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Bulgaria: New Law Allows Acquiring Citizenship in Exchange for Investments

(May 24, 2021) On March 5, 2021, the president of the Republic of Bulgaria, Rumen Radev, signed into law Decree No. 80 on Amendments to the Law on Foreigners in the Republic of Bulgaria and Decree No. 81 of the President of the Republic of Bulgaria on the Amendments and Additions to the Law on […]

Oman: New Basic Law Issued Creating a Mechanism for Appointing a Crown Prince

(Feb. 4, 2021) On January 12, 2021, Haitham bin Tariq, the sultan of Oman, issued Royal Decree No. 6/2021 on the Basic Law of the State, which establishes a new mechanism for appointing a crown prince and abrogates Royal Decree No. 96/101 on the Basic Law of the State. Content of Royal Decree No. 6/2021 […]

Ecuador: Humanitarian Support Law Enacted to Address COVID-19 Economic Emergency

(Sept. 21, 2020) The Organic Law on Humanitarian Support, enacted on June 22, 2020, declares COVID-19 an economic emergency in Ecuador and seeks to mitigate the health, economic, and social crises it has caused. The Law includes a provision on the termination of employment relationships due to unforeseeable circumstances or a force majeure. Other key […]

Italy: Supreme Court of Cassation Addresses Required Evidence in Corporate Shareholder Claims

(May 12, 2020) On February 19, 2020, the Italian Supreme Court of Cassation (SCC) clarified the evidence a corporate shareholder must present to prove a claim for repayment from the corporation. (Decision No. 4261 of February 19, 2020 (Decision).) Background of the Case The SCC reviewed a case submitted by the Appellate Court of Lecce, […]

Oman: New Foreign Capital Investment Law Comes into Force

(Apr. 13, 2020) On January 1, 2020, the Foreign Capital Investment Law came into force in the Sultanate of Oman. This law, which had been promulgated on July 1, 2019, with the issuance of Royal Decree No. 50/2019 by the Sultan of Oman, regulates direct foreign investment in the Sultanate with the aim of providing […]

Saudi Arabia: Cabinet Issues New Law on Commercial Franchise

(Mar. 5, 2020) In October 2019, the Saudi Cabinet approved the Commercial Franchise Law of 24/2/1441 (Hijri, corresponding to October 23, 2019). The new Law is the first in the kingdom to govern the relationship between a franchisee and a franchisor in a comprehensive manner in accordance with international best practices. The Law regulates (1) […]

Egypt: Parliament Approves Draft Law Allowing Foreign Investors to Acquire Egyptian Citizenship

(July 31, 2019) On June 10, 2019, the National Defense and Security Committee of the Egyptian Parliament approved a draft law amending the Citizenship Law—Law No. 26 of 1975. The new amendment aims at attracting foreign investors to reside in Egypt. The bill will now be debated among members of Parliament and put to a […]

Saudi Arabia: Parliament Approves New Type of Residency Permit to Promote Foreign Investments

(July 16, 2019) On May 15, 2019, Saudi Arabia’s Consultative Council approved a law establishing a new residency system to enable investors to reside in the country. Following parliamentary approval, the new law was referred on the same day to the Saudi cabinet—the Council of Ministers—which approved the law after reviewing the Consultative Council’s decision […]

Qatar: Draft Law to Enhance Real Estate Sector Approved

(June 12, 2019) On May 30, 2019, the cabinet of the State of Qatar approved a draft law on real estate development to strengthen the real estate market. (Cabinet Approves Draft Law on Regulating Real Estate Development, THE PENINSULA (May 30, 2019).) The draft law amends Law No. 6 of 2014, which regulates the granting […]

Italy: Legislation in the Event of Brexit Takes Effect

(May 21, 2019) On March 23, 2019, new legislation addressing the potential effects of Brexit entered into force in Italy. (Decree-Law No. 22 of March 25, 2019, Urgent Measures to Ensure Safety, Financial Stability and the Integrity of Markets as well as the Protection of the Health and Freedom of Residence of Italian Citizens and […]