Forex and exchange control regulations
Fares Group has a dedicated team of lawyers specialized in foreign exchange (Forex) litigation, who help clients in Algeria and Libya recover their money lost in investment scams.
Our specialists assist you in capital increase, share transfer, dividends and price and capital gains.
Capital transfer
The Algerian foreign exchange regulations impose strict limits on the movement of funds between Algeria and foreign countries in order to maintain a balance of payments.
One of the basic principles of the Algerian exchange regulations is the non-convertibility of the national currency (Dinar). Thus, foreign exchange regulations were put in place to limit capital flows from Algeria to foreign countries.
In this context, Fares Group Law Firm is pleased to advise you on the cases of foreign assets held by Algerian residents.
"An Algerian resident in Algeria and wishing to have assets based on his activity in Algeria
In the case of an Algerian resident exercising a business activity in Algeria and wishing to transfer part of his income abroad in order to acquire goods or to transfer them to a foreign currency account held abroad, Article 126 of Ordinance 03-11 of 26 August 2003 on money and credit, as amended and supplemented, strictly prohibits residents from creating any asset, whether real estate, movable, fiduciary or banking on the basis of financing from Algeria unless authorized by the Bank of Algeria. This authorization is granted only very rarely and only in the case of investments abroad.
In this regard, in order to clarify the regulatory provisions relating to the holding of assets abroad by residents, the Central Bank of Algeria published on February 3, 2007 a rule of limitation applicable to current cross-border transactions and foreign currency accounts, which is Regulation 07-01 of February 3, 2007.
Transfer of dividends
Only companies engaged in the production of goods and services are eligible for dividend transfers. The payment of dividends is regulated by and may in some cases require the prior approval of the Bank of Algeria.
If the activity is mixed, only the share of production in the overall activity is eligible for dividend payment. This case is subject to the approval of the Bank of Algeria.
Our multi-sectorial lawyers take charge of the file and accompany you throughout the process, from the conception of the business plan to the transfer.
Transfer of shares and the pre-emptive rights
The transfer of shares is possible and Fares Group Law Firm will provide you with the necessary support to realize it. However, when it is purchased to be resold in the same condition of activity, it must first be submitted to the discretionary examination of the Bank of Algeria.
It should be noted that the State can exercise a right of pre-emption on all transfers of shares in the capital of a company.
Transfer pricing:
We design transfer pricing policies and operations for structuring flows within groups, adapted to the situation of each company, both for current operations and for exceptional operations;
We carry out economic analyses to allow the rational compensation of flows (search for comparable, analysis of profit distribution) or the intra-group transfer of assets (valuation);
We constitute a documentary to allow the justification of the policy according to the Algerian rules as well as works of conformity;
We manage the relationship with the administration in the context of tax audits or international procedures (mutual agreement procedures or prior agreements on transfer pricing).
Protect your trademark
What is the procedure to protect a trademark in Algeria?
Create an account on the website of Institut National Algérien de la Propriété Industrielle (INAPI) (the Algerian National Institute of Industrial Property);
Choose your place of deposit, where you will have to send the duly completed application forms.
Pay the deposit fees by check directly to INAPI. If you are not located in Algeria, you must be represented by an agent, such as a lawyer.
If your application is deemed admissible, you will receive a copy of your registration application as well as a receipt of payment. This will enable you to assert your rights in the event of a dispute. Indeed, the registration of your trademark allows you to benefit from a monopoly on the exploitation of your trademark. If someone else uses or copies your trademark without your authorization, you can take legal action.
Be careful! It is important to register your trademark in the Latin alphabet and in Arabic. If you file only one or the other version, it will be protected and someone else can 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 to be preferred if you wish to benefit from a monopoly of exploitation in several countries.
How to know your sign complies with trademark rights?
How do you know if 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 goods or services to be marketed. Nor can you register a translation of a generic or commonly used word. You must find an arbitrary sign.
Then, your trademark must be legal. It is therefore important that your sign complies with the Algerian laws in force in Algeria, as well as with 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 is likely to be confused with another sign already in use, the owner of the earlier trademark may oppose your trademark application.
It is necessary to have a solid knowledge of trademark law to be sure to have the right to protect your trademark in Algeria. A lawyer will take care of all the verifications for you. You avoid that your application for protection is refused or that your filing is subject to an opposition.a
What is the cost of protecting your trademark in Algeria?
If you choose to register your trademark with INAPI, the price varies between 1400 (10 €) and 1500 DZD (11 €) depending on whether you are registering a black and white or color image. You will have to pay 2000 DZD (15 €) for each additional class. You must refer to the Nice Classification to identify your filing classes.
After 10 years, your trademark must be renewed upon payment of new filing fees.
You must also take into consideration the additional costs related to the filing. It is strongly recommended that you have a professional trademark search performed before applying for registration.
Generally speaking, a lawyer can help you with all the steps involved. Our attorneys can assist you, in particular, in the choice of the most relevant filing classes according to your needs. This will ensure that your trademark is optimally protected.