To facilitate the process for citizens, the General Authority for Investment in Egypt has launched a service for establishing companies and businesses with simple procedures, either from within the authority or through its electronic portal. Through the portal, investors can submit their company formation applications, pay all related fees, sign the establishment documents, and receive the outputs from the Investor Services Center or via email.
Conditions and Procedures for Establishing Companies
The client takes a number to determine their turn, then the specialized lawyer receives the documents from the investor after ensuring they are complete and verifying the presence of an electronic signature. The documents include:
1. Certificate of name clearance for the company from the commercial registry.
2. Bank certificate confirming a deposit of no less than 10% of the company’s capital.
3. Certificate from one of the licensed depository and central registration companies confirming the deposit of securities for joint-stock companies and partnership limited by shares companies.
4. Copies of powers of attorney (original for verification).
5. Clear, valid personal identification documents.
6. National ID for Egyptians.
7. Passports for foreigners.
8. Original declaration of acceptance of appointment from the auditor on their letterhead and stamped.
9. Recent ID card of the legal advisor.
10. Security check forms for foreign founders or partners in paper form and on a CD.
11. Approval from the relevant authority if any of the company’s purposes require special approval.
Procedures for Non-Egyptians to Establish Companies in Egypt
Establishing companies in Egypt for non-Egyptians requires several legal steps and procedures. The basic procedures are:
– Choosing the type of company
– Preparing the necessary documents
– Obtaining government approvals
– Opening a bank account
– Registering the company commercially and for tax purposes
– Social insurance registration
– Starting the company establishment process
Electronic Company Formation Service
To simplify and facilitate the process for all investors and create an investment-friendly environment, the General Authority for Investment and Free Zones has launched the electronic company formation service through its portal. Investors in Egypt can establish companies fully via the General Authority for Investment and Free Zones’ portal as follows:
– All individual enterprises and companies governed by the Investment Law No. 72 of 2017 are to be established through the portal only at (http://www.gafi.gov.eg).
– Company formation does not require attendance at the main center or any of the authority’s branches in the governorates, provided an electronic signature is valid during the formation process, and only automated powers of attorney are used.
Company Formation Fees in Egypt
The fees and costs for establishing companies in Egypt vary according to the type, but generally, the following fees must be paid to ensure proper company formation:
– The establishment fee from the General Authority for Investment is one per thousand of the capital, with a maximum of 1000 EGP and a minimum of 100 EGP.
– The publication fee in the Investment Gazette is 150 EGP for ten copies.
– The certification fee for the company formation contract is 5000 EGP with a minimum of 100 EGP, applicable only for companies with a capital exceeding 20,000 EGP.
– The company registration fee is 56 EGP, payable at the commercial registry.
– The contract notarization fee is a quarter percent of the capital, with a maximum of 1000 EGP and a minimum of 10 EGP, payable at the notary office.
Advantages of Establishing Companies in Egypt
Establishing companies in Egypt comes with many benefits, including:
1. Strategic location
2. Large market
3. Trade agreements
4. Available workforce
5. Government facilities
6. Infrastructure
7. Financial and banking sector
8. Laws and regulations
9. Relatively low cost of living
Utilize Legal Protectors’ services if you are about to establish your company. We help you avoid legal issues in the investment field by handling the paperwork and obtaining all necessary permits and approvals for starting your company.
