Egypt - LLC Company Incorporation
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| Company Type | Time to Incorporate | Cost |
|---|---|---|
| LLC | 1 week | £4200 |
Egypt Key points
- 1 week to incorporate
- The cost of incorporation is £4200
- 100% foreign ownership of companies
- One director must be of Egyptian nationality - We can provide you with a nominee
- Only 2 shareholders are required with no restriction placed upon nationality or residency
- The minimum issued capital of a limited liability company is approximately €150
- We provide you with full expert assistance throughout every step of the company formation process
The Egyptian limited liability company is a closed company where the liability of each of its shareholders is limited to the value of his or her shares.
Documents and Information
To incorporate a company in Egypt we require the following:
- The name of the company
- Name and address of the directors
- Name and address of the shareholders
- Proof of identity. Either passport, national identity card, photographic driving licence
- Proof of residential address. Gas/electricity bill or credit/debit card bank statement dated within the last 3 months
Incorporating your LLC
The founding shareholders of the company must submit an application requesting permission to incorporate a limited liability company. The ministerial decision implementing the Commercial Companies Law outlines the mandatory provisions that must be included in the Memorandum of Association.The company is incorporated once it is registered in the Commercial Register. The company must also maintain a Register of Partners in its head office, which must contain the names, nationalities, domiciles and occupations of the partners; the number of shares owned by each partner; the sum paid by each; and the assignment or transfer of shares and related relevant information.
Company Name
The trade name of the limited liability company is usually derived from its object, but may also include the name(s) of one or more of its partners. Additionally, the words 'Limited Liability Company' must be included in the name. Certain words are prohibited such as names suggesting the patronage of any Government or country. A name may be reserved for 10 days.Directors
- At least one director must be of Egyptian nationality.
- Only one director is required.
- There are no nationality or residence restrictions on other directors.
- The director can be a person or a corporation.
Shareholders
- Shareholders may be of any nationality and may reside anywhere
- Two shareholders are required.
- No more than 50 shareholders.
- The shareholder can be a person or a corporation.
Share Capital
The minimum share capital of a limited liability company is 1000 EGP (appoximately €150). The capital should be fully paid up on foundation. The nominal value of the share cannot be less than 1000 EGP. The shares cannot be traded in the stock exchange, however, any partner can sell his or her shares to outsiders, given that he has already offered them to the other partners and they declined to buy them. If a foreign partner(s) in a limited liability company wishes to repatriate his or her capital out of Egypt, he or she has to sell his or her shares or liquidate the company (if he or she actually owns all or most of it), deposit the proceeds of sale or liquidation in an account at one of the accredited banks in Egypt, and the bank will realise the required repatriation of the funds, free of any taxes or duties. A limited liability company which has a share capital equal to or exceeding the minimum share capital of a closed joint stock company (i.e. 250,000 EGP, appoximately €32,000) has to allocate at least 10% of the profit to be distributed among its partners to its employees as profit sharing, but with a maximum of 100% of their annual salaries.
Registered Office
You must have a registered office in the Egypt. Formacompany provide these services.