The management of a limited liability company may be assigned to one or more directors. At least one director must be of Egyptian nationality. The director(s) must be named in the Memorandum of Association but need not be a shareholder(s). The director(s) shall have full authority to represent the company; unless such authority is limited by the Memorandum of Association. A foreign owner, to be the sole director, must obtain a residence visa and his paid up capital should not be less than €19,000.
The Egyptian limited liability company has a minimum of two shareholders and a maximum of fifty. Shareholder may not transfer their shareholding in the company to third parties without first offering it to existing shareholders.
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.
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.
The minimum share capital of a limited liability company is 1000 EGP (€150). The nominal value of the share cannot be less than 1000 EGP. Any shareholder can sell his or her shares to outsiders providing that he has already offered them to the other shareholders.
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.
You must have a registered office in the Egypt and we provide these services.
Unfortunately, ready made companies are not permitted in Egypt.