Highlights On 29 October 2023, Egypt issued Law No. 173 of 2023 (the “Law”), providing exemptions from certain provisions outlined in the Importers’ Register Law No. 121 of 1982 (the “Importers’ Register Law”) for companies with less than 51% (fifty-one per cent) ownership by Egyptians or no ownership by Egyptians. The Law represents a […]

ADSERO - Ragy Soliman & Partners is proud to announce that we have acted as the Egyptian Local Counsel to the Egyptian Ministry of Finance (MOF) in the first-ever issuance of RMB-denominated bonds (“Panda Bonds”) in the Chinese market at 3.5 billion Renminbi, equivalent to approximately USD 500 million. Accordingly, the sale makes Egypt the […]

ADSERO - Ragy Soliman & Partners is proud to announce that we have acted as the Egyptian Local Counsel to the Egyptian Ministry of Finance (MOF) in the second issuance of the YEN-denominated bonds (“Samurai Bonds”) in the Japanese market at 75 billion Japanese YEN, equivalent to approximately USD 500 million. Our team was led by Hossam Gramon, […]

We are delighted to share that we have won Debt - Equity Deal of the Year presented by IFLR Awards Middle East. This is a testament to the unwavering dedication, resilience, and hard work of our truly exceptional team! About the deal: ADSERO represented the Ministry of Finance in Egypt (MOF) as local Egyptian counsel with regards to […]

Highlights In the spirit of government-led reforms in Egyptian legislation, a significant legal development occurred on 6 August 2023, with the issuance of Law No. 163 of 2023 (the “Law”), establishing the Egyptian Authority for Intellectual Property (“EAIP”). EAIP shall report directly to the Prime Minister and will have jurisdiction over all matters related to […]

ADSERO - Ragy Soliman & Partners is delighted to announce the promotion of several talented individuals to the firm’s partnership. These promotions reflect our commitment to nurturing talent and fostering professional growth, which enables us to deliver outstanding legal services to our clients. As our firm continues to expand its presence in the legal industry, […]

Highlights On 15 June 2023, Law No. 30 of 2023 (the “Law”) was issued, introducing significant amendments (the “Amendments”) to the following tax legislations: Law No. 91 of 2005 regarding the income tax; and Law No. 182 of 2020 regarding the abolishment of the exemptions on income tax granted on the yields of treasury bills […]

Highlights On 25 July 2023, Law No. 160 of 2023 was issued, introducing significant changes (the “Amendment”) to Law No. 72 of 2017, issuing the Investment Law (the “Investment Law”). The Amendment, which entered into force the following day, on 26 July 2023, primarily concerns the general investment incentives and adds special incentives that investment […]

We are pleased to share our latest report highlighting the laws and decrees issued in the second quarter of 2023. To access the report, click on the attachment below. If you are interested in acquiring a copy of the legislation and keen on remaining up to date with the most recent laws and decrees, sign […]

The Egyptian Financial Regulatory Authority (FRA) has delivered on its mandate to invigorate the non-banking financial services industry by issuing three core decrees regulating e-contracts, digital identity and e-KYCs, and digital security requirements. Throughout this publication, our team of legal experts in fintech explore the various aspects of the new regulatory regime's vision. The contributors […]

In a major step towards digital transformation, the Central Bank of Egypt issued a circular on 12 July 2023 regulating the licensing, registration, and supervision of Digital Banks in Egypt. The Circular is issued in conformity with the CBE’s long-standing financial technology transformation and innovation agendas. It is expected to alter the Egyptian banking landscape […]

We are thrilled to announce that ADSERO has been certified as a scheme member recognised by The Law Society of England and Wales for the third consecutive year. In addition, ADSERO remains the only firm in the MENA region awarded the Lexcel accreditation. The Law Society is the independent professional body for solicitors. Lexcel is their legal […]

We are pleased to share our most recent report highlighting the critical decisions the Board of Directors issued by the Financial Regulatory Authority (FRA) during the first half of 2023. To access the first issue, click on the attachment below.  

Introduction The Senate initially approved a new draft of the labour law, to be issued soon, entirely replacing the current labour law no. 12 of 2003 (the “Draft Law”).   Overview This alert briefly sheds light on the key revisions introduced to the Draft Law by the Senate compared to the previously published draft (earlier […]

Amendments to the Executive Regulations of the Customs Law The MoF issued the following Decrees introducing amendments to the ER of the Customs Law, issued by virtue of the MoF Decree No. 430 of 2021: 1. Decree No. 209 of 2023 (the “Decree”) Issuance Date: 19 April 2023. Purpose: The Decree has added new provisions to […]