Important information about the sole proprietorship
– The owner of the sole proprietorship establishes the sole proprietorship, and as soon as he obtains a certificate of practicing commerce from the Chamber of Commerce and the Commercial Register, he acquires the status of a merchant.
– There is no minimum capital for individual establishments. The company can be established with a capital of 1000 pounds or less.
– If the owner of the establishment is less than 21 years old, he must take the procedures for obtaining a court permission from the court competent to practice trade.
The owner of the sole proprietorship is required to be of Egyptian nationality, as foreigners are not permitted to practice trade in Egypt through sole proprietorships if the firm is outside the Investment Authority.
It is not permissible for any government employee or trade union person to practice commerce or acquire the status of a merchant, whether the establishment is an individual or a company, and it is not permissible to have the right to manage and sign.
– It is not permissible for the name of the company to be a scientific name such as Ahmed or Mustafa, and it is not permissible for the name to be a plural such as the Contractors, for example, or the United ..
