Joint Stock Company

General regulations to incorporate a Joint Stock Company

• The minimum number of founders is (three) either were competent normal persons or legal entities.
• The minimum Issued Capital is “L.E.250000” – to pay 10% when incorporating and to reach 25% during three months starting from registering the company in the Commercial Register, the maximum Authorized Capital is (ten times the Issued Capital).
• Foreigners can be partners (%100) – except activities limited to Egyptians or requires a minimum participation rate in order to operate.
• Minimum number of Board of Directors is “three”, may some or all members are not shareholders and may all be foreigners.
• The Statue of the Company may stipulate multiple representatives of the legal entity in the Board of Directors, and each representative is counted in forming the Board, quorum of its meetings, and in voting.
• The minimum value of stock (ten piasters) and the maximum is (L.E.1000) or what equal it in foreign currencies.
• Minors can take part in the company as subscribers under the guardianship of their natural guardian with a money that is donated by the natural guardian for such purpose, in the event of the minors participate from their own money a court permission should be obtained from the competent court.
• Evaluation of in-kind shares in capital is conducted by a committee formed for this purpose in GAFI and it shall not exceed its percentage 75% of total capital.