Egypt is one of the most attractive countries for investors because it is deemed to be at crossroads between Africa and the rest of the world, which makes the number of opportunities higher than any other region.
The Egyptian government tremendously encourages domestic and foreign investment to raise the socio-economic level, and set up new business needs to flow by a set of procedures. In this article, we aim to clarify how to register your company quickly.
Types of Companies
Before explaining the procedures, you should know the type of your company, through the following table:
|Joint Stock Company||A joint-stock company involves three associations at a minimum of EGP250,000 (half of which are required by the constitution). In the case of a public offering, the minimum amount is EGP500,000, and only a quarter of them needed.|
|General Partnership||There is no limit for the associations or the partners and only EGP5,000 is required.|
|Limited Partnership||A limited partnership involves a general partner and an unlimited number of sponsors. Regarding sponsors, their liabilities are limited to their amount of contribution. A minimum capital of EGP5,000 is required.|
|Limited Liability Company||A limited liability company involves two associations, at least with a minimum capital of EGP50,000, and the total amount must be released during the company’s constitution.|
The Eight Procedures
Generally, there are eight main procedures to complete the registration process:
Procedure 1: Booking a Company Name
First of all, you are required to choose a name for your company and register it in GAFI (General Authority For Investment And Free Zones) with fees of EGP25, and then you will receive a certificate of eligibility, including the official government stamp.
Procedure 2: Obtaining a Bank Certificate
You can issue the bank certificate from Alexandria Bank for EGP300-500 and it can take one or two days. You can still open an account with another bank to obtain this statement.
Procedure 3: Registration with the Accountants and Auditors Registry
The auditor of your business has to be registered at the Accountants and Auditors Registry to take a certificate.
Procedure 4: Notarizing Contracts
Each of the business’s contracts, constitution, and statutes have to be notarized before the Investment Notarization Office at the GAFI.
Procedure 5: Registration of GAFI
Here is a list of documents you will need:
- The eligibility certificate (original)
- The bank statement (original)
- The company’s constitution signed by its founders and representatives (copy)
- The founders’ passport or identity card or resident permit (copy)
- The certificate issued by the Accountants and Auditors Registry (original)
- A duly filled and signed application form (provided by the GAFI)
- The company’s notarized statutes.
Procedure 6: Obtaining an Incorporation Certificate
Once you validate the company’s statutes, the certificate will be issued within 24 hours and shared in the official gazette within 15 days.
Procedure 7: Tax Registration
You need to produce the company’s statutes, bank certificate, registry of commerce and proof of address to receive the tax card.
Procedure 8: Registration at the National Authority of Social Insurance
Create a company file, which you will fill every time to hire a staff.
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