{"id":645786,"date":"2017-07-30T03:55:22","date_gmt":"2017-07-30T03:55:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/30\/importers-complain-about-higher-capital-requirements-of-importers-registry-act\/"},"modified":"2017-07-30T03:55:22","modified_gmt":"2017-07-30T03:55:22","slug":"importers-complain-about-higher-capital-requirements-of-importers-registry-act","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/30\/importers-complain-about-higher-capital-requirements-of-importers-registry-act\/","title":{"rendered":"Importers complain about higher capital requirements of Importers Registry Act"},"content":{"rendered":"<p>Importers at the Cairo Chambers of Commerce say that 40-70% of importers will be pushed out of the market as a result of higher capital requirements under amendments to the executive regulations of the Importers Registry Act, <a href=\"http:\/\/almalnews.com\/Story\/341376\/14\/%D8%A7%D9%84%D8%BA%D8%B1%D9%81-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A%D8%A9-%D8%AA%D8%AE%D8%A7%D8%B1%D8%AC-40---%D8%A8%D8%A7%D9%84%D9%85%D8%A6%D8%A970-%D9%85%D9%86-%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D9%88%D8%B1%D8%AF%D9%8A%D9%86-%D9%85%D9%86-%D8%A7%D9%84%D9%86%D8%B4%D8%A7%D8%B7\">Al Mal says<\/a>. The Trade Ministry gave businesses six months to comply with the regs that were <a href=\"https:\/\/enterprise.press\/stories\/2017\/06\/04\/govt-moves-to-tighten-control-of-exports-by-hiking-capital-requirements-for-importers\/\">issued last month<\/a> in a bid to curb low-quality imports and encourage more investments in local industry. The amendments raised minimum capital requirements for the smallest importers to EGP 500k from EGP 10k previously, EGP 2 mn instead of EGP 15k for limited liability companies, and EGP 5 mn for joint stock companies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Importers at the Cairo Chambers of Commerce say that 40-70% of importers will be pushed out of the market as a result of higher capital requirements under amendments to the executive regulations of the Importers Registry Act, Al Mal says. The Trade Ministry gave businesses six months to comply with the regs that were issued [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9315],"tags":[72,2390],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-645786","post","type-post","status-publish","format-standard","hentry","category-other-business-news-of-note","tag-enterpriseam","tag-other-business-news-of-note","wpautop","entry"],"acf":{"mongo_id":"a0537d58-648b-4815-84ef-b803dc550211","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[645742],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Importers complain about higher capital requirements of Importers Registry Act - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/30\/importers-complain-about-higher-capital-requirements-of-importers-registry-act\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Importers complain about higher capital requirements of Importers Registry Act\" \/>\n<meta property=\"og:description\" content=\"Importers at the Cairo Chambers of Commerce say that 40-70% of importers will be pushed out of the market as a result of higher capital requirements under amendments to the executive regulations of the Importers Registry Act, Al Mal says. The Trade Ministry gave businesses six months to comply with the regs that were issued [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/30\/importers-complain-about-higher-capital-requirements-of-importers-registry-act\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-07-30T03:55:22+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/30\/importers-complain-about-higher-capital-requirements-of-importers-registry-act\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/30\/importers-complain-about-higher-capital-requirements-of-importers-registry-act\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Importers complain about higher capital requirements of Importers Registry Act\",\"datePublished\":\"2017-07-30T03:55:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/30\/importers-complain-about-higher-capital-requirements-of-importers-registry-act\/\"},\"wordCount\":115,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"Other Business News of Note\"],\"articleSection\":[\"Other Business News of Note\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/30\/importers-complain-about-higher-capital-requirements-of-importers-registry-act\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/30\/importers-complain-about-higher-capital-requirements-of-importers-registry-act\/\",\"name\":\"Importers complain about higher capital requirements of Importers Registry Act - 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According to our friends at Riad & Riad Law Firm, the amendments remove provisions prohibiting registered importers from entering into arrangements with non-Egyptians to import on\u2026","rel":"","context":"In &quot;Legislation + Policy&quot;","block_context":{"text":"Legislation + Policy","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-policy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":646001,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/04\/govt-moves-to-tighten-control-of-exports-by-hiking-capital-requirements-for-importers\/","url_meta":{"origin":645786,"position":1},"title":"Gov\u2019t moves to tighten control of exports by hiking capital requirements for importers","author":"enterpriseam admin","date":"4 June 2017","format":false,"excerpt":"Tightening control of imports: The Trade and Industry Ministry issued amendments to the executive regulations of the Importers Registry Act on Saturday meant to tighten control of imports, Reuters says. The amendments \u2014 which complement changes to the Importers Registry Act that were issued in March \u2014 raise the minimum\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":642271,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/09\/importers-want-grace-period-to-comply-with-import-registry-act-extended\/","url_meta":{"origin":645786,"position":2},"title":"Importers want grace period to comply with Import Registry Act extended","author":"enterpriseam admin","date":"9 August 2017","format":false,"excerpt":"The importers division of the Federation of Egyptian Industries is requesting that the government extend the grace period to comply with amendments to the Importers Registry Act, which tightens controls on importers, Al Mal reports. Importers want the six-month grace period, which expires in September, to be extended until December,\u2026","rel":"","context":"In &quot;Egypt Politics + Economics&quot;","block_context":{"text":"Egypt Politics + Economics","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-politics-economics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":642970,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/27\/trade-ministry-extends-grace-period-to-comply-with-importers-registry-act\/","url_meta":{"origin":645786,"position":3},"title":"Trade Ministry extends grace period to comply with Importers Registry Act","author":"enterpriseam admin","date":"27 August 2017","format":false,"excerpt":"The Trade and Industry Ministry plans to extend the grace period to comply with amendments to the Importers Registry Act to December from September, minister Tarek Kabil announced on Thursday, according to Al Borsa. The move follows requests by importers that the September deadline was too short notice to comply\u2026","rel":"","context":"In &quot;Other Business News of Note&quot;","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":650128,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/glaring-issues-still-need-to-be-addressed-with-the-importers-registry-law\/","url_meta":{"origin":645786,"position":4},"title":"Glaring issues still need to be addressed with the Importers Registry Law","author":"enterpriseam admin","date":"16 March 2017","format":false,"excerpt":"Our friends at Sharkawy & Sarhan have highlighted a number of problems in the recently issued amendments to the Importers Registry Act. For one, the amendments \u2014 which allows foreigners to hold a 49% stake in an import company \u2014 does not resolve the issue of multi-tiered indirect ownership by\u2026","rel":"","context":"In &quot;Legislation + Policy&quot;","block_context":{"text":"Legislation + Policy","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-policy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637139,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/08\/trade-ministry-to-grant-temporary-licenses-for-importers-who-dont-yet-comply-with-import-registry-act\/","url_meta":{"origin":645786,"position":5},"title":"Trade Ministry to grant temporary licenses for importers who don\u2019t yet comply with Import Registry Act","author":"enterpriseam admin","date":"8 November 2017","format":false,"excerpt":"The General Authority for Export and Import Control will grant temporary licenses to importers who are currently unable to meet the December deadline to comply with amendments to the Importers Registry Act, the authority\u2019s head Ismail Gaber said, according to Al Mal. The Trade and Industry Ministry had extended to\u2026","rel":"","context":"In &quot;Other Business News of Note&quot;","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/645786","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=645786"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/645786\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/645742"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=645786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=645786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=645786"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=645786"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=645786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}