Understand the Jurisdictions Setup Requirement Before Proceed Your Company Incorporate in Egypt
Egypt is a perfect place to invest for those interested in the Middle Eastern and African markets. A lot of opportunities especially in the trade, manufacturing and real estate fields, being one of the most developed countries in Africa, Egypt also provides modern infrastructures more than other states in the region. Adding on to that, the government bringing frequent initiatives to support domestic and international investors alike means there are many reasons to company incorporate in Egypt.
Running a business is simple in Egypt; however, the same cannot be said for registering a company. Well, company registration isn’t hard at Egypt; to be honest, it is just confusing, especially for foreign investors. Keeping that in mind, 3E Accounting has been working with account, tax and legal experts from Egypt to help investors register their Egypt company.
This means that the easiest way to company incorporate in Egypt is to work with 3E Accounting. All you need to do is call 3E Accounting, state your requirements and then the firm will register your company in Egypt in low to no time and cost.
Types of Company in Egypt
Among the various types of companies in Egypt, the most popular and convenient option for foreigners is the Limited Liability Company in Egypt. And thus, we are going to discuss it.
Requirements to Open an LLC in Egypt
The minimum share capital is EGP 1000, and the investor(s) should fully pay it during registration.
- The company should hire at least one resident director. For a foreigner investor to become a sole director, he/she should acquire a resident visa and should have a minimum paid-up capital of EUR 19,000.
- The shares should be equal value and nominal.
- At least two shareholders are needed. The maximum number of shareholders in an Egypt LLC is 50.
- In case the number of shareholders in an Egypt company exceeds 10, a supervisory board is to be formed. The committee should consist of at least three shareholders.
- The shares once issued, can only be transferred between the shareholders themselves. Also, every shareholder should approve for a particular share to be transferred between two shareholders.
The Process of Company Registration in Egypt
Here is the process to incorporate a company in Egypt:
- Register your company name.
- After that, register your accountants and auditors.
- Open a corporate bank account.
- Notarize the contracts.
- Obtain a company incorporation certificate. For this, you will need to register with the GAFI. For this, you will need the following certificates:
- The Certificate of Eligibility
- Company Constitution
- The company’s notarized statues
- Application form
- Bank Statement
- Founders proof of residence (passport, visa information, etc.)
- Accountants and Auditor’s Registry Certificate
- Register for tax.
- Register at the National Authority of Social Insurance.
How Much Time Does The Process Take?
On average, it takes about 15 weeks to incorporate a limited liability company in Egypt for foreigners. But given that your paperwork is not correct or something is missing, the company incorporation process will extend even further. So, you will need to take help from a company registration service.
Looking for a company incorporate in Egypt? Contact 3E Accounting Indonesia; we will register your Egypt company for you in the minimal time and cost without hassle.