Egypt exempts SMEs, microenterprises of half licenses fees

CAIRO – 17 August 2017: Small- and medium-sized enterprises (SMEs) and microenterprises will be exempted of half the licensing, amending activity and annual follow-up fees, as per the Ministry of Trade’s decision on Wednesday.

Under the issued decision, grievance committees are entitled to exempt SMEs from some non- core conditions to facilitate the licensing procedures for the industrial entities.

Medium industrial enterprises are defined as industrial companies and entities with an annual business volume of not less than LE 50 million ($ 2.817 million) and not more than LE 200 million. As for the new firms and entities of no business volume, their paid- up capital should not be less than LE 5 million and not more than LE 15 million to be included in this category.

Small industrial enterprises are the industrial companies and entities with an annual business volume of not less than LE 1 million and not more than LE 50 million, in addition to new firms and entities of no business volume but of paid up capital of not less than LE 50,000 and not more than LE 5 million.

The decision stated that the microenterprises are those companies and entities of LE 1 million annual business volume and new firms and entities of no business volume but of paid up capital of not more than LE 50,000.

On Wednesday, the Ministry of Trade issued the executive regulations of the law governing facilitating the licensing procedures of the industrial institutions.