In order to extract a work permit for a foreign shareholder or manager to work in an Egyptian company incorporated under the Companies Law no. 159 of 1981, certain requirements relating to the capital of the company should be met. This is according to a recent internal circular issued by the Ministry of Manpower in this respect.
Below is a table summarizing the number of foreigners permitted to work in the Egyptian companies and its related capital requirement.
| Type of Company | Number of Foreigners | Capital Requirement | Position | |
|---|---|---|---|---|
| Joint Stock Company | ||||
| 1 Foreigner | At least $35,000 | - Whether a: •shareholder; | ||
| Up to 3 Foreigners | At least $50,000 | •board member;or | ||
| Maximum 6 Foreigners | More than $100,000 | •Chairman. | ||
| Limited Liability Company | ||||
| 1 Foreigner | At least $35,000 | - Whether a: •quota holder; or | ||
| Up to 3 Foreigners | $50,000 or more | •manager. | ||
| Maximum 6 Foreigners | At least $100,000 to be fully paid |
|||
| Sole Shareholder Company | ||||
| a) In case the founder or | 1 Foreigner | At least $ 35,000 | - Whether: •the owner of the business; or | |
| the owner of the company | 2 Foreigners | At least $50,000 | •the company’s manager | |
| is a natural person | Maximum 3 Foreigners | At least $100,000 | - One of them should be the business owner. | |
| (b)In case the founder or | Maximum 2 Foreigners | At least $50,000 | - Company'manager | |
| the owner of the company | ||||
| is a legal entity |