Each entrepreneur is assigned a unique number by the Chamber of Commerce, which will be used to track their activities in the country. It must be on hand when opening a business or provided to the lawyer handling the registration.
This must be the actual address of the office, warehouse or other rented premises where the enterprise is located. The purpose of the premises must be specified in the documents in advance, otherwise there may be problems. The lease term is usually from 1 to 3 years. Even if it is not needed for business, it must be there one way or another, otherwise registration will be denied.
When opening your own business, the following taxes are paid:
- on profit;
- on rent from the cost of the premises;
- income tax from the wages of employees.
Real estate tax depends on the cost of rent, so everyone, without exception, underestimates its real price by tens of times. The same applies to employee salaries – none of them are indicated in official documents. And the minimum possible values are specified in the reports for the tax office. This is where the main problems of doing business in Egypt begin:
- 90% of any issues are resolved through connections;
- the processing times can be delayed, if this is regulated by law, it is not observed;
- more than 50% of government agencies do not have computers, the processing of any papers takes a very long time, and if a document is lost, it will be extremely difficult to restore it. Even if some services have a computer database, then usually a lot of information was entered with errors from paper media, which makes the work even more difficult;
- spelling errors and typos in passport data are not uncommon. Check everything “on the shore”, otherwise it can turn into big problems in the future.