28th of May, 2018
How to Incorporate a Company
How to Incorporate a Company
Keywords: Commercial
As we previously posted, LLCs are the most common choice for SMEs and startups; therefore, we are mainly focusing in this post on incorporation requirements pertinent to LLCs, taking into account that there are very few differences in incorporation processes between types of companies.
There are three main phases for incorporating a company.
Initial Phase: “Preparation Phase”
This is the phase where the most time and effort is expended, and it includes:
Deciding upon the company type (i.e. your legal structure);
Appointing the company’s auditor and the founders’ attorney, who will be responsible for undertaking all procedures on behalf of the founders;
Opening a bank account for the company and depositing the full amount of the allocated capital (since it’s an LLC). It is worth noting that this capital will be frozen throughout the incorporation procedures;
Preparing all required documents.
Second Phase: “Incorporation Procedures”
LLC incorporation procedures are concluded before GAFI (the General Authority for Foreign Investment). GAFI is considered to be a one-stop-shop that offers a wide range of services for companies, including all incorporation procedures.
This phase includes presenting the aforementioned documents and undertaking incorporation procedures before the relevant entities/officials in GAFI until you have reached the final stage, which is the registration of the company in the commercial registry.
These procedures usually take three to five working days, depending on GAFI’s capacity. However, incorporation procedures may only take a few hours if concluded through the VIP system, which offers extremely speedy service, allowing the founders or the founders’ attorney to communicate with only one official, a very efficient process. The fees for such a service are currently 7,500 EGP, but we are expecting these to increase within the year. It is worth noting that GAFI will soon operate a new electronic incorporation procedure system. This online portal is now available; however, it is not in active operation yet.
If you need further information on regular incorporation process and documents, please follow this link:
http://www.lawforall.info/index.pl/incorporation_of_llcs
Third Phase “Post-Incorporation Procedures”
This phase includes unfreezing the company’s bank account, along with the issuance of its tax card and commercial ledgers.
Further information on post-incorporation process could be found on our website:
http://www.lawforall.info/index.pl/post_incorporation_procedures
There are three main phases for incorporating a company.
Initial Phase: “Preparation Phase”
This is the phase where the most time and effort is expended, and it includes:
Deciding upon the company type (i.e. your legal structure);
Appointing the company’s auditor and the founders’ attorney, who will be responsible for undertaking all procedures on behalf of the founders;
Opening a bank account for the company and depositing the full amount of the allocated capital (since it’s an LLC). It is worth noting that this capital will be frozen throughout the incorporation procedures;
Preparing all required documents.
Second Phase: “Incorporation Procedures”
LLC incorporation procedures are concluded before GAFI (the General Authority for Foreign Investment). GAFI is considered to be a one-stop-shop that offers a wide range of services for companies, including all incorporation procedures.
This phase includes presenting the aforementioned documents and undertaking incorporation procedures before the relevant entities/officials in GAFI until you have reached the final stage, which is the registration of the company in the commercial registry.
These procedures usually take three to five working days, depending on GAFI’s capacity. However, incorporation procedures may only take a few hours if concluded through the VIP system, which offers extremely speedy service, allowing the founders or the founders’ attorney to communicate with only one official, a very efficient process. The fees for such a service are currently 7,500 EGP, but we are expecting these to increase within the year. It is worth noting that GAFI will soon operate a new electronic incorporation procedure system. This online portal is now available; however, it is not in active operation yet.
If you need further information on regular incorporation process and documents, please follow this link:
http://www.lawforall.info/index.pl/incorporation_of_llcs
Third Phase “Post-Incorporation Procedures”
This phase includes unfreezing the company’s bank account, along with the issuance of its tax card and commercial ledgers.
Further information on post-incorporation process could be found on our website:
http://www.lawforall.info/index.pl/post_incorporation_procedures
How to Incorporate a Company
28 May, 2018
Keywords: Commercial
As we previously posted, LLCs are the most common choice for SMEs and startups; therefore, we are mainly focusing in this post on incorporation requirements pertinent to LLCs, taking into account that there are very few differences in incorporation processes between types of companies.
There are three main phases for incorporating a company.
Initial Phase: “Preparation Phase”
This is the phase where the most time and effort is expended, and it includes:
Deciding upon the company type (i.e. your legal structure);
Appointing the company’s auditor and the founders’ attorney, who will be responsible for undertaking all procedures on behalf of the founders;
Opening a bank account for the company and depositing the full amount of the allocated capital (since it’s an LLC). It is worth noting that this capital will be frozen throughout the incorporation procedures;
Preparing all required documents.
Second Phase: “Incorporation Procedures”
LLC incorporation procedures are concluded before GAFI (the General Authority for Foreign Investment). GAFI is considered to be a one-stop-shop that offers a wide range of services for companies, including all incorporation procedures.
This phase includes presenting the aforementioned documents and undertaking incorporation procedures before the relevant entities/officials in GAFI until you have reached the final stage, which is the registration of the company in the commercial registry.
These procedures usually take three to five working days, depending on GAFI’s capacity. However, incorporation procedures may only take a few hours if concluded through the VIP system, which offers extremely speedy service, allowing the founders or the founders’ attorney to communicate with only one official, a very efficient process. The fees for such a service are currently 7,500 EGP, but we are expecting these to increase within the year. It is worth noting that GAFI will soon operate a new electronic incorporation procedure system. This online portal is now available; however, it is not in active operation yet.
If you need further information on regular incorporation process and documents, please follow this link:
http://www.lawforall.info/index.pl/incorporation_of_llcs
Third Phase “Post-Incorporation Procedures”
This phase includes unfreezing the company’s bank account, along with the issuance of its tax card and commercial ledgers.
Further information on post-incorporation process could be found on our website:
http://www.lawforall.info/index.pl/post_incorporation_procedures
There are three main phases for incorporating a company.
Initial Phase: “Preparation Phase”
This is the phase where the most time and effort is expended, and it includes:
Deciding upon the company type (i.e. your legal structure);
Appointing the company’s auditor and the founders’ attorney, who will be responsible for undertaking all procedures on behalf of the founders;
Opening a bank account for the company and depositing the full amount of the allocated capital (since it’s an LLC). It is worth noting that this capital will be frozen throughout the incorporation procedures;
Preparing all required documents.
Second Phase: “Incorporation Procedures”
LLC incorporation procedures are concluded before GAFI (the General Authority for Foreign Investment). GAFI is considered to be a one-stop-shop that offers a wide range of services for companies, including all incorporation procedures.
This phase includes presenting the aforementioned documents and undertaking incorporation procedures before the relevant entities/officials in GAFI until you have reached the final stage, which is the registration of the company in the commercial registry.
These procedures usually take three to five working days, depending on GAFI’s capacity. However, incorporation procedures may only take a few hours if concluded through the VIP system, which offers extremely speedy service, allowing the founders or the founders’ attorney to communicate with only one official, a very efficient process. The fees for such a service are currently 7,500 EGP, but we are expecting these to increase within the year. It is worth noting that GAFI will soon operate a new electronic incorporation procedure system. This online portal is now available; however, it is not in active operation yet.
If you need further information on regular incorporation process and documents, please follow this link:
http://www.lawforall.info/index.pl/incorporation_of_llcs
Third Phase “Post-Incorporation Procedures”
This phase includes unfreezing the company’s bank account, along with the issuance of its tax card and commercial ledgers.
Further information on post-incorporation process could be found on our website:
http://www.lawforall.info/index.pl/post_incorporation_procedures
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