It is a LEGAL requirement to incorporate your company before you get into buisness
- It is very important to register your company BEFORE starting any business transaction in Egypt.
- It is illegal to practice business in Egypt without a licence, in this case, without incorporating the company.
- Recently the Egyptian tax authority issued an announcement (and a warning unfortunately) to entrepreneurs or online business owners to register their business and issue a tax card.
- We explain the legal status of online business in Egypt by answering these questions: What are the tax authority’s warnings? What is the tax registration number? What are the penalties? How can you incorporate your entity in Egypt?
- What is the legal status of online businesses in Egypt?
It is illegal to do any commercial businesses without a licence. According to this, you should register your business. This includes: if you are a freelancer (designer, developer ect), if you have a small online business or if you have a company of over 50 people.
- What is the tax authority’s warning?
The egyptian tax authority warned each person or company selling products or providing services online, to register their business and issue the tax card and mention the tax registration number in every ad they put out.
- What is the importance of the tax registration number?
The Egyptian tax authority required the tax registration number be present and clear in all online ads.
- Does the absence of the tax registration number from the ads expose you to legal accountability?
If the tax registration number is not clear enough in all ads, you may be exposed to legal accountability. This is the case even if you are just the advertising company or the marketing company, and it is not your product you are advertising.
- If you did not register your business: what are the penalties?
It is very easy to improve and secure your legal status in Egypt through registering your business.
The penalty for not meeting the legal requirements set out above
(not incorporating quickly enough) could make the entrepreneur in question face penalties of up to 5 years in prison, for tax evasion.
- How can you incorporate your business?
You can easily do this through Hekouky’s website Hekouky.com. We will get you sorted.
Contact Hekouky to register your company hassle free.