{"id":658627,"date":"2025-01-14T00:00:00","date_gmt":"2025-01-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/14\/were-getting-a-revamped-companies-act-that-gafi-says-will-be-in-line-with-changing-investment-climate\/"},"modified":"2025-01-14T00:00:00","modified_gmt":"2025-01-14T00:00:00","slug":"were-getting-a-revamped-companies-act-that-gafi-says-will-be-in-line-with-changing-investment-climate","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/14\/were-getting-a-revamped-companies-act-that-gafi-says-will-be-in-line-with-changing-investment-climate\/","title":{"rendered":"We\u2019re getting a revamped Companies Act that GAFI says will be \u2018in line\u2019 with changing investment climate"},"content":{"rendered":"

GAFI to draft a new Companies Act in line with changing investment climate:<\/strong> The General Authority for Investment and Freezones (GAFI) plans to prepare a revamped companies law to replace the Companies Act, GAFI boss Hossam Heiba told Hapi Journal<\/a>. This comes as part of efforts to keep up with developments in the investment arena seen over the past few years and to provide a legislative framework that aligns with the increasing reliance on electronic documents. The authority is expected to put the draft legislation up for public consultation after Ramadan, he said.<\/p>\n

Unfamiliar with the Companies Act? <\/strong>The law provides a regulatory framework for how companies in Egypt are incorporated, managed, and dissolved. The law also covers shareholder rights and the responsibilities of boards. You can check out the full text of the law<\/a> on GAFI\u2019s official website. <\/p>\n

What can we expect from the new law?<\/strong> The new law will focus on the incorporation procedures for companies, post-incorporation services \u2014 such as documenting board meetings or general assemblies \u2014 and recognizing electronic procedures and documents, which are still not recognized under the current legislation, Heiba revealed. <\/p>\n

Creating a unified authority: <\/strong>The new law will select a single authority through which companies can register their establishment \u2014 a process that currently spans eight different entities.<\/p>\n

\u201cThe process of establishing companies in Egypt currently differs from other countries,<\/strong> as it involves numerous procedures and requires fulfilling all founding requirements right from the beginning,\u201d Heiba was quoted as saying. \u201cThere will be a move to divide these procedures into two phases: the first will only involve the establishment of the company and give it a 12-month grace period to define its activities and meet the remaining requirements,\u201d he said.<\/p>\n

The authority has done its homework: <\/strong>GAFI looked into legislation from 20 countries in preparation, Heiba said, adding that the authority also worked to identify recurring issues in the existing law. <\/p>\n

Remember: <\/strong>The government has been working tirelessly to boost investment, introducing reforms and incentives to facilitate the investment process with the aim of attracting a large number of investments. <\/p>\n","protected":false},"excerpt":{"rendered":"

The law outlines the regulatory framework for the incorporation, management, and dissolution of companies in Egypt<\/p>\n","protected":false},"author":1,"featured_media":658628,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7344],"tags":[72,103,461,125,187],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-658627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation-watch","tag-enterpriseam","tag-fdi","tag-gafi","tag-investment-watch","tag-legislation-watch","wpautop","entry"],"acf":{"mongo_id":"201b9e24-d672-4d87-b688-2cdf44c2b0dc","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/730.jpg","photo_position":"above","homepage_title":"","full_issue_title":"We\u2019re getting a revamped Companies Act that GAFI says will be \u2018in line\u2019 with changing investment climate","related_issue":[658612],"teaser":"The law outlines the regulatory framework for the incorporation, management, and dissolution of companies in Egypt","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.4d707296-d76e-44f8-b876-118b340e2129.mp3"},"yoast_head":"\nWe\u2019re getting a revamped Companies Act that GAFI says will be \u2018in line\u2019 with changing investment climate - 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The General Authority for Free zones and Investments is planning to send draft amendments to the Investment Act to the government within days,Al Masry Al Youm quotes GAFI chief Mohsen Adel is saying. Adel gave no details of the amendments, but free\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":658585,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/13\/gafi-mulls-changes-to-the-companies-act\/","url_meta":{"origin":658627,"position":1},"title":"GAFI mulls changes to the Companies Act","author":"enterpriseam admin","date":"13 January 2025","format":false,"excerpt":"Good afternoon all you wonderful people, and happy Monday. Read on for all the latest below.THE BIG STORY TODAY Could a revamped Companies Act be on the table? The General Authority for Investment and Freezones (GAFI) plans to prepare a revamped companies law to replace the Companies Act, GAFI boss\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/693.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":604887,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/16\/egypts-gafi-introduces-periodical-earnings-reporting-to-freezone-companies\/","url_meta":{"origin":658627,"position":2},"title":"Egypt\u2019s GAFI introduces periodical earnings reporting to freezone companies","author":"enterpriseam admin","date":"16 December 2018","format":false,"excerpt":"The General Authority for Freezones and Investments (GAFI) has made it mandatory for companies operating in freezones to present copies of their financial statements during the first quarter of every fiscal year, GAFI head Mohsen Adel said. The companies are required to submit the statements, with accompanying notes and disclosures,\u2026","rel":"","context":"In "Legislation + Policy"","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":591782,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/17\/baker-mckenzie-explains-egypts-latest-investment-act-exec-reg-amendments-on-foreign-investment-data\/","url_meta":{"origin":658627,"position":3},"title":"Baker McKenzie explains Egypt\u2019s latest Investment Act exec reg amendments on foreign investment data","author":"enterpriseam admin","date":"17 December 2019","format":false,"excerpt":"If your company has a foreign investor in its shareholder base, GAFI wants extra data from you every quarter: The Investment Ministry issued last month amendments to the Investment Act that will require public and private entities alike to submit quarterly report to the General Authority for Freezones and Investment\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":624616,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/13\/gafi-outlines-procedures-for-companies-to-fall-under-its-purview-from-fra\/","url_meta":{"origin":658627,"position":4},"title":"GAFI outlines procedures for companies to fall under its purview from FRA","author":"enterpriseam admin","date":"13 September 2018","format":false,"excerpt":"The General Authority for Freezones and Investment (GAFI) issued a directive outlining procedures for companies to fall under its jurisdiction from that of the the Financial Regulatory Authority\u2019s (FRA), Al Mal reports. These procedures include obtaining approval from the company\u2019s general assembly with FRA sign off, and an approval from\u2026","rel":"","context":"In "Legislation + Policy"","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":600947,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/14\/gafi-aims-to-amend-fees-for-freezone-industries\/","url_meta":{"origin":658627,"position":5},"title":"GAFI aims to amend fees for freezone industries","author":"enterpriseam admin","date":"14 February 2019","format":false,"excerpt":"REGULATION WATCH- Could taxes on freezone products be going away? The General Authority for Investment (GAFI) could look at giving companies based in free zones a break, says Moatasem Rashed, the head of the Private Free Zones Investors Association, an industry association. Rashed is nudging GAFI to cut taxes and\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/658627","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=658627"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/658627\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/658612"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/658628"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=658627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=658627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=658627"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=658627"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=658627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}