General Requirements for Company Formation in Egypt and What Is The Preferred Type of Company?!
The requirements also differ whether the partners in the company would be natural or juristic persons or both. But initially, the common basic requirements to set up an LLC in Egypt are:
1. A power of attorney from the concerned person. This POA template will be provided by Al-Bedeawi & Partners Law Office for the Client to sign and legalize in his/her place of residence up to the Egyptian consulate’s stamp, then the original of this signed and legalized POA shall be couriered to our office. If the concerned party is a foreign company, then in this case the POA shall be signed by the company’s manager. The signature will be given in his capacity as per the company’s official documents.
2. Valid passport copies of the partners/managers of the under-construction entity in Egypt.
3. Detailed description of the purposes/objects of the company the Client intends to establish, in order to check and identify if there are any pre-approvals required or not.
4. Suggested names for the company to be established.
5. Signed lease agreement for the headquarter of the company no matter is the size of such place.
6. Sometimes, you will be required to deposit the capital of the LLC specially if you seek to apply for an investor residency.
The company formation take on average 4-7 working days and it can be established in only one day with an additional fee to the government which is EGP10,000 as a VIP processing fees.
We, at Al-Bedeawi & Partners shall lead you through this process and usually we will give you more ideas on the incorporation and what suits you best when we discuss with you and know everything from you about the activity of the business.
Also, we conduct orientation sessions for our engaged clients to clarify everything relevant to their business in Egypt. We even go farther by explaining the tax system after the incorporation to make sure that our client is in the loop of all the compulsory laws and deadlines. Accordingly, he will not be subject to any kind of legal violation, or penalties that may be resulted thereof.
