Blog

Starting a Business in Egypt

- April,12 2017

 

Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Egypt, Arab Rep. It examines the procedures, time and cost involved in launching a commercial or industrial firm with between 10 and 50 employees and start-up capital of 10 times the economy's per-capita gross national income.

 

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 190 economies. The most recent round of data collection was completed in June 2016.

 

1- Obtain a Certificate of Non-Confusion from the Commercial Registry to reserve the company name

Agency: General Authority for Free Zones and Investment (GAFI)

 

Entrepreneurs must reserve a company name at the General Authority for Free Zones and Investment (GAFI) one-stop shop. The Incorporation Department will first check the legality of the proposed company name. If the name is deemed to be legally admissible, the entrepreneur will then go upstairs to the Commercial Registry office in the GAFI one-stop shop to pay the required fees and obtain the certificate of non-confusion (shahadat adam al-iltibas) bearing the official government stamp (khetm el nesr).     1 day     EGP 25

2- Obtain a Bank Certificate from an authorized bank

Agency: Any authorized Bank

 

The Bank of Alexandria branch at the General Authority for Free Zones and Investment (GAFI) issues and delivers the certificate in 1–2 days. The cost to open a bank account and obtain a bank certificate is between EGP 300 to EGP 500, depending on the bank. This certificate can also be obtained from other authorized banks.     1 day     EGP 100

3- Submit documents to the Department of Companies, obtain invoice and pay fees

Agency: General Authority for Free Zones and Investment (GAFI)

 

The founder submits the company documents at the reception desk of GAFI, where they are reviewed immediately by a lawyer. These documents include:

1. Original certificate of non-confusion.
2. Original Bank Certificate of opening an account with an authorized bank.
3. A copy of the powers of attorney from the founders to their representative.
4. A copy of the founders' I.D. cards or passports.
5. Original certificate indicating that the company's auditor is listed at the Registry of accountants and auditors.
6. The application provided by GAFI.
7. Stamped articles of association.

A registry employee reviews the documents, and issues a detailed invoice for all fees associated with the company's establishment.

Fees for company establishment:

• Notary public fee: 0.25% of capital ( minimum of EGP 10 and a maximum of EGP 1,000 )
• Establishment fees: 0.1% of capital (minimum of EGP 100 and maximum of EGP 1,000 according to Article 17 (d) of the Companies Law)
• Commercial Syndicate fee: EGP 125 (for capital less than or equal to EGP 500,000) or EGP 250 (for capital more than EGP 500,000)
• Publication fee: EGP 150 (for a limited liability company in Arabic) or EGP 300 (for a limited liability company in Arabic and English)
• Chamber of Commerce fees: 0.2% of capital (minimum of EGP 24 and maximum of EGP 2,000)
• Commercial registration: EGP 56
• Issuance of operation certificate: EGP 29     1 day

4- Obtain the certificate of incorporation

Agency: General Authority for Free Zones and Investment (GAFI)

 

After the fees are paid, the company submits the articles of association to the GAFI follow up unit. On March 2016, the government of the Arab Republic of Egypt introduced the Follow-up Unit at the one-stop shop. The unit is responsible for notarizing the company’s contract in addition to liaising with the tax office and the labor authority on behalf of the company.

The competent authority must ratify them and issue a certificate of incorporation approving the establishment of the company. The follow up unit will then be in charge of following the application through the department of taxes, Companies Chamber of Commerce and National Authority of Social Insurance. Within 3 days the founders can collect the certificate of incorporation in addition to the tax registration ID. A file for the company will also be opened at the National Authority of Social Insurance.

 

 

 

Full Article:

http://www.doingbusiness.org/data/exploreeconomies/egypt/starting-a-business


  trirlzed

http://cialisnrxch.com/# http://cialisggnrx.com/# http://cialisndbrx.com/# http://cialisgentrx.com/#

  EyewaX

[url=https://ventolingeneric.com/]ventolin hfa 90 mcg inhaler[/url] [url=https://acyclovir800.com/]acyclovir[/url] [url=https://seroquel50.com/]50mg seroquel[/url] [url=https://albuterol100.com/]albuterol[/url] [url=https://prednisolone40.com/]prednisolone[/url]

  hourge

small consumer loans cash loans payday loans in las vegas nevada cash now

  online pharmacy

gastrointestinal dysfunction hair loss and treatment http://canadinpharmacy.us.com canadian pharmacies history of asthma female hair loss canadian pharmacy

  ZoloftGar

zoloft cost - buy zoloft cheap

  joipttiz

http://cialisnrxch.com/# http://cialisggnrx.com/# http://cialisndbrx.com/# http://cialisgentrx.com/#

Please enter you comments.


Receive updates on Latest Business for Sale

Social Media