Saudi Arabia Amends Labor Law Executive Regulations

Saudi Arabia recently amended the executive regulations to its labor law. The new amendments make it easier for expatriate workers to change their employment status. Originally, foreign workers had to respect the mandatory one-year minimum period of employment with a single employer before being permitted to seek alternative employment. Now, expats can switch employers during […]


Implementation of ACI Customs System to Start on October 1st

Egypt is updating its IT infrastructure and promoting integration of global blockchain technology through the implementation of the Advance Cargo Information System (ACI). The most recent amendments to the Customs Law require all importers to register with the ACI. The ACI will screen imported goods prior to their arrival at an Egyptian Customs point of […]


Ministry of Finance Issues Capital Gains Tax Guidelines

The Ministry of Finance recently issued Decree no. 428/2021, which contains guidelines for the application of capital gains taxes for securities transactions. Capital gains taxes are already governed by Income Tax Law no. 91/2005 and its Executive Regulations. The objective of the latest guidelines is to provide a framework for how capital gains taxes will […]


Citizenship By Investment

الأن يمكنك للأجانب الحصول على الجنسية المصرية في خلال 6 شهور فقط مقابل الإستثمار. :هناك عدة برامج إستثمارية متاحة للإختيار فيما بينهم إيداع مبلغ 250 ألف دولار أمريكي بموجب تحويل بنكى من الخارج ، كايرادات مباشرة تؤول إلى الخزانة العامة للدولة ولا يرد. ربط وديعة بالبنك المركزي المصري بمبلغ 750 ألف دولار أمريكي بموجب تحويل […]

Hegazy Sukuk Transaction

Newsletter: Highlight on Sukuk Regulations

–  Prime Minister’s Decree No. 17 of 2018 was promulgated on 14 March 2018 and entered into effect on 15 March 2020 to amend particular provisions of the Capital Market Law No. 95 of 1992 (“Capital Market Law”), including detailed provisions for Sukuk (“Sukuk”) whereby followed by many decisions issued by the Board of Directors […]


Client Alert: Is COVID-19 Force Majeure?

The global pandemic (COVID-19) is having a severe impact on commercial activities all over the world. This is leading governments to take stringent measures to address the virus’s effects on public health and the global economy. Force majeure is a legal recourse for parties to a contract who are unable to fulfill their obligations due […]

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