As part of an international law firm, we understand pressures on manufacturers created by Arab boycott regulations and U.S. or European anti-boycott laws. Challenge: A Fortune 100 manufacturer encountered boycott-related disclosure requirements in a number of North African and Gulf Cooperation Council (GCC) countries. Like many other manufacturers who export internationally, it simultaneously had to […]
Tax rates under the new law are as follows: Annual Income Tax Rate Up to LE 6,500 Tax exempt LE 6,500 up to LE 30,000 10% LE 30,000 up to LE 45,000 15% LE 45,000 up to LE 200,000 20% LE 200,000 22.5% In general, dividends distributed by corporations and partnerships, including companies established under special economic […]
The Saudi Arabian General Investment Authority (SAGIA) recently introduced new online services, through which an Investor can apply for an investment license online. This will spare a lot of time, effort and cost for the Investor and expedite the acquisition of an investment license. One of SAGIA’s new services is the Special Track application process, […]
This month, the World Bank Group’s Global Islamic Finance Development Center (GIFDC) launched its Annual Symposium on Islamic Economics and Finance in Istanbul. Experts from all around the world discussed the role of Islamic finance in the global economy. It was aimed at promoting the exchange and advancement of ideas and reinforcing innovation in Islamic […]
After two major scandals in Egypt in one week, the government has taken actions to curb corruption both inside and outside the public sector. First the public prosecutor has moved to investigate the alleged embezzlement of former Agriculture Minister Salah El-Din Mahmoud. Second, the Egyptian government is actively responding to the robbery of dozens of […]
Changes to the Companies Law in the UAE: In an attempt to harmonize its legal framework with international norms, the UAE government issued Federal Law no. 2 of 2015 concerning Commercial Companies. Find out what this means for your business. CLIENT ALERT: UAE Introduces New Commercial Companies Law In an attempt to harmonize its legal framework […]
Challenge: One of the prominent Islamic banks in the region was the lead arranger for an Egyptian oil services company. The oil services company needed to refinance its medium term growth capital, and the bank sought a way to use new, post-2011 Egyptian law to incorporate Islamic finance. The bank brought in Hegazy & Partners as […]
Challenge: A leading hospitality provider and its affiliates have operated for decades in Egypt. This combination of one of the world’s leading hospitality providers and one of the world’s premier travel destinations means that this provider needs constant legal assistance to support its ongoing business activities. Solution: Inspired by how our client serves its guests, […]
Challenge: A company, which is part of a large industrial conglomerate, specializing in the design, engineering, assembly and sales of power generation systems required legal advice and assistance under Algerian law in bidding for a major government contract. At the same time, the client needed to be prepared to engage in a joint venture with […]
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