The Legal 500

Overview

Entry into the Algerian market has been heavily restricted as a result of the increase in control over foreign investment, whereby, for instance, the government has a right of first refusal on the sale or transfer of any foreign company and foreign investors are obliged to finance projects through local banks after its initial contribution. The 51%- 49% rule has remained intact by virtue of the 2010 Finance Act, assisting the government in its aim to retain much of the capital benefit deriving from business activity in Algeria, particularly from its wealth of natural resources.

The legal market has had to adapt to meet the needs of clients who are affected by these changes. A reduction in foreign investment has seen a simultaneous growth in local development.

While the jurisdiction has Algerian, US, French, Tunisian and UK law firms operating to service the needs of global and domestic interests in Algeria, only lawyers admitted to one of Algeria’s 11 Bar associations are able to practice as an advocate and set up a full-service law firm. Sonatrach and Sonelgaz remain major drivers in the Algerian economy, with many former employees being prominent senior lawyers in the jurisdiction.

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