In business disputes, one frequent concern is the risk that a party might attempt to dissipate assets by selling, transferring, or concealing them to avoid the enforcement of a potential judgment. To safeguard against this, the courts in the Dubai International Financial Centre (“DIFC”) and Abu Dhabi Global Market (“ADGM”)...
On May 3, 2025, the New Egyptian Labor Law No. 14 for the year 2025 was published in the Egyptian Official Gazette (the “New Labor Law”), replacing the long-standing Labor Law No. 12 of 2003 (the “Previous Labor Law”). The New Labor Law will enter into force at the beginning...
On 12 February 2025, Egypt introduced Laws No. 5, 6, and 7 of 2025, implementing key tax reforms to encourage voluntary registration, provide tax incentives for businesses with annual revenue up to EGP 20M, and amend tax procedures. The laws came into effect on 13 February 2025 (Effective Date). We...
The Real Estate and Commercial Affairs Sector of the New Urban Communities Authority (“NUCA”) issued a notice to the Western North Coast Development Authority regarding land ownership and development within Egypt’s Western North Coast region, pursuant to Presidential Decree №. 361 of 2020. Key provisions:1. Acts of Disposal and Transfer of...
On 29 June 2024, the General Assembly for Advisory and Legislation Divisions at the State Council (the “General Assembly”) issued a landmark opinion (the “Opinion”) exempting hotels and touristic establishments from contributing to the Ministry of Manpower Vocational Training Fund(the “Vocational Training Fund”). The recent developments indicate that hotels and...
Cairo, Egypt We are pleased to announce that Matouk Bassiouny & Hennawy (“MBH”) Arbitration Group has successfully secured a favorable ad-hoc arbitral award in an arbitration hosted by CRCICA for one of the largest master developers in the Red Sea. The case consisted of a claim of nearly USD 11...
On 23rd November 2023, a new decree no. 23-429 was issued, establishing a public register of the Ultimate Beneficial Owner(s) ("UBO"). The register of beneficial owners shall be established at the national center of the commercial register containing information on the UBO through a public database in which data and...
We would like to announce that today, 8 April 2024, the Egyptian Gazette published the National Wage Council Decree number 27 for the year 2024 increasing the minimum monthly wage of private sector employees to EGP 6,000 (six thousand Egyptian Pounds) effective as of 1st of May 2024. Establishments encountering...
We would like to announce that the amendments of the executive regulation of the Egyptian Competition Law no. 3 of the year 2005 (“ECL”), which implement the Egyptian pre-closing merger control regime (“Merger Control Regime” or “MCR”) has been officially enacted on 4th of April 2024 by virtue of the...
Dubai, UAE Key Takeaways: The Dubai International Financial Centre (DIFC) Courts provide a unique system to settle disputes efficiently and quickly through their Small Claims Tribunal (SCT), encouraging individuals and businesses to represent themselves without a lawyer. SCT handles claims under a specific threshold (AED 500,000, or AED 1 million...
