With the accelerated rise of special purpose acquisition companies (SPACs) over the past years, the Financial Regulatory Authority (FRA) in Egypt has given its green light for the establishment and licensing of SPAC...
IntroductionScope of ApplicationInvestment Law Objectives and PrinciplesInvestment GuaranteesInvestment IncentivesExpansion of Existing ProjectsCorporate Social ResponsibilityFDI Reporting RequirementsReturn of Priv...
What is a Digital Bank? A digital bank is a bank with technology-enabled business model which provide its services remotely with limited or no branch infrastructure. Alternative terms used by market participants are...
The Egyptian Council of Ministers issued an official circular (the “Circular”) this week ordering all the ministries in Egypt to issue a regulatory decision to prevent their workers from entering workplaces unless t...
Legal Updates1 Covid Updates Egypt Makes Covid-19 Vaccine Mandatory Taxes New E-Invoice System in Egypt Customs New Customs Law in Egypt: the Advance Cargo Information System Labor & Employment Payment of Salari...
Introduction As part of Egypt’s digital transformation, the Minister of Finance issued Decree no. 188/2020 in March 2020 to require VAT taxpayers to issue e-invoices. This Decree has delegated the Chairman of the Eg...
Introduction In implementation of the Customs Law no. 207 of 2020 and its executive regulations issued by Decree no. 430 of 2021, the Egyptian Customs Authority started the implementation of a new system for customs...
State authorities and public sector entities are required - by virtue of Law No. 18/2019 regulating Non-cash Payment Methods (the “Law”) - to execute payments of their employees, board members, service provide...
The Egyptian Minister of Planning and Industrial Development issued the long debated decree to set the minimum salary for private sector in Egypt. According to the decree the minimum salary of private sector employe...
The Suez Canal Authority (SCA) announced last week the successful floating of the ultra-large Ever Given ship which blocked the Suez Canal and led to the suspension of the navigation in a key artery for global trade...
Legal Updates1 Special Labor & Employment Issuance The New Normal – Remote Work and the Future of Employment & Labor Laws in Egypt New measures to link Social Insurance with Payroll Tax in Egypt Work Injury...
On 29 March 2021, the Social Insurance Authority in Egypt has issued a circular whereby the tax registration number of a company or entity will be recorded in the electronic social insurance system. Employers and co...
The digital transformation and prevalence of online technology have created new work models; the workforce is becoming mobile and employees are becoming able to do their jobs from anywhere through digital means of c...
The Egyptian Social Security Law No. 148/2019 (the “Law”) defines “work injury” as any injury caused by an accident occurred during the performance of work or resulting from it.
The new Social Insurance Law No. 148/2019 in Egypt (which came into force in January 2020) has introduced – for the first time - the concept of the Unified Social Insurance Salary and cancelled the traditional disti...
The Egyptian Data Protection Law No. 151/2020 (the “Law”) came into effect in October 2020. The executive regulation of the Law is expected to be issued by April 2021. Companies are given twelve 12-month grace perio...
In July 2015, a new law for electricity has been issued (Law no. 87 of 2015) to regulate all electricity activities with the aim of replacing the current single buyer model and establishing a fully competitive elect...
With the outbreak of the second wave of Covid-19 in Egypt, the government has issued a number of decisions and adopted certain measures to prevent the spread of virus. Banking Sector The Central Bank of Egypt (CBE)...
The National Council for Salaries (the “Council”) was first constituted in 2003 in accordance with Article (34) of the Egyptian Labor Law No. 12/2003. The Council is competent to determine the minimum salaries and t...
Riad & Riad represents the Italian energy group Eni in the significant deal reached with Spanish gas firm Naturgy and Egyptian partners to resolve disputes over Damietta liquefaction plant in Egypt. The agreements r...
Riad & Riad has successfully represented a leading multinational food manufacturing company in connection with a claim against the Egyptian Notary Public Authority for the refund of unduly collected Notarization Fee...
Introduction A new law is issued in Egypt regulating the Advertisements on Public Roads (the “Law”). The Law comes under No. 208 for 2020 and comes into effective as of 2 December 2020.
On 19 October 2020, the Unified Tax Procedures Law No. 206 of 2020 (the “Law”) was issued to introduce unified tax procedures or assessment and collection of the direct and indirect taxes. The Law also establishes t...
