{"id":3643,"date":"2023-11-04T12:58:11","date_gmt":"2023-11-04T12:58:11","guid":{"rendered":"https:\/\/riad-riad.com\/?p=3643"},"modified":"2023-11-04T21:02:28","modified_gmt":"2023-11-04T21:02:28","slug":"egypt-removes-restrictions-on-obtaining-importation-license","status":"publish","type":"post","link":"https:\/\/riad-riad.com\/egypt-removes-restrictions-on-obtaining-importation-license\/","title":{"rendered":"Egypt Removes Restrictions on Foreign Companies to Obtain Importation License"},"content":{"rendered":"\n

The Egyptian Importer Registry Law No. 121\/1982 is amended to allow companies wholly owned by non-Egyptians to obtain an importation license and carry out importation business for trading purposes freely. The law previously mandates that a company must be at least 51% owned by Egyptians.<\/p>\n\n\n\n

An Egyptian company that is wholly or partially owned by non-Egyptians is now qualified for an importation license in case it satisfies the following main conditions:<\/p>\n\n\n\n

    \n
  1. A minimum share capital of EGP 2,000,000 (USD 64.0k);<\/li>\n\n\n\n
  2. A minimum business turnover of at least EGP 5,000,000 (USD 160.0k) during the year preceding the submission of the application for the license (as recorded in the tax return); and<\/li>\n\n\n\n
  3. payment of an insurance amount of EGP 200,000 (USD 6.4k) to be refunded upon expiry or termination of the importation license.<\/li>\n<\/ol>\n\n\n\n

    The importation license will be issued for up to 10 years that is renewable to another 10 years by virtue of a resolution from the Cabinet. <\/p>\n\n\n\n

    If you need more information about the new law or any assistance in getting your importation license, please contact Dr. Fatma Salah<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

    The Egyptian Importer Registry Law No. 121\/1982 is amended to allow companies wholly owned by non-Egyptians to obtain an importation license and carry out importation business for trading purposes freely. The law previously mandates that a company must be at least 51% owned by Egyptians. An Egyptian company that is wholly or partially owned by … Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":3644,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,6],"tags":[291,229,295,292,294,293,30,290],"yoast_head":"\nEgypt Removes Restrictions on Foreign Companies to Obtain Importation License - riad-riad.com<\/title>\n<meta name=\"description\" content=\"Egypt Removes Restrictions on Foreign Companies to Obtain Importation License Publications\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/riad-riad.com\/egypt-removes-restrictions-on-obtaining-importation-license\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt Removes Restrictions on Foreign Companies to Obtain Importation License - 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