After being approved by the Egyptian Parliament, President Abdel Fatah El-Sisi has issued Law No. 182 of the year 2018 that regulates the contracts and agreements which are concluded by the Public Authorities in Egypt within the upcoming period that includes specific regulations that the General Authorities shall follow and apply.
In light of the remarkable development in the climate of investment in the Arab Republic of Egypt, which is working to attract investments, through establishing of companies and branches of companies and representative offices of major foreign companies, which led to the Minister of Investment and International Cooperation HE Sahar Nasr to issue numerous decisions and circulars to facilitate procedures for investment and assistance in the completion of services related to investors in the least time.
The Egyptian Financial Regulatory Authority (FRA) supervises & regulates all non-banking financial markets and instruments, including capital markets, futures exchanges, insurance activities, mortgage finance, financial leasing, factoring, securitization and microfinance.
According to Egypt’s Company Law, the purpose of the foreign representative office is to study the markets and the possibilities of production, without any commercial activities including the activity of the commercial agents, and it shall be closed after completion of the study process. The beneficiaries in this case are the foreign companies.
In Egyptian stock market, many transactions are held on securities and financial instruments that include stocks, bonds, sukuk and securitization bonds. Besides, investment certificates that take the form of companies.The competent authorities are the Financial Regulatory Authority and the Central Bank of Egypt (CBE).
Commercial Agency Contract is considered to be one of the most common contracts in the commercial area. Such contracts are governed in Egypt by Law No. 120 of the year 1982 (and the Ministry of Economy’s Decision No. 342 of 1982).
The Egyptian Parliament approved extending the Tax Dispute Resolution Law No.79 of the year 2016 for the upcoming two years. Such legislation was one of the most critical and important demands in the tax community,where it was issued to ease the process of Tax Dispute Resolution between the Financier and the Egyptian Tax Authority and to accelerate the lengthy tax dispute process, removing cases from court and allowing settlement by committees headed by experts who do not work for the Tax Authority.
Egypt’s government has completed the amendment of the new Labor Law including the Laws of Labor and Trade Union Organizations, in a way consistent with the current economic conditions of the country and its social reflections on all workers sectors as the Egyptian workers are considered the cause behind the real development, which will build the homeland and work on its prosperity; such workers bear the economic decisions issued in 2016, where the government ensured that such Laws will have a final and effective solutions for the workers issues in Egypt especially those between the employer and the employees.
Awarding Public contracts in Egypt is not specified by a certain law, nevertheless, the Egyptian Constitution has set a general principal that it is prohibited to dispose any of the State’s public property. However, disposing of the State’s private property, and public utility concessions are allowed in accordance with the laws promulgated in this regard. The main laws regulating the award of public contracts are:
Egypt used to govern technology crimes and cybercrimes by some provisions in Civil and Criminal laws. Finally, a new Law No. 175 of the year 2018 regarding anti-cyber and information technology crimes was published on Saturday 18/8/2018 by the official Egyptian Gazette following its ratification.
The new investment law in Egypt laid down the basic conditions for the allocation of lands to investors with obliging the concerned authorities (concerned ministries) to provide lands for investment and to notify the General Authority for Investment to include these lands in the investment map.
The Confidentiality might be stated in an independent Agreement called “Confidentiality Agreement” and it could be stated in certain Clauses in different agreements or contracts such as an employment contract. The Confidentiality Agreements or Clauses are essential in any contractual relationship, as it plays an important role in assuring the maintenance of the secrecy and confidentiality regarding all the information disclosed among all the involved Parties of the Agreement. It is a win-win situation for both Parties, as it protects both Parties and builds trust between Parties of the agreement.
The companies, its shareholders, directors and partners are regulated in Egypt by the Companies Law No.159 of the year 1981, it’s executive regulations and amended provisions of Law No.4 of the year 2018.
The Environmental Impact Assessment process is the process of assessing and evaluating the possible and potential environmental effects for a definite project, where such studies take place before the phase of the projects’ implementation in order to decide the best options to minimize the environmental impacts and hazards and to handle the negative aspects that are expected to happen before proceeding with the implementation step.
Counterfeit is defined by the Cambridge Dictionary as products made to look like the original of something, usually for dishonest or illegal purposes or something copied exactly in order to make someone believe that the copy is the original.
Egypt’s strategy 2030 is a Sustainable Development Strategy which requires development in all aspects to maximize competitive advantage in order to achieve well-being, production, prosperity, success, and interest.
High volume of daily commercial transactions in the economic environment globally and locally requires protection by the law to the interest of damaged parties due to breaching of agreements concluded between them. Therefore, the Egyptian Law defined that civil liability as the obligation to compensate for the damage caused by a breach of the original obligation, the original obligations arising from the contract, and others from the law.
The VAS services are services that are based on the content or format of the information that has changed in the content or body of the information it adds value to or provides integration between it and other services from Operational and/or administrative aspects, or those services that involve user interaction with stored information data.
Pursuant to the Egyptian Company Law No.159 of the year 1981 and its Executive Regulations as amended by Law No.4 of the year 2018, and chapter No. 6 of this law set forth the basic rules and legal framework for the incorporation of branches of foreign companies in the Arab Republic of Egypt, as well as the documents and procedures to be followed for the purpose of incorporation of branches