Egypt has passed Law No. 173 of 2023 (“Recent Law”), introducing a significant exemption from the first paragraph of (Secondly (5)) of Article 2 of Law No. 121 of 1982 regarding the Egyptian national requirement pertaining to Importers Register. The Recent Law permits the registration in the Importers Register of joint-stock companies, companies limited by shares, limited liability companies, or partnership companies whose shares or quotas are not owned by Egyptians or owned by them with less than a 51%, provided that the total registration period in the Importer Register does not exceed 10 years from the date of the implementation of the provisions of the Recent Law (i.e., 30 October 2033). The registration period may be extended for a single period not exceeding 10 years by a decision of the Cabinet based on the proposal of the competent Minister for Foreign Trade Affairs.

For further information, please contact Alex Saleh (alex.saleh@glaco.com) and Hegui A. Taha (hegui.taha@glaco.com).