Many clients always ask this question and answer it with the following:
A simple company consisting of two partners, whether natural persons or legal persons, whether Egyptian or foreign nationals and up to a maximum of 50 partners, with no minimum capital and No capital deposit required, managing this company by one or more directors, whether partners or third parties. If the directors are foreign nationals, one of them is not required to be Egyptian. The director may be fixed in the company’s contract.
If the director is not specified in the company’s contract, he/she is designated as director of the comp For the duration of the stay of the company unless he/she is removed by an extraordinary general assembly decision, subject to the approval of three-quarters of the capital stakeholders present at the meeting.
- Partners ask about the company’s debt only to the extent of their equity shares.
- The management and control of the company are controlled by the regular general assembly, which consists of partners in the company.
- The company’s fateful decisions are controlled, and the director is dismissed by the extraordinary general assembly.