Author: Tasneem El-Nagar On the 4th of June 2023, several amendments have been introduced with respect to the requirements for establishing Private Free Zones under the Investment Law No. 72 for the year 2017 (Article (76) of the Executive Regulations). The Amendments: These amendments can be summarized as follows: First:...
Client Alert – IDA Temporary Operation License Launched (June 2023)
Author: Ibrahim Shehata On 28th of May, 2023, the Ministry of Trade and Industry published decree No. 149 of 2023 regulating the issuance of a temporary operating license for industrial facilities (“Decision”). The Decision sets out the rules and the procedures to be implemented in the application of Law No....
Effects of Currency Depreciation on Contracts under the Egyptian Law (With Special Emphasis on Construction Contracts)
Author: Youssef Emam 1. Introduction The Egyptian Pound (“EGP”) has been suffering against the US Dollar (“USD”) recently. In this regard, it is estimated that the EGP has lost more than 50% of its value against the USD since March 2022. Notably, the EGP has hit various new lows since...
The Egyptian Cabinet Proposes a Promising Package of Incentives for Green Hydrogen Projects
Author: Salah Mohamed The Egyptian Cabinet has approved a bill of law setting out a package of incentives for projects within the realm of Green Hydrogen production and ancillary industries. In this regard, the bill of law shall apply as follows: A. Projects Eligible to the Package of Incentives: According...
Ultimate Beneficial Owners Disclosures are Now in Force in Egypt
Author: Alaa Zakaria On March 1st, 2020, the Egyptian Minister of Supply and Internal Trading issued the Ministerial Decree No. 41 of 2020 (the “Decree”) amending the Executive Regulations of the Commercial Register Law No. 34 of 1976 (the “Law”). Under the said Decree, all existing companies in Egypt are...
The Egyptian Court of Cassation Trend Towards Fulfilling Equality in Employment Contracts
Author: Tasneem El-Nagar An employment contract shall fulfil equality, meaning that it shall protect both the employee and the employer. One of the major issues in this regard are cases where an employee is not fit in his/her position, resulting in a non-efficient work environment for the employer. In such...
Legal Framework of Green Hydrogen Energy in Egypt
Author: Ibrahim Shehata Natural Gas is currently the main source of hydrogen production; however, green hydrogen is gaining more and more momentum and might be replacing Natural Gas soon; at least partially. To define it, green hydrogen is a light and a highly reactive fuel, produced through the chemical process...
New FinTech Law in Egypt
Author: Ibrahim Shehata Shehata & Partners (“SP”) has prepared this brief comprising the key highlights of the new law on Non-Banking FinTech No. 5/2022 (the “Law”) which will be regulated under the umbrella of the Financial Regulatory Authority (“FRA”). SP Executive Summary SP has noted (10) core issues under the...
Renewable Energy Integration Fee | January 2022 Decree by EgyptERA
Author: Ibrahim Shehata After a long wait, EgyptERA has finally issued its decree on the 4th of January, 2022 to provide some clarity on the Renewable Integration Fee that has been previously referred to in 2020 without providing its exact amount. It has been announced by EgyptERA in January 2022...
International Trademark in the Eyes of Egyptian Courts | Recent Trends in December 2021
Author: Ibrahim Shehata & Obay Ashraf The Egyptian Court of Cassation has come out with two very decisions on the 28th of December of 2021 pertaining to the protection of trademarks in Egypt. In this regard, we try here at Shehata & Partners to synthesize both decisions and update the...