RR NEWSLETTER ISSUE 31

February 6, 2024
Legal Updates1 Energy Egypt Releases New Law for Green Hydrogen Incentives Investment Projects Egypt Announces New Tax Incentives for Industrial Projects R&R News Riad & Riad scores a victory in a US$ 34.5 C...

Riad & Riad has been shortlisted as Employment Law Firm of the Year

February 4, 2024
We are thrilled to announce that Riad & Riad has been shortlisted in the Legal 500 MENA Awards 2024 as the Employment Law Firm of the Year. Also, our Partner Dr. Eman Riad has been shortliste...

R&R is Ranked by the Prestigious IFLR1000 Legal Directory as Recommended Firm

February 4, 2024
We are happy to be ranked by the prestigious IFLR1000 2023/2024 edition as a Recommended Firm in three categories, namely: Project Development M&A Project Finance Also, our partner Mohamed Riad is iden...

Riad & Riad scores a victory in a US$ 34.5 Construction Dispute

February 4, 2024
We are delighted to secure a victory for our client, a leading Korean EPC construction company, in relation to a US$ 34.5 million direct claim that was initiated against it by one of its subcontractors. The dispute...

Riad & Riad Successfully Defended a Multinational Food Manufacturing Company in Food Safety Prosecution

February 4, 2024
Riad & Riad has successfully defended a multinational food manufacturing company in food safety prosecutions involving breach of Food Control Law, the Fraud Combating Law and the National Food Safety laws and re...

Egypt Releases New Law for Green Hydrogen Incentives

February 4, 2024
A new law is issued in Egypt under number 2 for 2024 regulating the Incentives for Green Hydrogen Projects and Its Derivatives (the “Law”). The law comes into force as of 28 January 2024. The Law defined the green h...

Egypt Announces New Tax Incentives for Industrial Projects

February 4, 2024
Egyptian Cabinet issued Decree No. 77 of 2023 ("Decree") granting new tax incentives (“Tax Incentives”) to the industrial investment projects and their expansions. The Decree comes without prejudice to the recent in...

RR NEWSLETTER ISSUE 30

November 5, 2023
Legal Updates1 Investment Egypt Removes Restrictions on Foreign Companies to Obtain Importation License Egypt – Amendment to the Investment Law Tax Egypt – Amendments to the Income Tax Law Banking Egypt Introduces t...

Egypt Establishes a New Authority for Intellectual Property

November 4, 2023
Law No. 163 of 2023 (“Law”) was issued on 6 August 2023 for the establishment of the Egyptian Authority for Intellectual Property (“IP Authority”). The IP Authority will have an exclusive and comprehensive competenc...

R&R in the public consultation sessions on the new Private-to-Private (P2P) rules for the electricity sector in Egypt

November 4, 2023
Our partner Dr. Fatma Salah participated in the public consultation sessions held by EgyptERA (with the support of EBRD) on the new Private-to-Private (P2P) rules for the electricity sector in Egypt.Riad & Riad ...

Successful Completion of R&R 2023 Summer Internship Programme

November 4, 2023
We had a successful summer at Riad & Riad Riad with our 2023 Summer Internship Programme! We welcomed two batches of talented, and carefully selected, interns for a two-week immersive experience at our...

Seminar on Investment Law to Japanese Business Community in Egypt

November 4, 2023
Our partner Dr. Eman Riad delivered a presentation to the Japanese investors and businessmen in relation to the recent incentives under the Investment Laws in Egypt. The meeting was attended by the Japanese ambassad...

Egypt Increases the Minimum Wage for Private Sector Employees

November 4, 2023
The Egyptian Minister of Planning and Industrial Development issued Decree No. 46 of 2023 (the ”Decree”) setting the minimum salary for private sector employees in Egypt. The minimum salary of private sector employe...

Egypt Introduces the Rules Governing Digital Banking Licensing

November 4, 2023
On 12 July 2023, the Central Bank of Egypt (“CBE”) issued a circular (the “Circular”) regulating the requirements for licensing and registering Digital Banks in Egypt. The rules determined under the Circular allow e...

Egypt – Amendments to the Income Tax Law

November 4, 2023
The Income Tax Law No. 91/2005 (“Income Tax Law”) has recently witnessed major amendments by virtue of Amendment Law No. 30/2023 (issued on 15 June 2023) and Law No. 175/2023 (issued on 30 October 2023). These amend...

Egypt – Amendment to the Investment Law

November 4, 2023
With the aim of creating an attractive climate for investment and streamline investment procedures, the Egyptian government introduced important amendments to the Investment Law No. 72 of 2017 (“Investment Law”) by...

Egypt Removes Restrictions on Foreign Companies to Obtain Importation License

November 4, 2023
The Egyptian Importer Registry Law No. 121/1982 is amended to allow companies wholly owned by non-Egyptians to obtain an importation license and carry out importation business for trading purposes freely. The law pr...

Summer Internship Programme

August 16, 2023
Our two-week paid Summer Internship Programme will give you a real insight into our work, people and culture. You will spend two weeks working as part of the team in one of our main departments: Corporate, Fina...

OVERVIEW OF THE EGYPTIAN LABOR LAW

June 30, 2023
Employment and labor relationships in Egypt are regulated by the Egyptian Labor Law No. 12/2003 and relevant Decrees (the “Labor Law”). The Labor Law was promulgated on 7 April 2003 consisting of 257 Articles includ...

Egypt Announces Green Hydrogen Incentive Package

May 17, 2023
The Egyptian Cabinet of Ministers approved bill on incentives of projects of green hydrogen and its derivatives. Scope of Application According to the bill, the law will apply on hydrogen projects which will sign th...

RR NEWSLETTER ISSUE 29

May 4, 2023
Legal Updates1 Taxes Egypt’s VAT on Remote Digital Services Fintech Egypt – New Tokenization Regulations to allow contactless payments through smartphone Consumer Finance Companies to Provide Payment Services Using...

Egypt – New Tokenization Regulations to allow contactless payments through smart phone

May 4, 2023
The Central Bank of Egypt (“CBE”) issued new regulations on 8 March 2023 to introduce “Tokenization” services and allow contactless payments through smartphones (the “Regulations”). Tokenization is a process of subs...

Egypt – Consumer Finance Companies to Provide Payment Services Using Prepaid Cards

May 3, 2023
The Financial Regulatory Authority (“FRA”) issued Decree No. 61 for 2023 (“Decree”) to allow licensed consumer finance companies to provide payment services using prepaid cards on behalf of banks. The Decree authori...

Egypt’s VAT on Remote Digital Services

April 27, 2023
The Egyptian Minister of Finance issued Decree 24 of 2023 amending the Executive Regulations of the Value Added Tax Law No. 67 of 2016 (“VAT Law”) to regulate the application of Value Added Tax (“VAT”) on imported r...