Every Detail Regarding the Rules and Regulations Governing the Company Registration in Egypt That You Should Know
The competitiveness of the business market has led to many investors seek company registration in Egypt to take advantage of the opportunities. Therefore, there is a new CRA system that verifies the availability of the business name against other distinct names. The Registrar then approves the name before reserving it for 10 days.
A Limited Liability Company is the most predominant type of structure of a company. Then, you need to have a minimum of two (2) shareholders and a maximum of 50 shareholders. The shareholders can be from any nationality and can be an individual or a corporate legal body. You’re only permitted to have a minimum of one director, but at least one director must be a resident. The Company Act also permits the appointment of nominee directors. Note that you must maintain the credentials of the shareholders concerning their names, citizenship, and occupations among others at the registered office. The minimum paid-up capital is EGP1, 000 where you’ll be required to submit a notarized Articles of Association at the Registrar Office.
Company Registration in Egypt Leads to Start Company Formation
But before you go even further, when it comes to incorporating your company, there’s no better place to be than 3E Accounting Service Provider. An award-winning company 3E Accounting makes it possible to legitimize your company in Egypt hassle free. Therefore, you stand to enjoy business consultancy services from:
- Auditing & Taxation services
- Immigration services
- Business advisory and corporate secretarial
- Business incorporation
Now, whenever you decide to set-up a Joint Stock Company you’ll be required to register with the Commercial Register under the General Authority for Investment and Free Zones (GAFI). A Joint Stock Company requires a minimum of three (3) shareholders and minimum paid-up capital of US$25,000. The process would take a fortnight upon submission of your documents.
Now, in case you’re a foreigner and opt for a Representative Office, you must register with the Registrar of Foreign Representative Office within the Department of Ministry of Economy and Foreign Trade (MEFT). Then, remember that the operations of the Representative Office will be under the supervision of the GAFI for conformity reasons. Therefore, as part of company registration in Egypt, it’s necessary to maintain a registered office address to receive legal correspondences and notices.
Upon completion of the registration, your company is eligible to register as a taxpayer and acquire a tax card. You’ll be required to have some of the following documents:
- A copy of the Certificate of Incorporation
- The power of attorney
- Article of Association
How We Can Help
According to the Employment Act, every employer is eligible to register their employees with the National Authority of Social Insurance. They issue the employees with a distinct social insurance ID that covers their welfare. As part of the Employment Act, you must present the employer’s tax card, employer’s lease agreement for the premises, Commercial Registry Certificate among others. The process will take one-to-five days.