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.