Foreign investors may register as importers in Egypt per draft law

Foreign investors will be able to register as importers in Egypt, according to a draft law approved by the cabinet Thursday.

As per decisions made during a meeting of the Supreme Investment Council on May 16, 2023 to attract foreign investors, the draft law stipulates that the importer register is permitted for joint-stock companies, partnerships limited by shares, limited liability companies, or partnerships in which the shares or stakes of the partners are not owned by Egyptians. However, if Egyptians own just below 51%, the company may register.

The total registration term should not exceed 10 years from the date of enforcement the new law.  Registration may be extended for another term of 10 years if recommended to the cabinet by the minister of trade.