The new requirements to register an importation companies in Egypt as per the new law.

Based on the provisions of Law No. 173 of 2023, certain amendments have been made to Law No. 121 of 1982. These amendments allow foreigners to own 100% of the capital of import companies. In this article, we will discuss the required documentation for registering companies in the Importers Register.

Required documentation for the registration in the Importers Register includes:

1.         Registration and Re-registration Form: A duly filled-out form, signed by authorized individuals, either in the presence of the designated employee or by an authorized agent.

2.         Documentation for Agents (if applicable): This includes a notarized copy of the power of attorney, along with its original version for reference purposes. Additionally, a copy of the agent's national ID card or passport, along with its original version for reference, is required. A signed declaration confirming the validity of the power of attorney is also necessary.

3.         Documentation for Importers: Individuals listed in the commercial register as importers need to provide a copy of their national ID card or passport. The responsible person for import operations should be an Egyptian national and must provide the original and a copy of their national ID card, as well as their birth certificate. A signed declaration for the Importers Register should be submitted to the designated employee or certified by a bank representative.

4.         Group 6 Declaration (for chemical industry products): If the company is eligible for Group 6 designation, a declaration signed by authorized individuals or an authorized agent is required.

5.         Company Registration Documents: These include an official copy of the company's article of association, as well as any registered and authenticated amendments. The commercial register must confirm that the paid-up capital is not less than 2 million Egyptian pounds and that the company's activity is related to imports. Foreign ownership of 100% of the capital is allowed.

6.         Recent Commercial Register Extract: A recent and valid extract from the company's commercial register, issued no more than three months prior, is required. The commercial register should reflect at least one year of import activity, and the responsible person for imports must be of Egyptian nationality.

7.         Tax-related Documents: This entails providing a copy of the latest approved tax statement from the Egyptian Tax Authority. The total business volume in the year before registration in the Importers Register should amount to at least 5 million Egyptian pounds.

8.         Tax Card and Import Activity Details: A copy of the tax card that matches the information in the commercial register, clearly indicating the import activity, should be provided. Alternatively, the basic document containing the company's information, specifying the import activity, can be submitted. The original versions should be provided for reference.

9.         Certificate of Import Activity: The responsible person for imports must provide an original certificate from the Social Insurance Authority, certifying their engagement in import activities. Alternatively, a copy of the payment receipt for the import training course or a letter confirming the reservation of the training course from the Regional Center for Foreign Trade Training or the Chamber of Commerce can be submitted.

10.       Social Insurance Barcode Card: The original version of the social insurance barcode card (S1 Insurance) should be provided, along with a copy of the national ID card, birth certificate, and the original versions for reference.

11.       Insurance Deposit: A receipt for depositing an insurance amount of 200,000 Egyptian pounds into the treasury of the General Authority for Export and Import Control should be submitted. This payment can be made via Visa or through a bank letter confirming the deposit in the authority's account. Alternatively, an unconditional final bank guarantee in favor of the General Authority for Export and Import Control can be provided. The guarantee should be issued by the bank and should specify the Imports Affairs department, address, and the value of the insurance on a new import card in the name of the company, as per the commercial register. The insurance duration should be 5 years, with an insurance value of 200,000 Egyptian pounds.

12.       Banking Certificate: A certificate from the bank confirming the payment of the full capital amount (2 million Egyptian pounds) should be provided if the commercial register does not explicitly state that the paid and disbursed amounts of capital are 2 million pounds.

Importers have the right to register the relevant groups based on the specified import activities in the company's commercial register.