Free Zones are a gateway to investment in Egypt, since its establishment in 1971 it provides the best advantages, incentives, exemptions, and guarantees, and much more freedom on transactions the Imports, as it is not subject to the same import and export procedures applied in the country.
Al Zayat Law Firm can offer success factors, if you need to invest in the free zone in Egypt, through an integrated system by a specialized professional lawyers and facilitating in investment procedures and services.
With your investment in Egyptian Free zones you will get many incentives and guarantees, such as:
1. Freedom in
Choosing investment field.
Transfer of the profits and invested money.
Import from both domestic and external markets.
specify products pricing.
Import and export without restriction exporters and importers.
There is no Restriction on capital's nationality.
No Limits to capital.
2. Exemption of
Capital assets of the project and production requirements of the taxes and customs.
Imports and exports free zones projects to and from abroad from taxes and customs duties.
Full local ingredients from customs duties in case of selling to domestic market.
3. Be ensured that:
It is not possible to nationalize or confiscate the company or its assets.
It is not possible for the project to be subject of litigation until it is approved.
4. In addition to:
Granting accommodation facilities to the foreign investors.
Granting residence permits for foreign workers at the request of the Company.Procedures of establishing a Public Free Zone Project:
The investor submits a request for establishing a new Free Zone project to the Free Zone administration (chosen Free Zone).
The Permanent Technical Committee studies the application form to issuea preliminary approval on establishing the project.
The investor pays 10% from the annual rental value with a minimum value of 1000 USD as a notion of confirmation.
Then, the application is submitted to the chosen zone board of directors for issuing the final approval for establishing the project.
The assigned land is handed after paying the rental value for the first year in advance and deducting the 10% paid as a notion of confirmation (after issuing preliminary approval and paying the rental value of the first year, the land can be handed over to the investor).
Issuance of land license.
After getting the final approval to the investor or his representative submit
the incorporation contract to the General Authority for Investment where all the incorporation.The following procedure will be submitting to the Zone administration:
1) A letter of Guarantee or a financial guarantee according to GAFI’s rules.
2) Payment of the due fees for GAFI’s services for a whole year.
3) The architectural drawings of the constructions of the project (in Triplicate).
4) The project shall publish the company contract briefing, the decree of license and the company registry in the investment magazine.
5) The decree of practicing the activity of the project is issued by the Head of the board of director of the Public Free Zone.
After that the Free Zone Administration shall notify the concerned authorities with the decree of practicing the activity (The Project - Tax Authority-Custom Department – Commercial Registry - Social Insurance Authority-Central Administration for Statistics –General Authority).
The project should have the taxation card and Sole proprietorship and branches should be registered in the Commercial Registry.
Public Free Zones in Egypt
Port said East port