Page 57 - EGYPT - En Vol.4 HD

E gypt
Snapshot of E gypt 55
3. The General Authority of Investment and Free Zones launched First tenders has been launched to give investors an opportunity to submit
e-incorporated Company via GAFI E-portal to facilitate investors and and follow up on their proposals electronically.
create an attractive climate for investment.
11. Issuing incentives decisions for the distribution of sub-sectors for
4. The General Authority of Investment and Free Zones reduces the number investment activities according to the nature of each activity to receive
of documents required from companies for the purpose of facilitation additional incentives into subsectors and granted additional incentives
for investors. appropriate to the nature of each project, and forming the Special

5. The General Authority of Investment and Free Zones adopts the concept Incentives Unit, thereby putting the special incentives package accorded
of promoting private sector opportunities through its promotional by the Investment Law No. 72 of 2017 into practice.
platforms. 12. Forming at the Council of Ministers an ad-hoc unit dedicated to solving
6. Putting GAFI’s digitalization plan into action. investors' problems, its main task is to coordinate solving and to address
expediently any obstacle or complaint related to investment.
7. Forming the Golden License Unit, which grants companies incorporated
to launch strategic or national projects contributing to development a
comprehensive approval (Golden License) encompassing all permits and Time and Cost Needed to Startup Business in Egypt*
licenses required for setting up, operating, and managing the company's
project.
One working day* Minimum Capital
8. Permitting build-to-own and usufruct options when it comes to Time Required to Establish
allocating industrial lands, while basing the pricing of such land on the a Company Joint Stock Companies,
Partnerships Limited by Shares:
value of the utilities. Issued Capital EGP 250 Thousand,
of which 10% is deposited upon
9. Granting foreign investors, a five-year residence visa that may be 20 Business day** corporation
renewed so as to facilitate their residence in Egypt, and streamlining Time Required to Issue Single- Member Companies: ***
investor-related-security- clearance procedures. Project’s Permits Minimum Capital EGP 1000 upon
incorporation.
10. Launching an updated version of Investment Map website, the website limited liability companies:
has been redesigned to give an easier access to investment opportunities * According to Investment Law No.72 of 2017. There is No Minimum Capital
** According to Prime Minister Decree No.982 of 2022
and to include the main trade conventions between Egypt and other *** According to Prime Minister Decree No.2928 of 2022
states worldwide. A new integrated system encompassing offerings/
Source: GAFI - 2023