RR NEWSLETTER ISSUE 25

June 19, 2022
Legal Updates1 Energy Legal Framework of Hydrogen in Egypt – Opportunities and ChallengesEgypt – Cabinet Confirms that Green Hydrogen and Green Ammonia Projects can benefit from Tax Incentives under the Investment L...

Egypt – Cabinet Confirms that Green Hydrogen and Green Ammonia Projects can benefit from Tax Incentives under the Investment Law

June 19, 2022
The Prime Minister announced that companies operating in the following green energy project will benefit from the tax incentives stipulated under the Investment Law No. 72 for 2017: The production, storage and expor...

Dr. Fatma Salah selected as Vice Chairman of the Economic Legislation Committee at the EBA

June 18, 2022
We are pleased that our partner, Dr. Fatma Salah has been selected as the Vice Chairman of the Economic Legislation Committee at the Egyptian Business Association (EBA). The EBA is a reputable and trusted pressure g...

Egypt Regulates the Enforcement of Startups Share Transfer under Convertible Instruments

June 18, 2022
The Egyptian Financial Regulatory Authority (FRA) issued Decree 68 for 2022 to amend the Rules of Trading of Unlisted Shares issued by virtue of Decree 94 for 2018 (the “Rules”). The amended Rules allowed Misr for C...

Legal Framework of Hydrogen Energy in Egypt – Opportunities and Challenges

June 16, 2022
Introduction Egypt adopted an ambitious energy diversification strategy. The strategy aims at ensuring the continuous security and stability of power supply, the diversification of energy resources and the optimum e...

New Circular Confirms the Obligation to Pay Contribution of 1% of Net Profit to the Vocational Training Fund

June 7, 2022
On 18 May 2022, the General Secretary of the Vocational Training Fund (“Fund”) issued a circular confirming the obligation on employers to pay a contribution of 1% of their annual net profit to the Fund (“Contributi...

RR NEWSLETTER ISSUE 24

March 19, 2022
Legal Updates1 Energy New Merger Fee Imposed on Renewable Plants in Egypt Fintech New FinTech Law in Non-Banking Financial Activities in Egypt Hospitality New Law for Hotels and Tourism Establishments Aviation Minis...

Favorable Court Judgement in a Dispute against a Senior Executive

March 15, 2022
Riad & Riad scored a favorable court judgments for a leading UK textile and fabrics company in a dispute against a senior executive director. The Court of First Instance and the Court of Appeal decided that a bo...

R&R Ranked in Chamber Global 2022

March 15, 2022
We are pleased to announce that Riad & Riad got ranked by Chambers Global 2022 in Corporate/M&A for work undertaken in 2020/2021. We are also very pleased that our Partner Dr. Fatma Salah  has been ranked fo...

R&R Scored a Victory Nullifying an Arbitration Award in a Collective Labor Dispute

March 12, 2022
Riad & Riad has successfully represented a multinational aviation company in a long dispute against the Labor Union of Air-Transport in Egypt. The High Court of Cassation in Egypt has issued its judgment decidin...

New FinTech Law in Non-Banking Financial Activities in Egypt

March 10, 2022
On 8 February 2022, Law No. 5 of 2022 Regulating the Development and Use of Financial Technology in the Non-Banking Financial Activities (the “FinTech Law” or the “Law”) was issued. The Law came into effect the next...
Picture of the awarded blocks in the bid round 2021 is available at Egyptian Upstream Gateway.

R&R Advises ENAP Sipetrol in relation to the Concession of West Amer Block in Gulf of Suez

March 9, 2022
Riad & Riad is appointed by Chile’s ENAP Sipetrol to advise it in relation to awarded concession of West Amer Block in Gulf of Suez, Egypt. The Ministry of Petroleum and Mineral Resources announced on 3 January...

Ahead of COP27 – Egypt Relaxes the Restrictions on Net Metering and Self Consumption Solar Plants

March 9, 2022
The Egyptian Electric Utility & Consumer Protection Regulatory Agency (EgyptERA) issued Decree 6/2022 announcing new incentives aiming at encouraging more solar plants under (1) the net-metering system and...

New Law for Hotels and Tourism Establishments

March 9, 2022
A new law No. 8 of 2022 regulating Hotels and Tourism Establishments is issued in Egypt on 6 March 2022 (“Law”). The Law cancels and replaces Law No. 1 of 1973 and it regulates the licensing and regulatory complianc...

Minister of Civil Aviation Decree to Provide Advance Passengers Information

February 9, 2022
The Minister of Civil Aviation has issued Decree 1083/2021 regulating the obligation of airline companies to provide Advance Passengers Information (“API”). The Decree wa...

New Merger Fee Imposed on Renewable Plants in Egypt

February 8, 2022
Renewable power generation plants with a capacity of more than 500 kW will be subject to a new grid merger fee in Egypt. The Egyptian Electric Utility & Consumer Protection Regulatory Agency (EgyptERA) issued Ci...

Consumer Protection – Requirement to Disclose Products Lifespan

February 7, 2022
The Egyptian Consumer Protection Agency ("CPA") issued Decree No. 4/1 for 2021 (“Decree”) to oblige manufacturers, distributors and suppliers of any product to disclose its expected lifespan to the consumers. We bel...

حوار مع جريدة المال حول مشروع قانون العمل الجديد

January 31, 2022
أجرت الدكتورة إيمان رياض الشريك بالمكتب حوار مع جريدة المال حول مشروع قانون العمل الجديد الجارى حاليًا مناقشته أمام مجلس الشيوخ. وقد اوضحت د/ إيمان خلال الحوار الايجابيات والسلبيات التى اتى بها مشروع القانون وك...

RR NEWSLETTER ISSUE 23

January 31, 2022
Legal Updates1 Investment Egypt’s Investment Regulations Energy Egypt Increases the Customs Tariff on Solar Panels – Is It 5% or 2%? Banking Legal Framework of Digital Banking in Egypt Tax Capital Gain Tax and Stamp...

Capital Gain Tax and Stamp Tax on Trading Securities

January 30, 2022
In 2014, the Egyptian Income Tax Law No. 91 for 2005 (“Income Tax Law”) was amended to apply capital gain tax (“CGT”) on the gains realized from the disposal of shares. The tax rate differs depending on the shares b...

Regulating Advertisement of Medical Products and Services

January 30, 2022
According to the Medical Advertisement Law No. 206/2017 (the “Law”), any promotion or advertising of a healthcare product or service has to be pre-approved and licensed by a special committee to be established by th...

Egypt Increases the Customs Tariff on Solar Panels – Is It 5% or 2%

January 30, 2022
According to Article 5 of Decree No. 419 of 2018 regulating Customs Tariff (“Customs Tariff Decree”), renewable energy machines and equipment (solar and wind) are subject to a flat rate of 2% or the regular customs...

Speaking at 11th World Litigation Forum – Recent Developments in Transnational Litigation

January 24, 2022
Our partner Dr. Fatma Salah was invited to speak at the 11th World Litigation Forum that took place in Dubai on the 19th and 20th of  January. She joined an esteemed panel of international experts to...

Favorable Arbitral Award for a Multinational Construction Company

December 19, 2021
Tribunal decided unanimously the inarbitrability of construction social insurance disputes and dismissed the claim Riad & Riad scored a victory defending one of the international construction cong...