Finally….Regulations Issued for One Person Companies (OPCs)
The General Authority for Investment and Free Zones (GAFI) has published the requirements and necessary documents for establishing an OPC in Egypt. The new process is intended to be streamlined and efficient. An OPC can be established by a natural or legal person via the GAFI online portal (gafi.gov.eg). After creating an account, the founder must upload the required documents and pay the necessary fees with a credit card. The documents will be reviewed and the OPC will receive its establishment papers from GAFI within one business day. Potential founders may also submit their documents in person on the first floor of the GAFI complex and pay their fees via cash or credit card. The OPC should be issued its documents by the next business day.
Documents Required to Establish an OPC:
- Certificate of non-duplicate company name
- Power of Attorney (PoA) for the Company’s legal representative (in the case of legal persons)
- Updated Copy of Commercial Registration (in the case of legal persons)
- Approval of Prime Minister or competent Minister (in the case of a public entity)
- Security Clearance for foreign owners or managers
- Original and copies of passport/national ID for the founder and legal representative
- Approval of the competent authority if the OPC’s purposes require it
- Appraisal Report of any in-kind shares
- GAFI Approval (if the OPC will be located in a free zone) in accordance with Law No. 72/2017
Nota Bene:
All proxies and PoAs must include the powers to establish a company and sign the founding documents at the real estate authority.