Shareholder

Legal Alert 134

JSC Shareholder Limits in Filing a Lawsuit A Joint Stock Company (“JSC”) is a company capital of which is divided into shares of equal value and the liability of each shareholder is limited to the value of the shares owned by him; hence..he shall not be asked about the debts of the company except within…

الشهر العقاري

Legal Alert 133

Amending the Provisions of the Notary PublicLaw No. 186 of 2020 On September 5th, 2020, President Abdel Fattah Al-Sisi promulgated Law No. 186 of 2020 amending some provisions of the Notary Public law that was published in the Official Gazette to be enacted on March 4th, 2021. As of the date of entry into force,…

Legal Alert 132

Powers of the High Authority for Arbitration and International DisputesDecree no. 2592 of 2020 The Prime Minister issued Decree no. 2592 of 2020, (published in the Official Gazette on December 9, 2020), prohibiting all governmental entities and state-owned companies from concluding any contract with a foreign investor or agreeing to any arbitral clause without first…

MLI Impact Egypt

MLI Impact Assessment

Multi-Lateral Instruments modify the application of thousands of bilateral tax treaties concluded to eliminate double taxation. It also implements agreed minimum standards to counter treaty abuse and to improve dispute resolution mechanisms while providing flexibility to accommodate specific tax treaty policies. This is applicable to all multinational companies.

Tobacco

Legal Alert 131

Egypt Signs Protocol to Eliminate Illicit Trade in Tobacco Products On January 30th, 2021, President Abdel Fattah el-Sisi promulgated Law no. 170 of 2020 to ratify the Protocol to eliminate illicit trade in tobacco products. This protocol is the first of its kind with regards to implementing the WHO Framework Convention on Tobacco Control (“FCTC”)…

interest

Legal Alert 130

Agreements Applying Interest Exceeding 7% Violates Public Order When conducting commercial business in Egypt, businesses should be wary of a common misconception of the law, whereby, contracts may include clauses that are contrary to the law by confusing the types of interest applicable and exceeding the maximum permissible rate that may be agreed upon. There…

contracts

Legal Alert 129

Procedural Requirements for Acceptance of an Annulment Lawsuit A power of attorney (“POA”) is a legal document issued by a person to authorize another person to act as his/her agent and by which the latter is enabled to do or perform one or more acts on behalf of his/her principle. Regardless of whether the document…

Medical

Legal Alert 128

Regulating Clinical Medical Research On December 23rd, 2020, President Abdel-Fattah El-Sisi issued Law No. 214 of 2020 Regulating Clinical Medical Research, which is the first unified legislative framework for managing clinical trials. The new law combines a number of laws that stipulate the requirements in terms of guarantees, procedures, and prior obligations for such experiences. The law aims to set the…

Arbitral

Legal Alert 127

Annulment of Arbitral Award in Egyptian Arbitration Law Many business owners and commercial companies include an arbitration clause in their contracts, despite both arbitration and litigation being methods of dispute resolution which can be utilized to settle contractual. Arbitration generally falls under the scope of “alternative dispute resolution” and can be a means of quickly resolving commercial disputes. It…

down payment

Legal Alert 126

Regulating Down Payment Under Egyptian Civil Law A sale contract is a legally binding document that is generally irrevocable after its conclusion. In principle, contracts may not be revoked as a result of the will of one of the parties, hence; the legal terminology contract with the down payment has been established. When a preliminary…