In this article, I will explain How to Open a small company in Egypt within a day. As foreigners, you can Establish a company without any complexity. You need just one day to be an Egyptian company owner.
New Egyptian Law for Company
- A foreigner can open an LLC company alone
- Egyptian Partner or shareholder is not mandatory
- You can include a maximum of 7 Partners
- No Bank deposit or Bank Certificate required
- No pre-security clearance required
Any company, whether local or foreign, established in Egypt is either incorporated under the Companies Law number 159 for the year 1981 and its amendments, which is considered the parent law for companies in Egypt, or under the Investment Law 72 of 2017.
How to Open a small company in Egypt within a day?
What you need to Prepare as Requirements
- A Business Lawyer
- A Chartered accountant
- A translator (If you cannot read and understand Arabic)
- Your and your partner’s (If) Passport copy
- Passport size picture
- Company opening fees
What you need to do
- Collect lawyer ID card copy
- Take a stamped letter from a Chartered accountant (They know the format)
- Bring an official translator with you
- Then Go to the One Stop Investor Service Centre at GAFI office before 9 AM
- Tell them your Business type and Name and all other information
- Then pay the fees
- Normally after 5 hours, you will receive your company document
GAFI (General Authority For Investment And Free Zones) Location
Cost and Charges
- Lawyer fees: 1500 EGP
- Chartered accountant fees: 1500 EGP
- Translator fees: 950 EGP
- Government charge: 7700 EGP ( Per Half Million of Total Company Capital )
Note: Lawyer, Chartered accountant & Translator fees can vary as per their reputation and other facts. Government fees also variable. Any time it can change
Documents
In efforts of the Ministry of Investment and International Cooperation to promote SMEs, now establishing a Limited Liability company is easier and faster. You will be able to receive all the documents of your established company in one business day and in 1 step only.
Certificate of non-confusion
The name reservation process is to be issued from GAFI incorporation lawyer based on the submission of five alternative names organized in order of preference with no direct engagement with commercial registry employees.
Procedures Merging
A number of procedures were integrated and performed as one- procedure on behalf of the client by GAFI follow up team. These include issuing of commercial registration, Tax ID, VAT registration, Social security registration. All conducted with no engagement between the investor and any of these entities.
VAT
The VAT registration certificate is issued via GAFI follow-up team with no engagement between the client and VAT employees.
Social insurance
The social security registration number is issued via GAFI follow-up team with no engagement between the client and social security employees.
Important Notes
- This way is suitable for basic or small size company with specific criteria
- If you have partners all of them need to be present same time and need a valid resident permit.
- If your partners are not present then you need the power of attorney
- You will find lawyers and Chartered accountants near Gafi area and also you will find brokers. But I recommend someone trustworthy with a reference.
- But if you use a lawyer and you give him power of attorney, can do all without you. as same time.
