The ‘Law & Practice’ sections provide easily accessible information on navigating the legal system when conducting business in the jurisdiction. In this article, lawyers from the German law firm P+P Pöllath + Partners explain the German corporate law and practice at key transactional stages and for crucial aspects of doing business. more…
Moving into and out of Germany – When the fiscal authorities reach their limits
For many coming from other countries, Germany is an attractive country to which to move. At the same time, each year thousands of people leave Germany for a limited period of time or permanently. German tax law until today has difficulties with the proper treatment of these multiform cases of natural persons moving into and out of Germany. more…
Update on Funds Regulatory Law
Dr. Dominik Oberholzer (Kellerhals Carrard), John Verwey (Proskauer Rose LLP) and Dr. Sebastian Käpplinger (P+P) share a panel discussion about recent updates to the regulatory environment for investment funds. more…
Fund Secondaries – Interview with Sunaina Sinha on opportunities for value creation
Sunaina Sinha from Cebile Capital is interviewed by Tarek Mardini (P+P) on her perspectives on fund secondaries and opportunities for value creation. more…
Fund Secondaries – Finding value from different perspectives
The panel led by Amos Veith (P+P) and Tarek Mardini (P+P) discussed large market trends in the secondaries’ market and also different perspectives and approaches to create value. more…
Video – Recent Development in M&A Transactions with Private Equity Sponsors
In a panel discussion moderated by Dr Frank Thiäner (P+P), Jessica Adam (Macfarlanes), Dr Gernot Eisinger (Afinum), Dr Sven Harmsen (Baird) and Stefan Maser (Equistone Partners) discuss current developments and challenges in the M&A / private equity market in 2018. more…
Recent Developments in M&A Transactions with Private Equity Sponsors
On MUPET 2018, the participants of the M&A panel agreed that the German market for transactions involving private equity sponsors has remained stable in the first six months of this year and continues to show a high deal frequency. more…
ILPA and other influences on LPA terms
This article assesses the impact of the ILPA Principles on the negotiation of fund terms among fund managers and investors, and the part they have played in influencing and shaping limited partnership agreements (LPAs). more…
5th Anti-Money Laundering Directive adopted
On 19th April 2018, the European Parliament has adopted the 5th Anti-Money Laundering Directive (5AMLD). This memo provides a first summary of the new law relating to beneficial ownership registers in the Member States and on the EU level, and the roadmap for the transposition of 5AMLD into national law. more…
The quiet revolution
Private equity continued making inroads in the German economy in 2017, with controversy surrounding whether private equity funds should get VAT exemptions, writes Andreas Rodin of P+P Pöllath + Partners. more…
German Regulator has published new investment circluar for pension funds
On 12th December 2017, the German Federal Financial Services Supervisory Authority published the final version of the long-awaited new investment circular for pension funds (the “Circular”). more…
The biggest mistakes in management participation programs
Management participations are standard in MBO/LBO transactions by financial investors. The aim of financial investors is to combine their interests with those of management. Employees shall become entrepreneurs. The implementation of management participation has become continually more professional during the past 20 years. Nevertheless, in practice one still sees mistakes made in both the process and the actual structuring that can lead to the lack or even negation of the positive effectiveness of management participation. more…
Corporate Tax 2018 – Insight Germany
This article covers common issues in corporate tax laws and regulations in Germany – including capital gain, overseas profits, real estate, anti-avoidance and BEPS. more…
The new transparency register in Germany
As of October 1, 2017, corporate entities, other private law corporations and trusts are required to report their beneficial owners to the newly-established German transparency register. more…
Tax and legal treatment of carried interest in Germany
The tax and legal treatment of carried interest in Germany shares many similarities with the treatment in other main fund jurisdictions, but there are distinct differences. This article provides an overview of fund structuring in Germany, explains the current tax treatment of carry and considers the outlook for the tax treatment of carry in Germany. more…