Real Estate in Egypt
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mail: irisestate.redsea@gmail.com
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Register a Venture

become successful in Egypt
Registration of a company

Before you can register a company, you must have a place of business. Either bought or rented. Do you rent directly from the owner? You may know that in Egypt it is not allowed to "sublet" apartments. Make the contract for as long as possible and make sure that you can terminate the contract yourself whenever you want. You must have a lease on your behalf before a company can be registered.

In Egypt, a foreigner can set up a business as a simple person. There are basically two options:

Partnership company
This is the easiest way to start and run a business. The company is registered with a capital, the capital does not have to be deposited in a bank beforehand. To register such a company you need to have at least 2 partners. But, and this is the crucial point, at least one partner must have Egyptian nationality and he (or all Egyptian partners) own at least 51% of the society.

The limited liability company
This type of company can be registered with 100% foreign capital. There must be at least two partners.
In any case, the company must have at least one director with Egyptian nationality. This does not have to work in the company.

You can also name and define 2 foreign partners, but each one is responsible and liable with his signature. This is how you can avoid becoming dependent on an Egyptian director.

But you must also be aware that for any problem that may arise from the authorities, the Egyptian director can be held responsible. And that can be uncomfortable at times. Hence, you should give him a decent salary for this job, even if he is not really involved in running the company, he is liable.

Each partner must pay in a capital of at least LE 50,000 into a "blocked account". This is done before the company is registered. After registration, this amount is released and serves as running capital for the company.
The Egyptian government is making a lot of effort to encourage foreign investment. (http://www.investment.gov.eg/MOI_Portal/). Therefore, a special office was created to register such companies. IRIS Real Estate has professional attorneys who can help with registration for both types of projects.
Tel.: +2 0109 0 55 2 888
E-mail: irisestate.redsea@gmail.com
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