Politics
Egypt Registers First Single-Owner Company Under New Companies Law
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Egypt Registers First Single-Owner Company Under New Companies Law
Egypt’s investment minister has delivered the founding papers for the first sole-owner company, a new legal entity aimed at simplifying business registration for small ventures.
- Minister Sahr Nasr handed over the incorporation documents for the first single-owner company to two entrepreneurs at the Investor Services Center.
- Founders Sherif Gamal and Mohamed Abdel Monem said their company will build a furniture factory in an industrial zone, with capital of 50,000 Egyptian pounds.
- Nasr stated that the single-owner company is a result of the largest amendment to the Companies Law, designed to encourage small enterprises and formalize informal businesses.
- MP Amr Gholab said the new company type will help improve Egypt’s ranking in international investment climate reports.
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