How to obtain an investor residence in Egypt as per the Egyptian companies’ law?

The procedures of obtaining an investor residence in Egypt is different based on the law of incorporation and we discuss hereinafter How to obtain an investor residence in Egypt as per companies' law.

Due to its unique geographical and strategic location, and the development of its economic performance, the Arab Republic of Egypt (A.R.E) is one of the most attractive countries for investment and investors, as the Egyptian Government follows a careful approach to attract investors to increase investment activity in the state. The Egyptian Government provides facilities for foreigners and investors to enjoy residency in Egypt, whatever the purpose. An investor wishing to invest in Egypt is granted a residence through the General Authority for Investment and Free Zones (GAFI). This residence is granted, for the first time, for one year, and for the second time, it may be renewed for three years and then renewed for five years. It may be granted to the investor and his/her first-degree relatives, after receiving the security clearance and completing all required documents with the General Authority for Investment and Free Zones (GAFI).

Conditions and Documents Required for Obtaining Investment Residency:

Subject to the provisions of the laws regulating residency in the A.R.E, the following requirements shall be for granting residency to non-Egyptian investors,

• The applicant shall be a founder, shareholder, partner in a company, or owner of an establishment;
•  The period of residence shall not be less than one year and not exceed the duration of the project.
• The Board of Directors of the Authority may add other conditions after the approval of the Ministry of Interior;
• The residence shall be canceled if the investors disassociate from the company, the company is deregistered based on liquidation, or the establishment is removed from the Commercial Register.

• Requirements for obtaining investment residency for a foreigner inside the A.R.E, for companies established subject to Law 159 of 1981L:

• The investor shall be a partner in the company and his share shall not be less than $35,000. This shall be proven by a bank certificate proving that the amount has been deposited to the company’s account, the company’s articles of association amendment, or the company’s Commercial Register.
• If a year has passed since the incorporation of the company, the activity shall be proven by submitting the supporting documents, such as sales and purchase invoices, tax returns and licenses to practice the activity. In the event of failure to obtain such documents, an application shall be submitted to the Economic Performance Evaluation Committee to inspect the company, including its premises and movable properties, to verify the practice of the activity.

- Upon the receipt of the Economic Performance Evaluation Committee Decision, an application for a work permit for the investor shall be submitted to the Government Services Office of the General Investment Authority. The applicant shall wait until the approval has been issued. The documents required for the recommendation are as follows:

• An application to the Investment Service Sector President indicating the information of the workers as required for obtaining work permits, signed by the authorized signatory, bearing the stamp of the company;
• A recent extract from the Commercial Register with 3-month validity;
• For the foreign partner or shareholder only (other than the members of the board of directors or managers), they shall submit a list of approved shareholders or partners according to the latest capital adjustment;
• A copy of the passport;
• The companies journal or a copy of the company's articles of association;
• Documents of the executive position (possession deed, operating license, purchase and sale invoices, tax returns and financial statements for the last two years), including, but not limited to,  the decision of the Economic Performance Evaluation Committee, if more than one year has passed since the establishment of the company;
• Payment receipt for the service;
• The company's tax card; and
• Certificate of insurance of the company.

Upon the receipt of security clearance, the investor shall be automatically exempt from recruitment, experience certificate, and the ratio of Egyptian workers to foreigners.

After receiving the security clearance (recommendation), the applicant shall head to the labor office of the GAFI and submit the company’s documents along with such required documents, which are as follows:

1. 1. 1. 1. Forms (2, 1) as prepared by the GAFI, stamped with the company's seal;
         2. The original and copies of the passport;
         3. A health certificate from any government hospital that the applicant is free from AIDS.
         4. A personal photo on the work permit application, bearing the company's stamp, to the GAFI and the Ministry of Manpower.
         5. Obtaining a recommendation from the Ministry of Manpower to obtain a work permit;
         6. A declaration by the applicant that he has never obtained a work permit;
         7. Payment of the prescribed fees, i.e., 5,200 EGP which is subject to increase by 1000 EGP each year.

After obtaining the work permit, they shall head to the Passport Office of GAFI and apply for residency, along with the application, to be attached to the work permit, to obtain the residency card after no less than 5 working days. The residence permit shall be valid for one year and shall be renewed after renewing the work permit.

2. Companies operating within the Free Zone Regulations shall submit their applications to the Zone

After receiving the security clearance (recommendation), the applicant shall head to the labor office of the GAFI and submit the company's documents along with such required documents, which are as follows:

1. 1. 1. 1. Forms (2, 1) as prepared by the GAFI, stamped with the company's seal;
         2. The original and copies of the passport;
         3. A health certificate from any government hospital that the applicant is free from AIDS.
         4. A personal photo on the work permit application, bearing the company's stamp, to the GAFI and the Ministry of Manpower.
         5. Obtaining a recommendation from the Ministry of Manpower to obtain a work permit;
         6. A declaration by the applicant that he has never obtained a work permit;
         7. Payment of the prescribed fees, ie, 5,200 EGP which is subject to increase by 1000 EGP each year.

After obtaining the work permit, the Applicant shall head to the Passport Office at the GAFI and apply for residency, with the application attached to the work permit, to obtain the residency card after no less than 5 working days. The residency shall be valid for one year and expires on the date of the expiry of the work permit and shall be renewed after renewing the work permit.