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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.
AlZayat 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 lawyer and facilitating 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 product pricing.
Import and export without restriction exporters and importers.
Record.
There is no Restriction on capital nationality.
No Limits to capital.
2. Exemption of
Capital assets of the project and production requirements of the taxes and customs.
Imports and export free zones projects to and from abroad from taxes and customs duties.
Full local ingredients from customs duties in case of selling to the 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 to litigation until it is approved.
4. In addition to:
Granting accommodation facilities to foreign investors.
Granting residence permits for foreign workers at the request of the Company.
Procedures for 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 issue 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 from 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 a 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:-
Alexandria, Nasr City, Port Said, Suez, Ismailia, Damietta, Shebin El-Kom, Qeft public, Port said East port.
alzayat international law firm is one of the few major law firms with a sophisticated worldwide Private Clients practice. Our unparalleled global resources allow us to provide one-stop, comprehensive service to meet all of our clients’ needs, wherever in the world their assets or family members may be. They also make us uniquely qualified to handle complex, multijurisdictional disputes, that is why our clients have selected us to handle some of the largest cases in this field, Our specialist are ranked in The Legal 500 , hg.org and Global Law Expert as best experts in this field.For any legal inquiries, please do not hesitate to contact us.