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Despite the GAFI’s objection; the office succeeded in passing resolution with dismissing managing shareholder without neither numerical majority nor approval of three quarters of the capital.

Badawy Law Office succeeded, implementing to the court ruling affirmed by the Court of Cassation, in imposing a garnishments, in favor of one of its Austrian client, on the shares of BLOM Bank registered on the Egyptian Stock Exchange outside the cabin, and in imposing a garnishment on such bank’s money at the Central Bank of Egypt within the limits of the amount ordered which exceeds amount equivalents in Egyptian currency 60 million pounds.

A commentary to the guarantee provided by article (3) of the Egypt’s new investment law no. 72 of 2017: by the same law article that emphasizes on the investment’s non-subjection to any decision carrying discrimination, the legislator adopts the possibility of granting the foreign investor special privilege in treatment under reciprocity … although, this implies inadmissible discrimination against the national investor, it contains reasonable exaggeration to reassure the foreign investment.

The new Investment Law no. 72 of 2017 distinguished among four of the investment systems; the internal investment system, the investment zones system, the technological zones system, and the free zones system. The distinguish point is obviously represented on that the incentives allocated to the first three systems are different and less than the incentives granted to the last system called “the free zones system”. Such last system that kept, under the new law, the same privileges that were adopted under the previous law, representing on exempting its goods whether exported to or imported from abroad from the customs, added value tax, and the other taxes and charges.
By issuing law no. 7 of 2017, the import regulation in Egypt has been amended from many aspects. The most important of all those aspects are represented in requiring a business volume of 5.000.000 LE which must be reached by each company working/will work in importation and must be proved by the company’s tax declaration, in requiring a minimum capital of 2.000.000 LE for the Limited Liability Companies or 5.000.000 LE for the Joint Stock Companies,