The Egyptian pound is the official currency of Egypt. Arabic is the state language.
Egypt is active in foreign trade. The main importers of goods from Egypt are the UAE, Italy, the US, Turkey and Germany.
Egypt's foreign policy is aimed at dynamic integration into the international economy and politics. Egypt has membership in international organisations such as the African Development Bank, the Arab League, IAEA, OAPEC, WIPO, WTO, UN etc.
The company's incorporation in Egypt today sounds very promising.
choosing a country
choosing a bank
payment (by any method)
bank account opening
Out of the the advantages that are open to founders when registering a company in Egypt, it is worth noting in particular:
According to current Egyptian legislation, the incorporation of such companies is available to foreign persons:
The number of participants in a limited liability company cannot be less than two and cannot exceed fifty. The minimum authorised share capital for a limited company is £50,000. Foreigner people may own 100% of the share capital of a limited liability company. The company is allowed to participate in all permitted areas of business, with the exception of banking, stock exchange and insurance.
An Egyptian joint stock company is similar in its main characteristics to other similar companies existing in other countries of the world. It is a company, the capital of which is divided into shares, the liability of each shareholder being limited to the value of the shares. A joint stock company must have at least three founders. The minimum issued share capital of a private limited company is E£250,000. The company can participate in any field of activity, including banking, insurance and stockbroking.
Participants have unlimited liability for the company's obligations. A company must have a Supervisory Board consisting of at least three people. The minimum share capital required for a limited partnership in shares is E£250,000.
We shall take a look at some features of the incorporation procedure in Egypt:
The founders must submit the following documents to the Company department:
The company department shall submit the application and attach documents to a special committee to create a company that will review the application and documents.
Once the application has been approved, the company shall be deemed to be registered.
The company name may include the names of one or more partners. In addition, the words "Limited Liability Company" must be included in the title.
The full name, date of birth, address and nationality of all directors shall also be required. Full name and address of all shareholders. All documents are stored in the Commercial Register after registration. Each LLC must have a registered office in Egypt in order to accept legal notices.
The state of Egypt has the following taxation features:
The above does not constitute tax or legal advice for your specific situation.