Doing business-2020-comparing-business-regulation-in-190-economies-economy-profile-of-egypt-arab-republic-of - 1

PublicDisclosureAuthorized
Doing Business 2020 Egypt, Arab Rep.
Economy Profile
Prepared by Ahmed Elgazzar
Presented to Dr. Amr Sukkar
Doing Business 2020
Arab Rep
. E Economy Profile of Egypt,Arab Rep.
Summary of Doing Business 2020 Indicators (in order of appearance in the document)
Egypt, Arab Rep.

Economy Profile of Egypt, Arab Rep.
Doing Business 2020 Indicators
(in order of appearance in the document)
Starting a business Procedures, time, cost and paid-in minimum capital to start a limited liability company
Dealing with construction permits Procedures, time and cost to complete all formalities to build a warehouse and the quality control and safety
mechanisms in the construction permitting system
Getting electricity Procedures, time and cost to get connected to the electrical grid, and the reliability of the electricity supply and the
transparency of tariffs
Registering property Procedures, time and cost to transfer a property and the quality of the land administration system
Getting credit Movable collateral laws and credit information systems
Protecting minority investors Minority shareholders’ rights in related-party transactions and in corporate governance
Paying taxes Payments, time, total tax and contribution rate for a firm to comply with all tax regulations as well as postfiling
processes
Trading acrossborders Time and cost to export the product of comparative advantage and import auto parts
Enforcing contracts Time and cost to resolve a commercial dispute and the quality of judicial processes
Resolving insolvency Time, cost, outcome and recovery rate for a commercial insolvency and the strength of the legal framework for
insolvency
Employing workers Flexibility in employment regulation and redundancy cost

Ease of Doing Business in
Egypt, Arab Rep.
Region Middle East & North Af rica DB RANK DB SCORE
Income Category Lower middle income
114 60.1Population 98,423,595
City Covered Cairo
Rankingson Doing Business topics - Egypt, Arab Rep.
57
74
67
77
90
104
130
156
166
171
Starting Dealing Getting Registering Getting Protecting Paying Trading Enforcing Resolving
a with Electricity Property Credit Minority Taxes across Contracts Insolvency
Business Construction Investors Borders
Permits
Figure – Starting a Businessin Egypt, Arab Rep. – Score
73.6 87.9 89.9 100.0
Procedures Time Cost Paid-in min. capital
Figure – Starting a Businessin Egypt, Arab Rep. and comparator economies – Ranking and Score
DB 2020 Starting a Business Score

Details– Starting a Businessin Egypt, Arab Rep. – Procedure, Time and Cost
No. Procedures Time to Complete Associated Costs
1 APPLIES TO WOMEN ONLY: Obtain husband'spermission to leave the home 1 day No charge
2 Submit documents, pay the feesand receive the certificate of incorporation and tax card.
Agency : Investors Center at General Authority for Investment (GAFI)
On February 21, 2018, the General Authority for Investment opened the Investors Center – which
acts as a one-stop shop for business start-up. Entrepreneurs can use the regular process or a
premier process for an additional fee.
The Premier process is easier and faster. Entrepreneurs using the premier process only have to
submit the required documents and pay the fees to an official from the Investors Center. The
official will then perform the required action on behalf of the entrepreneur. In order to use this
process, entrepreneurs have to pay an extra fee of EGP 7,500. With the Premier process, it takes
only 1 or 2 days to receive the incorporation documents and the tax card.
Entrepreneurs using the regular process will first go to a lawyer from the centers who will review
all the required documents, the entrepreneur will then deposit the documents and pay the fees
with a second person, and come back 2 or 3 days later to receive the incorporation documents
and the tax card.
The required documents include:
1. Original certificate of non-confusion.
2. Powers of attorney from all partners (minimum 2 partners) in respect of limited liability
companies.
3. Copies of valid personal ID of founders or partners.
4. Original certificate indicating that the company's auditor is listed at the Registry of accountants
and auditors.
5. The application provided by GAFI.
6. Stamped articles of association.
A registry employee reviews the documents, and issues a detailed invoice for all fees associated
with the company's establishment.
Fees for company establishment are:
• Notary public fee: 0.25% of capital ( minimum of EGP 10 and a maximum of EGP 1,000 )
• Establishment fees: 0.1% of capital (minimum of EGP 100 and maximum of EGP 1,000
according to Article 17 (d) of the Companies Law)
• Commercial Syndicate fee: EGP 125 (for capital less than or equal to EGP 500,000) or EGP 250
(for capital more than EGP 500,000)
• Chamber of Commerce fees: 0.2% of capital (minimum of EGP 24 and maximum of EGP 2,000)
• Commercial registration: EGP 56
• Issuance of operation certificate: 0.2% of capital (minimum of EGP 24 and maximum of EGP
2,000) plus EGP 29
• Lawyer’s syndicate fee: 1% of contract value (maximum EGP 25,000)
• Premier process fee: EGP 7,500
3 Notarize company contracts
Agency : Notary
The articles of association must be signed by the owners of the company and notarized.
No stamp duty is levied, according to the amendments (published on July 1, 2006) to the Stamp
Duty Law (No. 111 of 1980).
3-4 days see comment
1 day no charge

4 Open a company file and Register employeeswith the National Authority of Social
Insurance
Agency : National Authority of Social Insurance
Social insurance provides compensation for disability, retirement (pension), unemployment, and
work-related injuries. By law, employers are required to subscribe to the social insurance system.
Otherwise, they may be subject to sanctions. The following documents must be submitted to the
competent authority’s office:
• Company’s commercial registration
• Company’s tax card.
• Company’s articles of incorporation.
• Deed or lease agreement for company premises.
• Employer to fill in Form No. 2.
• Employer’s bank signature certificate.
• Employer’s graduation certificate.
• Employees’ to fill in Form No. 1.
• Employees’ copy of identification card.
• Employee’s graduation certificate.
• Employees’ birth certificate (copy) if they do not have a social insurance number; or Form No. 6
for clearance/termination from employees’ previous jobs.
The company premises are then subject to inspection by relevant authorities - such as the
National Authority for Social Insurance and GAFI. Inspection takes place in practice only if there is
any complaint filed against the company, or suspicion that the company is an image organization
that does not actually conduct business as claimed in its submitted documents. Companies
registering for sales tax will undergo inspection.
5 Register for VAT
Agency : Egyptian Tax Authority
If a company's turnover is higher than EGP 500,000 per year, the company must obtain a VAT
certificate thanks to the VAT law no. 67/2016. Before the passing of the VAT law, companies
needed to register for GST according to the GST No. 11/1991.
In order to obtain a VAT Certificate, the following documents shall be submitted to the competent
Tax Authority:
1) the article of association;
2) the commercial registration
3) a POA issued by the employer;
4) a lease contract valid for at least one (1) year with a date certain from the Notary Public; and
5) the Tax Card
6 Buy and notarize company books
Agency : Notary
Entrepreneur are required to buy and notarize company books (the minutes book and the
accounting book). There are serial numbers in the books and each page needs to be stamped by
a notary.
7 days no charge
3 days no charge
1 day EGP 200 per book
Applies to women only.
Takes place simultaneouslywith previous procedure.

ness 2020 Egypt, Arab Rep.
Dealing with Construction Permits - Egypt, Arab Rep.
Standardized Warehouse
Estimated value of warehouse EGP 2,199,243.60
City Covered Cairo
Indicator Egypt, Arab Rep. Middle East & OECD high Best Regulatory
North Africa income Performance
Procedures (number) 20 15.7 12.7 None in 2018/19
Time (days) 173 123.6 152.3 None in 2018/19
Cost (% of warehouse value) 1.3 4.4 1.5 None in 2018/19
Building quality control index (0-15) 14.0 12.5 11.6 15.0 (6 Economies)
Figure – Dealing with Construction Permitsin Egypt, Arab Rep. – Score
40.0 57.6 93.7 93.3
Procedures Time Cost Building quality control index
Figure – Dealing with Construction Permitsin Egypt, Arab Rep. and comparator economies – Ranking and Score
DB 2020 Dealing with Construction Permits Score

2020 Egypt, Arab Rep.
Details– Dealing with Construction Permitsin Egypt, Arab Rep. – Procedure, Time and Cost
No. Procedures Time to Complete Associated Costs
1 Apply for the site validity certificate 1 day EGP 200
2 Receive on-site inspection from the Municipality
3 Obtain site validity certificate from the Municipality
1 day no charge
15 days no charge
4 Obtain a geotechnical study / soil test
5 Request and obtain building permit from the Municipality

Getting Electricity - Egypt, Arab Rep.
Standardized Connection
Name of utility South Cairo Electricity Distribution Company (SCEDC)
Price of electricity (US cents per kWh) 9.7
City Covered Cairo
Procedures (number) 5 4.4 4.4 3 (28 Economies)
Time (days) 53 63.5 74.8 18 (3 Economies)
Cost (% of income per capita) 180.2 419.6 61.0 0.0 (3 Economies)
Reliability of supply and transparency of tariff index (0-8) 5 4.4 7.4 8 (26 Economies)
Figure – Getting Electricity in Egypt, Arab Rep. – Score
66.7 84.8 97.8 62.5
Procedures Time Cost
Reliability of supply and transparency of
tariff index
Figure – Getting Electricity in Egypt, Arab Rep. and comparator economies – Ranking and Score
DB 2020 Getting Electricity Score
Egypt, Arab Rep.
Business 2020 Egypt, Arab Rep.

Registering Property- Egypt, Arab Rep.
Procedures (number) 9 5.4 4.7 1 (5 Economies)
Time (days) 76 26.6 23.6 1 (2 Economies)
Cost (% of property value) 1.1 5.6 4.2 0.0 (Saudi Arabia)
Quality of the land administration index (0-30) 9.0 14.6 23.2 None in 2018/19
Figure – Registering Property in Egypt, Arab Rep. – Score
33.3 64.1 92.7 30.0
Procedures Time Cost
Quality of the land administration index
Figure – Registering Property in Egypt, Arab Rep. and comparator economies – Ranking and Score
DB 2020 Registering Property Score
Details– Registering Property in Egypt, Arab Rep. – Measure of Quality
Answer Score
Quality of the land administration index (0-30) 9.0
Reliability of infrastructure index (0-8) 2.0
Type of land registration system in the economy: Title Registration
System
What is the institution in charge of immovable property registration? The Real Estate
Publicity Department
(REPD)
In what format are past and newly issued land records kept at the immovable property registry of the largest Computer/Scanned 1.0
business city of the economy —in a paper format or in a computerized format (scanned or fully digital)?
Is there a comprehensive and functional electronic database for checking for encumbrances (liens, mortgages, Yes 1.0
restrictions and the like)?
Institution in charge of the plans showing legal boundaries in the largest business city: Egyptian Surveying
Authority
In what format are past and newly issued cadastral plans kept at the mapping agency of the largest business Paper 0.0
city of the economy—in a paper format or in a computerized format (scanned or fully digital)?
Is there an electronic database for recording boundaries, checking plans and providing cadastral information No 0.0
(geographic information system)?
Is the information recorded by the immovable property registration agency and the cadastral or mapping agency Separate databases 0.0
kept in a single database, in different but linked databases or in separate databases?
Do the immovable property registration agency and cadastral or mapping agency use the same identification No 0.0
number for properties?

Transparency of information index (0–6) 3.0
Who is able to obtain information on land ownership at the agency in charge of immovable property registration Anyone who pays the 1.0
in the largest business city? official fee
Is the list of documents that are required to complete any type of property transaction made publicly available– Yes, in person 0.0
and if so, how?
Link for online access:
Is the applicable fee schedule for any type of property transaction at the agency in charge of immovable property Yes, on public boards 0.5
registration in the largest business city made publicly available–and if so, how?
Does the agency in charge of immovable property registration agency formally commit to deliver a legally Yes, on public boards 0.5
binding document that proves property ownership within a specific timeframe –and if so, how does it
communicate the service standard?
Is there a specific and independent mechanism for filing complaints about a problem that occurred at the agency No 0.0
in charge of immovable property registration?
Contact information:
Are there publicly available official statistics tracking the number of transactions at the immovable property No 0.0
registration agency?
Number of property transfers in the largest business city in 2018:
Who is able to consult maps of land plots in the largest business city? Anyone who pays the 0.5
official fee
Is the applicable fee schedule for accessing maps of land plots made publicly available—and if so, how? Yes, on public boards 0.5
Does the cadastral/mapping agency formally specifies the timeframe to deliver an updated cadastral plan—and No 0.0
if so, how does it communicate the service standard?

Getting Credit - Egypt, Arab Rep.
Strength of legal rights index (0-12) 5 3.1 6.1 12 (5 Economies)
Depth of credit information index (0-8) 8 5.3 6.8 8 (53 Economies)
Credit registry coverage (% of adults) 9.5 15.8 24.4 100.0 (2 Economies)
Credit bureau coverage (% of adults) 31.3 16.3 66.7 100.0 (14 Economies)
Figure – Getting Credit in Egypt, Arab Rep. – Score
65.0
Score - Getting Credit
Figure – Getting Credit in Egypt, Arab Rep. and comparator economies – Ranking and Score
DB 2020 Getting Credit Score

Details– Legal Rightsin Egypt, Arab Rep.
Strength of legal rightsindex (0-12) 5
Does an integrated or unified legal framework for secured transactions that extends to the creation, publicity and enforcement of functional equivalents No
to security interests in movable assets exist in the economy?
Does the law allow businesses to grant a non possessory security right in a single category of movable assets, without requiring a specific description Yes
of collateral?
Does the law allow businesses to grant a non possessory security right in substantially all of its assets, without requiring a specific description of Yes
collateral?
May a security right extend to future or after-acquired assets, and does it extend automatically to the products, proceeds and replacements of the No
original assets?
Is a general description of debts and obligations permitted in collateral agreements; can all types of debts and obligations be secured between parties; Yes
and can the collateral agreement include a maximum amount for which the assets are encumbered?
Is a collateral registry in operation for both incorporated and non-incorporated entities, that is unified geographically and by asset type, with an No
electronic database indexed by debtor's name?
Does a notice-based collateral registry exist in which all functional equivalents can be registered? No
Does a modern collateral registry exist in which registrations, amendments, cancellations and searches can be performed online by any interested third No
party?
Are secured creditors paid first (i.e. before tax claims and employee claims) when a debtor defaults outside an insolvency procedure? Yes
Are secured creditors paid first (i.e. before tax claims and employee claims) when a business is liquidated? Yes
Are secured creditors subject to an automatic stay on enforcement when a debtor enters a court-supervised reorganization procedure? Does the law No
protect secured creditors’ rights by providing clear grounds for relief from the stay and sets a time limit for it?
Does the law allow parties to agree on out of court enforcement at the time a security interest is created? Does the law allow the secured creditor to sell No
the collateral through public auction or private tender, as well as, for the secured creditor to keep the asset in satisfaction of the debt?

Protecting Minority Investors - Egypt, Arab Rep.
Stock exchange information
Stock exchange Egyptian Exchange
Stock exchange URL http://www.egyptse.com
Listed firms with equity securities 378
City Covered Cairo
Extent of disclosure index (0-10) 8.0 6.4 6.5 10 (13 Economies)
Extent of director liability index (0-10) 3.0 4.8 5.3 10 (3 Economies)
Ease of shareholder suits index (0-10) 3.0 4.7 7.3 10 (Djibouti)
Extent of shareholder rights index (0-6) 6.0 3.2 4.7 6 (19 Economies)
Extent of ownership and control index (0-7) 6.0 3.6 4.5 7 (9 Economies)
Extent of corporate transparency index (0-7) 6.0 3.5 5.7 7 (13 Economies)
Figure – Protecting Minority in Egypt, Arab Rep. – Score
64.0
Score - Protecting Minority Investors
Figure – Protecting Minority Investorsin Egypt, Arab Rep. and comparator economies – Ranking and Score

Paying Taxes - Egypt, Arab Rep.
Payments (number per year) 27 16.5 10.3 3 (2 Economies)
Time (hours per year) 370 202.6 158.8 49 (3 Economies)
Total tax and contribution rate (% of profit) 44.4 32.5 39.9 26.1 (33 Economies)
Postfiling index (0-100) 36.3 53.3 86.7 None in 2018/19
Figure – Paying Taxesin Egypt, Arab Rep. – Score
60.0 50.4 73.9 36.3
Payments Time Total tax and contribution rate Postfiling index
Figure – Paying Taxesin Egypt, Arab Rep. and comparator economies – Ranking and Score
DB 2020 Paying Taxes Score
siness 2020 Egypt, Arab Rep.

Details– Paying Taxesin Egypt, Arab Rep.
Tax or Payments Notes on Time (hours) Statutory tax Tax base Total tax and Notes on TTCR
mandatory (number) Payments rate contribution
contribution rate (% of
profit)
Employer paid - 12.0 165.0 26% on basic gross salaries 25.53
Social insurance salary, 24% on
contributions variable salary
(each reduced by
3% for medical
scheme)
Corporate 1.0 56.0
income tax
Stamp duty on 1.0
advertisements
Property tax 1.0
Tax on insurance 1.0
contracts
Value added tax 10.0 online 149.0
(VAT)
Employee paid - 0.0 jointly
Payroll tax on
employee
22.5% taxable profit 14.41
20% advertisement 3.54
value
monthly rental 0.82
value
1% and 10% insurance 0.05
premium
13% up to June value added 0.00 not included
30, 2017. 14%
from July 1, 2017
20% gross salaries 0.00 withheld
Employee paid - 0.0 jointly 14% on basic gross salaries 0.00 withheld
Social insurance salary, 11% on
contributions variable salary
(each reduced by
1% for medical
scheme)
Fuel tax 1.0 consumption 0.00 small amount
Totals 27 370 44.4

Details– Paying Taxesin Egypt, Arab Rep. – Tax by Type
Taxesby type Answer
Profit tax (% of profit) 14.4
Labor tax and contributions (% of profit) 25.5
Other taxes (% of profit) 4.4

Details– Paying Taxesin Egypt, Arab Rep. – Measure of Quality
Answer Score
Postfiling index (0-100) 36.3
VAT refunds
Does VAT exist? Yes
Does a VAT refund process exist per the case study? Yes
Restrictions on VAT refund process None
Percentage of cases exposed to a VAT audit (%) 75% - 100%
Is there a mandatory carry forward period? No
Time to comply with VAT refund (hours) 89.0 0.0
Time to obtain VAT refund (weeks) 34.0 39.7
Corporate income tax audits
Does corporate income tax exist? Yes
Percentage of cases exposed to a corporate income tax audit (%) 75% - 100%
Time to comply with a corporate income tax correction (hours) 24.5 57.8
Time to complete a corporate income tax correction (weeks) 16.7 47.8
Notes: Names of taxes have been standardized. For instance income tax, profit tax, tax on company's income are all named corporate income tax in this table.
The hours for VAT include all the VAT and sales taxes applicable.
The hours for Social Security include all the hours for labor taxes and mandatory contributions in general.
The postfiling index is the average of the scores on time to comply with VAT refund, time to obtain a VAT refund, time to comply with a corporate income tax correction
and time to complete a corporate income tax correction.
N/A = Not applicable.

Trading across Borders - Egypt, Arab Rep.
Time to export: Border compliance (hours) 48 52.5 12.7 1 (19 Economies)
Cost to export: Border compliance (USD) 258 441.8 136.8 0 (19 Economies)
Time to export: Documentary compliance (hours) 88 66.4 2.3 1 (26 Economies)
Cost to export: Documentary compliance (USD) 100 240.7 33.4 0 (20 Economies)
Time to import: Border compliance (hours) 240 94.2 8.5 1 (25 Economies)
Cost to import: Border compliance (USD) 554 512.5 98.1 0 (28 Economies)
Time to import: Documentary compliance (hours) 265 72.5 3.4 1 (30 Economies)
Cost to import: Documentary compliance (USD) 1000 262.6 23.5 0 (30 Economies)
Figure – Trading acrossBordersin Egypt, Arab Rep. – Score
70.4 75.7 48.5 75.0 14.3 53.9 0.0 0.0
Time Cost Time Cost Time Cost Time Cost
to to to to to to to to
export: export: export: export: import: import: import: import:
Border Border Documentary Documentary Border Border Documentary Documentary
compliance compliance compliance compliance compliance compliance compliance compliance
Figure – Trading acrossBordersin Egypt, Arab Rep. and comparatoreconomies – Ranking and Score

DB 2020 Trading Across Borders Score
Enforcing Contracts - Egypt, Arab Rep.
Standardized Case
Claim value EGP 69,865
Court name First Instance Court
City Covered Cairo
Time (days) 1010 622.0 589.6 120 (Singapore)
Cost (% of claim value) 26.2 24.7 21.5 0.1 (Bhutan)
Quality of judicial processes index (0-18) 4.0 6.6 11.7 None in 2018/19
Figure – Enforcing Contractsin Egypt, Arab Rep. – Score
27.0 70.6 22.2
Time Cost Quality of judicial processes index
Figure – Enforcing Contractsin Egypt, Arab Rep. and comparator economies – Ranking and Score
DB 2020 Enforcing Contracts Score

Resolving Insolvency- Egypt, Arab Rep.
Recovery rate (cents on the dollar) 23.3 27.3 70.2 92.9 (Norway)
Time (years) 2.5 2.7 1.7 0.4 (Ireland)
Cost (% of estate) 22.0 14.0 9.3 1.0 (Norway)
Outcome (0 as piecemeal sale and 1 as going concern) 0 .. .. ..
Strength of insolvency framework index (0-16) 9.5 6.3 11.9 None in 2018/19
Figure – Resolving Insolvency in Egypt, Arab Rep. – Score
25.1 59.4
Recovery rate Strength of insolvency framew ork index
Figure – Resolving Insolvency in Egypt, Arab Rep. and comparator economies – Ranking and Score
DB 2020 Resolving Insolvency Score

Employing Workers - Egypt, Arab Rep.
Details– Employing Workersin Egypt, Arab Rep.
Answer
Hiring
Fixed-term contracts prohibited for permanent tasks? No
Maximum length of a single fixed-term contract (months) No limit
Maximum length of fixed-term contracts, including renewals (months) No limit
Minimum wage applicable to the worker assumed in the case study (US$/month) 0.0
Ratio of minimum wage to value added per worker 0.0
Maximum length of probationary period (months) 3.0
Working hours
Standard workday 8.0
Maximum number of working days per week 6.0
Premium for night work (% of hourly pay) 0.0
Premium for work on weekly rest day (% of hourly pay) 0.0
Premium for overtime work (% of hourly pay) 35.0
Restrictions on night work? No
Restrictions on weekly holiday? No
Restrictions on overtime work? No
Paid annual leave for a worker with 1 year of tenure (working days) 21.0
Paid annual leave for a worker with 5 years of tenure (working days) 21.0
Paid annual leave for a worker with 10 years of tenure (working days) 30.0
Paid annual leave (average for workers with 1, 5 and 10 years of tenure, in working days) 24.0
Redundancy rules
Dismissal due to redundancy allowed by law? Yes
Third-party notification if one worker is dismissed? Yes
Third-party approval if one worker is dismissed? Yes
Third-party notification if nine workers are dismissed? Yes
Third-party approval if nine workers are dismissed? Yes
Retraining or reassignment obligation before redundancy? No
Priority rules for redundancies? Yes
Priority rules for reemployment? No
Redundancy cost
Notice period for redundancy dismissal for a worker with 1 year of tenure (weeks of salary) 8.7
Notice period for redundancy dismissal for a worker with 5 years of tenure (weeks of salary) 8.7
Notice period for redundancy dismissal for a worker with 10 years of tenure (weeks of salary) 13.0
Notice period for redundancy dismissal (average for workers with 1, 5 and 10 years of tenure, in weeks of salary) 10.1
Severance pay for redundancy dismissal for a worker with 1 year of tenure (weeks of salary) 4.3
Severance pay for redundancy dismissal for a worker with 5 years of tenure (weeks of salary) 21.7
Page 65

Severance pay for redundancy dismissal for a worker with 10 years of tenure (weeks of salary) 54.2
Severance pay for redundancy dismissal (average for workers with 1, 5 and 10 years of tenure, in weeks of salary) 26.7
Unemployment protection after one year of employment? Yes

Business Reforms in Egypt, Arab Rep.
From May 2, 2018 to May 1, 2019, 115 economies implemented 294 business regulatory reforms across the 10 areas measured by Doing Business. Reforms inspired
by Doing Business have been implemented by economies in all regions. The following are reforms implemented since Doing Business 2008.
=Doing Business reform making it easier to do business. = Change making it more difficult to do business.
DB2020
Starting a Business: Egypt made starting a business easier by abolishing the requirement to obtain a certificate of non-confusion and improving its one-stop shop.
Getting Electricity: The Arab Republic of Egypt improved the reliability of electricity supply by implementing automated systems to monitor and report power outages.
Protecting Minority Investors: The Arab Republic of Egypt strengthened minority investors protections by requiring shareholder approval when listed companies
issue new shares.
Paying Taxes: Egypt made paying taxes easier by introducing an online system for filing and payment of corporate income tax and value added tax.
DB2019
Starting a Business: Egypt made starting a business easier by removing the requirement to obtain a bank certificate and establishing a one-stop shop.
Getting Credit: The Arab Republic of Egypt strengthened access to credit by introducing the possibility of granting a nonpossessory security right in a single
category of movable assets without requiring a specific description of the collateral. Secured creditors are now given absolute priority over other claims, such as labor
and tax, both outside and within bankruptcy proceedings.
Protecting Minority Investors: The Arab Republic of Egypt strengthened minority investors protections by increasing corporate transparency.
Paying Taxes: Egypt made paying taxes easier by extending value added tax cash refunds to manufacturers in case of a capital investment.
Resolving Insolvency: Egypt made resolving insolvency easier by introducing the reorganization procedure, allowing debtors to initiate the reorganization
procedure and granting creditors greater participation in the proceedings.
DB2018
Registering Property: The Arab Republic of Egypt made it more difficult to register property by raising the cost to verify and ratify a sales contract.
Protecting Minority Investors: The Arab Republic of Egypt strengthened minority investor protections by increasing shareholder rights and role in major
corporate decisions.
DB2017
Starting a Business: The Arab Republic of Egypt made starting a business easier by merging procedures at the one-stop shop by introducing a follow-up unit in
charge of liaising with the tax and labor authority on behalf of the company.
Protecting Minority Investors: The Arab Republic of Egypt strengthened minority investor protections by increasing shareholder rights and role in major
corporate decisions and by clarifying ownership and control structures.
Trading acrossBorders: The Arab Republic of Egypt made trading across borders more difficult by making the process of obtaining and processing documents
more complex and by imposing a cap on foreign exchange deposits and withdrawals for imports.

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