Egypt is a large country in North Africa which boarders the Mediterranean Sea and the Red Sea and is home to the highly fertile Nile Valley. Tourism, manufacturing and construction are among the most popular industries in Egypt. Egypt is becoming a more attractive place to set up business. It receives more foreign investment than any other country in North Africa, and it is vital to Middle East and African business. CompanyFormationsWorldwide.com can assist you in setting up a business in Egypt.
Setting up company in Egypt – what are the main considerations?
- Egypt company formation recently has begun allowing 100% foreign ownership in certain fields. These include industry and mining, tourism, real estate development, maritime transport, software design, and electronics production
- Egypt offers competitive corporate tax rates. Corporate tax is generally 20%, however this varies depending on the industry. Other industries are tax exempt, for example agriculture and tourism related companies
- There are no minimum capital requirements for limited liability companies (LLC)
- The General Authority for Investment and Free Zones (GAFI) is the governing body on foreign investment. They assist international investors facilitate their investments within Egypt
- There are specific free zones providing a variety of incentives and benefits. North West Suez Special Economic Zone is one free zone which provides 5% flat rate on personal income tax, 10% corporate tax rate, as well as standard infrastructure
- Investors are free to repatriate the capital and profits which originate from Egypt
- At least one manager for incorporated companies that are wholly foreign-owned need to be Egyptian. This individual does not necessarily need to be a shareholder
CompanyRegistrationsWorldwide.com can provide you with an efficient and professional service, helping you to register a company in this exciting country is the quckest possible timeframe.