This chapter introduces the reader to the different aspects of the legal system in Tunisia, in partnership with Meziou Knani & Khlif. It also contains a viewpoint with Ghazi Meziou, Associate Lawyer, Meziou Knani & Khlif.…
Viewpoint:Ghazi Meziou Adopted by Parliament in April 2019, Law No. 47 of 2019, also known as the Transversal Law, aims to improve the business environment in Tunisia. This law is seen as part of a wider comprehensive investment framework reform that started in 2016 with the promulgation of the New Investment Law. The Transversal Law includes a set of modifications to several laws currently…
Designed as a replacement for the former business register, the National Business Register (Registre National des Entreprises, RNE) Law No. 52 of 2018 passed on September 29 and was implemented on February 6, 2019. The reform has multiple objectives. First, it seeks to simplify procedures and shorten the time needed to set up a company, permanent establishment or economic interest group. Second, it…
Legislators in Tunisia have a habit of crafting laws that cannot be implemented until additional decrees are passed at a later date. Several articles of the Investment Law No. 71 of 2016 were limited to stating principles, while the concrete modalities needed to bring about actual legal change were to be included in succeeding decrees. Specifically, this is the case for Article 4 of the investment…
Tunisia is the smallest country in North Africa with an area of 163,610 sq km and is also the northernmost country in Africa. It borders Algeria to the west, Libya to the south and east, and the Mediterranean Sea to the north. With over 1000 km of coastline, it has a strong tradition of commerce and openness to the wider Mediterranean region. The country also holds a strategic position as a bridge
The Tunis Stock Exchange (Bourse des Valeurs Mobilières de Tunis, BVMT) was created in February 1969 and as of April 2018 listed 81 companies. Stock exchange regulations were significantly revised by Act No. 117 of 1994, which reorganised the financial market. This law was accompanied by other legislative measures, including regulatory changes to the public prosecutor’s office and the Financial…
Viewpoint:Ghazi Meziou Since the conclusion of the 2011 Jasmine revolution, Tunisia has carried out several major reforms, including the adoption of a new constitution, the freeing of the press, the implementation of new banking regulations and an overhaul of the legal framework for investment, among others. Several additional legislative projects are under way at various stages of development,…
No major economic legislation was established in 2017 as policymakers remained focused on completing the implementation of a new investment framework, which was enacted on April 1, 2017 with the New Investment Law. Under the old framework, foreign investment was subject to government authorisation. There were, however, broad exceptions to this principle, and a list of areas open to foreign investment…
Appointed in August 2016 as the head of a new national unity government, Prime Minister Youssef Chahed in early 2018 announced a series of reforms which sparked protests across the country. In response, the IMF, which continues to work with the government under its four-year, $2.9bn extended fund facility arrangement, stated that the reform agenda of 2018 was ambitious and should contribute to set
This chapter introduces the reader to the different aspects of the legal system in Tunisia, in partnership with Meziou Knani & Khlif. It also contains a viewpoint with Ghazi Meziou, Associate Lawyer, Meziou Knani & Khlif.…
