OffshoreSeychelles
UK Ltd with emi bank account
Turner Little - Company Formation Agents

Banking and business opportunities in Egypt – an underrated, non-crs country.

If you are looking for professional assistance and information about everything that people do not write about.
Set up your Offshore Company in Seychelles
Just: Passport & Identity card, Consumption bill (unauthenticated)
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minotari

New member
Are there e-wallets or EMIs in Egypt where a tourist can open an account without a help of a local person, advocate or requirement of Egyptian residency?
 

coq

New member
- No, but you can an own Egyptian LLC with US LLC and open an Egyptian bank account with merchant account under the Egyptian LLC.

- see my reply here for foreign taxes

- Yes, there are a lot of firms that you could work with, but all depends on what you're looking for!
I was wondering how would be the tax implications of a foreign-owned US single member LLC owning a Egyptian LLC?
If the parent LLC is dormant and never had activities, while the Egyptian LLC does have activities, does it trigger the requirement for filing the form 5472+proforma 1120?
 

ikan

Active Member
The third option though is that you can open an account via nominee director, which means your name won't appear on the bank but you can have the right to control the account in some form or another. but you have to check with an Egyptian lawyer first though.
Can you provide list of lawyer offering this type of service ? Or any other indication that help ? Thank's
 

Hist

New member
I registered a limited liability company in Egypt in 1997: I bought land and built a workshop on it. I employed 50 workers.

It took 3 years to get connected to electricity: in the end we took the electricity company to court, and won. But in the meantime I had to buy a big generator or allow my newborn business to die.

We are still not connected to water 20 years later.

The local authority hit us with illegal re-zoning fees equivalent to 4 times the purchase cost of the land. We took them to court, and again, we won. But the court decision is simply ignored, and veiled threats are made to kick me out of the country unless we pay.

We have been in and out of the labour courts for over twenty years, and lost every single case.

We have been screwed over by our own lawyers more times than I can recount.

I have had over thirty AIDS/HIV tests, which are a condition for the issuance of a work permit.

Knowing what I now know, I would never have invested in Egypt as an independent investor, all those years ago.

And the worst of it all, whereas I want to close the business and retire, I am terrified of the costs involved, which appear to be without defined limit.

Finally: forget the legal definition of a limited liability company. It exists on the statute book, but in practise your personal liability is unlimited.
 
Mentor Group
Mentor Group
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