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Doing Business In Egypt

At Glance

• Population: 92m people.

• Space: 1m km square.

• Capital: Cairo (20m people).

• Corporate Tax rate is 22.5%.

• VAT rate is 14%.

• Incorporation under Companies Law No.151 (1981).

• Registration with the General Authority for Investment (GAFI) is required.

• 5 Public Free-Zones subject to 1% dues.

Want to incorporate in Egypt? How Can we help you?

Phase 1 Consider your options and set the strategy

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•Determine market opportunity and entry strategy.

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• Gain local market insight.

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• Road-test your business plan.

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• Conduct a readiness assessment.

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• Conduct a risk assessment.

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• Prepare an advisory report – business structure, tax implications, regulatory issues, legal requirements.

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• Design the project plan (including critical steps, timeline, governance and resourcing).

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• Define roles and responsibilities.

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• Communicate with stakeholders.

Phase 2 Implementation and set-up

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• Create a pool of relevant advisers – finance, bankers, legal, employment, insurance and property.

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• Establish a legal presence and notify the authorities that you’ve set up your business – Incorporate as a company or LP – Register as a permanent establishment – Register for taxes – Register for payroll and Social Insurance Authority.

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• Set up a Egyptian bank account.

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• Set up a Egyptian-compliant accounting system.

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• Select suitable accounting policies.

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• Provide people management services – senior recruitment, reward and advice.

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• Seek financial services regulatory advice.

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• Produce employment contracts, identify employee benefits and incentives, and register foreign employees.

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• Put insurance arrangements in place.

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• Consider debt and equity structures.

Phase 3 Aftercare

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• Provide advice and support on an ongoing basis or transition in-house. Short, medium or long-term help – depending on your individual requirements – is available in the following areas:

 

– Payroll taxes and relevant returns – Corporation tax returns

– VAT returns

– Statutory accounts

– Year-end statutory audit requirements

– Management accounts

– Company secretarial services

– Ongoing bookkeeping services

– Pension schemes and employee incentives

– People management services

– senior recruitment, reward and advice

– Further expansion and capital acquisitions

– Transfer-pricing issues

– Research and development tax credit claims

– Exit strategies

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