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Here is How You Can Incorporate A Company in Egypt

 

Every aspiring investor swhether foreign or local has open chances to incorporate a company in Egypt hassle free. All you have to do is have your documents right to begin the process. In Egypt, business entities may possess either permanent presence as Limited Liability Company and Joint Stock Company or short-lived presence as Foreign Branch Offices and Foreign Representative Offices.

For you to incorporate a company in Egypt and you feel you can’t undertake the process alone, you can employ the services of professional agencies. In Egypt, the most common business structure preferred by foreigners is Limited Liability Company and Joint Stock Company. The reasons may vary from one person to another, but the fact is that in both one can own the company 100 percent. The only thing that one should ensure is to have a minimum of one general director who is an Egyptian national.

 

How to Register a Company in Egypt

Some of the typical requirements for you to incorporate a company in Egypt may include the following in case of a Limited Liability Company: (i) no minimum Egyptian shareholding needed but with a maximum of 50 shareholders, (ii) at least one manager who’s an Egyptian resident among others. For a Joint Stock Company, you must register with the Commercial Register at the General Authority for Investment and Free Zones (GAFI). Under this structure, the majority of the directors must be Egyptian nationals and own a specific number of shares deposited on the bank account.

By having minimum share capital of EGP 1,000, you’re eligible to incorporate a company in Egypt, and at the Commercial Registry Office, you can submit your application, a notification from GAFI and the prime Article of Association. This process may take approximately 2 weeks after submission of your application documents. Note that upon completion of the incorporation, your next move is registration of tax obligation. Every company is obliged to register for tax registration using documents including Articles of Association, the power of attorney, an original extract from the company’s commercial register, the tax card among others.

 

Special Requirements for Company Formation in Egypt

Limited Liability Company:

• No minimum Egyptian shareholding is required, but a maximum of 50 shareholders.
• At least one director is a resident of Egypt etc.

AG:

• Must be registered with the Commercial Register of the General Directorate for Investments and Free Zones (GAFI). With this business structure chosen, the majority of directors must be Egyptian nationals with a specified number of shares deposited into a bank account.

Employed Staff:

• Every company needs to register its employees with the National Social Insurance Agency, and employees are thus given a unique social insurance ID to cover their health and work-related injuries.

Company Address:

• Finally, you need to find a suitable office address for the company to facilitate government departments to visit at any time and accept official letters.

To Set Up a Representative Office:

• For foreign investors who wish to set up a representative office of a foreign business in Egypt, they must ensure registration with the Register of Foreign Representative Offices under the Ministry of Economy and Foreign Trade (MEFT). One thing you should note is that the activity of a representative office is checked by GAFI for compliance.

 

Please note that before you decide to set up a company in Egypt, you must first understand the rules and regulations related to company registration. For more information, please contact us, 3E Accounting will provide you with the best service.