ANNOUNCEMENT 02 Sep 2015
On 02 September 2015, the government of Egypt via Law 95/2015 introduced several amendments to the Decree 14/2012 on the Integrated Development of the Sinai Peninsula.
The introduced amendments ease the restrictions on foreign investors that are interested in acquiring land rights within Sinai Peninsula.
NUMBER OF INTERVENTIONS
Law 95/2015 (in Arabic)
On 02 September 2015, the government of Egypt introduced Law 95/2015. This Law was introduced with the scope of amending Decree 14/2012 on the Integrated Development of the Sinai Peninsula.
The newly introduced amendments grant the President the right (pending upon the approval of the security agencies) to exempt specific entities that are operating in integrated development areas from the statutory percentage of foreign ownership which states that parties classified as foreigners are allowed to maximum own 45% of any institution in the Sinai Peninsula. Therefore, resulting in liberalising the overall foreign ownership rights in the region of Sinai.