Many people want to establish an import and export company in Egypt, but there is no doubt that this is done in accordance with a set of rules and laws, so that the person does not expose himself to legal accountability. Diwan Company is considered one of the most prominent companies that you can use to establish an import and export company. In Egypt, below we will talk about this topic. Let us continue together.
The most important steps to follow when establishing an import and export company
Establishing an import and export company
There are a set of steps that a person must follow in order to be able to establish an import and export company in Egypt, and the company explains to us Diwan These steps are as follows:
Determine the type of company
There is more than one type of company, and each type includes a group of subsidiaries, as follows:
Firstly, individual establishments
It is one of the most important types of companies, but its ownership is due to only one person, as this individual or owner receives all the profits, and on the other hand, he is responsible for all the obligations and debts that the company may face, and he is obligated to pay these debts from his own money in the event The company was unable to pay its debts, and this type of company is considered suitable for small and medium enterprises.
Secondly, companies of persons
This type of company is between a number of people, and the personality of the partner in this type of company is taken into consideration and does not dissolve in the personality of the company, and there is an element of trust between all partners. It is worth noting that there are three types of companies: the joint-liability company, which is a company that is between two parties or More, and the liability of the partners is unlimited, as there is unlimited personal and joint liability, and the partner’s address is a combination of the names of all the partners.
The simple partnership is a company in which there are joint partners and there are the same characteristics of solidarity in terms of personal and joint liability, and in which the company’s title is a combination of all the names of the partners.
A joint venture is a company in secret, meaning that the law does not know of its existence and is agreed upon by partners only. It is an agreement between two or more in which losses are distributed and profits are divided. This company is not legally registered and does not have any independent entity.
See also: Learn about the steps to establish a sole proprietorship in Egypt
Third, financial companies
This type of company includes more than one type of company, such as joint-stock companies, which are the largest types of financial companies. The capital is divided into equal shares for each partner. The shareholder is responsible for the company’s debts only within the limits of his share of the shares, which is the appropriate form when undertaking large economic projects. .
Partnerships limited by shares have two categories of companies in which there are general partners, where their own funds are considered a guarantor of the company’s debts, and they are responsible for managing the company. There are joint partners, where each partner is responsible for the company’s debts to the extent of his share.
Limited liability companies are between two or more partners who are responsible for the company's debts to the extent of their shares in the capital.
Determine the business activity
This is done by determining whether you are a producer or an exporter, and here we are talking about export, as export does not specialize in exporting a specific product, which is what many people believe, and not specializing has many advantages, as great flexibility will allow you to fulfill customer requests. .
In addition, you will not bear the high production costs of machines, labor, raw materials, and other production requirements, which burden manufacturers.
Determine the company's identity
Which consists in choosing the name of the company, as the export process is considered a global activity, so you must choose an international name, so that it is easy to pronounce and understand, and compatible with all cultures, suitable for all languages and dialects, and such advice will not be possible to obtain except by dealing with Diwan Company. Which is provided The best company establishment lawyer in Egypt.
In order to be able to get a suitable name, you must do many searches for the names of similar companies that work in the same field, and then new ideas will be generated, and you will choose the appropriate name that will serve your marketing and sales purposes.
What you must take into consideration is that your company name must not be linked to a specific product so that it does not represent an obstacle to expansion into other products in the future, and you must also make sure it has not been taken or used before.
Official documents
There is a set of official papers that you must submit in order to be able to export yourself, and benefit from all the advantages that Egypt provides to exporters. The most prominent of these papers is the commercial registry, which is the best organized method, even though it was somewhat old and known for a long time.
Tax card: This card can be obtained for your new workplace, company, or institution.
Register of Exporters: He must obtain a course in order to practice exporting from the Foreign Trade Training Center of the Ministry of Trade and Industry. The duration of the course is 5 days.
Company bank account
To create a BTC account, you will need a set of papers, such as an ID card, a commercial registry, and a tax card. Thus, you will have legally established an export company and will be able to export all Egyptian products authorized for export.
Read also: The difference between the sole proprietorship and the one person company
The most important services provided by Diwan Company in establishing an import and export company
Establishing an import and export company
There is a group of services that Dewan Company provides to all its clients, and below we will mention the most prominent of them:
- Helping determine the appropriate legal form for commercial activity in order to ensure obtaining the greatest number of advantages.
- It helps its clients and guides them in obtaining all the company’s official documents and papers, such as permits and contracts, among others.
- Explaining how the tax file works.
- Register the institution in the exporters’ registry.
- Preparing the necessary contracts for employees and workers.
- Providing legal consultations.
Why start an import and export business
Recently, the import and export industry has flourished significantly through the exchange of goods and services across international borders, and accommodates companies of all sizes. In this industry there are many different industries of import and export companies, and there is no doubt that each has its own set of distinct characteristics and needs.
One of the most basic benefits of starting an import and export business is access to the global market. By distributing goods around the world, the potential for profitability and growth can be enormous.
However, this market can be over-saturated and very competitive, and what you should take into consideration is that you are still struggling with drug-related violence in this area, and you as a businessman must very carefully weigh the benefits and challenges of the import and export business to determine what suits you best. Your goals.
Documents required to establish an import and export company in Egypt
To establish an import and export company in Egypt, you must follow the legal steps and prepare the necessary documents. Here are some documents you will need:
1. Preparing the company’s articles of incorporation: This document includes defining the company’s objectives, scope of work, and all details related to establishing the company.
2. Company incorporation instruments: They are issued by the General Authority for Financial Supervision in Egypt and authenticated in the real estate registration offices.
3. List of shareholders: It contains the names and ownership percentage of each shareholder in the company.
4. Legal statement: proving the company’s authority to carry out import and export activity.
5. Import and export permits: The necessary permits must be obtained from the competent authorities in Egypt to carry out import and export operations.
6. Company licensing: The company must be registered and licensed at the General Authority for Investment and Free Zones in Egypt.
The most important steps for establishing an import and export company
How to complete the necessary legal procedures to establish an import and export company
If you would like to know how to complete the necessary legal procedures to establish an import and export company, here are the most important steps for establishing an import and export company, as it requires you to follow specific legal steps that vary according to the country and its local laws. However, here are general steps to complete the legal procedures:
- Choosing a company structure: You must determine the type of company to be established, such as a limited company or a personal company.
- Choosing a Company Name: You should choose a unique name for your company that complies with local laws and requirements.
- Determine responsibilities and rights: The shareholders and owners of the company must be identified and responsibilities must be distributed among them.
- Determine the business activity: You must specify the type of goods you wish to import and export.
- Preparing legal documents: Company documents such as the articles of association and partner contracts must be prepared.
- Official registration: The company must be registered with the competent government authorities and obtain the necessary licenses.
- Opening a bank account: The company must open a bank account for trade purposes.
- Compliance with taxes: You must ensure that the company complies with all local taxes and submits the necessary tax returns. These are general steps, but it is important to consult an attorney or legal advisor in your country to ensure you are following the correct steps and complying with local laws.
Important strategies for success and development of your company in the import and export market
Strategies for developing and growing your company in the import and export market occupy an important place in the journey of commercial success. If you plan to establish a successful import and export company, you must first follow the most important steps for establishing the company. You must develop a solid business plan, defining the company's goals, and specifying the goods that will be imported and exported. You must also identify reliable suppliers and business partners, and pay attention to building strong relationships in the international business market. Furthermore, you should understand the legal and customs requirements for import and export operations in the countries where your company operates, and ensure the necessary permits and certificates are in place. Applying these basic steps can help build strong foundations for your company's success in the import and export market.
How to succeed an import and export company
To achieve the success of an import and export company, you must follow specific procedures that can help you build a successful import and export company, the most important of which are:
- Market study: Before starting any business, you must study the target market well to understand the needs of customers and potential competition.
- Choosing the right products: Determine which products you would like to import or export based on market demand and trade opportunities.
- Building strong business relationships: You must build a good network of relationships with potential suppliers and customers to facilitate import and export operations.
- Determine logistical factors: All logistical factors related to transportation, shipping, and storage operations must be studied and analyzed to ensure smooth and efficient operations.
- Follow legislation and laws: Compliance must be maintained with all legislation and regulations related to import and export operations in the countries concerned.
- Invest in marketing: Develop an effective marketing strategy to promote your products and increase the number of customers and business partners.
- Cost Control: Carefully manage costs to ensure the continued profitability and success of your company.
- Continuous innovation and development: Make your company competitive by regularly innovating and developing products and services. In short, success in an import and export company requires good planning and implementation, and adherence to the highest standards of quality and efficiency in all aspects of the business.
Costs of establishing an import and export company
Establishing an import and export company requires different costs that depend on several factors such as the type of goods you want to import or export and the size of the business operations you plan to conduct. However, some of the major expenses we mention can be estimated as follows:
1. Registration and licensing costs: These costs include registration fees for the company and the permit to establish it, in addition to the costs of obtaining the necessary licenses to practice commercial activity.
2. Necessary capital: Capital is required that can be used to finance daily business operations and to cover import and export costs.
3. Office and warehouse rental costs: You may need to rent an office to manage business operations and a warehouse to store goods.
4. Transportation and shipping costs: These costs include the cost of shipping goods to and from different countries, in addition to internal transportation costs.
5. Insurance costs: You must take into account the costs of insuring the goods and freight against any potential losses.
6. Marketing and advertising costs: Establishing an import and export company can require marketing and advertising efforts to attract customers and market products effectively.
The most important steps for establishing an import and export company
Tips and guidelines for choosing the appropriate legal structure for your company
Tips and tricks for choosing the right legal structure for your company The process of establishing an import and export company can be an exciting challenge. If you are thinking about establishing a company of this type, it is necessary to follow some tips and guidelines that may help you in making this decision:
1. Type of business: There may be different types of legal structures that best suit your business activities, such as a sole proprietorship, a joint stock company or a limited liability company.
2. Financial responsibility: You must take into consideration the extent to which you bear financial responsibility for the company's debts. For example, if you prefer not to take personal responsibility, a limited liability company could be the most suitable option.
3. Taxes: Each legal structure can have different tax dependencies, so it is important that you consult a tax expert to help you choose the structure that best suits your company's needs and minimizes taxes.
4. Costs and procedures: You should also consider the legal costs of establishing and managing each legal structure and the procedures required to maintain it.
5. Organizational structure: You may want to choose a legal structure that allows greater flexibility in the internal organization of your company, including the number of partners, distribution of profits, and decision-making procedures. Choosing the right legal structure for your company can provide you with legal protection, and make it easier for you to better manage the day-to-day of your business. It is always best to consult an attorney or corporate legal advisor to help make the right decision.
Dear reader, we have thus reached the conclusion of our article about the most important steps for establishing an import and export company, by mentioning the most important services that Diwan Company provides to its clients in order to help them establish import and export companies in Egypt, and it is necessary to know that working hard and continuing to develop and innovate the company is the reason. In achieving success and growth in the field of import and export, we have presented some general factors and directions that can help you establish and advance your company.
Source:
