In the era of globalization and economic interconnectedness, imported have become an integral component of international trade activities that impact a country’s economy. In Egypt, navigating the process of register an import Company in Egypt and obtaining an import license is critical especially for businesses aiming to bring products into the country. And recent changes in the import licensing laws have streamlined certain aspects, making it essential for Entrepreneurs to understand and comply with the latest regulations.

Definition of Import

Importing is an economic activity involving the introduction of goods or services from a foreign country into the domestic market of a nation. In the context of globalization, imports are integral to international trade.

Importing has several economic benefits, such as expanding consumer choices, helping to meet domestic needs, and promoting healthy price competition.

Features of an Import including:

  • Imports can be manufactured products. These are typically finished products, ready to be sold to consumers. Consumers are people who purchase a product for personal use.
  • Imports can also be resources and raw materials. These capital goods are used to create finished products or are processed in some way before consumers may access them.
  • Imports can be services that are provided from international sources.

Overview of Import Licensing Under the New Law

Law No. 173 of 2023 was enacted to enhance the regulatory framework governing imports in Egypt, aiming to bolster economic efficiency, prevent market disruptions, and align with global trade practices. This law replaces some older regulations and introduces new procedures for obtaining and maintaining an import license in Egypt.

Key Requirements for Import Licensing Under the New Law as following:

  1. Business and Tax Registration: Before applying for an import license, a company must be registered with the Egyptian Commercial Registry and have a valid tax identification number.
  2. Registration with the General Organization for Import and Export Control (GOEIC): This remains a critical step under the new law. Companies must register with GOEIC and demonstrate compliance with quality standards for their products.
  3. Compliance with Safety and Health Regulations: Depending on the product category, additional certifications from relevant authorities, such as the Ministry of Health or the National Telecommunications Regulatory Authority, may be required to ensure product safety and compliance.
  4. Economic Needs Test: A new introduction by Law No. 173 of 2023 is the Economic Needs Test, which assesses the market demand and economic necessity of the imported goods. This step is designed to prevent market saturation and protect local industries.
  5. Application for Import License: Submit a comprehensive application to the Ministry of Trade and Industry, including all necessary documents: business registration, tax card, GOEIC registration, product certifications, and results of the Economic Needs Test.
  6. Trademark and Brand Registration: As part of the crackdown on counterfeit goods, importers must ensure that all trademarks and brands associated with the imported goods are registered in Egypt.

Requirements of register an import Company in Egypt

Establishing an import Company in Egypt need important requirements and documents according to the New Law No. 173 of 2023, and these requirements as following:

  1. Notarized lease contract or ownership contract.
  2. Tax Card in which it grants the owners of the project the authority to practice commercial activity inside Egypt.
  3. Affiliation in the Egyptian Chamber of Commerce.
  4. Registration in the Egyptian Commercial Register.
  5. Import card (registration in the Egyptian importers and exporters register).
  6. Registration with the Sales Tax Authority
  7. Having a current account in an Egyptian bank.

In order for any business to succeed, it must be built and established according to strong rules, and specific controls that protect all parties from exposure to legal violations that may expose individuals to large penalties.

So, if you want to register an import Company in Egypt, you need to cooperate with the “Consortio Law Firm”.

We have the most skilled company formation lawyers in Egypt, as they provide integrated legal services that help you establish your business in a sound legal manner that ensures the continuity of its success and spread.

For further inquiries, Contact us Now via the phone number 002 01028806061 or email us via WhatsApp or email Info@consortiolawfirm.com.