How to establish companies in Egypt is one of the most important common questions for many people who want to establish their own companies in Egypt. In order not to expose yourself to accountability, you must seek the help of one of the companies that helps in establishing companies in Egypt, such as Diwan Company, because it is not easy. Which you expect, as there are a set of legal procedures that must be followed, and through the following lines we will talk about establishing companies in Egypt in detail, so we will follow up together.
What are the steps for establishing companies in Egypt?
Establishing companies in Egypt
There are a set of steps that every investor who wants to establish a company in Egypt must follow Diwan Firm By clarifying these steps, which we will mention below: -
- Firstly, you must go to the Establishment Department at the headquarters of the General Investment Authority.
- After that, you will receive a company information writing form.
- The name of the company, the purpose of the title and the type of company are specified.
- Receive a certificate of no confusion.
- Submit all the required papers and documents necessary to establish the company.
- The papers submitted to the General Authority for Investment must include the financial accountant’s certificate, the founders’ birth certificate, general powers of attorney from the company’s founding partners, and all necessary papers must be submitted to the Authority’s audit department in order to ensure their authenticity.
- This is in addition to obtaining the commercial register and submitting an application for the tax card.
See also: Everything you want to know about how to establish individual companies
What is meant by establishing a company?
What is meant by the word incorporation, based on what has been defined in most laws, is that it is the meeting of one or more people with the aim of managing a quantity of money in something under an organized legal framework that helps them manage a project that generates profits. The laws regulating companies have specified the conditions for establishing the company, and we will talk about them in detail below. In order to introduce you to how to establish a successful company, they include determining the company's activity, determining a trade name, determining the company's capital, the articles of incorporation, and registering the company.
What are the conditions for establishing a company in Egypt?
There are a set of conditions that must be met to establish a company in Egypt, and below Diwan Company explains to us the most important and most prominent of these conditions: –
- Determining the company’s activity, which determines the nature of the company’s activity, whether it is a commercial activity, an industrial activity, or an electronic activity.
- Determine the trade name of the company as Diwan Company seeks to present it to you The best company establishment lawyer in Egypt With you to determine an appropriate company name that suits the nature of the company's activity.
- Determining the company's capital, which is one of the necessary conditions for determining and establishing a company, which must be on papers only, in order to make it easier for you to obtain loans from banks.
- Articles of incorporation, if it is a group of partners, we prepare the company’s articles of incorporation to authenticate it.
- Company registration Entity registration if you are a single person or a group of partners with the Egyptian Tax Authority and the Ministry of Trade and Industry.
What are the types of companies in Egypt?
Establishing companies in Egypt
There is more than one type of company in Egypt, and we will mention them below: –
Establishing individual companies
It is a company that is owned by one person, and most of what is searched for are those with simple capital and small projects, as this facility is owned by only one individual, and he is the one who manages it, and this person becomes the competent authorities responsible for everything related to all financial matters. And the administrative affairs of the company, and he is the first person in control of this entity and the profits resulting from the company go to him.
One of the most important documents required to open this company is to provide proof of the identity of the person who owns the company, and a copy of the company’s incorporations, in addition to submitting an acknowledgment from the general partner, his agent, the director who is not a partner in the institution, or the owner of the establishment that he is not working.
Establishing a limited liability company
Limited liability companies are considered one of the most widespread companies around the world. The reason for calling this type of company by this name is due to the nature of the authority of the people participating in it within the company. The reason for this is that this type of company is established between a group of people or a group of companies that... It determines the responsibility and competence of each individual by the amount of capital he contributed within the company, and the laws for establishing this type of company are determined according to the law of the country in which the company will be established.
It is worth noting that this company is managed by either a person appointed by the partners, or one of the partners themselves, by consensus, and every year a meeting is held to take decisions that are in the interest of the company.
Establishing a joint stock company
It is one of the most prominent types of companies, as we find many people searching for how to establish this type of company, and its standards, so by looking at it, you find that its name is establishing a joint-stock company that depends on the presence of a large number of shareholders with shares in it, and the number can be more or less. According to the number of shares offered by the company.
It is not limited to those who established the joint-stock company, as the company’s shareholders have certificates proving their right to own shares in the company. The company’s management is chosen through a board of directors elected by the company’s general assembly, and in the event that a seat becomes vacant, any of the persons who are shareholders can The company participates in the elections and votes on it.
import and export company
This type of company is considered limited to Egyptians only, and these companies are considered commercial companies, and the law regulating companies for import and export stipulates the necessity of establishing companies for import and export, by Egyptians only, and the presence of any foreign element is not allowed in them, so we find that foreigners in Sometimes I enlist Egyptian friends to establish the company, in exchange for the Egyptian getting a share of the company's profits.
Read also: About establishing companies
Other types of companies
There are many other types of companies, and below we will mention the most prominent of them: –
Simple recommendation companies
This type of company consists of more than one person, and profits and company debts are distributed among them, according to the shares that are initially distributed among them in the company. It is suitable in the case of the presence of minor children or government employees.
Solidarity Company
This company is considered one of the easiest types of companies that exist in Egypt, and it is established with ease, as stipulated by the law, as its deal can be converted into a commercial deal, and the partners choose among themselves the responsible persons jointly or individually, and their responsibility is unlimited within the company, and joint venture companies. It is a group of illegal entities, but they are created in secret between a group of partners and the profits are distributed among them.
Electronic company
Egyptian law specifies many new facilities for establishing a company electronically, and for it to become an entity officially registered with the Tax Authority and the Commercial Registry without causing any harm or exposure to tax evasion.
Dear reader, we have thus reached the conclusion of our article about establishing companies in Egypt, by mentioning the most important steps and conditions in establishing companies, and the types of companies that exist in Egypt.
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