Doing Business in the BRICS A Practical Legal Handbook

Author: Ravi Nath
Publisher: Globe Law and Business
ISBN: 9781905783816
Published In: January 2013
Format: Hardback , 280 pages
Jurisdiction: Brazil, China, India, International, Russia, South Africa ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents
Author

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Since the term ‘BRIC’ was coined by Jim O’Neill of Goldman Sachs - and initially dismissed by many as mere hype - it has become a ubiquitous financial term. At the time, it was predicted that by 2041 - subsequently revised to 2039, and then to 2032 - Brazil, Russia, India and China would become the future pillars of the 21st century, easily surpassing the six largest western economies.

The ongoing global crisis has forced the world to look for opportunities outside traditional economic strongholds. Meanwhile, the BRICS – now also including South Africa – have evolved as a cohesive bloc with certain common features: a robust banking system, spectacular growth rates, a young population and, for several, mineral wealth. The Chinese economy, at about $5.9 trillion, has become the second largest in the world; at about $2.52 trillion, the Brazilian economy leads the United Kingdom’s ($2.48 trillion). In demographic terms, the BRICS are also home to the world’s two most populous countries.

The BRICS markets will present tremendous growth opportunities in the coming years, and one day might comprise a bloc resembling the European Union - albeit geographically separate. They are now holding formal BRICS summits to discuss a range of issues, including closer cooperation on energy, food production, trade, investment, science, technology and infrastructure.

This new book provides an overview of the BRICS nations. Each chapter is authored by experienced lawyers, who provide insights on demography, political and legal systems (including investment regulations, competition policies, IP laws, taxation and labour laws) in a clear and comprehensive manner. The book serves as a preliminary and practical guide for lawyers, investors, corporations and entrepreneurs regarding the mode and methods of doing business in these jurisdictions.

(Featuring a Preface by Jim O'Neill, Goldman Sachs)

I. General information
1. Economic-geographic location
2. Major industries
3. Political system
4. Legal System

II. Foreign investment rules
1. General regulation
2. Restrictions for foreign investors 3. Control by state authorities and reporting
4. Currency control
5. Repatriation of dividends

III. Migration rules
1. General rules
2. Types of visas and entry requirements
3. Employment and work permits
4. Permanent residence and citizenship

IV. Companies and corporate governance
1. Forms of doing business e.g. for Russia:
1.1. Individual Entrepreneurship
1.2. Limited Liability Company
1.3. Joint Stock Company
1.4. Branch office of a foreign company
1.5. Rare types
2. Incorporation of a legal entity
2.1. Terms
2.2. Requirements, etc.
3. Corporate governance rules
3.1. Executive bodies
3.2. Decision-making, etc.
4. Capital markets

V. Trade and commerce

1. General overview of commercial contracts
2. Conclusion of a foreign trade contract
3. Choice of law

VI. Antitrust and protection of competition
1. General rules

VII. Licensable activities
1. General overview
2. List of activities
3. General procedure of obtaining a license
4. Other forms of control (e.g. for Russia – selfregulating organizations, special permits, etc.)

VIII. Real estate
1. Obtaining ownership or lease rights
2. Registration of rights
3. Buildings
4. Lands

IX. Construction
Brazil
Russia
India
China
South Africa

1. Permissions and requirements
2. Control
3. Registration

X. Labour law
1. General rules
2. Main restrictions (minimum salary, maximum working day, overtime, minimum vacation, etc.)

XI. Intellectual property

XII. Taxation
1. Types of taxes and tax rates
2. Avoidance of double taxation

XIII. Litigation and dispute resolution
1. General information and types of courts
2. Commercial Courts
2.1. Filing a claim
2.2. Procedure of a hearing
3. International Arbitration
4. Enforcement of a judgement
4.1. Enforcement of a foreign judgement
4.2. Enforcement of an international arbitration award

Consulting Editor: Ravi Nath, Rajinder Narain & Co

Contributing firm	Author(s)

Brazil
Felsberg e Associados (Felsberg, Pedretti, Mannrich & Associated Lawyers)	Neil Montgomery
India
Rajinder Narain & Co	Ravinder Nath
Russia
Russin & Vecchi LLC	Dmitry Lyakhov
South Africa
Norton Rose South Africa	Kevin Cron
USA
Vedder Price PC	Richard W Pearse