It’s about time the American Bar Association recognized that the globalization of law is a “trend” that’s here to stay. I say this because the ABA House of Delegates just passed a resolution that would allow foreign attorneys to work in the U.S. as in-house counsel. The fact is that seven states already allow international attorneys to work as in-house lawyers in the U.S. … [Read more...]
U.S. Nonresident Aliens– Here's Your Quick Tax Summary.
With the amount of international business transactions originating or otherwise taking place in the U.S., it's no surprise that the U.S. hosts a great number of nonresident aliens who have a financial stake in these business transactions. Of course, that means that taxes will be owed. It can all get complicated if you're unfamiliar with the filing requirements. I mention … [Read more...]
China Surpasses U.S. in World Trade.
China is now number one in world trade, according to Bloomberg. In taking over the top slot from the U.S., China threatens to disrupt regional trading blocs across the globe, where the U.S. has been the dominant player. The Bloomberg report noted that, while U.S. exports and imports of goods last year totaled $3.82 trillion, China’s 2012 tally came in at $3.87 trillion, … [Read more...]
International Arbitration Tribunal Urges Ecuador to Stop Enforcement Action.
Several weeks ago I wrote about Ecuador's efforts to enforce its $18 billion judgment against Chevron in the decades-old litigation over contamination of Amazon river basin. In the latest development, an international arbitration tribunal at the Hague's Permanent Court of Arbitration ruled that Ecuador violated the panel's previous order to stop enforcement of a contested … [Read more...]
"Super" International Trade Ministry in the Works for Obama Administration.
The Financial Times is reporting that the Obama Administration is contemplating a "Super" trade ministry. The Super trade ministry would take in trade and business promotion as well as the Ex-Im Bank, an initiative that was initially sidelined by opposition in Congress. You can read more about the story here. … [Read more...]
Foreign Exemptions Should Apply in U.S. Bankruptcy Court.
I represent an individual, Client X from Country Y. In Country Y, Person X enjoys both a homestead and pension exemption under that country's bankruptcy laws. However, when Person Y, who is both a U.S. citizen and citizen of Country X, files for bankruptcy in the U.S., the foreign bankruptcy exemptions will be held not to apply. I think this is wrong for reasons I'll … [Read more...]
So Much for Expediency. International Arbitration Cases Can Take a Long Time, Too.
In the past two decades, international arbitration has become the dispute resolution mechanism of choice for resolving international commercial matters. One of the characteristics that made international arbitration so attractive was its expediency in getting matters resolved. This saved companies a great deal of money because they were not tied up in litigation for what … [Read more...]
Investment Visas in Brazil. The Basics.
There seems to be no end in sight for investment opportunities in Brazil. Here in Miami, where my practice is based, I've seen an incredible amount of interest from investors wanting to get their hands on Brazilian Visas. There's a great post over at the Brazilian Law Blog that does a great job of going over the types of visas available for those looking to invest there. In … [Read more...]
Thinking of Terminating Your International Employee? Not So Fast.
U.S. companies have a quick-trigger habit of terminating a foreign-based employee(s) without first taking a look at the termination laws of the host country. Details such as pre-termination notice, severance pay and termination procedures are often overlooked. This could spell serious trouble for the U.S. company down the road. That’s why it’s critical for U.S. multinational … [Read more...]
International Technology Laws Apply to You too, Google.
I can't stress enough how important it is for technology companies operating overseas to be mindful of the dizzying array of compliance laws that apply. Some companies just don't seem to get it. I bring this up because the Washington Post is reporting that Google faces at least 10 lawsuits in the United Kingdom over violation of the UK’s stringent privacy protection … [Read more...]