Book an appointment with us, or search the directory to find the right lawyer for you directly through the app.
Find out moreWelcome to the first edition of Law Update for 2025. As we begin this exciting year, we are pleased to turn our attention to one of the most dynamic sectors in the UAE and the broader GCC region – healthcare. Over the past several years, the region has seen unprecedented growth in this sector, driven by legislative advancements, technological innovations, and the increasing focus on sustainability and AI. As such, healthcare is set to be one of the most important sectors in the coming decade.
In this issue, we explore key themes that are significantly shaping the future of healthcare in the UAE, such as recent changes in foreign ownership laws. These reforms present a major opportunity for foreign investors, opening up new avenues for international collaborations and improving the overall healthcare infrastructure. The changes in ownership laws are an important milestone, and we provide an analysis of what this means for the industry and the various players involved.
Read NowNadine Khaled - Senior Counsel - Employment and Incentives
February 2017
In 2015, a presidential decree (Law No. 17 of 2015) (the ‘Presidential Decree’), amending provisions of existing laws including the Law of Investment Guarantees and Incentives (Law No. 8 for 1997) (the ‘Investment Law’), was enacted, unfortunately, without much impact on the economy or investment
Further, by the end of 2016, a new Egyptian investment law draft (the ‘Draft Law’) was being drafted. It plans to introduce new incentives for investors and is intended to replace the Investment Law.
The Draft Law aims to provide a clearer view and a better understanding, free from established misconceptions. It proposes to provide investment guarantees and incentives to investors, including foreigners. It aims to provide the investor with opportunities to advance their business by minimising the obstacles that currently exist. The Draft Law is being drafted mainly to foster a setting that would encourage foreign investment and remove difficulties that foreigners currently face when investing in Egypt.
Some of the additions currently included in the Draft Law are as follows. In cases where the disposition of the real estate properties is pursuant to usufruct authorisation against consideration, the authorisation is proposed to be for a period not exceeding 50 years, renewable according to the terms agreed upon so long as the project continues to operate. Such duration is proposed to be increased from 30 years under the current Investment Law.
Further, The Draft Law provides that the General Authority for Investment and Free Zones (‘GAFI’) controls the allocation of lands and follows up on the implementation of projects. Moreover, it prohibits the importation of hazardous substances and wastes into the free zones, whether the aim is to transfer them or dispose thereof in accordance with the Egyptian environmental law.
The Draft Law also proposes to require the competent authorities to review the investment applications submitted thereto through the investment window and verify the satisfaction of the conditions required for its acceptance, in the manner outlined in the Draft Law. The applications are to be decided on within a period not exceeding 60 days from the date of submission of the completed application.
It is expected that these amendments aiming to clarify the requirements for investment in Egypt, and the additions made to provide better investment opportunities, would encourage investors, whether local or foreign, to invest in Egypt. We see that the new additions and amendments to the Draft Law aim to widen the investment opportunities in Egypt, by removing previous obstacles and vagueness, and trust it will be undertaken to further promote investment opportunities in Egypt.
To learn more about our services and get the latest legal insights from across the Middle East and North Africa region, click on the link below.