One of the most important services we offer is the establishment of new companies and providing legal services for these companies, from the establishment procedures to all legal issues related to this company through our legal agency. We provide legal assistance to individuals, whether Egyptians, foreigners, or commercial entities to establish their activities legally and help them choose the appropriate legal form for their companies according to Egyptian law. We also have extensive experience in establishing companies quickly, accurately and efficiently. In addition, we offer a service for opening branches for foreign companies in Egypt, which is closely related to the establishment of companies. As we mentioned earlier, one of the most important factors in the success of companies is choosing the appropriate legal form for their activities and investment size.
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Definition of Company Formation Service
Setting up companies is one of the things that many small business owners or those who want to establish their own commercial activity wish to understand.
Everyone who wants to establish a company wants to know the type of company that can be chosen, as well as the correct steps to establish a company, and also the documents required to do so.
Establishing and founding a company from the beginning without committing any violations is the first step to launching your own business project and ensuring its presence without being exposed to legal and financial problems later on.
So let us take you on a quick tour to learn about the steps to create and establish your own company.
Steps to Establish Companies
Establishing companies is not a difficult task as many people think, but there is some initial information that you must keep in mind before starting the procedures to establish the company, and among the most important of these are:-
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Company Formation Steps
You must determine the type of company you intend to establish, as there are many types of companies that you can establish, and each type differs from the other in the required registration papers as well as the legal liability that will fall on your shoulders.
Examples of the types of companies that you can register include a sole proprietorship, which is the simplest type of company that you can establish, as well as partnerships, limited liability companies, and joint-stock companies.
It is necessary to specify the activity that the company will engage in, such as commercial, industrial, or other activities, in the registration application.
Note that there are activities that require you to provide some certificates with the registration request, such as journalistic, medical, and agricultural activities.
One important step in establishing a company is choosing a trade name for the company, which is the name that will be displayed to the public and can be put on the company’s sign.
It is important to choose a unique name that has not been used before by other companies, and to provide a logo for the company that represents its activity.
It is also important when applying for company establishment to clarify the capital with which you will start, according to your own financial capacity and that of your partners, if any.
There are some companies that require a minimum capital that must be started with.
It is important to clarify whether you will undertake the project alone or if there are partners who will be with you, and if there are partners, do they have the right to participate in management with you.
Or will you be managing and the role of the partners is only to contribute to the capital.
Generally, establishing a company requires many documents and papers to be submitted in order to complete the process.
There are common documents that all types of companies submit, including your ID card or passport which should be valid.
Completing the company establishment form and paying the company establishment fees, which vary depending on the type of company and its capital.
You also need to sign in front of the competent employee in the companies department, and some companies require some special documents.
For example, establishing a limited liability company requires providing a bank statement that proves you own a percentage of the company’s capital.
Some companies require proof that you are working in the field of the company’s activities, such as medical activities and other similar activities.
After completing your procedures, you will go to the competent department to officially register the company.
Once you obtain the approval to establish the company, you can start working and practicing your company’s activities in accordance with the laws applicable in your country.
List of Services we Provide:
In addition to those mentioned above, the following list below includes the services we provide. These are the accounting constraints and reports that we can handle skillfully, and ensure that everything is organized with your financial side:
- Preparing the daily journal
- Revenue/sales migration
- Payment migration
- Calculating depreciation
- Received materials account migration
- Salary accounting
- Fixed assets, depreciation
- Collection accounts
- Credit and discount accounts reconciliation
- General budget
- Cash flow statement
- Migration of daily journal entries
- Migration of amounts received
- Purchase invoice migration
- Issued materials migration
- Project accounting
- General management and expenses
- Bank reconciliations
- Creditor accounts reports
- Audit balance sheet reports
- Profit and loss account
The International Accounting Standards are primarily applied to joint stock companies and companies listed on the stock exchange or registered with the Companies Authority, and the major accounting firms specialize in auditing the accounts of these companies. Smaller companies and entities can have their accounts audited by “smaller accounting firms” that can assist the client in all areas from bookkeeping to tax and insurance work, and provide continuous and close support to the client. Thus, these smaller firms differentiate themselves in their service to these clients as compared to larger firms.
Regulatory requirements around the world are increasing day by day and must be followed and complied with. International accounting standards and their interpretations are voluminous. The auditor must ensure that the company or entity he audits has complied with these standards, so he must have a complete understanding of these standards and know how appropriate the standard is to the situation he is auditing and the different ways the standard can be applied.
The auditor’s report is what reassures the company’s shareholders, lenders, and board of directors that it is on the right track, as well as reassuring the tax authority. It is a great responsibility.