May a Barbadian Travel Agent invest in or establish a legal presence in the EU under the provisions of the EPA?

February 09 2012 | Travel Agents, Tour Operators and Tour Guides

Yes.  The Economic Partnership Agreement between the EC and CARIFORUM allows Barbadian companies to invest in and or establish a legal entity in the EC.  In both Bulgaria and Portugal, however, there is a condition that the business must be incorporated under national laws.  There are some general conditions in the following countries that will apply, also:

Austria, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Spain, Greece, Finland, Hungary, Ireland, Italy, Lithuania, Latvia, Malta, Poland, Romania, Slovak Republic, and Slovenia place limitations on the acquisition of land and real estate, while the following countries impose limitations that require senior management personnel or Directors to have either local citizenship or residency:  Estonia, Finland, Italy, Romania and Sweden.

In Poland, there are limitations on the types of businesses that Barbadians may engage in under the EPA while Bulgaria, France, Finland and Italy limit the type of investment e.g. a maximum percentage for foreign shareholding or voting rights allowed by Barbadian nationals.

In the EC in general, there may be limitations placed on the treatment extended to branches and agencies.