Limited Partnerships-Youssry Saleh Law Firm

Limited Partnerships

Limited partnership by shares is very similar to the joint stock company with the exception that at least one of the founders has limited liability.

Some restrictions also apply such as prohibition from operating in the field of insurance, banking sector, investment on behalf of third parties. Therefore, prior understanding of the legal structure is important. Youssry Saleh & Partners lawyers in Egypt help clients in the incorporation of their Limited Partnerships in Egypt

According to the Commercial Law, the foreign entity can partake as a limited partner in limited partnerships incorporated under the Egyptian law.

Accordingly, certain policies and regulations shall be relevant:

  • The registration with the commercial registry is a must
  • Insurance and banking along with activities, forced by pertinent laws and regulations, are the only limitations of the scope of activities
  • Taxes on company profits are imposed
  • As for the expatriation of funds, the same regulations as for the branches shall apply, with the exception that there is no need to obtain a tax clearance certificate before transferring the foreign currency abroad
  • The same comments as for the branches apply in case of limited partnerships
  • There are no set requirements regarding profit sharing

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