Establishing a limited liability company LLC is one of the most common concerns in the business world. It depends on the partnership between a certain number of individuals, no less than two and no more than 50.
Establishing a limited liability company LLC includes many procedures, measures, contracts and guarantees; to protect the rights of its owners and investors. This article explains everything related to establishing a limited liability company LLC
How to establish a limited liability company in EgyptCopy
Thanks to the new procedures and laws of the new investment law, which is characterized by complete flexibility, which provides a fertile environment for the labor market. The steps for establishing an Egyptian limited liability company LLC are nowmore accessiblethan before. The procedures for establishing a limited liability company LLC are:
1- Fill out the primary contract formCopy
A primary contract is a form that contains all the data and information related to the company, which is written manually before being re-entered electronically; To obtain the approval of the establishment of the company from the competent authority. This contract includes several clauses, including the company's name and address, the purpose of incorporation and its specified period
2- Fill out the security inquiries formCopy
This form is used if the company's partners are of foreign nationality. It is obtained from the Security Information Office at the Investment Authority. Its data is filled out and then handed over to the Investment Authority; To enter data electronically.
3- Issuance of a certificate of non-repetition of the trade nameCopy
This certificate is obtained from the General Investment Authority, and it is preferable not to rush to get it; It has a validity period of a week.
4- Opening a bank accountCopy
In the procedures for establishing limited liability companies, it is not request to open a bank account in establish a limited liability company and the company's capital is not deposited.
A bank account is opened only in the establishment of one-person companies that consist of one partner, and the capital is deposited and the bank immediately freezes the account, preventing its disposal until the commercial register is extracted and the validity and signatures of the partners are reviewed on all papers and documents that have been submitted.
5- Withdrawal of the file follow-up formCopy
Establishing a limited liability companies LLC requires withdrawing the company file follow-up form; To be used in concluding the company contract. This form includes the signature of all partners and their approval of all its terms.
6- Review the documents to ensure that all their conditions are metCopy
One of the routine steps for incorporating a limited liability companies in Egypt is to review papers and records before entering them electronically; To ensure the success of the rest of the steps.
7- Print and pay the feesCopy
After making sure that the papers fulfil all the conditions, payment receipts are received, which must be photocopied into three copies to be used in the establishment procedures.
8- Registering in the land registryCopy
this step, the presence of the original power of attorney and the identity card of the agent of the owners of the company is confirmed. Then the file is transferred to the land registry; To authenticate and sign, only the agent's ID card is allowed and must be valid when signing. Then the approval to establish a limited liability company LLC is granted within 24 hours.
9- Follow up on the incorporation decisionCopy
After 24 hours, the agent must follow up on the decision to establish a limited liability companies.
Then the lawyer delivers the company's file to the Chambers of Commerce. The file includes some other documents, such as:
- Practicing certificate.
- The company's articles of incorporation documented in the land registry.
- The decision to establish the company.
- Originals of commercial registration fee receipts.
10- Issuance of the decision to establish the companyCopy
The application and registration form with the company file are submitted to the Commercial Registry; To review the submitted papers and issue the commercial registration number. Then the decision to establish a limited liability company LLC is made.
Fees for establishing a limited liability company in Egypt LLCCopy
After knowing the papers required to establish a limited liability companies, you should know the costs, which vary according to the documents required, company activity and capital amount,
Which starts from approximately 4000 EGP till 33,000 EGP according to the Law of Joint Stock Companies, Companies Limited by Shares and Liability Companies No. 159 of 1981 for 1981 and 4000 till 43,000 EGP according to investment law 72 for 2017.
What is ECPA, and what are its services?Copy
ECPAis one of the largest accounting and consulting firms in Egypt. The company has extensive accounting and legal expertise and hasgained many clients’ trusts.ECPA servicesfor LLC incorporation include:
- Providing legal advice related to the required papers and documents.
- Preparing the company’s articles of incorporation and employment contracts.
- Reviewing the company’s documents and solving all its problems.
- Reviewing contracts and agreements concluded with the government and their impact on the company.
- Helping you choose theappropriateactivity for the company.
- Registering the headquarters of the institution and its phone numbers.
Frequently asked questions about incorporating a limited liability companyCopy
How do I start a limited liability company LLC in Egypt?Copy
Through the General Investment Authority, after preparing the company's papers and documents. You should have a lawyer to handle the legal instructions properly.
Can foreigners start a business in Egypt?Copy
Yes, any foreigner can establish a company in Egypt without conditions or restrictions after completing the documents, security inquiry and approval of the General Investment Authority.
What is the minimum capital for a limited liability companies LLC?Copy
The minimum amount for establishing a company is about one thousand Egyptian pounds.
What are the advantages of establishing a limited liability company in Egypt?Copy
Self-independence; You are the decision maker and the owner of the capital that can manage and achieve significant profits.
Is it possible to establish a limited liability company LLC without a headquarters?Copy
One of the conditions for obtaining a commercial registration number and incorporation decision is to write an address of headquarters in commercial register.
In summary, the dream of owning a limited liability company LLC is getting easier; With simple procedures, you can establish your company and feel absolute freedom in making decisions, Thanks to thepoliciesand facilities introduced by the government and the services provided by distinguished legal consultancy firms such asECPA.
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