Learn about the most important steps in establishing an online company

Establishing an online company. Do you dream of owning your own company and achieving your ambitions in the field of business? Now with the development of technology, establishing an online company has become an easy and simple matter that does not require a lot of time and effort, as establishing any company is the first step in which any economic facility is established, so it is necessary to take care of that entity, to ensure its success and protect all its rights. And the rights of others. In this article, we will shed light on the steps for establishing an online company, clarifying the documents required for each step.

What does it mean to establish an online company?

 

Establishing a company online means completing all procedures for establishing a new company through an electronic platform affiliated with the General Authority for Investment and Free Zones, without the need to personally attend investor service centers.

Advantages of establishing an online company

Establishing an online company has several advantages, which we mention as follows:

• Ease and speed: The electronic platform provides an easy-to-use interface to complete all the steps necessary to establish the company in a short time.
• Saving time and effort: It eliminates the need to travel to service centers, saving time and effort for business owners.
• Cut costs: Reduces the costs associated with establishing the company, such as transportation and transport fees.
• Transparency: The electronic platform provides clear information about all establishment steps and requirements.
• Safety: The electronic platform ensures the confidentiality and security of business owners' data.

It is worth noting that the company can be divided into people companies and money companies, and we will review below the documents and steps required to establish each of them.

Documents required to establish an online company   

Establishing a people online company is a golden opportunity to start your own project and achieve your business goals. The following are the documents required to establish a people online company: 

• A valid ID card for each partner: Make sure to provide a clear copy of each partner’s ID card, making sure it is valid.
• Company incorporation contract: This contract is an official document that defines the terms of the partnership, including the name of the company, its activity, each partner’s share in the capital, and his or her responsibilities.
• Company incorporation application form: This form can be obtained through the website of the competent authorities, or through the Investor Services Center.
• Declaration not to engage in any activity that violates the law: This acknowledgment is considered a pledge by the partners to abide by applicable laws and regulations.
• Additional documents: Some entities may request additional documents, such as:
  • Certificate of no criminal record.
  • Acknowledgment of ownership or lease of the company's headquarters.
  • Approval of the competent authorities (if the company practices specific activities).

See also: Learn about the steps to establish a company with a foreign partner in Egypt

Steps required to establish an online company

Below are the steps required to establish an online person company:

• Register and create an account on the electronic portal: Visit the electronic portal of the competent authorities, such as the General Investment Authority or the Ministry of Trade and Industry, and create a new account.
• Choose the company type: Determine the type of partnership you wish to establish, such as a joint-liability company or a simple partnership. To know the difference, you can consult Diwan Company, which will provide you with all the information you need at the hands of an elite group of accountants and legal advisors.
• Entering partners' data: Enter the data of all partners, including their names, personal data, and capital shares.
• Upload the required documents: Upload all required documents in electronic format.
• Payment of fees: Pay the establishment fees electronically.
• Review and audit: The competent authorities will review your application and ensure that it meets all conditions.
  •  Before submitting the application, you can send it to Diwan Company, which will assign it to several reviewers to confirm its completeness and acceptability by the competent authorities.
• Obtaining the commercial register: If your application is approved, you will receive the company's commercial register electronically.
  • It is worth noting that you should make sure to review the applicable laws and regulations before starting the incorporation process.
  •  Instead, you can seek the help of a legal expert to provide advice and support from Diwan Company, as Diwan Company includes an elite group of the best experienced cadres.
  • The legal expert ensures the accuracy and completeness of the information provided about your company, and also keeps your company records organized and up-to-date.

Documents required to establish an online money company 

Electronic services provide tremendous opportunities for entrepreneurs, including establishing online money companies, allowing customers to have quick, easy and secure transactions.

In fact, the documents required to establish an online money company may vary depending on the country and region, but in general they include the following:

• A valid ID card for all partners and beneficiaries.
• Certificate of no criminal record.
• Approval letter from the Central Bank.
• Feasibility study.
• Company incorporation contract.
• Articles of association of the company.
• Letter of commitment from the founders.

It is worth noting that you can obtain all of these documents from your place at a reduced cost and less effort, as it is possible by authorizing someone to Lawyers establishing companies in Egypt Diwan Company can provide you with all these documents easily and conveniently to start establishing your company.

Steps required to establish an online money company 

We will review with you as follows the most important steps necessary to establish an online money company:

1. Choosing a name and idea for the company: Make sure the company name is unique and easy to remember, and that its idea is viable and profitable.
2. Choosing the legal form of the company: Determine the appropriate legal form for your company, such as a limited liability company or joint stock company.
3. Extracting the commercial register: Go to the competent authority to obtain the commercial register for your company.
4. Opening a commercial bank account: Open a business bank account for your company.
5. Obtaining an operating license: Apply for an operating license from the Central Bank.
6. Compliance with laws and regulations: Make sure you comply with all laws and regulations regarding money companies in your country.

Important tips for establishing an online company 

Here are some important tips and instructions for establishing an online company: 

• Consult a legal and financial expert: It is important to consult a legal and financial expert to help you establish your company and choose the best legal and tax structures, and Diwan Company can be of assistance to you in this matter.
• Get sufficient financing: Make sure you have enough financing to cover the costs of setting up and running your company.
• Building a strong team: Assemble a team of skilled employees with experience in financial services.
• Marketing and promotion: Develop an effective marketing plan to promote your company and its services, and you can rely on Diwan Company in terms of marketing, as it has an elite group of the most efficient and skilled marketers. 
• Providing high quality services: Focus on providing high-quality services that meet your customers' needs and build their trust.

For more details and information about establishing an online company, you can contact: Diwan Firm To establish companies and provide post-incorporation services through its website.

Read also: Fees for establishing an individual company in Egypt

What is the difference between sole proprietorships and individual companies?

We find that many people are always confused when talking about sole proprietorships and individual companies, as many believe that individual companies are the same as the sole proprietorship.

 But that is not true, as each of them differs from the other. Individual establishments are limited to one person alone, while individual companies are based on more than one partner.

 Likewise, the individual establishment is part of the financial liability of its owner, in a clearer sense that his financial liability faces all the risks to which the establishment is exposed.

 If it goes bankrupt, God forbid, then the entire financial liability is exposed to bankruptcy, while in individual companies, the financial liability of the partners is separate from the financial liability of the company.

Except in two cases, the joint-liability company because it is based on personal consideration, as well as in the simple recommendation companies for the general partner because he is the manager of the company, and on whose personal consideration the company is based.

We will review below the documents and steps required to establish a sole proprietorship for further clarification and to know all the differences.

Steps to establish a sole proprietorship online

You can establish a sole proprietorship online in Egypt with ease thanks to the electronic services provided by the General Authority for Investment and Free Zones, by completing the documents and steps described as follows:

• Choose the name of the establishment: Choose a distinctive name that is easy to remember and suits the nature of your business. Also, make sure that there is no other establishment with the same name. You can inquire about the names of establishments through the Ministry of Commerce and Industry website through this. Link.
• Determine business activity: Determine precisely the type of activity that your facility will engage in, and ensure that the activity is permitted in Egypt and does not conflict with applicable laws and regulations.
• Registration in the electronic portal of the General Authority for Investment and Free Zones: Create a new account on the portal from here, Then enter your personal data, then choose the “Establish a Sole Proprietorship” service.
• Entering establishment data: Enter the name of the establishment, the business activity, and the address of the establishment, then specify the paid-up capital, specify the duration of the establishment (specific or indefinite), then add the partners’ data (if any).
• Attach the required documents: Which are as follows:
  • A copy of the ID card of the facility owner.
  • A copy of the civil registry of the facility owner.
  • Lease or ownership contract for the facility’s headquarters.
  • Certificate of cleanliness.
  • A copy of the tax record (if available).
• Payment of fees: Pay the registration fee electronically using a credit card or prepaid card.
• Request review: The General Authority for Investment and Free Zones reviews the application and ensures that all conditions are met, and if there are any observations, it informs you of them to correct them.
• Receiving the certificate of incorporation: After reviewing and approving the application, the Authority issues the facility’s establishment certificate. You can also receive the certificate electronically or through the Investor Services Center.

In conclusion, at the end of our article in which we discussed establishing an online company, it can be said that establishing a company of any type is considered a process that requires careful planning and great effort, but by following the right steps and taking advantage of the tips mentioned above, you can turn your dream into reality and achieve success in this thriving field. You can seek help from companies that establish companies and provide post-incorporation services, such as the famous Diwan Company, and they will take care of all the procedures for you without any significant hassle on your part.