Looking to set up my new company in Egypt

i know if you are not Egyptian you must have Egyptian partner unless you set up huge company with Millions Euros

amarakl, Thanks for your message. I hope I can receive more info from others so that I can make up my mind. Many thanks

Hi Nassman,

Welcome to Expatb log!

I wish you good luck in your search.

All the best,
Christine

I think this rule about an Egyptian partner is not a rule any more.

what I know is you need to deposit at-least 100 thousand LE in bank for the purpose of registration, this is the minimum amount required to show that you have enough cash flow to run the business. YES you will need a lawyer as you do not know the rules here secondly people do not speak english so in any case you will be needing a native to help you out. If you have already registered company in UK things will be easier on you as they do support a FreeZone office registration just like UAE offer and to my knowledge this type of back office registration rules are much easier normally take 4-5 working days and I think it exempt you from TAXATION to some extent. For more information please check this website gafinet.org/ ( check the english version of it )

Hope that should be of a little help!

Christina, Thanks for wishing me luck.
Geely, thanks for your input.
Alimirza, thats very helpful. many thanks.
Although I a not an Egyptian, I do speak the language but it is always better to know from people who are already in Egypt and specially if they have gone through the experience of setting up their own business.
Any more info would be much appreciated.
Thanks to all

Hey Nassman

I just opened one up recently. The info.  is somewhat correct. Here is the break down. You could open up with as little as 10,000le. You don't need an Egyptian partner.  You do have to give an attorney  POA. You can have 100% ownership. It took me about 10 days for mine. It took me a while to find a attorney that I could trust and I say that loosely. Sad to say but very true. I wouldn't say it unless I had first hand experience. Anyway good luck. Hope I helped.

Moe599, this is excellent news ad very encauraging. I really appreciate your help. as you have already have your own company, Can I ask you the type of company you have? 10,000 Egyptian Pounds seems very reasonable but is this the capital that I need to have in my bank account to start the company? and what is the fees you had to pay your lawyer? I am very sorry I am asking many questions but I am kind of struggling to find answers.
As stated in my first posting above I will be in Cairo on 11 until 17 December, is it possible to meet for you and discuss more?
Many thanks

here is the link to the American Chamber of Commerce in Egypt (Doing Business in Egypt): amcham.org.eg/resources_publications/trade_resources/dbe

But I don't think that now is a good time to start anything new in Egypt, considering the elections etc.

If I were You I would Waite for the political cloud to settle in Egypt first, consider that the business model in Egypt is more than likely going to change, most businesses were set up as a monopoly, I am hopeful the new model will show more enterprise based on lesser customs fees and give way to the entrepreneurs.

Take Care
Greg

Hello Nassman

Sorry for the late reply. I would have no problem meeting up with you. Just PM me when you get closer to your arrival.

Moe

[Moderated: no free ads on the forum please]

Nassman,
Actual too late to get your inquiries to start a business in Egypt
But if you need a kind of support
Please do not hesitated to drop me a line [email protected]


please check below web site to see our core business
ashrafglobal.net
looking forward to hearing from you

Kind Regards,
Ashraf

What are the required documents?
What are the procedures?
What data should be available in the Memorandum of Association?
What are the formal requirements of the Memorandum of Association?
What are the fees established?
What are the cases where the Committee for examining applications for the establishment of companies object to the establishment of the company and the terms of that?
When the company acquires legal personality?
What are the required documents?
1. Support of the Agency of all the founding partner of the agent (in case of an agent), including the right to establish companies and the ratification of the contract month mortgage. The founding attorney to issue an official founding of the Under Yuklonh in the establishment of companies and the ratification of the contract month mortgage. In the absence of an agent of the founders, the founders will have to come together in front of all the concerned authorities to take all the measures themselves.
The power of attorney must be provided on the right of power of attorney agent in others. If the founding residents out of Egypt, must be endorsed on the health of foreign notary seal on the power of attorney the Consular Section, Embassy of Arab Republic of Egypt in that country. Also be endorsed on the power of attorney after the Egyptian Foreign Ministry. In this case also, it is preferable to issue a power of attorney in both the foreign and Arab from the beginning (when it is released by the partners) in order to provide the time he needs to get certified translation in Egypt to ratify the power of attorney to the State Department. If there is a company within the partners and was named a foreign language, it must be Arabization (not translated) in the power of attorney and written name in both Arabic and English. For example, the name "Eagle for Tourism" expresses "Four Eagle Tourism" and not "Eagle Tours."
(One working day in case of power of attorney issued in Egypt, and 10-30 days of work in the event of issuing a power of attorney outside of Egypt).
2. A copy of identity card of the partners and managers (if they are Egyptians) images of birth certificates in the case of a palace or passports (in case of foreigners).
3. Title to or possession of the company's headquarters Sticky date and / or benefit allocated land for the project (to provide support or approval of the allocation within one year from date of registration in the commercial register). Establish procedures to see history, click here. (Two days work to prove the date).
4. Certificate of deposit function to the full value of shares a bank approved and licensed to do so (Article (17) of the Law on joint stock companies and companies limited by shares and limited liability companies No. 159 of 1981 and Article (73) of its executive regulations). See later the procedures for obtaining this certificate. (From 6 to 10 working days).
5. Queries are supported security in case of foreign partners or directors (individuals / companies). See later the procedures for obtaining this certificate. (One working day).
6. Certificate of no confusion brand name of the company. See later the procedures for obtaining this certificate. (One working day).
7. Letter of acceptance of appointment of the Director / managers.
8. Letter of acceptance of appointment by the observer of the accounts. Must be attached to this letter an extract from the register of auditors and accountants to the effect that the observer is in the record. Must have this record and the newly issued in the same year, which is the foundation.
9. In the case of capital increase of 200000 LE, it must be the company's legal adviser restricted schedules of Appeals Bar Association, at least. This should provide a photocopy of the Chancellor Carné union talk of his own. Are required to be Rnyh outstanding registration and valid to date and be signed photograph of lawyer and sealed Bouktmh in the case of the lawyer not to attend in person. He notes that do not have to work this year to hire a lawyer or pay any fees associated with him or his name and presence of any responsibility in the face or in the face of the company.
10. In case of entering a share in kind in the establishment of the company, the report of the expert professionals of the organization by law, according to the nature of each share. The report of the experts in this regard and accurate description of the share in kind, and what is going to follow her from guarantees or is it from the restrictions or the rights of others and established the account value, and the statement of this value according to what is going on in handling them (Article (69) of the Regulations under the Companies Act of the decision of the Minister of Investment No. 96 of 1982).
11. Cabinet approval for the establishment of the company if the purpose or one of the purposes of work in the field of activity of satellites or remote sensing systems or any activity that addresses the purpose or pursuant to the purposes or acts set forth in the law of private associations and institutions (Article (17) of the Companies Act contribute and companies limited by shares and limited liability companies No. 159 of 1981).
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What are the procedures?
1. Is filled with sample data the initial contract and statute. This form is not handed over to the body, but are filled by the data to be used as a guide when reviewing the contract (next step) the employee is responsible for data entry on the computer and thus can be printed from the form on the site. Must obtain the approval of the Authority in the event of a desire to amend any item of the form. Click here to get the necessary data for the formulation of the Company with limited liability and here to see the formal requirements of the Memorandum of Association. (Half a day's work. Can do the steps (2 -) and (3 -) on the same day.).
2. Sample Queries are met security in case of foreign partners or directors (individuals / companies). Model is obtained for each person of a foreign security hall information desk (2) role of the second Investment Authority. Click here to get the query to a security model for individuals, and here for a query form for a security company. Is manually fill in the form is then reviewed with a lawyer competent in the same office. To accept the audit query, the employee needs to see the power of attorney issued by the Under-founders and passport photos of the founders and managers. Then delivers the form to the Imaging Center of the General Authority for Investment to be written electronically. Officer shall review it again before the seal and signature. You must make sure that the names of the partners in the inquiry form identical to the security of their names in their passports. In the case of a query to a security is good for one of the partners or directors of the Egyptian Company For security authorities competent company replaced or excluded. (One working day.).
3. Certificate is the extraction of non-confusion brand name of the company. And are extracted at this stage only if requested by the bank to open a bank account (a few banks required), otherwise prefer to postpone the start them out at the establishment procedures directly because the certificate is valid for one week only. We must therefore take into account renewed every week if affected the establishment procedures to be kept by name.
Is withdrawn form non-ambiguity of complex trade name Investment Services / Directorate General for the establishment of the first floor of the General Authority for Investment (free disposal of this form). Are filled and submitted to the competent officer in the Directorate General for the establishment and in the same role. After it is stamped the form, be delivered to the employee in the public administration for the record trade and in the second floor of the General Authority for Investment. Not disclosed the name and delivery of the certificate on the same day, usually within half an hour from the time of submission to the commercial register. (One working day.)
4. The cofounder and open bank account and the deposit of its entire capital. The bank will freeze the account of the company are not allowed to conduct any transactions it, and so is the extraction of commercial registration of the company. Review is with the bank to see the documents required for opening the account, which vary from one bank to another. (From 3 to 7 business days, according to procedures of each bank.).
After opening the account, the Bank shall issue a certificate addressed to the General Authority for Investment According to deposit the full value of shares in a frozen account. The certificate must include the bank name of the company in Arabic and English. As it should be the names of the founders of the bank certificate to match the names of the agencies in their favor and cofounder. And accompanied by bank certificate copy of the application submitted by the partners or their agent, which includes the capital value and the number of shares by the distributor and the value of each share and the value of the contribution of each partner and the percentage of participation. The bank will send out the certificate directly to the Authority for Investment and deliver a true copy of the Under-founders to be submitted with the rest of the papers of incorporation. The agent Alassen follow-up with the Department established the first floor of the General Authority for Investment to confirm the arrival of the certificate. (About (3) working days until the arrival of the certificate.).
5. After collecting all required documents to establish and set forth above, is to go to the hall (1) Investment Authority on the first floor to drag and fulfillment model follow the line of the company file and pull a number to review the papers with a lawyer who is competent and the final wording of the Memorandum of Association. This is paid for free and submit the form with the rest of the papers used for the drafting of the Memorandum of Association. Prefer to withdraw the number first, and the use of the waiting time to fill the request. This form requires the applicant's data (and cofounder) and data on the main partner and the statements of the company and its purpose and the number of employment and a statement of the expected distribution of the founders / partners. Also be signed declaration attached to this form, which undertakes the cofounder and the consent of all partners to the terms of the recognition.
6. Among the papers attached to the model follow the line of the company file, there is a request for publication in a newspaper investment. The data in this application for the company and its representative and the law governing them and the legal form and language to be publishing in the newspaper investment. Demand to be completed and handed over with the model line-up company file during the course of the audit. Published in the case of a request, Arabic / English, are translated decision and the contract is the responsibility of the company and provide translation on CD for the newspaper box.
7. The Officer in Charge, Department of incorporation call the number and review the papers to make sure that they satisfy all the papers. If there is no shortage of paper or in error, enter employee data entry contract in the primary and basic system on your computer. The employee then asked to print the contract and cofounder of the signing of each page of the contract. The employee then transmit the file to follow up employee management foundation for the latter's assessment of fees and payment authorizations issued during the half-hour of referral.
8. Permits are received fees of incorporation. Are portrayed permits payment of two copies prior to payment, then go to the Bank of Alexandria, a branch of investment (there are on the ground floor of the General Authority for Investment) to pay all fees, except for the fee Syndicate Altjaran, which is paid treasury syndicate trading in the hall the second floor of the General Authority for Investment. After that, they are filming all the receipts of payment of three copies, and then return to the Department established the follow-up to deliver a single image of permissions and payment of the original and two copies of payment receipts. The rest are kept as a backup copy.
9. (Take the steps (5 -) and (6 -) and (7 -) and (8-) one business day.)
10. In the case of capital increase from 20,000 Egyptian pounds, is to go to the window Bar Association and the existing hall (1) Investment Authority on the first floor so that the employee pay a fee to issue permission to ratify the contract in front of the union. Then be endorsed on the contract after paying the prescribed fees. But if the capital is less than that, this procedure is ignored.
11. The Department of the follow-up to check out a power of attorney and the origin of the national ID card to the Under-founders and the company to convert the file in the same hall Real Estate agent in order to the founding document the contract and the statute in front of him. The founders or their agent waiting for their turn to sign the contract before a notary. To sign before the notary, must submit the original franchises of the Under-founders and the origin of the national ID card to be valid (the duration of the card is the seven years from the date of issue). Shall not be any passport or other identification.
12. (Take the steps (9 -) and (10 -) one business day.)
13. A decision of incorporation after 24 hours of signing for Real Estate.
14. The founders or their agent to go to lawyer up the existing hall Establishment (1) on the first floor of the General Authority for Investment after the passage of time referred to above to follow the decision of incorporation. Upon issuance of the decision, the lawyer familiarized themselves with the power of attorney and the National ID card and review the file to make sure that the payment of all fees, and then hand over the company file the Chamber of Commerce in order to issue the certificate of Practice. (This certificate is issued within 15 minutes.)
15. The follow-up of incorporation lawyer to hand over the assets of the following documents to the Under-founders to be submitted to the Commercial Register:
A) Certificate of Practice.
B) Memorandum binder per month mortgage.
C) The decision of incorporation.
D) the assets of receipts for fees for registration in the commercial register.
E) evidence of corporate governance and social responsibility.
The cofounder and sign the acknowledgment of receipt of original documents set forth above, then shoot the Memorandum of Association and the founding resolution of the two copies and a copy of the Agencies to hand them over to manage the follow-up foundation.
16. Is go to the record trade hall in the second role of the General Authority for Investment to meet the application for registration in the Commercial Register, and the form of registration in the Commercial Register. Spend all of the request and the form for free. Are portrayed two copies of the form of registration in the commercial register and a copy of the registration application and handed over the file for the benefit of the commercial register attached to their original receipts for registration fees in the commercial register and the origin of the Memorandum of Association and the origin of Certificate of Incorporation and the origin certificate of Practice and pictures Agencies and pictures cards managers or nuts travel in case of whether they foreigners. Is to wait until review the file submitted and the data mentioned in the application and form to be issued after the audit record number of trade on the form provided and which is signed by the employee in charge of the audit and the Office of Secretary of the commercial register, and then delivered to the employee concerned so that the Bouktmha.
17. (Take the steps (14 -) and (15 -) and (16 -) one business day.)
18. After 40 days of the issuance of the founding resolution is to go to the box to receive paper copies of the initial contract and the statute unpublicized investment in the newspaper.
19. The issuance of commercial register have finished the establishment procedures. And remain some of the actions needed to deal on a bank account, and the extraction of the tax card and other measures. Please refer to the section on procedures for post-incorporation.

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What data should be available in the Memorandum of Association?
Contract must include the establishment of the company data provided by the article (65) of the Regulations under the Companies Act, namely:
1. Company name and the duration and purpose and status of public and site activity.
2. Names of the partners and indicate whether they are individuals or legal Tabiein, nationality, place of residence or center of their administration, as the case.
3. Determine the company's capital and the number of shares divided by the value of each share.
4. How to distribute shares to partners and rates of participation and the participation rate of the Egyptians, if any.
5. If his partner's share in kind, determines the type and value of the share and the price which was favored by the rest of the partners and the name of her partner and the amount of its share capital in exchange for his.
6. Names of the managers appointed to manage the company and their nationalities and place of residence and whether they are partners or others and determine their powers with the possibility of a statement, which ends the term of their appointment.
7. Venue of the General Assembly of the partners and the right to determine the presidency.
8. Quorum of the sessions of the General Assembly's regular spotter partners and health decisions.
9. Quorum Health convening the Extraordinary General Assembly a quorum of partners and health decisions.
10. The month begins the fiscal year of the company and the month ends when (12 months).
11. Minimum, which is spared to create the legal reserve.
12. The percentage you deducted from the capital for the distribution of the first share of the profits to partners about the value of their shares.
13. The prescribed percentage to reward the company's management.
14. Names of members of the board of supervisors if the number of partners to ten and the period during which he takes over.
15. Name or names of the first auditors.
16. Name of the first legal adviser to the company in case of capital increase of 200000 LE (must be restricted schedule the appeal at least).
[Top]
What are the formal requirements of the Memorandum of Association?
Must be signed by all partners to the Company. And may be represented by Undersecretary of incorporation if the text of the power of attorney to do so. This is the ratification of the signatures, or documentation of the contract after approval by the Examination Committee requests the establishment of companies established in the law (Article (66) of the Regulations under the Companies Law issued by the Minister of Investment No. 96 of 1982).
And may, in cases of necessity or urgency determined by the Director General of the companies, to move himself or his authorized representative mentioned a personnel management in order to be ratified contract signatures received by the Company's primary and in front of him, and after performance fees. And be ratified by the record stating the following (Article (4) of the Regulations under the Companies Law issued by the Minister of Investment No. 96 of 1982):
1. Worker's name, which was signed in front of him, and function and support the authorization statement when appropriate.
2. Place and time signature.
3. The names of the signatories, their nationalities, according to documents that they hold personal achievement.
4. Characteristics of the two sites, and whether they were signing in their capacity as originally, or deputies on behalf of another, with proof of this status of the parliamentary or other Agencies. May not be the agent to sign the initial contract for the company or unless the statute allows him to support his agency so explicitly.
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What are the fees established?
Click here to learn all fees for the establishment of the company with limited liability and the party that paid it.
[Top]
What are the cases where the Committee for examining applications for the establishment of companies object to the establishment of the company and the terms of that?
The Committee shall not be objected to the establishment of the company but reasoned decision and in case of availability of one of the following reasons (Article (49) of the Regulations under the Companies Law issued by the Minister of Investment No. 96 of 1982):
1. Primary non-conformity of the contract or the Company to the terms and mandatory data contained therein the form or conditions in violation of the law. However, the Commission may authorize, at the request of stakeholders and for the reasons that convinced them, out on the provisions of these models and the condition of violation of jus cogens in the law.
2. If the purpose of the company or the activity that you will be doing is contrary to public order and morality.
3. If one of the founders do not have his eligibility for the establishment of the company.
4. If one of the directors or members of the Board of Directors does not satisfy the conditions set forth in the law.
If the Committee rejected the request of incorporation of any of these reasons, it must be a decision of rejection, causing to be informed by all the interest of the commercial register and the Register Office concerned and stakeholders within sixty days from the date of submission of papers updated to the Committee, and stakeholders re-apply if they removed the reasons on which upon the refusal decision (Article (56) of the Regulations under the Companies Law issued by the Minister of Investment No. 96 of 1982).
If the Committee requests modifications or have had observations, it is for stakeholders fulfillment observations and modifications required by the date specified by them to the Commission and only issued its decision in an application was his condition (Article (54) of the Regulations under the Companies Law issued by the Minister of Investment No. 96 of 1982).
[Top]
When the company acquires legal personality?
Acquire the company's legal personality from the date recorded record trade, and may begin to conduct its operations as of the date of registration may not be after that date to appeal the invalidity of the company due to violation of provisions relating to the procedure of incorporation (Article (77) of the Regulations under the Companies Law issued by the Minister of Investment No. 96 for the year 1982).

[Moderated: No personal contact on the website please!]

There are no obstacles from owning any of the foreign investors full ownership of companies do not need an Egyptian partner. Also, there is now a complex of investment to extract all the new companies in the papers a few days.
The conditions are not impossible at all.

Dear members! I have got a business of my own in egypt. It is possible to do it without egyptian partner. I have got a question to check what my lawyer told me. After 5 years the company papers have to be renewed. For each passed year that the company exists a sum of 600 LE have to be paid (in this case 3000LE) to apply for a renewal of the papers? Does anybody know if this is correct? It is really an urgent request and i would be very thankful. In case I can help somebody with informations you are very welcome! Thanks!!!!!!!!

Dear Friend,


I want to open an import export company in Egypt.

please if you have any way of doing it give me a hand.

waiting your response.

Hello Panagias,

Welcome to Expat.com

Please post a new discussion in the Work in Egypt forum, where you can get more information about your business.

Thank you,
Pravin.

I hope people here helped you

Best of luck with your business!

I am Slovenian citizenship (EU) and I am looking for an agent who will help me to open and Egypt Company.

Hi lorna gornik and welcome to Expat.com,

Please note that you posted on an old thread.

For better visibility, it would be much better if you create a new discussion with all your questions on the Egypt forum.

Can you please give us more details regarding the company you would like to start?

Thank you,

Hasnaa
Expat.com Team

Hello,

Many thanks for your email. I would love to rent out holiday apartments in Hurghada, for that reason I would love to open company in Egypt and I need help. I need to know who I need to contact. I dont find any agents who would provide this service.

I also search for already established Egypt company who do rent out apartments, who could offer to our costumers 1 or 2 weeks holiday apartment rental.

Many thanks for any information and help.
Kind regards,
Lorna

it depends on what kind of a company you wanna set up and which field you want to wok in as there are 2 different ways to set up a company ...kindly go to http://www.gafi.gov.eg/en/doingbusiness … nvest.aspx   you will get information you need ,
if the field you gonna work in s other than the ones mentioned on that site then the procedures would be different depends on which kind of a company ( solo  , partnership , limited company etc ,,

Hello, many thanks for your e-mail and all info. I will have a look this days and get back to you. Kind regards, Lorna

Hello,

I would love to thank you for your information. I am going to open USA LLC company and with that company I would love to buy holiday apartments in Egypt.

Please let me know if you may help me. What are your fee?

I need to know if I may buy holiday appartments in Egypt with USA LLC Company. Than how it is with renting out this appartment. Do I have to open a branch in Egypt or is better to open a company?

I would be grateful to you if you may provide me all necesary information.

I do thank you for all your time and help.

Kind regards,
L. Gornik

hi
it would be easier if you open a branch for an existing company abroad , the procedures would be easier , faster besides lower cost ,
though you will need to submit the following documents :-
1- a certified copy of your company's statute or a a certificate from the chamber of commerce in your country , authenticated at the Egyptian embassy (translated into arabic )
2- The decision of the main company abroad to open a branch in Egypt attested by the Egyptian consulate (translated into arabic)
3- A copy of the main company's decision to appoint the Director of the branch in Egypt attested by the Egyptian consulate abroad ·
4- a written endorsement that the company has never opened a branch in Egypt before attested by the Egyptian consulate
5- a bank certificate stating a transfer sum of 5,000 g Egyptian
6- 2 photocopies of the lease or ownership contract of the branch"s office  stamped by the notary department in egypt.
7- fill the security investigation form (about the company and the branch manager)· .......
it takes around 1 week here to be achieved ,
any further question please ask ,
regards

Dear Sirs ,
I am Ahmed Menaisy   Legal and Markting advisor for many companies in Egypt and GCC  and i am interested about your need an ageant in egypt and i can help. ,so contact me
Ahmed menaisy


Sent from my iPad

i have a good place in new cairo and ready for any kind of partnership

you will have to deal with LOTS of bureaucracy

If you are looking for partnership or agent in Africa and Asia in aviation field or other fields contact me
[email protected]

i think you have get a lawyer to set it fast and easy
and to declare the company type and foreigner invest  rules and condition
If you need help call me
and the cost of lawyer in not high in Egypt

I am egyptian dentist i look for  some body to share me a business

Hi speak to a company called Rivermead Global they are based in the UK but they have many apartments in Hurghada, both for sale and to rent.
www.rivermeadglobal.co.uk

hello lorna ,
if you did'nt but it yet , my uncle have an appartment there in a compuond called el hadaba and he is liviing in switzerland so if you interested you can contact me ?

I have looked at many of the postings and none of the experiences matched mine. there is setting up a business and actually being licensed.
i had to have an Egyptian partner from the outset.
you do need a lawyer or an accountant-the lawyer on the embassy list loused it up and of course no refund i had no trouble with the accountant.
To obtain the licence I had to have the equivalent of $50k in a properly set  up business account
It took over 3 years as so many departments were involved or tried to be
has anyone told you about bribes?
I had to have a residency visa and work permit to operate a business and they are not easy to get if that rule still applies
that's just a little part of it and I wish you success if you come

Hi NassSem
I ihab from egypt
actually I have very good project can be in egypt so we can make good company in
egypt and will be multi national company in the middle east
please keep on touch to give full infornation
Mobile ****************
Ihab

Hi Nassman, could you please shear with us some of your experience about set up your new company in Egypt?