Many people have Egypt in mind as a potential vacation spot because of its many well-known attractions. Living expenses are minimal, and those who relocate to Cairo, Egypt’s capital, can easily find employment if they so desire. The city attracts many foreigners in search of jobs, especially those from the United States and Europe. Since the unemployment rate is somewhat high, finding a job that suits your skills and interests may be difficult, but not impossible. But this doesn’t imply you shouldn’t start a company in Egypt. The populace has a high level of education and is actively seeking employment. Whatever path you choose to pursue in the Egyptian workforce, the following information will prove useful.
A license to work
If you are a foreign national and would like to work in Egypt, you will need to obtain a work permit. Once you enter the nation on a tourist or entrance visa, you can then apply for a work permit. Having a job offer in hand is necessary so that your prospective employer can be present for the interview. This work visa can be renewed after its initial year of validity. Since the Egyptian bureaucracy is notoriously tough to navigate, it will be beneficial to have your company take a proactive role in driving the process forward.
Setting up shop in Egypt
As a foreigner, you can establish one of three common types of businesses in Egypt. You have the option of starting a sole proprietorship, a partnership, or an LLC. Also, you must file your company’s information with the GAFI regardless of the business structure you establish. You need legal representation to draft the required documentation.
If you plan on opening a restaurant or retail store as a sole proprietor, you will need to submit the appropriate documentation. From serving meals to maintaining sanitary conditions, your business will require numerous licenses. A lawyer can assist you once again in this situation.
There must be a minimum of three shareholders for a joint-stock company to be formed. At least $25,000 USD in issued capital must be paid in full at the time of incorporation, with the remaining $75,000 USD due within 10 years. The Egyptian stock market must make at least 49% of this money available to the general people. In addition, workers must participate in firm management and be given at least 10% of net earnings.
Finally, if you want to form an LLC in Egypt while living abroad, know that you will be barred from engaging in any financial services. One of every three managers must be Egyptian, and the minimum investment is $2,813 USD. However, unless the LLC’s revenues reach 250,000 EGP or about $14,000 in American currency, it is not required to distribute any of those gains to its employees.
A visa to enter Egypt may be difficult to obtain without a confirmed employment offer. Contact the Egyptian embassy before your tripi If you are unsure whether or not a visa is required. It may be tough for unemployed ex-pats to locate well-paying work in Egypt. However, in most cases, immigrants do earn more than their domestic counterparts. It’s never easy to look for work from afar, but with the help of the internet, it’s not impossible to get work in Egypt even if you have little to no experience. If you are looking for work in Egypt, some useful locations to look at are Bayt.com and Wuzzuf.net.
English teachers in need of a job should choose Cairo, with its abundance of international schools and colleges. Many schools post job opportunities on their websites and can also be reached through the same channel
Many chances exist among Egypt’s ex-pat community, and most ex-pats are more than willing to provide a hand to other foreigners in their quest for gainful employment.
Whether you’re looking for a position as a teacher, tour guide, doctor, or banker, networking with other ex-pats in the area is a great method to learn about openings.
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