Legal Framework :Post 25th of January, 2011 Revolution Direction following Revolution of 25th of January, 2011, Egypt has been heading towards the future in a slightly different track. Political and economic distress has led to significant changes
Import :Import is strictly regulated by the Egyptian government permitting Egyptian nationals only and fully owned and managed Egyptian companies to import into Egypt. For importation into Egypt for the purpose of trade, companies/individuals should register with the Register of Importers.
The liquidation of companies in Egypt is governed by the Egyptian Companies Law. No. 159/1981, the law governs all the aspects of the companies’ liquidation including the reasons of liquidation, status of the company under liquidation, the appointment of the liquidator, responsibilities of the liquidator and revocation of the liquidator.
The new ministerial decrees 991/2015 and 43/2016 issued by the Minister of Trade introduced new measures concerning the registration and certification requirements of the qualified factories/companies which export their products to Egypt. According to the above-mentioned decrees any foreign factory or company, which exports any of the regulated products is obliged to submit the requested documents (after translating into Arabic and legalizing up to the Egyptian consulate in the exporting country) to the General Organization for Import and Export Control (GOEIC). Such measures represent some difficulties to foreign companies exporting to Egypt due to the complexity of the process. Further, failure in submitting the right authorized documents leads to the rejection of the factory/company file by GOEIC. This article aims to highlight some difficulties that face foreign companies in the registration process.
Many Egyptians living and working abroad are facing challenges regarding authentication and documents’ legalization in Egypt. The challenges that mainly face Egyptians are the process of authentication and legalization of their documents in the Egyptian Authority and embassies in Egypt.
Throughout 30 years of experience in providing clients with immigration services in Egypt we found that many foreigners and companies are facing many issues in obtaining work permit in that’s due to the complicated process of receiving work permit in Egypt and involvement of numerous authorities.
As with any other commercial activity, maritime insurance has an essential role in the overseas trade that involves transportation of goods from one country to another via ships, this type of insurance covers perils of the sea including the loss of ships, cargo, terminals and any transport or property by which the cargo is transferred.
Usually within the drafting process parties may neglect that a dispute may arise in the future regarding, for example, the validity of the contract, at this moment many questions can arise; what is the law governing this contract? To any jurisdiction parties will refer their dispute to? What will be the method of settlement in case the dispute arises? These clauses are very important clauses to be taken into account when drafting a contract to avoid legal uncertainty. In this article, it is briefly discussed what is meant by those clauses and how to be included into the contract.
On 5th of September 2016, the new Value Added Tax (VAT) Law in Egypt has been promulgated and published in the Official Gazette entering into effect on 8th of September 2016. The new Law no. 67 of year 2016 replaces the General Sales Tax (GST) Law no. 11 of year 1991 and any other legal provision contradicting with the new law shall be annulled.
The Egyptian legal system is greatly influenced by the French Civil Code System. The main comprehensive code in Egypt is the Civil Code No. 131 for the year 1948 that covers vast types of transactions between individuals including personal rights, contracts, obligations and torts.
Foreign enterprises wishing to conduct business in Egypt may enter the Egyptian market by establishing a permanent legal structure. Foreign investors are permitted to establish various types of entities by the Egyptian law. These entities may have either permanent presence as Limited Liability Companies and Joint Stock Companies or temporary presence as Foreign Branch Offices and Foreign Representative Offices. Generally, investment in Egypt is subject to the Egyptian Corporate Commercial Law, however, if the entity invests in certain fields, it might obtain benefits from the Egyptian Investment Law.
A franchise agreement is the agreement concluded between a seller “Franchisor” and the buyer “Franchisee” by which the franchisor allows the franchisee to use its trade mark and provides him with the knowhow and the manual book of business (the rules, steps and manuals to run the business), while the franchisor is not liable for the franchisee’s illegal acts or conducts.
Al Waqa’ea Al Misreya – No. 83 Cont. (A) on 19th April 2014 Ministry of Trade, Industry and Investment Decision No. (267) for 2014 (councils of small exporters and innovated exports)For reformation of the exportation councils for non-traditional exports
Official Gazette – No. 18 Bis (B) on 6th May 2014 The Presidential Decision by the Law No.34 for the year 2014 of the System of the Suez Canal Authority system Regarding the amendment of some Provision for the Law No. 30 for the year 1975