Due to its location, Egypt is trying to develop as an international logistics center. More than 70 countries have signed trade agreements with this country.
To start a business in this Arab republic, you should take the following steps:
Choose a lawyer
All procedures related to business registration can be completed independently, but with a lawyer, the process will move much faster. Foreigners will have to spend a long time sorting out official documents and filling out forms, standing in lines. Lawyers, thanks to their connections and understanding of the work of various authorities, will speed up the registration procedure.
Determine the form of business
When opening a business, you must remember that a foreigner can only own 49% of the authorized capital, the rest must be owned by an Egyptian.
The following forms are available to entrepreneurs from abroad:
- LLC: 2 partners and an authorized capital of at least $9,000 are required;
- OJSC: at least 3 shareholders are required, the authorized capital is an average of $45,000;
- CJSC: requirements similar to OJSC and a board of directors, which will include at least 3 people;
- General partnership: only 2 partners are required;
- Limited partnership: 3 partners, authorized capital of 45 thousand dollars;
- IP (private entrepreneurship) can be opened by 1 person, authorized capital is not required.
Some businessmen can open branches of foreign companies or representative offices. It is important to note that representative offices cannot engage in commercial activities. Their powers include work on studying the local market and building contacts for further investment.
Obtain the necessary documents
To register your business, you will need to obtain several documents:
- a business permit (issued by the local chamber of commerce);
- a certificate of registration with the tax service;
- a tax reporting book (issued by the tax service).
Organization address
An address is required when registering a company, even if it is not needed for doing business.