New Rules for Work Permit of Foreign Shareholders and Managers


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

Posted in News on Aug 28, 2019