the Council
of Ministers clarifying aspects of its legal scope.
The new rules do not, for example, apply to:
• Collective agreements already or to be established with workers
organisations, under the Labour Statute in force;
• Practices with non-commercial objectives;
• Agreements arising from international obligations and which do not harm
the national economy;
• Economic sectors requiring special protection, for the benefit of national
or consumer interests.
Competition Regulatory Authority
The new Competition Regulatory Authority will benefit from full
financial and administrative autonomy and hold supervisory,
regulatory and sanctioning powers. In determining whether to
investigate an activity, the Authority will take into account the
following aspects:
So far as banking transactions in 2014 are concerned, Stamp Duty
will not be due on interest and commissions in respect of active
credit transactions, banking services commissions and other banking
revenue arising from cash deposit business, payment intermediation
business and administration of capital business – which would
otherwise be subject to Stamp Duty at 1 percent of the overall annual
gain, excluding gains in foreign exchange transactions.
• The competition policy priorities established for the year;
Permanent Macau Residents who are individuals of age and that
do not already own real property in Macau shall be exempted
from Stamp Duty on residential property up to MOP3million (circa
€269,000) – this represents a saving of MOP42,000 (circa €3,700).
The competition focus of the Statute and Regulator is thus
threefold:
Professional Tax
• As regards horizontal agreements, the Statute prohibits (among other
things) agreements by parties to adopt uniform or concerted commercial practices, impose (direct or indirectly) purchase or sale prices,
and provoke price variations without reasonable cause;
A 30 percent tax deduction from taxable income for Professional
Tax purposes is applicable for 2014. Professional Tax will be levied
only on the excess of MOP144,000 (€12,900).
Urban Land and Property Tax
The MOP3,500 (€313,600) fixed sum deduction from taxable
income for Urban Land and Property Tax purposes has been
continued in 2014, it is applied automatically by the tax authorities
and will have already been deducted in tax payment notices.
www.mirandaalliance.com
F L A S H
• The elements of fact and of law brought by the parties or already in its
power;
• The gravity of the alleged infringement;
• The likelihood of being able to prove the existence of the infringement;
• The extent of the investigation required.
• Agreements between undertakings that restrict competition – with a
distinction made between horizontal and vertical agreements;
• The Statute further prohibits vertical agreements applying discriminatory pricing or other conditions, unreasonable refusal to sell or
purchase goods and services, or imposing any other unreasonable
trading conditions on third parties;
• Abuse of a dominant position – where a company acts in a market in
which it does not face significant competition or holds preponderance
in relation to its competitors;
• Abuse of economic dependence – relating to either a supplier or a
client that does not have an equivalent alternative in the market in
which it operates.
Miranda Alliance 2014 © | All rights reserved
5
L E G A L
F L A S H
Infringements, sanctions & exemptions
The sanctioning powers of the Competition Regulatory Authority
extend to undertakings or individuals and include the possibility of
criminal and administrative measures, and a prohibition on bidding
from public contracts. Fines of up to 5% of the turnover of each
undertaking, or 1% of the aggregate turnover of the undertakings
concerned, may also be imposed.
In case of non-compliance or a failure to provide accurate
information in prior notification proceedings, the Authority is
competent to apply a penalty for each day of delay up to 5% of the
daily average turnover of the undertaking.
The regime also however establishes a new prior notification and
clearance procedure applicable to mergers, acquisitions and other
qualifying transactions. A concentration between undertakings
subject to prior notification cannot be implemented before express
or tacit clearance from the Competition Regulatory Authority, which
has 60 days from notification to make a decision.
TA X
Amendments to the corporate and
personal income tax codes
Laws No. 19/2013 and 20/2013, both dated 23 September 2013,
were published in the Official Gazette and introduce several
amendments to the corporate (CIRPC) and personal (CIRPS)
income tax codes.
The amendments came into force on 1 January 2014 and apply
to income earned from 2014 onwards. The new rules on taxation
of capital gains arising from transfers of equity interests involving
Mozambican-based assets are worth of note – particularly notable
with regard to CIRPC, is the introduction of the concept of ‘special
relations’ for transfer pricing purposes.
B U S I N E S S R E E S T R U CT U R I N G L E G A L
R EPUB LIC O F
T H E CO N G O
Angola and Congo Mining and
Geology Cooperation Agreement
Congo has ratified a mining and geology cooperation agreement
signed with Angola through Law No. 17-2013 of 13 August 2013.
The Cooperation Agreement is intended to strengthen bilateral
cooperation in the sectors by the two neighbouring countries. The
intention now is to begin the exchange of geological information
and data, work towards the harmonisation of their respective tax
frameworks in areas such as diamond mining, cooperate in the fight
against smuggling, and establish specific training, technical and
economic assistance programs. The Agreement was ratified by the Congo through Decree No.
2013-430 dated 13 August 2013, and runs for an initial three year
period with possibility of renewal.
Nuclear-Free Zone Treaty
Law No. 6-2013 of 25 June 2013 saw Congo ratify the African
Nuclear Weapon-Free Zone Treaty. Under which signatory States
commit to renouncing all nuclear explosive devices, as well as
to all activities related to their production, storage, acquisition or
possession. Nuclear science and technology may nonetheless still
be used for peaceful purposes.
Finance Act amends Tax Codes
Law No 41-2012 of 29 December 2012, adopting the 2013 Finance
Act, has amended several provisions of the Congo’s General Tax
Code (GTC), as well as created a more business-friendly legal
framework for companies to operate under. Among the main
changes introduced include:
New insolvency and restructuring
regime enacted
• 1-year limit for the grant of the Temporary Authorisation to Operate
(ATE);
The Council of Ministers approved, through Decree Law No. 1/2013
of 4 July 2013, a new Legal Regime on Insolvency and Business
Restructuring.
• A friendlier Corporate Income tax Rate of 33% (reduced from 34% in
2012);
The new Law is intended to endow the Country with a set of more
modern and efficient rules aimed at allowing the overcoming, either
judicially or out-of-court, of non-performance situations by insolvent
companies, entrepreneurs and other entities.
The new regime came into force on 2 October 2013 and revoked, inter
alia, the previously applicable provisions of the Civil Procedure Code.
CO M M E R C I A L
Commercial licensing regulations
amended
On 2 November 2013, the new Commercial Licensing Regulations,
approved by Decree No. 34/2013, of 2 August 2013, came into
force. The licensing procedure, which applies both to Mozambican
companies and to branches of foreign companies, no longer
comprises a mandatory inspection of facilities, except in exceptional
circumstances.
It is also worth highlighting that the review and decision on each
licensing application is subject to an 8 or 10 business day deadline,
and that tacit approval is provided when the licensing authority does
not observe the applicable deadline.
B AN K IN G AND FIN AN CIN G
New anti-money laundering law
enacted
The Mozambican Parliament, through Law No. 14/2013, of 12 August
2013, has enacted a new Law on the Combatting and Prevention of
Money Laundering and Financing of Terrorism.
The Law significantly revises the previous regime, notably with
regard to know-your-customer (KYC) rules and compliance checks.
Henceforth, alongside financing institutions, non-financial entities,
such as lawyers, notaries, accountants and independent auditors,
when involved in commercial transactions, also now need to comply
with anti-laundry rules.
• Mandatory renegotiation of Conventions of establishment;
• A new tax scheme for holding companies;
• A new tax consolidation scheme for corporate groups;
• New methods of taxing salaries;
• Stricter taxpayers’ obligations;
• Implementation of a Withholding Tax for payments made by
entrepreneurs operating under public and private tenders in the
construction and public works sector to sub-contractors working in
said sector;
• Introduction of a special tax on alcoholic drinks and tobacco;
• Abolishment of Managers’ Cards (carte de commerçant);
• Greater reliance on banking services in the Congolese economy; and
• A move towards automated management systems.
S Ã O TO M É
AND PR Í N CIP E
Unitel Wins Second Telecoms
Infrastructure Licence
The enactment of Decree no 6/2013, of 2 May 2013 has formally
approved the allocation of a Telecoms Infrastructure Licence to
Angola’s Unitel.
Unitel is now the second fixed-line and mobile telephone operator
in São Tomé and Princípe and reportedly the only company to meet
the technical and financial requirements set out in the public tender first launched by the Telecommunications Regulatory Authority
(AGER – Autoridade Geral de Regulação) in November 2012.
It has been granted a licence for the construction and operation of
a national telecommunications infrastructure, as well as supplier of
telecommunications services. The licence is granted for a period of
twenty years from its entry into force.
F L A S H
The regulations are intended to ensure effective access to justice
and the court system and seek to introduce more stringent
guidelines on granting legal aid and make information and legal
advice more readily available.
In order to make sure that legal aid is granted based on objective
criteria, this statute requires anyone asking for legal aid in the form
of legal advice or representation to provide evidence of financial
hardship. The Law also creates Information and Legal Advice
Offices to be located in courts and other judiciary services as an
additional way of giving citizens information about the law and the
legal system.
TI M O R - LES T E
Regulation of Fuel Filling Stations
Approved
Timor-Leste has approved detailed regulations for the installation
and operation of fuel filling stations in response to the increasingly
competitive nature of the domestic market, a rise in international
investment and demand to better regulate the quality of the fuel
being delivered as well as the safety of filling equipment and the
stations themselves.
Through the enactment of Decree Law No. 1/2012, of 1 February
2012, Timor-Leste approved the legal framework applicable to
downstream activities in the country, the details of which are to
be further set out through National Petroleum Authority (ANP)
Regulations to be issued overtime. ANP Regulation No. 1/2013, of
18 September 2013, sets forth the principles and conditions to be
met in the installation and operation of fuel filling stations.
The new statute continues the trend for greater regulation of
downstream activities in the country, including here the introduction
of a licensing system for filling stations. New rules now apply to fuel
quality and the locations of stations, including establishing minimum
distance rules to other buildings, safety and signalling requirements,
and other design, construction and operation rules. A transition
period has been established to allow existing operators to adapt to
the new rules and requirements.
New Money Laundering Rules
Introduced
By means of Law No. 4/2013, of 14 August 2013, the TimorLeste Parliament has approved a the first amendment to Law No.
17/2011, of 28 December 2011, which first approved the rules
governing the prevention and reporting of money laundering and
terrorism financing. The new Law also sets out a third amendment
to Decree Law No. 19/2009, of 8 April 2009, which approved the
Criminal Code.
The aim of these amendments is to provide the national legal
system with the requisite means to efficiently prevent and report
money laundering and related criminality, in line with applicable
international conventions.
In addition, the measures are intended to introduce stronger know
your client (KYC) regulation particularly given the lack of foreign
exchange controls, and to bring enhanced due diligence obligations
particularly for financial institutions operating in Timor-Leste.
The Amendments continue the government’s strong anti-corruption
push, with the country already ranked among the most transparent
in Asia, including by the Extractive industries Transparency Initiative
(EITI).
United Nations Convention on The Law
of The Sea Ratified
The Timor-Leste Parliament has now ratified the United Nations
Convention on the Law of the Sea, of 10 December 1982, and the
Agreement on the Application of Part XI thereof, dated 28 July 1994
by way of Resolution No. 17/2012, of 27 December 2012.
This ratification was primarily aimed at complying with Article 12 of
Law No. 7/2002, of 20 September 2002, on the Maritime Boundaries
of the Democratic Republic of Timor-Leste, and restates the rights
set forth in the Law for the purpose of delimiting the country’s
territorial sea, continental shelf and exclusive economic zone.
Accession to the UN Convention is significant given the offshore
nature of much of the country’s oil and gas industry and represents
a re-assertion of its rights over the seabed and continental
shelf. Ratification therefore sends out an important political
statement particularly as regards Timor-Leste’s relationship with
neighbouring Australia and Indonesia, but also clarifies the rules and
responsibilities now applicable as regards environmental, maritime
navigation and maritime traffic management issues.
Unitel was only one of seven companies competing in the tender
and will now compete with the former incumbent Companhia
Santomense de Telecomunicações (CST), part-owned by Portugal
Telecom group.
New Rules Extending Access to Justice
The Santomean Parliament has now enacted Law No. 9/2012, of
28 December 2012, which sets out new regulations on access to
justice and legal aid.
www.mirandaalliance.com
Miranda Alliance 2014 © | All rights reserved
6
I N T E R V I E W
SOPHIE
DA CUNHA
ROLAND
ABENG
A S S O C I AT E
M A N A G I N G
PA R T N E R
FR AN CE
Paris-based Cabinet Sophie da Cunha has joined the Miranda Alliance extending
the network to France and dramatically expanding both its European reach and
Francophone practice. The addition of the firm builds on the Alliance’s expansion to
Cameron and DRC in 2013, Republic of the Congo in 2012 and Gabon in 2011.
Sophie da Cunha explains the rationale behind the decision to join the Miranda
Alliance.
What were the drivers behind the decision to join the Miranda
Alliance?
I have spent well over a decade advising French and international companies expand their operations to
Africa and have first hand experience both of the opportunities and challenges that confront businesses
as they enter the continent.
Having worked alongside Miranda in Portugal and the Alliance as it has expanded across sub-Saharan
Africa, particularly into Francophone Africa, I have no doubts about the capabilities or sophistication of
the firms involved. I have direct experience of what they do, how they work in a truly integrated basis and
the results produced. I am very pleased to be with them.
What do you see as the main drivers behind the expansion of French
businesses to Africa?
Clearly each business has its own set of circumstances but I think the wider trend behind the
growth in the number of French and international businesses expanding to Africa comes down to
three key reasons.
First, the French economy is not what it was ten or even five years ago. Domestic demand is down
and companies increasingly have to look abroad for new opportunities, which leads to the second
reason. Africa is a continent where many French businesses, banks and executives often already
have historical or cultural ties that they want to develop further. French-speaking North Africa and
the Maghreb might once have been the markets of choice for many but recent years have seen a
degree of diversification, more companies are looking to the sub-Saharan Francophone markets.
The third reason is simply because Africa is rapidly developing and can no longer be ignored
by those businesses making medium to long-term strategic decisions. Countries are obviously
developing at their own pace but as a whole the continent’s economic trajectory is upwards.
What types of work are you already doing in Africa?
Our core background lies in projects, infrastructure, energy and disputes. The nature of the work
we do reflects the increasing sophistication of our clients and the markets in which they operate.
Many clients are natural resources-focused and for whom Africa offers unrivalled opportunities
in terms of access to raw materials, be that mining, minerals or forestry, which inevitably means
dealing with the local and national authorities and structuring concession, licensing and investment
agreements. But we also have a growing number of projects and infrastructure-focused clients,
on both the construction and finance side, which are looking to capitalise on the rising demand for
access to resources and who are developing new transport and logistics networks.
Do you practise French law?
Yes, any lawyer that wants to work with us must be French-qualified. You can’t develop a credible
Paris-based firm and not be locally qualified or registered at the French bar.
But our core focus is not on domestic French legal work. Our goal is not to compete with the major
Paris firms. Our clients come to us because we are able to translate and adapt the legal and
business concepts they already know into those they don’t and vice versa.
In any event, the sub-Saharan markets in which we mostly operate are French-law influenced,
where French is an official language and the prevailing administrative and legal institutions are the
direct result of France’s colonial history. A French law understanding is essential also to properly
understand the nuances of OHADA.
How do you see membership of Miranda Alliance benefitting your
clients?
As I mentioned, a very considerable part of what we do is aimed at assisting our clients outside of
France.
I think that what we, and the Miranda Alliance as a whole, do very well is extend the reach of
our own clients. They often want us to assist them on very specific issues or in specific markets
because they either do not have that capability in-house or the experience to do it themself.
But alongside helping clients to establish a new operation or undertake an investment in a
particular market we are also asked to ensure that on-going matters are also covered. Clients
often want us to co-ordinate their local legal needs and this is without a doubt a key area of
expertise of the Miranda Alliance.
www.mirandaalliance.com
I N T E R V I E W
CA M ER OO N
The most recent addition to the Miranda Alliance, having joined in June 2013,
is Cameroon’s Abeng Law Firm. Further extending our reach across subSaharan Africa and adding to the growing Francophone practice.
Roland Abeng is the Managing Partner of Abeng Law Firm located in
Cameroon’s capital, Douala. Here he explains his reasoning behind joining the
Miranda Alliance and the benefits it brings to his own clients and the Alliance
as a whole.
What were the drivers behind the decision to join the Miranda
Alliance?
Cameroon is a market that is seeing a steady rise in international investor interest at the same
time as our own domestic clients are beginning to look further afield to expand their operations
or to access new types of know how and technologies.
We have no doubt of our ability to offer top quality local legal services in Cameroon but a
recurring challenge was how we adapt to the growing desire of many international clients for us
to adapt to their own ways of working. We have had a relationship with Miranda for a number
of years and saw the Miranda Alliance as a means to bridge this gap – to overlay international
levels of delivery on top of our local capabilities.
Membership also means we are able to leverage or transpose our OHADA law expertise to
clients’ needs beyond our own borders.
What are the main goals of membership of Miranda Alliance?
We have to be able to respond to the changing needs of our increasingly sophisticated client
base that, at the international level, now more than ever manage their legal needs on a regional
basis. Many want to use the same network of law firms, if not the same law firm, across multiple
markets.
Membership of the Miranda Alliance enables us to increase both our international exposure and
reach. But it also allows us to capitalise on Miranda’s own 25 years’ experience co-ordinating
multi-jurisdictional client needs.
We hope therefore not only to play a stronger role in being able to serve the Alliance’s clients in
Cameroon but to learn from the other members.
What does Abeng Law Firm bring to the Miranda Alliance?
We have a very deep understanding of clients needs in Cameroon, which is a market of
increasing interest to international investors. But in addition, our ability to transpose and advise
on OHADA law issues means that we can extend our reach beyond client’s immediate domestic
needs to the other Francophone countries in which Miranda Alliance does not already have
dedicated local capability.
We are also however seeing our own Cameroon-based clients play a more active role regionally,
meaning they have growing needs that we cannot ourselves service – the ability to pass them
across to a trusted firm in another market, or which operates under a different legal system, in
Africa, Europe or for example, in Brazil is obviously of tremendous value to them.
How have your clients so far received the announcement of
membership?
To date, the response has been very positive. The Miranda Alliance has a strong brand across
Africa and so regionally clients feel very comfortable with the news. We have already had
instances where clients have needed outside advice and the Alliance has provided this.
But there are also other very practical advantages; international clients very much appreciate the
ability to have their needs co-ordinated across a number of markets. We are already adapting the
way we work to the norms of the Alliance, which includes placing a greater focus on operating in
English and to utilise more modern practice management tools. This is expertise than is not typical
in Cameroon and which further helps to differentiate us in the market.
How big is Abeng Law Firm and what is the core focus?
We are one of Cameroon’s longest-established full-service commercial law firms. There are
twelve lawyers in the firm, all of which are located in Douala Cameroon’s main commercial
centre. Much of our activity is focused on the core international investment markets, including
forestry, mining and the oil and gas sectors, but we are also recognised for our expertise in trade
and investment, commercial (including OHADA) intellectual property and debt recovery issues.
We are already working regularly with Miranda Alliance lawyers in neighbouring Gabon and
Congo, and looking forward to contributing to the wider OHADA and Francophone practices coordinated out of Lisbon.
Miranda Alliance 2014 © | All rights reserved
7
P E O P L E
O U T O f
O F F I C E
P E O P L E
T H E
Rodrigo Rendeiro Costeira
Portugal
Cool Runnings
Running is equal parts physical and mental endurance,
says Rodrigo Rendeiro Costeira, a Senior Associate at
Miranda in Lisbon. But his dedication to the sport has in
recent years perhaps gone beyond the commitment of
most.
Having already completed a number of half marathons,
he next set his sights on running two of the best-known
courses in the world, Boston and New York.
“Among runners, Boston and New York are up there with
the very best races. Not only because of the atmosphere,
which is tremendous, but also because of the courses
themselves. You get to run through parts of the city in a way
that is normally off limits to people in their daily lives.”
To get to the starting line required however not only
lengthy plane journeys but also a considerable amount of
training upfront. It takes four to six months’ to build up to a
marathon, says Rodrigo. Putting the time aside to train is no
easy task even in the best of circumstances but especially
so when you’ve a young family and you’re part of a growing
international practice – hardly a 9-to-5 job in itself.
“You need to be running between 20 to 40 miles a week
so you have to approach things methodically. I look at
each marathon like a work project. There is a deadline
that needs to be met, so you have to adopt a clear
method, set yourself milestones and have confidence
in your ability to get it done. It’s part physical and part
mental. You need to put in the hours but fundamentally
you have to believe you can do it.”
Ultimately however, Rodrigo’s experiences at both Boston
and New York differed to most that run them. Rodrigo was
just a mile away from the Boston finish in April 2013 when
the first of two bombs exploded.
“In life, as in practice, things don’t always
turn out as you expect them to. Events
happen and you have to deal with it.
You assess the situation, determine
the available options and move on as
best you can.”
What struck him however, he says, was the calm
that took over both the runners and those watching
the race. “Perhaps it was because we were so close to the
finish and were already pretty exhausted but there was no
panic. Water was brought from nearby shops and by local
residents, doctors stepped forward to help those in need,
and mobile phones were passed around for contacting
loved ones.”
The New York marathon also didn’t go as expected. Rodrigo
arrived in the city in October 2012 after a journey that took
him from Lisbon to London, Chicago and then to New York
(he had initially planned to have a direct flight from Lisbon)
just ahead of Hurricane Sandy, which brought devastation
to the city and much of the surrounding area. The marathon
was cancelled just a few hours before it was due to be run.
“To be honest, I haven’t had a lot of luck with races in the
US. But it’s a place I love and having gone to New York to
run the marathon that’s what I did. The official race may
have been cancelled but the following day I ran the course
anyway. I didn’t get a medal but I had put in the work and I
wanted to say I’d done it.”
Crossing a marathon finish line is one of the most intense
experiences you can go through, he says. “There’s an
indescribable sense of achievement and reward. The
few hours you run are well worth the months of pain and
sacrifice you put in before the day itself. And once I commit
to something I always want to see it through, it’s in my
nature. Your legs may be screaming but your head has to
keep saying, ‘nearly there’.”
www.mirandaalliance.com
Miranda Alliance 2014 © | All rights reserved
8
P E O P L E
P E O P L E
AT T H E
O F F I C E
N E W
M E M B E R S
Paulo Pimenta
We have seen a number of new
professionals join the Miranda
Alliance in 2014:
Mozambique
An ordinary day in
Maputo
7.00 Arrive at the office. Check overnight emails, review any
pending issues and write today’s ‘to do’ list before beginning
to assign tasks to the team.
8.30 It’s a hot day and the high humidity leads to a power cut.
Thankfully we have our own power generator, so… on with
work as usual.
Kátia
Mariano
Neusa
Costa
Pedro
Marques Costa
Trainee
Trainee
Trainee
Luanda
Luanda
Luanda
Sofia
Martins
Margarida
Taborda
Mariana Aires
de Abreu
Lisbon
Lisbon
Lisbon
Mariana
Gouveia de
Oliveira
Pedro
Galvão
Fernando Antas
da Cunha
Lisbon
Lisbon
Lisbon
9.30 Conference call with a potential Australian investor in
the mining sector. We brief them on the evolving Mozambican
legal and tax framework as well as on the business
environment generally. The labour regime applicable to the
hiring of expatriates is a potential worry for them so we agree
to a face-to-face meeting to discuss the issue more deeply
when they visit Mozambique.
10.30 Quarterly meeting of the Tax Committee of the
Mozambique Chamber of Trade (CTA) ahead of its meeting
with the Tax Authority where the CTA will comment on
proposed amendments to the tax codes.
As a member of Tax Committee we see draft Bills ahead
of publication and are invited to present our opinions to
legislators. Our comments may not always be taken onboard
but the CTA nonetheless provides an important link to the
Government for the business community.
Senior Associate
Associate
Associate
12.00 Back to office to catch up on calls and emails.
12.45 Lunch with Mike, an overseas client, regarding projects
in the agricultural sector and to talk about potential new
opportunities. He has some concerns over a delay in gaining
the necessary authorisations but we assure him that sufficient
contingencies have been built into the project plan – 15 years’
experience in the country counts!
We talk about the continuing rise of international investor
interest in Mozambique and not only in the coal, mining and
gas sectors. We agree to organise an investment conference
for a delegation of investors he has invited to the country with
the focus to be on the infrastructure, transport, shipping and
aviation sectors.
14.30 Lunchtime is a key meeting time right across
Mozambique but its back to the office. After thanking Mike for
lunch, it’s on with the legal work – reviewing a memo on an
engineering client’s plans to begin operations in Pemba next
quarter. I confirm with my colleagues in our Pemba office that
all the necessary real estate and planning permits are in order
and report to the client that work is ready to begin on the
construction of their facilities and employee accommodation.
17.30 Review several new client proposals ahead of a
conference call with a US-based multinational. They want to
know more about the Mozambican legal, tax and exchange
control framework applicable to foreign investment. In Maputo
we’re 7 hours ahead of New York, two hours ahead of London
and 7 hours behind Tokyo, so many of our international
clients are often starting or ending their day while we’re still in
the middle of ours!
19.00 Draft a message to the client summarising the next
steps following-on from our call before reviewing some
outstanding emails. Check what’s been achieved from the
‘to do’ list before beginning to plan tomorrow. Sadly not
everything has been ticked off but it’s good to be busy!
20.00 Leave the office and head home for dinner with the
family. There’s a thunderstorm so by the time I park my Vespa
on the driveway I’m soaked, which the kids find hilarious. And
then the real work begins.
www.mirandaalliance.com
Associate
Junior Associate
Of Counsel
Pedro da
Quitéria Faria
João Carlos
Teixeira
Margarida
Asseiceira
Lisbon
Lisbon
Lisbon
Senior Associate
Ana Nobre
de Sousa
Junior Associate
Lisbon
Associate
Associate
João
Peixe
Trainee
Lisbon
Miranda Alliance 2014 © | All rights reserved
9
P R O - B O N O
P R O - B O N O
Miranda and
Fátima Freitas
support
gold-winning
cyclist
Alberto da Silva, the fabled “Velho
Pepino”, is a sportsman who needs no
introduction in his home country Angola.
Hailing from Benguela on the country’s West coast he has won
numerous trophies in national athletics and cycling competitions. All
the more remarkable is that he continues to compete in his 90s.
The past year has perhaps seen Pepino achieve his greatest success,
winning two gold medals in the Huntsman World Senior Games held in
Cleveland USA. His attendance supported by Miranda Alliance firms Miranda
Correia Amendoeira and Fátima Freitas Advogados.
First held in 1987 the Games are considered the Senior Olympics with the aim
being to foster worldwide health, friendship and peace. Only open to over 55s,
they encompass 27 events over a two-week period each year.
Born in 1922 Pepino, an ex-footballer and locksmith by trade, once again
proved his excellent physical condition by winning gold in both the 40km and
20km cycling competitions – outpacing riders decades younger than him.
Having achieved fourth place in the 2009 Games the intervening
years have seen Pepino outperform even his own
expectations. A true inspiration, his determination
to succeed embodies both the ambition and
expectation of his native Angola.
www.mirandaalliance.com
Miranda Alliance 2014 © | All rights reserved
10
C O N TA C T S
CAPE VERDE
portugal
Miranda Correia Amendoeira & Associados
Av. Engenheiro Duarte Pacheco, 7
1070-100 Lisbon - Portugal
T: +351 217 814 800
F: +351 217 814 802
E: [email protected]
ANGOLA
Fátima Freitas Advogados
Lua n d a
Edifício Monumental
Rua Major Kanhangulo, 290 - 1º dto
C.P. 954 - Luanda - Angola
T: +244 222 372 030/57/92
F: +244 222 372 017
E: [email protected]
Tala to na ( Lu a n da Sul )
Condomínio Belas Business Park
Edifício Malange, Sala n.º 202 - 2.º andar
Talatona, Luanda Sul
T: +244 222 020 559
F: +244 222 020 558
M: +244 928 326 128 / 928 326 336
E: [email protected]
Cabin d a
Rua de Macau, S/N
Cabinda - Angola
T: +244 231 224 179
F: +244 231 222 344
E: [email protected]
Lobito
Ex-Edifício Veneza
Avenida Marechal Craveiro Lopes,
Lote 4 - 1º F, Compão
Lobito - Angola
T: +244 272 226 705
F: +244 272 226 706
E: [email protected]
BRAZIL
José Castro e Solla
Torre Rio Sul
Rua Lauro Müller, 116 – 17th floor
22290-160 Rio de Janeiro – RJ - Brazil
T: (55 21) 3572 3000
M: (55 21) 8883 5015
F: (55 21) 3572 3100
E: [email protected]
CAmeroon
Abeng Law Firm
Bonapriso - Rue Koloko
Immeuble 4 etages (Apt. 300)
P.O. Box 4155
Douala
T: (+237) 33 42 02 08
F: (+237) 33 43 75 79
E: [email protected]
CV LEXIS
Travessa Luís de Melo, 9 - 1st Fl
P.O. Box 958
Praia - Santiago - Cape Verde
T: +238 261 13 44
F: +238 261 13 26
E: [email protected]
SÃO TOMÉ
AND PRÍNCIPE
Port-Gen til
Galeries Corail
(À côté de la Cité Corà Wood)
T: +241 (0)1 56 89 50
F: +241 (0)1 56 89 51
E: [email protected]
STP Counsel
Av. da Independência 392, II/III
P.O. Box 638
São Tomé and Príncipe
T: +239 222 32 72
F: +239 222 32 75
E: [email protected]
GUINEA-BISSAU
GB Legal
DEMOCRATIC
REPUBLIC
OF THE CONGO
MBM-CONSEIL
Kinsha sa
8225, Avenue Kabasele Tshamala (ex-Flambeau)
Kinshasa Gombe – 1st Fl
Kinshasa, Dem. Rep. Congo
T: +243 151 680 30
E: [email protected]
Ko l wesi
Avenue Kananga, n.º 140
Commune de Dilala - Kolwezi
T.: +243 993 240 302
E: [email protected]
Lu bu mba shi
Immeuble BCDC, 4e étage
285, Croisement des Avenues
Munongo et Mwepu Commune de Lubumbashi
T: +243 998 998 027
E: [email protected]
EQUATORIAL GUINEA
Solege - Sociedad limitada
Calle Enrique Nvo s/n
Malabo - Guinea Ecuatorial
Edifício Amanda
T: +240 333 096 992
E: [email protected]
france
Sophie da Cunha
121 avenue des Champs Elysées
75008 Paris - FRANCE
Toque E1408
T: +33 1 73 02 67 63
F: +33 1 72 71 85 99
E: [email protected]
GABON
Cabinet sis aux Hauts de Gué-Gué
(face Ambassade du Liban)
lmmeuble Poupina 2 - 1st Fl
B.P. 4882 Libreville
T: +241 (0)1 44 10 81
F: +241 (0)1 44 10 82
E: [email protected]
Miranda Correia Amendoeira & Associados
Jorge Neto Valente Advogados
Av. Dr. Mário Soares, 25 (Edif. Montepio)
AP. 25 - 2.º andar
Macau
T: + 853 2838 2222 / + 853 2871 2668
F: + 853 2871 2633
Av. da Amizade, 555
Ed. Macau Landmark
Torre do ICBC, 15.º andar
Macau
T: + 853 2838 2222 / + 853 2878 3396
F: + 853 2878 5266
Timor Plaza - 3rd floor
Comoro - Díli
P.O. Box 62
T: +670 331 14 00
M:+670 7741 60 82
+670 7745 97 65
+670 7717 95 15
F: +670 331 14 01
E: [email protected]
UK (LONDON)
Miranda Law (UK) Limited
Registered Office
55 Old Broad Street
London EC2M 1RX
United Kingdom
T: +44 (0) 20 7997 6090
F: +44 (0) 20 7691 7090
E: [email protected]
P.O. Box 397
E: [email protected]
MOZAMBIQUE
Pimenta, Dionísio e Associados
Maputo
USA (HOUSTON)
Rua Changamire Dombe (D. Diniz), n.º 14
Bairro de Sommerschild
Maputo - Mozambique
T: +258 214 930 50
+258 214 955 27/8
+258 843 191 741
F: +258 214 930 42
E: [email protected]
Miranda Alliance Business Development,
LLC
Two Allen Center
1200 Smith Center, Suite 1600
Houston, TX 77002
T: +1 713 35 33 977
F: +1 713 35 38 806
E: [email protected]
Pem b a
Pemba Beach Hotel
Rua da Marginal, n.º 5470
Pemba - Mozambique
T: +258 862 276 751
E: [email protected]
Cabinet Gomes
Immeuble Clinique Les Manguiers
B.P. 542 – Pointe-Noire
T: + 242 05 550 86 95
+ 242 06 667 24 67
F: + 33 1 34 29 54 87
E: [email protected]
The move brings the firm closer to the city’s businesses,
banks and regulators and comes just a few months after
launching a new identity promoting Miranda and the Miranda
Alliance’s ability to help clients reach further.
reach
further
TIMOR-LESTE
MACAU
REPUBLIC OF
THE CONGO
Cabinet Jules Obiang
Librev ill e
Av. Dom Settimio Arturo Ferrazzeta
P.O. Box 127
Bairro de Luanda
Bissau, Guinea-Bissau
T: +245 320 68 00
F: +245 320 68 01
E: [email protected]
Spring 2014 has seen
Miranda relocate to new bespoke
offices in the centre of Lisbon.
www.mirandaalliance.com
C O N TA C T S
Miranda Alliance is an international association
of law offices covering 17 countries
After 12 years in its offices in Rua Soeiro Pereira Gomes on
the edge of the city, Miranda has relocated to the heart of
Lisbon’s central business district at Av. Engenheiro Duarte
Pacheco, 7.
Having grown to almost 150 lawyers in Portugal it was clear
the firm had outgrown its previous space. Miranda has now
taken four floors in the Amoreiras neighbourhood with room
for further growth. Taking advantage of the opportunity also to
invest in new state-of-the-art technology and communications
facilities, the move was preceded by a sale of the firm’s
existing equipment with all the funds raised donated to the
Nuestra Medalla Milagrosa Primary School in Equatorial
Graphic Design Catarina Sousa Morais
Printed by
Guinea, which the firm has supported for a number of
years.
The move comes only a few months after Miranda’s
unveiled its innovative new branding that promotes the
Miranda Alliance’s collective ability to help clients extend
their own reach in to African and the emerging markets.
A significant proportion of the firm and the Alliance’s
work is now increasingly focused towards facilitating
multinationals international expansion, utilising the local
expertise and skills of the Miranda Alliance’s lawyers in
each of the 13 markets in which it now operates.
The branding has introduced a new signature strap line,
Reach Further, which expresses the collective intention
to provide a client-focused service that nonetheless helps
clients to exceed their goals and objectives.
A key element of the Miranda strategy is based around
proximity. A move to the heart of Lisbon brings the
firm closer to many of Portugal’s largest and most
international businesses, while the Miranda Alliance’s
international spread enables them to extend their own
reach even further.
Miranda Alliance 2014 © | All rights reserved
12