covid-19 update

Covid-19 Update – January 2021

January 10, 2021
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)...
Newsletter

RR NEWSLETTER ISSUE 20

January 3, 2021
Legal Updates

Reconstitution of the National Council for Salaries – A Step towards Setting a Minimum Salary for Private Sector Employees

January 3, 2021
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 to reopen Egypt’s Dammietta LNG plant

January 2, 2021
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 won a claim against the Egyptian Notary Public for the refund of unduly collected notarization fees

December 28, 2020
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...

Egypt – New Law Regulating Advertisement in Public Roads

December 26, 2020
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.

Egypt’s New Unified Tax Procedures Law

December 26, 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...

Egypt– New Approval Required for Government Contracts and Arbitration Agreements

December 26, 2020
The Prime Ministerial issued Decree 2592 of 2020 (“Decree”) to prohibit all governmental entities and state-owned companies from concluding any contract with a foreign investor or agreeing to arbitrate without first...

مطلوب محامي مقبول أمام محاكم الاستئناف

October 26, 2020
يعلن مكتب رياض ورياض للمحاماة والاستشارات القانونية عن حاجته لمحامِ مقيد أمام محاكم الاستئناف.

New point-based residency system for investors

October 14, 2020
On the 1st of October 2020, the General Authority for Foreign Investment in Egypt (“GAFI”) issued important rules adopting new “points-based” system for the issuance of residence permits for foreign investors (for u...

Amendment to Stamp Duty and the Capital Gains Tax on Sale of Shares and Dividends Tax

October 14, 2020
Law No. 199/2020 was issued on 30 September 2020 to amend the stamp duty and the capital gain tax on sale of shares as well as the dividends tax. The law is effective as of the 1st of October 2020.
food additives new rules

New Rules for Food Additives

October 14, 2020
National Food Safety Authority (“NFSA”) issued on September 2020 its Decree No. 4/2020 regarding food additives accepted for use by the food industry (the “Regulations”)

RR NEWSLETTER ISSUE 19

October 5, 2020
Legal Updates

Hydrogen Projects

October 4, 2020
Riad & Riad has delightedly contributed to CMS Expert Guide to Hydrogen – The Promise of Hydrogen: An International Guide by authoring the Egyptian chapter.

New Licensing Requirement for Food Importation in Egypt

October 4, 2020
The National Food Safety Authority (“NFSA”) issued Decree No. 6/2020 (the “Decree”) to regulate importation of food in Egypt and ensure safety and quality thereof.

Merger Fee on Solar Net-metering

October 4, 2020
The Egyptian Electricity Utility and Consumer Protection Regulatory Agency (EgyptERA) announced that it will apply a ‘merger fee’ to net-metered solar systems. The fee will be EGP 0.10-0.40/kWh on net-metered solar...

RR NEWSLETTER ISSUE 18

August 19, 2020
Legal Updates

Is Egypt Adopting a New Approach of “Furloughs” and “Involuntary Temporary Leaves”?

August 19, 2020
A collective bargaining agreement (“CBA”) was concluded in Egypt last June between a group of companies including Schlumberger Logelco, Dowell Schlumberger ME, MI Overseas, WesternGeco and others (the “Companies”) a...

New Law in Egypt Mandating 1% Salary Tax to Contain Adverse Consequences of COVID-19

August 19, 2020
A new law was on 13 August 2020 under no. 170/2020 deciding solidarity contribution obligation on private and public sector employees and managers to face the adverse economic consequences of pandemics and natural d...

Egypt New Personal Data Protection Law

July 18, 2020
A new law No. 151 for 2020 is issued in Egypt on 15 July 2020 to regulate Personal Data Protection (the “Data Protection Law” or the “Law”). The Law is modeled to a large extent on the EU General Data Protection Reg...
newsletter

RR NEWSLETTER ISSUE 17

July 13, 2020
Legal Updates

Egypt imposes entry visa fees on GCC citizens

July 13, 2020
The Egyptian Minister of Interior issued Decree No. 951/2020 to impose entry visa fees on citizens of the Gulf Cooperation Council (GCC) countries (Saudi Arabia, United Arab Emirates, Kuwait, Bahrain and The Sultana...

E-Learning in Public Universities

July 13, 2020
In the light of the precautionary measures adopted by the Egyptian government to combat the spread of COVID-19 pandemic, the Egyptian Prime Minister issued Decree No.1200/2020 to allow public universities to teach t...

Extension of the tax reduction incentive for further three years

July 13, 2020
The Egyptian Cabinet of Ministers extended the period during which eligible investment projects can benefit from the tax reduction system under the Investment Law No. 72/2017 (“Investment Law”) from 3 years to 6 yea...