Many clients always ask this question and answer it as follows:
JSC is one of the strongest types of companies in Egypt and has been singled out by law to make its money in the rule of public money and has two types of subscription:
The IPO is on the stock exchange and we see it in the cabin.
The closed subscription consists of at least three founders, whether natural persons or legal persons, whether Egyptian nationality or foreigners of nationality and its minimum capital of two hundred and fifty thousand pounds. The 10% of capital shall be deposited at the time of incorporation into an account in the name of the company under incorporation in a bank. Other 15% shall be paid within three months of the date of incorporation and the remainder of the 75% shall be paid within five years on premium fixed by the company’s board.
The shareholder does not question the debts of the company in his own money. The company is run by a board of at least three persons, whether shareholders or others, and has no ceiling.
The management and control of this company is controlled by the ordinary general assembly consisting of its shareholders and controls the company’s fateful decisions and the extraordinary general assembly.
For more in-depth details refer to Alwafi’s book in corporate law in theory and practice
Dr. Mahmoud Mostafa Abdullah.