This section discusses the case of foreign entities marketing their products to Egypt directly without the requirement of business entity incorporation in Egypt but with the help of certain form of representation.
Legal Framework :Post 25th of January, 2011 Revolution Direction following Revolution of 25th of January, 2011, Egypt has been heading towards the future in a slightly different track. Political and economic distress has led to significant changes
Import :Import is strictly regulated by the Egyptian government permitting Egyptian nationals only and fully owned and managed Egyptian companies to import into Egypt. For importation into Egypt for the purpose of trade, companies/individuals should register with the Register of Importers.
The Egyptian legal system is greatly influenced by the French Civil Code System. The main comprehensive code in Egypt is the Civil Code No. 131 for the year 1948 that covers vast types of transactions between individuals including personal rights, contracts, obligations and torts.
Foreign enterprises wishing to conduct business in Egypt may enter the Egyptian market by establishing a permanent legal structure. Foreign investors are permitted to establish various types of entities by the Egyptian law. These entities may have either permanent presence as Limited Liability Companies ( LLC) and Joint Stock Companies or temporary presence as Foreign Branch Offices and Foreign Representative Offices. Generally, investment in Egypt is subject to the Egyptian Corporate Commercial Law, however, if the entity invests in certain fields, it might obtain benefits from the Egyptian Investment Law.
The Franchise system has become essential in all countries of the world in light of the global economic changes, which aims to open markets and drop barriers to goods and capital, providing the latest marketing systems, management, transfer of technology, expertise and job creation opportunities in most productive and service sectors.
Foreigners’ business activities are frequently conducted in Egypt by appointing an intermediate commercial agent or an authorized distributor by means of Commercial Agreements. Prior to the effective date of the new Commercial Code, Egyptian Commercial Agency Law was more liberal in comparison with many other jurisdictions. Commercial agency agreements in Egypt could be limited in time and, as a rule, the matter of compensation for termination was to be decided by the mutual consent of both parties.
Al Waqa’ea Al Misreya – No. 83 Cont. (A) on 19th April 2014 Ministry of Trade, Industry and Investment Decision No. (267) for 2014 (councils of small exporters and innovated exports)For reformation of the exportation councils for non-traditional exports
Al Waqa’ea Al Misreya – No. 92 on 22nd April 2014 Ministry of Manpower and Immigration Decision No. 127 for 2014 Minister of Manpower and Immigration Regarding disposition of the collection of pecuniary penalties imposed on workers
Official Gazette – No. 18 Bis (B) on 6th May 2014 The Presidential Decision by the Law No.34 for the year 2014 of the System of the Suez Canal Authority system Regarding the amendment of some Provision for the Law No. 30 for the year 1975
Al-Waqa’ea Al-Misria – No. 75 (Cont.) on 1st of April 2014 :Ministry of Finance With the delegation of some competencies Minister of Finance Decision No. 129 for 2014 .Upon review of the Law of Taxation of the Erected Estates promulgated by the decision of the Minister of Finance No. 493 for the year 2009 and its amendments; and what is demanded by the interest of work;
“Liability” means: (mass noun) The state of being legally responsible for something. (count noun) (usually liabilities) A thing for which someone is responsible, especially an amount of money owed. (usually in singular)A person or thing whosepresence or behavior is likely to put one at a disadvantage:
Al-Waqa’ea Al-Masreya – No. 82 on 9th April 2014 The General Authority of Financial Supervision The Authority’s Board Decision No. 34 for 2014 Dated 12/3/2014 Regarding the investment governances of real estate investment portfolios
Decisions of the Board of Directors of:The Egyptian General Authority for Standards and Quality Issued by the Board number 310 New – modified – cancelled – updated – adopted – corrected Regarding endorsement of Egyptian standards
During March 2014; the government of the Arab Republic of Egypt and the Egyptian Ministry of Petroleum have entered recently into several concession agreements regarding petroleum exploration and exploitation with several foreign petroleum companies, such as:
Official Gazette – No. 13 Bis (a) on 29 March 2014 Prime Minister Decision No. (514) for the year 2014 regarding the formation of a committee for follow up on the legal aspects pertinent to the Nile’s water and the Ethiopian dams Prime Minister
Official Gazette-No.12 (bis) in 23 March 2014. Decision by the Prime Minister No.489 for the year 2014 The Prime Minister Upon review of the amended constitution promulgated on the eighteenth of January of 2014; and