The Legal 500

Algeria

Share this page

Editorial

Legal market overview

Algeria is an oil-rich country and although it has been hit hard by falling prices it is still the largest economy in North Africa. State-owned energy companies Sonatrach, which is by far the biggest company in Africa, and Sonelgaz are central to its economy. Lower oil prices led the government to drastically cut public spending and rein in imports by restricting import licences and to propose introducing customs duties on some products. President Abdelaziz Bouteflika also instigated plans to boost industry, agriculture and tourism with partnerships between state and the private sector.

Restrictions on foreign investment, notably the 49/51 rule limiting foreign ownership of any business entity to 49%, remain in place but some small changes to the country’s investment code show signs that change towards greater openness is slowly happening.

The legal market remains largely unchanged, although Benslimane Avocats & Conseils notably aligned itself with Eversheds LLP by joining the Eversheds Africa Law Institute. Dominant domestic firms such as Chemloul & Associés, Ghellal & Mekerba and Hamza Law Office, often partner with international firms on cross-border matters. Foreign firms that have built flows of work from the state or state-owned enterprises include Curtis, Mallet-Prevost, Colt & Mosle LLP, Shearman & Sterling LLP and now Quinn Emanuel Urquhart & Sullivan, LLP. Lefèvre Pelletier & associés, Gide Loyrette Nouel and CMS have office in Algiers, and Clifford Chance’s Casablanca and Paris offices are active in cross-border disputes and investments.

Press releases

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to

Legal Developments worldwide

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to

Press Releases worldwide

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to
  • OLG Frankfurt: Misleading advertising featuring corporate history

    If over the course of its history a company was split up, advertising featuring the company’s history may be misleading. That was the verdict of the OLG Frankfurt (Higher Regional Court of Frankfurt) in a recent ruling (6 U 167/14).
  • Gender Pay Gaps: The Latest Reporting Requirements

    On average, male employees are paid more than female employees. In 2015, men working full-time were paid approximately 9.4% more than women working full-time. As a result, the government is working to introduce measures with the aim of reducing this gap.
  • European Commission Recognises The Importance Of Crowdfunding

    It has been announced last week that the European Commission (EC) has published a report on the EU crowdfunding sector, as part of its Capital Markets Union Action Plan. In doing so, the EC has recognised the growing importance of crowdfunding platforms – websites that allow fundraisers to interact with investors and donors – for the improved economic growth and job creation in Europe. Despite being acknowledged as relatively small at this moment in time, its rapid development has been noted, and for that reason, efforts are being made for crowdfunding to be appropriately regulated en route to becoming one of the key sources of financing for small & medium sized enterprises in the future.
  • Pitmans acts on Westcoast’s acquisition of Art Systems Holdings Ltd

    Pitmans LLP has acted on behalf of its longstanding client, Westcoast (Holdings) Limited on its acquisition of Art Systems Holdings Limited.
  • Dubai Investors Take Ownership Of Porto Montenegro

    One of the biggest news reports in the region last week was the acquisition of Porto Montenegro , the luxury yacht marina located in Tivat, by the Investment Corporation of Dubai (ICD). The marina was handed over to the new owners during a press conference at the Regent Hotel, where the accompanying protocol was signed by ICD's Executive Director, Sheikh Mohammed Al Shaibani, and the CEO of the marina's previous owner – Adriatic Marinas, Oliver Corlette. The conference was also attended by the Montenegrin Prime Minister, Milo Đukanović, and the Minister of Sustainable Development and Tourism, Branimir Gvozdenović.
  • Insolvency Update: Changes that take effect from April 2016

    The Department of Justice has issued a practice direction in connection with the new insolvency express trials pilot.
  • The Apprenticeship Levy

    Following last year’s autumn statement, HMRC has now published draft legislation which introduces the proposed new apprenticeship levy. The levy will have effect from 6 April 2017.
  • https://www.karanovic-nikolic.com/knnews/Pages/2016/04/28/Competition-Commission-Joins-Forces-with-t

    Another piece of news related to our competition team in Serbia are the recent signings of a Memorandum of Understanding and Agreement of Cooperation in the field of forensics between the Commission for the Protection of Competition and the Ministry of Internal Affairs (MIA).
  • Chinese Company To Invest In Bosnian Thermal Plant

    The Sarajevo Business Forum 2016 (SBF) was, among hosting a number of lectures and discussions, a platform for one of the largest post-war investments in the energy sector in Bosnia & Herzegovina (BiH). The reason for this can be found in the latest reports that an agreement was reached for the EUR 722 million construction of Thermal Power Plant Tuzla's Block 7 between Elektroprivreda BiH and the China Gezhouba Group Corporation , with the official MoU signing taking place on the first day of the SBF 2016. The project financier for the deal in question will be the Export Import Bank of China (EXIM), and the repayment period – together with a five-year grace period, is reported to be 15 years.
  • Karanović & Nikolić Attends Commission’s Anniversary

    ​Karanović & Nikolić attorneys were among the guests at the Republic of Serbia's Commission for the Protection of Competition's 10 year anniversary celebration, which also included an international conference on the topic of the law and policy of competition protection. The conference was opened by Deputy Prime Minister, Prof. Dr Kori Udovički, President of the Commission for Protection of Competition, Dr Miloje Obradović, President of the National Assembly's Committee for Economy, Regional Development, Trade, Tourism and Energy, Dr Aleksandra Tomić, and European Union Delegate, Steffen Hudolin.