Real Estate in Egypt
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mail: info@irisegypt.com
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REGISTER A VENTURE

Do business in Egypt
Before you register a company, you must have a place of business. Either you own a place or you rent it. Is the person who rents the place to you the owner? You might know that in Egypt it is not allowed to sub-let a place. Make the contract for the longest period possible and be sure that you can get out of the contract yourself whenever you want. You must have a rental contract by your name before registering the company.

In Egypt a foreigner cannot create a simple person company. There are basically two choices.

Partnership Company
This is the easiest company to create and to operate. The company is registered with a capital, but this capital doesn't have to be deposited in a bank beforehand. In order to register such a company, you must be at least 2 partners. But, and this is the critical point, at least one partner must be Egyptian and he (or all the Egyptian partners together) must own at least 51% of the company.

The Limited Company
This kind of company can be registered with 100% foreign capital. It must have at least 2 partners.
In any case the company must have at least 1 director who is Egyptian. But he doesn't have to be a partner. You can name 2 foreign directors as well and define that any paper must bear the signature of at least 2 directors. This way you avoid being dependant on the Egyptian director. But you must also be aware that for every problem that occurs the authorities will come to the Egyptian director. And this can sometimes be unpleasant. You should therefore give him a decent fee for this job, even if he isn't really involved in the running of the company. A LLC must have a capital of at least LE 50'000 and this capital must be fully paid in a blocked bank account before the registration of the company. After the registration, this amount is unblocked and serves as running capital for the company.
The Egyptian Government makes a lot of efforts to attract foreign investment (http://www.investment.gov.eg/MOI_Portal/). Therefore they have created a special office to register such companies. IRIS Real Estate have professional lawyers who can help in registering both types of ventures.
 
Tel.: +2 0100 582 33 59; +7 495 287 08 40; +2 0109 0 55 2 888
E-mail: iris.redsea@gmail.com
: 273514866
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