Egypt

Egypt

Limited Liability Companies no longer restricted by the nationality of the manager

23 Dec 2018

Decree No. 256 of 23 December 2018 (which amends Article 281 of the executive resolution of the Companies’ Law No. 159 for year 1981) relieves limited liability companies in Egypt form the requirement to appoint Egyptian managers. Before the amendment Article 281 provided as follows: “The company’s managers shall fulfill the requirements set forth in article (89) of the law, providing one of those managers at least shall be Egyptian.” After amendment it states, “The Company’s managers shall fulfill the requirements set forth in the Article (89) of the Law.”

Nature of measure:
  • Other regulatory changes
Type:
  • Treatment and operation (Other)
Industry:
  • Not industry specific
Inward FDI:
No
Outward FDI:
No
Sources: