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The Executive Director’s Decision of the General Authority for Investment and Free Zones No. (270) for the year 2023

GAFI Decision

After reviewing the Joint Stock Companies Law, Stock Recommendation Companies, Limited Liability Companies, and One-Person Companies issued by Law No. 159 of the year 1981 and its executive regulations and amendments, and the Investment Law issued by Law No. 72 of the year 2017 and its executive regulations,

and based on the executive decision of the President of the General Authority for Investment and Free Zones No. (480) of the year 2016,

and the report of the committee formed by Administrative Decision No. (6) of the year 2023, chaired by the counselor, Deputy Executive President of the General Authority for Investment and Free Zones for Legal Affairs, to study the reduction of the number of documents required to be submitted during the provision of post-legal establishment services by the Authority.

In light of the presentation made by the counselor, Deputy Executive President of the General Authority for Investment and Free Zones, and for the benefit of the work,

Has decreed:

Article 1:

Reducing the number of documents required to be submitted during the provision of post-legal establishment services by the Authority in the Central Legal Administration for Investor Service Centers, by dispensing with the following documents:

  1. Accreditation request and declaration of the accuracy of the information.
  2. Nomination letters for members and managers of companies.
  3. Acceptance declarations for the appointment of members and managers of companies.
  4. Resignations of members and managers of companies.
  5. Appointment document for accountants.
  6. Acceptance declarations for the appointment of accountants.
  7. Meeting attendance delegations.
  8. Document proving the ownership of a branch or location of the company.
  9. Resignation of the accountant.
  10. Death certificate of the accountant.
  11. Minutes of the board meeting calling for a meeting.
  12. Minutes of the partnership assembly amending the company’s contract.
  13. Death certificate + inheritance notice + certificate from the Egyptian Stock Exchange for the distribution of the deceased’s shares to the heirs (for joint-stock companies in case of the death of a shareholder).
  14. Death certificate + inheritance notice + certificate from the accountant for the distribution of the inheritance according to legal notice under his responsibility (in case of the death of a partner).

Article 2:

Amendment of the first paragraph of Article 3 of the executive decision No. (480) of the year 2016 by adding a new paragraph at the end of the chairman’s meeting resolution as follows: (The chairman of the meeting acknowledges retaining all documents and supporting documents for what was stated in the meeting at the company’s headquarters, its agreements, and the provisions of the law, the company’s basic system and its amendments or the company’s contracts and amendments, and commits to submitting them upon request).

Article 3:

This decision shall be published on the Authority’s website, on display screens and bulletin boards at Investor Service Centers, and shall take effect ten days from its issuance date. All concerned parties are required to implement it in their respective capacities.

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