Arab Finance: The General Authority for Investment and Free Zones (GAFI) has reduced the number of documents required from companies for post-incorporation services to save time and effort, the authority said in a statement.
This step aims at improving the investment climate in Egypt, CEO of GAFI Hossam Heiba said.
The canceled documents include approval applications and nomination letters of board members and executives as well as those related to attending and holding board meetings, appointing and accepting the resignation of members, appointing auditors, and reporting the death of partners or shareholders.
On August 9th, the authority announced the launch of its e-incorporation service by establishing the first company via its digital portal to improve the services offered to investors as well as boost Egypt’s position in competitiveness indices.