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Company Formation in Egypt

Entity Type: Joint Stock Company


Name Details

Does the name of the company require approval by the Registry or other authorities?

Yes, a certificate confirming the non- confusion name of the proposed company with other existing names must be obtained from the Commercial Registry Office at the General Authority for Investment and Free Zones (“GAFI”).

How many prospective names will you require?

One.

Are there any restrictions or limitations on words that can be used in company names?

The Commercial Registry Office at GAFI checks the name upon incorporation to make sure the name is unique and includes the object of the company.

Address Details

Does the company need to provide a registered address?

Yes and a copy of the lease/ownership of the headquarters of the company with a certified date stamp is one of the documents required for incorporation.

Are there any limitations on the registered address (i.e. must be in-country, must not be a PO box)

Must be in-country; Must be a street address; Cannot be a PO box.

If the client has no physical location incountry, can they use your address for the purposes of registration?

No, because our office does not provide this service.

Officer Details

How many Directors are required?

A minimum of 3 directors.

Are any other officers required (i.e. Secretary)?

An external registered auditor and a legal counsel are required.

What personal details will you need for each officer?

Egyptian Directors must provide: copy of valid National Egyptian ID card.

Foreign Directors must provide the following:

Personal information:

  • Full Name;
  • Date of birth;
  • Nationality;
  • Occupation abroad.

Residence information:

  • Address abroad;
  • Address in Egypt (if resident);
  • Passport number;
  • Date and place of issuance;
  • Type of residence that the foreigner is granted, its number and date of issuance;
  • Date of arrival in Egypt;
  • Reason for coming to Egypt;
  • Time specified for residence in Egypt.

Information related to the company that will be established in Egypt:

  • Company or project, objective or line of business;
  • Address of the project or company;
  • Capital of the company;
  • Share of the foreigner;
  • Whether the foreigner has any other projects in Egypt.

Information related to previous projects in Egypt that the foreigner is a party to (if applicable):

  • Name of the company or project;
  • Objective or line of business;
  • Address of the project;
  • Capital;
  • Names of the shareholders;
  • Shareholding of each.

Is there a requirement for any in country resident directors?

No.

Do you need proof of address or Identity for officers? If YES, in what format?

Proof of address is not required, but proof of identity is required which is a copy of a valid Passport for foreigners or a copy of the valid Egyptian national ID for Egyptian nationals.

Shareholders Details

How many shareholders are required?

A minimum of 3 shareholders.

Are there any restrictions on who can be a shareholder?

Security clearance for foreigners is required.

What information will you require about shareholder?
For natural persons who are foreigners:

  • Same information as requested above for Foreign Directors.

For foreign corporate shareholders:

Information concerning the foreign company:

  • Name;
  • Nationality;
  • Address abroad;
  • Line of business;
  • Address of any office of a branch in Egypt (if applicable). Capital.

Information concerning the chairman of the board of directors of the foreign company:

  • Name;
  • Nationality;
  • Religion;
  • Date and place of birth.

Information related to the company that will be established:

  • Name of the company or project;
  • Objective or line of business;
  • Address of the project or company;
  • Whether the company will own land or any other fixed asset;
  • The capital of the company;
  • The share of the foreign company

Information related to previous projects in Egypt that the foreign company is a party to (if applicable):

  • Name of the company or project;
  • Objective or line of business;
  • Address of the project;
  • Share capital;
  • Names of the shareholders; Share of each.

Information concerning the founding shareholders of the foreign company, whether they are natural or legal persons:

  • Name;
  • Nationality;
  • Date and place of birth (for individuals) and line of business (for companies).

Will you require proof of address or ID from the shareholders?

Proof of address is not required, but proof of ID is required, as follows:

Natural persons: a copy of the valid Passport for foreigners or a copy of the valid national Egyptian ID for nationals.

Corporate shareholders: Copies of the Articles of Incorporation and of a recent extract of the Commercial Register.

Share Capital

Will the company need to specify a maximum number of shares that can be issued?

The statutes will have to determine the number of shares constituting the company’s issued capital and their nominal value.

Procedure

To incorporate a joint stock company, you will need the articles of incorporation, ID or passport of the shareholders, security clearance forms if any of the shareholders or the directors is a foreigner/foreign company, bank certificate of the deposit of the required capital in the company’s bank account, non-confusion of name certificate, acceptance of appointment letter of the auditor, powers of attorney, and the proposed articles of association.

Upon the submission of these documents and notification to the Company Relations Department at GAFI, a certificate is issued to confirm that all the documentation is complete and has been received. Once the company has this certificate, it should be presented to the commercial register and then a tax card is issued for the company. The company’s ledgers must then be issued by the competent authority and duly authenticated.

Timescale

How long will it take to complete incorporation?

Two weeks once all documents and information are submitted to GAFI in their correct format.

Is there any way to expedite the incorporation for an extra fee?

No.


Latest version updated 2nd May 2018

Country Breakdown

96

Million

Population

Egyptian Pound

Currency

$ 334.3

Billion

GDP

1.01

Million

km2