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Waleed Al-Helo
Lawyer
الأسئلة المجابة 108892 | نسبة الرضا 98.1%
Lawyer
Is it possible for a foreign national in Egypt to...
Is it possible for a foreign national in Egypt to register and own a small company like importing and exporting company or not?
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إجابة الخبير: Waleed Al-Helo
Waleed Al-Helo
Lawyer
الأسئلة المجابة 108892 | نسبة الرضا 98.1%
Please kindly know that according to the data provided to us in your inquiry, yes and according to the law, a foreigner can do a commercial project and establish the company in Egypt, and then extract the commercial register that allows business in Egypt, but the following conditions and data must be met
The minimum set-up for a sole proprietorship in Egypt is 100,000 EGP, and the full amount is to be paid upon establishing the company.
Egyptian law stipulates that a person who wants to engage in trade must be a fully competent person who has reached the age of twenty-one.
The Egyptian law allows increasing the capital of the individual company in one or more payments, and this is done by issuing new shares or converting the reserve money into shares, the decision of the owner or founder of the company.
The founder or owner of the company can decide to reduce the capital of the company for any reason, whether by reducing the number of shares or reducing the nominal value of each of them, provided that the capital is not less than 100,000 pounds.
**The investment law specified several papers to be presented within the procedures for establishing a sole proprietorship in Egypt, as follows:
A copy of the identity document of the owner of the sole proprietorship, as the case.
Submit a copy of the founding agencies, as the case.
Submit a declaration from the “general partner, his agent, the non-partner manager, or the owner of the facility” that he is not a public employee and does not work for any of the public sector companies or the public business sector.
The minimum set-up for a sole proprietorship in Egypt is 100,000 EGP, and the full amount is to be paid upon establishing the company.
Egyptian law stipulates that a person who wants to engage in trade must be a fully competent person who has reached the age of twenty-one.
The Egyptian law allows increasing the capital of the individual company in one or more payments, and this is done by issuing new shares or converting the reserve money into shares, the decision of the owner or founder of the company.
The founder or owner of the company can decide to reduce the capital of the company for any reason, whether by reducing the number of shares or reducing the nominal value of each of them, provided that the capital is not less than 100,000 pounds.
**The investment law specified several papers to be presented within the procedures for establishing a sole proprietorship in Egypt, as follows:
A copy of the identity document of the owner of the sole proprietorship, as the case.
Submit a copy of the founding agencies, as the case.
Submit a declaration from the “general partner, his agent, the non-partner manager, or the owner of the facility” that he is not a public employee and does not work for any of the public sector companies or the public business sector.
إسأل Lawyer
Waleed Al-Helo
Lawyer
الأسئلة المجابة 108892 | نسبة الرضا 98.1%
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