Procedures for release a tax lein in 2024 Per Executive Instructions No. (10) of 2024 issued by the Head of the Tax Authority and further to Executive Instructions No. (21) and (28) of 2023 concerning the mechanisms for lifting the seizures, The Tax Authority decided to extend the implementation of Executive Instructions No. (28) of...
Financial Technology companies practicing non-banking finance activities The establishment of Fintech companies practicing non-banking finance activities is an important path in the modern business world, as the technological sector is witnessing rapid growth and radical changes in the way financial services are provided. This type of company is characterized by employing modern technology, such as...
Incentives for Green Hydrogen and Its Derivatives Production Projects Law No. 2 of 2024, approved a comprehensive package of incentives, exemptions, and guarantees for projects to produce green hydrogen and its derivatives and their expansions. The most important of these incentives is a cash investment incentive called the “Green Hydrogen Incentive.” The enjoyment of these...
The Premium Residencyin Saudi Arabia The Center also announced the launch of 5 new Premium Residency products, including Special Talent, Gifted, Investor, Entrepreneur, and Real Estate Owner. The Premium Residency Center was founded in January 2019, per the Council of Ministers’ resolution, to draw in highly skilled individuals and investors to contribute to Saudi...
The Cairo Regional Centre for International Commercial Arbitration Rules 2024 On 15 January 2024, the Cairo Regional Centre for International Commercial Arbitration Rules will enter into force based on UNCITRAL Arbitration Rules as amended in 2010, 2013, and 2021 to be compatible with institutional arbitration frameworks and the results of the Centre’s decades of...
Regulation of residence of foreigners in Egypt Egypt grants residence permits to foreigners on its territory for various reasons and different periods of residence starting from one month to ten years. The types of foreigners’ residences in Egypt are numerous and their respective requirements vary. The Director of General Administration of Passports, immigration, and...
A new development within the Dubai International Arbitration Centre On October 10th, 2023, the Dubai International Arbitration Centre officially announced the establishment of Mediation Rules. This proactive step by the Center aims to provide best practices in alternative dispute resolution, maximizing the unique features and capabilities of mediation that align with the evolving business landscape...
UAE Arbitration Law updates The United Arab Emirates recently published a new Federal decree-law No. 15 of 2023. Amending provisions of Federal Arbitration Act No. 6 of 2018. The amendment introduced some important changes to the arbitration system in the United Arab Emirates, with the aim of enhancing its efficiency, flexibility, and attractiveness to...
ICC panel decides Algerian rail dispute An Algerian state agency Anesrif has reportedly defeated the bulk of a €200 million ICC claim brought by Spanish construction group OHLA over a railway project. In 2019 the Spanish construction group Obrascón Huarte Lain (OHL) has pursue a €140 million arbitration against Algerian state railway investments agency Anesrif over a railway project that began in...
A mutual recognition of judgments between EU and Ukraine started from the 1st of September 23 under Hague Convention The Convention of 2 July 2019 on the Recognition and Enforcement of Foreign Judgments in Civil or Commercial Matters. The Contracting Parties to the present Convention are, desiring to promote effective access to justice for all...
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