Egypt
Corporate Guide

What is the process of setting up a company in Egypt?

The process of setting up a capital company may vary depending on the type of company being set up. The procedures, documents, and legal requirements for setting up an LLC are easier than the requirements for setting up a JSC. For instance, the General Authority for Foreign Investment and Free Zones (GAFI) allows LLCs to be incorporated without the actual deposit of the capital of the company at the time of incorporation. 

The shareholders of a JSC should be coded and should have a written bookkeeping / custodian agreement concluded with a custodian before the incorporation of the JSC, but this requirement is not applicable for LLCs. 

We have set out below the main documents and steps required for the registration of a JSC and / or an LLC:

• A non-confusion certificate should be issued from GAFI to confirm that the proposed name is not identical, or similar to any other existing company name in Egypt. 
• Each founder should submit a power of attorney in favour of the lawyer undertaking the incorporation process on their behalf.
• Preparing the bylaws of the company with all the required information based on the model approved by GAFI and having them certified by the Egyptian Bar Association and notarised by a Notary Public.
• Opening a bank account for the company under establishment with one of the authorised banks in Egypt for the founders to deposit the required capital, if applicable. The bank will issue a certificate with the deposited amounts to be submitted to GAFI at incorporation.
• Appointment of a certified auditor by submitting an acceptance of the appointment letter issued by the auditor to GAFI.

GAFI will review the required documents and provide its comments or request additional documents, if any, and then issue a certificate confirming the establishment of the company. The company will also be registered with the Commercial Registry Office.

Foreigners, whether natural or juristic persons, will require security clearance checks, and any documents submitted by them must be notarised at the Egyptian Consulate in the country of origin legalised at the Egyptian Ministry of Foreign Affairs, and officially translated into Arabic.