{"id":649797,"date":"2017-03-08T04:17:00","date_gmt":"2017-03-08T04:17:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/"},"modified":"2017-03-08T04:17:00","modified_gmt":"2017-03-08T04:17:00","slug":"amendments-to-importers-registry-act-pass","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/","title":{"rendered":"Amendments to Importers Registry Act pass"},"content":{"rendered":"

<\/a> Amendments to the Importers Registry Act that would allow foreigners to hold a stake in an import company have officially been issued on Tuesday. 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 their behalf. As we have previously noted<\/a>, the changes also include increasing the minimum capital for individuals to be registered to EGP 500k from EGP 10k, for limited liability companies to EGP 2 mn from EGP 15k, and for joint-stock companies to EGP 5 mn. The law also imposes stricter penalties for violation of import regulations, including imprisonment for up to one year and fines of up to EGP 1 mn. The amendments \u2014 which were first announced back in January of last year \u2014 had been met with significant opposition<\/a> from Egyptian importers, who are particularly loathful of having to compete with foreigners.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amendments to the Importers Registry Act that would allow foreigners to hold a stake in an import company have officially been issued on Tuesday. 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 their behalf. As we have […]<\/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":[9344],"tags":[72,2375],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-649797","post","type-post","status-publish","format-standard","hentry","category-legislation-policy","tag-enterpriseam","tag-legislation-policy","wpautop","entry"],"acf":{"mongo_id":"7ba7afd6-b561-4ab2-b5d3-d589080325a9","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[649754],"teaser":"","voice_url":""},"yoast_head":"\nAmendments to Importers Registry Act pass - 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\/03\/08\/amendments-to-importers-registry-act-pass\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amendments to Importers Registry Act pass\" \/>\n<meta property=\"og:description\" content=\"Amendments to the Importers Registry Act that would allow foreigners to hold a stake in an import company have officially been issued on Tuesday. 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 their behalf. As we have […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-08T04:17:00+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\/03\/08\/amendments-to-importers-registry-act-pass\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Amendments to Importers Registry Act pass\",\"datePublished\":\"2017-03-08T04:17:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/\"},\"wordCount\":154,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"Legislation + Policy\"],\"articleSection\":[\"Legislation + Policy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/\",\"name\":\"Amendments to Importers Registry Act pass - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2017-03-08T04:17:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Amendments to Importers Registry Act pass\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Amendments to Importers Registry Act pass - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/","og_locale":"en_US","og_type":"article","og_title":"Amendments to Importers Registry Act pass","og_description":"Amendments to the Importers Registry Act that would allow foreigners to hold a stake in an import company have officially been issued on Tuesday. 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 their behalf. As we have […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2017-03-08T04:17:00+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Amendments to Importers Registry Act pass","datePublished":"2017-03-08T04:17:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/"},"wordCount":154,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"keywords":["EnterpriseAM","Legislation + Policy"],"articleSection":["Legislation + Policy"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/","url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/","name":"Amendments to Importers Registry Act pass - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"datePublished":"2017-03-08T04:17:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/08\/amendments-to-importers-registry-act-pass\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Amendments to Importers Registry Act pass"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":642271,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/09\/importers-want-grace-period-to-comply-with-import-registry-act-extended\/","url_meta":{"origin":649797,"position":0},"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 "Egypt Politics + Economics"","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":543632,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/10\/selling-your-house-could-soon-become-cheaper\/","url_meta":{"origin":649797,"position":1},"title":"Selling your house could soon become cheaper","author":"enterpriseam admin","date":"10 February 2022","format":false,"excerpt":"Another potential boon for homeowners: The House of Representatives\u2019 Planning and Budget Committee yesterday greenlit amendments to the Income Tax Act that would overhaul the property disposal tax to reduce selling costs for home owners, according to Al Mal. The bill would see property owners pay a lump sum tax\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/139.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595784,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/06\/fra-give-itself-more-power-in-insurance-act\/","url_meta":{"origin":649797,"position":2},"title":"FRA give itself more power in Insurance Act","author":"enterpriseam admin","date":"6 August 2019","format":false,"excerpt":"LEGISLATION WATCH- FRA makes new amendments to the Insurance Act: The financial Regulatory Authority (FRA) has made new amendments to the final draft of the Insurance Act to encourage financial inclusion, Youm7 reported. The amendments include requiring insurance companies to present a certificate from a CBE-registered bank as proof that\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/8\/1971.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590084,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/13\/heres-what-mps-got-done-this-session\/","url_meta":{"origin":649797,"position":3},"title":"Here\u2019s what MPs got done this session","author":"enterpriseam admin","date":"13 July 2023","format":false,"excerpt":"MPs passed almost 190 pieces of legislation over the past nine months","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/515.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":632576,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/14\/amendments-to-the-customs-act-will-expand-exemptions-for-production-inputs\/","url_meta":{"origin":649797,"position":4},"title":"Amendments to the Customs Act will expand exemptions for production inputs","author":"enterpriseam admin","date":"14 February 2018","format":false,"excerpt":"LEGISLATION WATCH- Amendments to the Customs Act will expand exemptions for production inputs. The Finance Ministry announced changes to the Customs Act designed to expand exemptions and tighten loopholes for tax dodgers. The amendments will expand temporary exemptions for productions inputs throughout the value chain and, for the first time,\u2026","rel":"","context":"In "Speed Round"","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":645786,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/30\/importers-complain-about-higher-capital-requirements-of-importers-registry-act\/","url_meta":{"origin":649797,"position":5},"title":"Importers complain about higher capital requirements of Importers Registry Act","author":"enterpriseam admin","date":"30 July 2017","format":false,"excerpt":"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\u2026","rel":"","context":"In "Other Business News of Note"","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\/649797","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=649797"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/649797\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/649754"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=649797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=649797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=649797"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=649797"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=649797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}