Presentation of our service : Forex and Exchange control regulations
Fares group has a dedicated team of specialist foreign exchange (Forex) litigation lawyers specialising in assisting clients in Algeria and Libya to regain their money lost in fraudulent investment scams.
Our specialists accompany you in the increase in capital, transfer of shares, dividends and price and capital gains.
The Algerian exchange regulations put strict limits on the movement of funds between Algeria and abroad in the aim of maintaining its balance-of-payments equilibrium.
One of the basic principles of Algeria’s exchange regulations is the non-convertibility of the national currency (Dinar). Thus, foreign exchange regulations have been introduced to limit the flows of capital from Algeria to abroad.
In this context, Fares Group Law Firm is pleased to clarify you cases of foreign assets held by Algerian residents.
“An Algerian residing in Algeria and wishing to have assets abroad based on his activity in Algeria”
In the case of an Algerian resident operating a business activity in Algeria and willing to transfer part of his income abroad for the purpose of acquiring goods or to transfer them into a foreign currency account held abroad, Article 126 of the order 03-11 of August 26, 2003 on money and credit, as amended and supplemented, strictly prohibits residents from creating any assets, whether real-estate, movable, fiduciary or banking assets on the basis of funding deriving from Algeria unless authorized by the Bank of Algeria. Such an authorization that the latter grants only very rarely and in the case of investments abroad.
As such, in order to clarify the regulatory provisions regarding the ownership of assets abroad by residents, the Algerian Central Bank published on February 3, 2007 a limitation rule applicable to current cross_border transactions and to foreign currency accounts, which is the regulation 07-01 of February 3, 2007.
Transfer of dividends
Only businesses engaged in the production of goods and services are eligible for the transfer of dividends. The payment of dividends is regulated and may in certain cases require the prior agreement of the Bank of Algeria.
If the activity is mixed, only the part relative to production in the overall activity gives right to the payment of dividends. This case shall be subject to the approval of the Bank of Algeria.
Our multisectorial lawyers will take charge of the issue and help you through the whole process from conceiving your business plan to transfer.
Transfer of shares and the pre-emptive rights
Transfer of shares is possible and Fares Group Law Firm will provide you with the support to achieve it. However, when it is purchased for resale in the same condition activity, it must be, first, subject to the discretionary examination of the Bank of Algeria.
It should be noted that the State can exercise a pre-emptive right on all transfers of equity shares in the share capital of a company.
Transfer pricing :
- We engineer transfer pricing policies and flow structuring operations within groups, adapted to the situation of each company, for both day-to-day and extraordinary operations;
- We undertake economic analysis to allow for rationale compensation of flows (research for comparables, analysis of profit distribution) or intra-group transfer of assets (assessment) ;
- We constitute a documentary to allow for policy justification according to Algerian rules as well as compliance work;
- We manage the relationship with the administration in tax checks or international procedures (mutual agreement procedures or prior transfer pricing agreements).
Protect your trademark
What is the procedure to protect your trademark in Algeria ? How much does it cost ? How to know your sign complies with trademark rights ?
What is the procedure to protect your trademark in Algeria ?
Create an account on the website of the National Algerian Institute for Industrial Property (INAPI) ;
Choosing your place of deposit, where you will have to send the request forms duly completed.
Perform payment of deposit fees by check directly to INAPI. In case you are not located in Algeria, you are obliged to be represented by an agent, a lawyer for instance.
If your request is considered admissible, you will receive a copy of your registration request as well as a payment receipt. This will allow you to assert your rights in the event of a dispute. In fact, registering your trademark allows you to benefit from a monopoly on the exploitation of your trademark. If someone else uses or copies your brand without your permission, then you can take legal action.
Warning ! It is important to register your trademark in the Latin alphabet and in Arabic. If you only deposit one or the other version, that version will be protected and someone else may register the translation of your sign.
It is also possible to protect your trademark in Algeria through the simplified procedure of the PMOI. This solution is preferred if you want to benefit from an operating monopoly within several countries.
How to know your sign complies with trademark rights ?
Your submitted file will be reviewed by INAPI. Therefore prior to sending, you must ensure that your brand is in line with trademark law.
First of all, your trademark must be distinctive. This means that it is not allowed to register a sign that is a mere description of the products or services to be commercialized. You also cannot submit a translation of a generic or commonly used word. An arbitrary sign should be found.
Next, your brand must be lawful. It is therefore important that your sign complies with the algerian legislations in effect in Algeria, as well as the Algerian public policy in general.
Finally, it is important to verify that your sign is available. If your sign is already in use or if it risks being confused with another sign already in use, the proprietor of the prior brand shall be able to oppose your trademark application.
It is necessary to have a solid knowledge of trademark law to be sure that you have the right to protect your trademark in Algeria. A lawyer takes care of all the checks for you. You avoid having your application for protection refused or having your deposit objected to.
How much does it cost to protect your trademark in Algeria ?
If you choose to file your trademark application at the INAPI, the price ranges between 1400 ( 10 €) and 1500 DZD (11 €) depending on whether it is a black and white or colour image filing. You will have to pay 2000 DZD (15 €) for each additional class. You must refer to the Nice Classification to identify your deposit classes.
After 10 years, your trademark should be renewed against payment of filing fees again.
You also have to take into consideration the ancillary costs associated with filing. It is highly recommended that you have a search for prior trademarks done by a professional before applying for registration.
Broadly speaking, a lawyer can assist in performing all procedures. Our lawyers can assist you, in particular as to the choice of the most relevant deposit classes according to your needs. You thus ensure optimal protection of your brand.
“I would highly recommend Fares Group Law Firm. Very professional people. »
P.R. FALCO, Menarini Farmaceutica Internazionale S.r.l – Italy
“We enjoyed working with our firm, and thank you once again for the services provided. »
Pauline ZEMMERMAN, General Manager, KLAXIOUS – Switzerland
“it’s important to have a liable partner. we woked with Fares Group and I am sure we will work with them again.”
Salvatore AlOISIO, head of project management, ABB – Italy