1. Save for foreign companies licensed to operate in free zones in the State, foreign companies may not conduct any operations in the State or set up an office or branch therein without having been issued an appropriate license by the Competent Authority with the approval of the Ministry listing the activities for which the Company has been licensed. 2. If a foreign Company or its office or branch conducts operations in the State prior to completion of the formalities set out in this Decree Law, the persons conducting such operations shall be jointly and severally liable therefor.
Interpretation and application must be checked against the official text and current version.