Establishing a General Partnership in Egypt
What is a General Partnership? A General Partnership is a business entity formed by two or more partners, all of whom are jointly and personally liable for the company’s obligations. It is considered one of the simplest types of companies, often used for small or medium-sized businesses
Alaa Eldebeki - • Information about Legal advice and incorporation work
What is a General Partnership?
Copy- A General Partnership is a business entity formed by two or more partners, all of whom are jointly and personally liable for the company’s obligations.
- It is considered one of the simplest types of companies, often used for small or medium-sized businesses.
Key Characteristics of a General Partnership
Copy- Unlimited Liability: Partners are personally and jointly liable for all debts and obligations of the company.
- Trade Name: Usually includes the name(s) of one or more partners followed by “and Partners”.
- Personal Trust: The partnership is based on mutual trust between partners; shares cannot be transferred without the others’ approval.
- Non-Tradable Shares: Shares cannot be sold or traded publicly like in corporations or LLCs.
Steps to Establish a General Partnership in Egypt
Copy- Drafting the Partnership Agreement: It includes partner details, capital, management structure, profit and loss distribution, and business address.
- Contract Authentication: The agreement is notarized at the official Real Estate Registration Office.
- Commercial Registration: The company is registered in the Commercial Register via the General Authority for Investment (GAFI).
- Tax ID and Insurance File: Necessary to begin legal operation of the business.
Required Documents
Copy- National ID copies of all partners.
- Notarized partnership contract.
- Payment receipt for registration fees.
- Application form from GAFI.