The most important goal of the Egyptian government at present is to create a favorable investment climate in order to sustain the gains achieved during the economic reform period when Egypt began attracting investments and encouraging business owners to inject new investments, which increased employment rates and job opportunities, thus achieving the targeted growth rates.
The idea of the golden license came to the forefront of efforts to create a favorable investment environment within the new legislative amendments. The government opened the door to the local and foreign private sector to contribute to increasing employment rates and economic growth and to provide many job opportunities for the youth.
What is the Golden License?
According to Article 20 of the Investment Law issued by Law No. 72 of 2017 and Articles (42 and 43) of its Executive Regulations, the golden license can be defined as a single approval for establishing, operating, and managing a project, including building permits and allocating the necessary properties for it. It may be granted to companies by a decision from the Council of Ministers. This approval may include the application of one or more incentives provided in this law to the project. This approval is self-executing without the need for any further action.
Advantages of the Golden License for Investors in Egypt
The golden license offers investors in Egypt many advantages that make their work smoother and more comfortable, and the most important of these advantages are:
1. Speeds up procedures
2. Provides the best investment incentives to investors
3. Ensures a promising economic activity in Egypt
4. Offers a trained workforce at competitive prices
Companies Eligible for the Golden License
The golden license may be granted to a large number of companies that meet the following conditions:
1. Companies established to implement strategic or national projects that contribute to achieving sustainable development according to the state’s economic development plan.
2. Companies established to implement public-private partnership projects in certain activities such as public utilities, infrastructure, communications and information technology, new and renewable energy, roads and transportation, and ports.
Regulations and Conditions for Obtaining the Golden License
There are a set of regulations and conditions that the Egyptian state requires to be met by those applying for the golden license, which are:
1. Must be established as a joint stock company or a limited liability company according to the provisions of the Investment Law issued by Law No. 72 of 2017 or the Companies Law issued by Law No. 159 of 1981.
2. Commitment to providing evidence of financial solvency to implement the project.
3. The company must be established after the effective date of the aforementioned Investment Law.
4. Commitment to providing a preliminary feasibility study for the project prepared by a reputable national or international consultancy firm.
5. Commitment to providing a timeline for implementing the project.
6. Commitment to providing all necessary infrastructure facilities (roads, water, sewage, electricity, communications, waste management).
7. Commitment to complying with all regulations and conditions related to the company’s activity according to the relevant laws and regulations.
Required Documents for the Golden License Application
1. Company establishment contract, articles of association, and certificate of incorporation (if established).
2. Recent extract from the commercial register of the company (if established).
3. Photocopy of the company’s tax card (if established).
4. Preliminary feasibility study for the project prepared by a reputable national or international consultancy firm.
5. Evidence of financial solvency to implement the project.
6. Timeline for implementing the project.
7. Declaration from the company’s legal representative (Chairman of the Board – Company Manager or Shareholders’/Partners’ Representative) committing to providing all necessary infrastructure facilities for the project (roads – water – sewage – electricity – communications – waste management).
8. Declaration from the company’s legal representative (Chairman of the Board – Company Manager or Shareholders’/Partners’ Representative) committing to complying with all regulations and conditions related to the company’s activity according to the relevant laws and regulations.
9. Any other documents deemed necessary by the unit.
Incentives that May Be Granted Under the Golden License
– General incentives
– Special incentives
– Additional incentives
Fields and Activities Eligible for the Golden License
The key sectors eligible for the golden license are:
– Electricity and renewable energy
– Petroleum and mineral resources
– Communications and information technology
– Transportation
– Industry
– Tourism
– Housing and urban communities
– Youth and sports
– Agriculture
– Military production
– Health
Duration for Obtaining the Golden License
President Abdel Fattah Al-Sisi directed officials in a press conference to grant the golden license to all investors and businessmen in Egypt who applied for it for a duration of 3 months.
Can the Golden License Be Obtained Online?
If you wish to obtain it through the electronic portal, follow these steps:
1. Register, create an account, and start the application process on the electronic portal [here](https://goldenlicense.gov.eg).
2. Submit the required documents, which the authority will review.
3. The technical secretariat of the Golden License Unit will send all modification documents to your page on the electronic portal. If you encounter any problems while performing the service electronically, please contact the hotline at 16035 from 8 AM to 8 PM Cairo time.
4. You will need to visit the Investment Authority to collect the required documents.
Recently, the world has witnessed Egypt’s interest in local and international investments, as the state has enacted many laws and regulations governing the investment process and promoting economic activity, in line with Egypt’s Vision 2030 goals. The Golden License project is expected to be a strong incentive to attract more investments to Egypt.
