Export Impact For Good

 
Countries / Territories


  •    European Communities-Cariforum Economic Partnership Agreement



    Auditing and Taxation Services

    1. A Caribbean business can establish a practice in any EC country to provide the following:

    Accounting and Book-keeping Services

    Auditing Services

    Taxation Advisory Services

    These opportunities are subject to:

    • General reservations1

    Country specific reservation

    • Austria: Foreign accountants', auditors' and taxation advisors' equity participation and shares in any Austrian legal entry may not exceed 25% if they are not members of the Austrian Professional Body. Foreign accountants must be authorised according to the law of their home country.

    Accounting and Book-keeping Services:

    • Denmark: To enter into partnerships with Danish authorised accountants, foreign accountants have to obtain permission from the Danish Commerce and Companies Agency.

    Auditing Services:

    • Denmark: To enter into partnerships with Danish authorised accountants, foreign accountants have to obtain permission from the Danish Commerce and Companies Agency.

    • Czech Republic: At least 60% of capital share or voting rights are reserved to nationals.

    • Finland: Residency required for at least one of the auditors of a Finish Liability Company.

    • Latvia: In a commercial company of sworn auditors, more than 50% of the voting capital shares shall be owned by sworn auditors or commercial companies of sworn auditors of the EC.

    • Lithuania: Not less than 75% of shares should belong to European auditors or auditing companies.

    • Slovak Republic: At least 60% of capital share or voting rights are reserved to nationals.

    • Slovenia: The share of foreign persons in auditing companies may not exceed 49% of the equity.

    • Sweden: Only auditors approved in Sweden may perform legal auditing services in certain legal entities (e.g. in all limited companies). Only such persons may be shareowners or form partnerships in companies that practice qualified auditing for official purposes. Residency required for approval

    1. A Caribbean business can obtain visas for staff from the Caribbean to work in the company hotel, restaurant, agency or spa (their commercial presence) in Europe:

    Key personnel (e.g. managers and specialists) and graduate trainees on intra-corporate transfers for a period of up to 3 years.

    Senior staff responsible for establishing a commercial presence for 90 days in any 12-month period.

    New graduate trainees for one year. Spa Services*


    These opportunities are subject to:

    • General reservations2

    Country specific reservation

    • Austria: Nationality condition applies for representation before competent authorities and for performing audits provided for in specific Austrian laws (e.g. joint stock companies law, stock exchange law, banking law). Managing directors of the firm have to be resident in Austria. The person responsible for compliance with the Austrian Trade Act must be resident in Austria.

    Accounting and Book-keeping Services:

    • France: Provision of accounting and bookkeeping services is conditional on a decision of the Minister of Economics, Finance and Industry, in agreement with the Minister of Foreign Affairs. The residency required cannot exceed 5 years.

    Auditing Services:

    • Finland: Residency required for at least one of the auditors of a Finnish Liability company.

    • Denmark: Residency required.

    • Greece: Nationality condition applies for statutory auditors.

    • Italy: Nationality condition applies for administrators, directors and partners of companies other than those covered by the 8th EEC directive on company law. Residence required for individual auditors.

    • Spain: Nationality condition applies for statutory auditors and for administrators, directors, and partners of companies other than those covered by the 8th EEC directive on company law.

    • Sweden: Only auditors approved in Sweden may perform legal auditing services in certain legal entities (e.g. all limited companies). Residency required for approval.

    Taxation Advisory services:

    • Bulgaria: Nationality condition applies for specialists.

    • Hungary: Residency required.

    • Slovenia: Nationality condition applies for specialists.

    1. Contractual Service Suppliers3 can travel to Europe to provide accounting, bookkeeping and taxation advisory services in all EC countries (except Portugal for taxation advisory services).

    These opportunities are subject to:

    • The terms and conditions as outlined in the introduction to this guide.

    • Economic needs test applies in: Bulgaria, Czech Republic, Denmark, Finland, Greece, Hungary, Latvia, Lithuania, Malta, Romania, Slovak Republic. Also applies in Belgium except when the annual wage is above the amount defined by the relevant laws and regulations.

    • Austria: The employer must be a member of the relevant professional body in the home country where such body exists

    Accounting and Book-keeping Services:

    • France: Authorisation is required.

    Taxation Advisory services:

    • Austria: Nationality condition applies for representation before competent authorities.

    • Hungary: Residency required.

    Mutual Recognition of Licensing and Qualifications:

    In order to provide services in another country, a person's qualifications or business' licensing needs to be recognised in that country. The Agreement establishes a process for the private sector, through its relevant professional bodies, to negotiate the terms for mutual recognition of qualifications and licensing requirements.The Agreement requires the relevant professional bodies for the professional services sector to begin negotiations with counterparts in Europe within 3 years. The professional bodies will then make recommendations to the CARIFORUM-EC Trade and Development Committee, who will finalise the mutual recognition agreements.

    A Caribbean business can provide the following services from their home country to clients in Europe:

    1. Accounting and Bookkeeping services in Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, Germany, Greece, Ireland, Latvia, Lithuania, Luxembourg, The Netherlands, Poland, Portugal, Slovak Republic, Spain, Sweden, and the United Kingdom

    2. Auditing services in Austria, Czech Republic, Denmark, Estonia, Latvia, Lithuania, Poland, Slovak Republic, and Sweden
      The development of internet marketing strategies for SMEs in the tourism sector;

    3. Taxation Advisory services in Austria, Belgium, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, The Netherlands, Poland, Portugal, Slovak Republic, Spain, Sweden, and the United Kingdom.


    1General reservations:
    i) Limitations on the acquisition of land and real estate (in Austria, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Spain, Greece, Finland, Hungary, Ireland, Italy, Lithuania, Latvia, Malta, Poland, Romania, Slovak Republic, and Slovenia).
    ii) Limitations requiring local citizenship or residency of senior management or Board of Directors (in Estonia, Finland, Italy, Romania and Sweden).
    iii) Limitations on the type of business e.g. limited liability company, limited partnership in Poland.
    iv) Limitations on the type of investment e.g. a maximum percentage for foreign shareholding or voting rights (in Bulgaria, France, Finland and Italy).
    v) Registration, licensing and qualification requirements apply in all EC countries.
    vi) The scope of operations of a representative office may only encompass advertising and promotion of the foreign mother company represented by the office (in Bulgaria, Poland).
    2 General Reservations:
    i) Bulgaria: applies economic needs test for graduate trainees. The number of transferred staff is not to exceed 10% of the average annual number of the European citizens employed. If the company has less than 100 employees, the number of transferred staff may exceed 10% with authorisation.
    ii) Finland: imposes nationality and residency requirements for the managing director of a company.
    iii) France: authorisation for foreign managers takes into consideration the availability of local managers. The managing director needs specific authorisation if not the holder of a residence permit.
    iv) Hungary: applies economic needs test for graduate trainees.
    v) Romania: requires a company's auditors and their deputies to be Romanian.
    vi) Sweden: requires the managing director of a company to reside in Sweden.
    3 Employees of a Caribbean company that does not have a commercial presence in Europe but which does have a contract to supply services in an EC country.