Requirements to Register a Business at The Social Insurance Authority in Egypt
Immediately after a company is incorporated at the General Authority for Investment (GAFI), it should comply with the applicable laws in Egypt to open a file and register at the Social Insurance Authority without any delay to avoid being subject to the penalties decided by the respective laws.
For the Social Insurance registration process, the company must submit a set of documents and follow the necessary steps to successfully have an active file at the Social Insurance Authority in compliance with the laws and to consequently be able to register its employees on that file.
Required Documents - Social Insurance File Opening:
1) Company’s official documents such as: Commercial Register copy, investment prospectus, tax card, …etc.,
2) Signed lease agreement/ownership agreement of the company’s headquarters in Egypt, with date authenticated thereon at the Notary Public Office. So, it is not just a signed lease agreement but it has to be endorsed with an official stamp on it.
3) Valid passport copies/IDs of the partners.
4) Print outs of the social insurance number of the partners (applicable to foreign partners same as nationals). This means that an expat or any foreign investor has to apply for a Social Insurance filing for himself as an individual.
5) Certificate with main data from the corporate tax department.
6) Power of attorney from the company’s manager/legal representative in his/her capacity as per the company’s official documents. It can also be made at the investor's place of residency.
For the Social Insurance registration process, the company must submit a set of documents and follow the necessary steps to successfully have an active file at the Social Insurance Authority in compliance with the laws and to consequently be able to register its employees on that file.
Required Documents - Social Insurance File Opening:
1) Company’s official documents such as: Commercial Register copy, investment prospectus, tax card, …etc.,
2) Signed lease agreement/ownership agreement of the company’s headquarters in Egypt, with date authenticated thereon at the Notary Public Office. So, it is not just a signed lease agreement but it has to be endorsed with an official stamp on it.
3) Valid passport copies/IDs of the partners.
4) Print outs of the social insurance number of the partners (applicable to foreign partners same as nationals). This means that an expat or any foreign investor has to apply for a Social Insurance filing for himself as an individual.
5) Certificate with main data from the corporate tax department.
6) Power of attorney from the company’s manager/legal representative in his/her capacity as per the company’s official documents. It can also be made at the investor's place of residency.
Do We Need to Code the Shareholders of a Joint Stock Company Before Its Incorporation in Egypt?
If you are willing to open an investment in Egypt and you are finally settled on the joint stock company form for your new business in Egypt, you will need to code all the founders whose names will be added in the joint stock company;
• The coding process is done through a brokerage company or a bank that is licensed by Misr for Central Clearing, Depository and Registry (M.C.D.R) to provide central custodian services of the securities.
• This phase doesn’t require the physical presence of the founders, as it can be handled by having POAs from the founders to Al-Bedeawi & Partners Law Office to undertake this process on behalf of them.
What are the requirements to the coding process?
• A power of attorney “POA” from each founder to undertake the process on their behalf.
• Valid passport copy for each of the shareholders.
The coding process takes on average between 7 to 15 days based on the company or bank to be chosen.
Below we shall illustrate what this coding request looks like by giving you a standard form of such request as per the following:
The form of the official request to code the founders in a joint stock company in Egypt “JSC”:
Attention: The Egyptian Exchange
With regards to your recent disclosure requirements, we would like to issue new code for the below client in the Egyptian market:
Client Name:- Entity Type:
- Domicile:
- Nationality:
- The name of the company delegates:
- Company’s capital:
- Company’s number of shares:
- Shares Type:Below is a list of the Company’s board of directors:- Names
Below is a list of all ultimate beneficial end investors (shareholders) in the COMPANY with 10% or more ownership:
Ultimate Beneficial End Investors (Shareholder) % Nationality
Name 0 -
We hereby undertake to immediately report in case of any change in the above information to EGX even before the end of the three years required to update the unified code.
There are no company stamp
Name
Director
/signature/
- Domicile:
- Nationality:
- The name of the company delegates:
- Company’s capital:
- Company’s number of shares:
- Shares Type:Below is a list of the Company’s board of directors:- Names
Below is a list of all ultimate beneficial end investors (shareholders) in the COMPANY with 10% or more ownership:
Ultimate Beneficial End Investors (Shareholder) % Nationality
Name 0 -
We hereby undertake to immediately report in case of any change in the above information to EGX even before the end of the three years required to update the unified code.
There are no company stamp
Name
Director
/signature/
