A sole proprietorship is a company owned by a person, whether natural or legal, and the characteristics of capital companies apply to it in terms of the liability of the owner of the company for the debts of the company within the capital limit. only, and this corporation is an exception to the original definition of corporation which is a contract between at least two parties.
The advantages of a one-man business
- Encourage and motivate small businesses that do not operate in the formal economy to operate there and enjoy the benefits provided by law for a one-man business.
- Limited liability with a capital value and not exceeding the owner’s personal money.
- إمكانية زيادة رأس المال (المقدر بحد أدنى 50 ألف جنيه) من خلال مؤسسها عن طريق إصدار حصص جديدة أو تحويل المال الاحتياطي الى حصص, كما يمكن تخفيض رأس المال من خلال إنقاص عدد الحصص أو تخفيض قيمتها الإسمية, على ألا يقل رأس المال عن 50 ألف Fairy.
Conditions of creation of the company
The company is incorporated into the General Investment Authority and the conditions of incorporation are summarized as follows:إقرأ أيضا:Clint Eastwood decides for his next movie … he will be released and star in Cry Macho
- The presence of an agent who acts as legal advisor to the company.
- An auditor registered in the table of accountants and auditors.
- The minimum capital is 50 thousand pounds.
- Ownership or rental contract with proven date of the company’s head office.
- The company must operate in one of the sectors specified in the investment law.
Company incorporation procedures
The company is established through the General Investment Authority, either at the seat of the authority or electronically through the website of the authority, and its incorporation procedures are as follows:
- Submit the incorporation request and get a certificate of unambiguous company name.
- Open a business account in the bank according to a certificate of unambiguity, deposit the capital in full and get a certificate of deposit.
- Prepare the documents necessary for the accomplishment of the procedures of incorporation represented in: a copy of the national identity card of the applicant – a contract of ownership or rental confirmed by the date of the registered office of the company – a certificate of bank deposit – a confirmation from one of the lawyers registered with the Egyptian Bar Association accepting his appointment as legal adviser to the company – A statement from an accountant registered on the list of accountants and auditors with acceptance appointing him as the auditor of the company ‘business.
- Submit the documents to the General Investment Authority to review the relevant employee and pay the prescribed fees. The company’s license certificate, its trade register, the tax card and the articles of association are issued on the same day and within a maximum period of three days.
The legal basis of a sole proprietorship
The legal basis for the definition of the company and the modalities of its constitution is article n ° 4 bis of law n ° 4 of 2018 and article n ° 129 bis of the same law.إقرأ أيضا:5 meilleurs livres en arabe et traduits pour vous aider à lire Philosophe du marteau
Article (4 bis) for the definition states: “A one-person company is a company whose capital is 100% owned by a person, natural or legal, in a way that does not conflict with its objectives, and the founder of the company is only questioned about his obligations within the limit of the capital allocated to him. The company takes for itself a particular name which derives from its purposes or from the name of its founder, and its name must be followed indicating that it is a sole proprietorship with limited liability, and it will be placed at its head office and branches. – where applicable – and in all its correspondence.
Article (129 bis (1)) relating to the procedures for setting up a company provides that: “A single company is formed at the request of its founder or of anyone who acts on his behalf with the Authority. The address of its head office and its branches (if applicable), the amount of its capital, the rules for its liquidation and any other information specified by the implementing regulations of this law. The executive regulations of this law determine the minimum capital for a one-person company, and the capital must be paid in full when the company is incorporated. “The contracts and actions of the founder in the name of the incorporated company apply to the right of the company after its incorporation, whenever necessary for the incorporation of the company.”إقرأ أيضا:قضية شيرين
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