On December 30, 2018, an amendment to the Executive Regulations of Egypt's Companies Law No. 159 of 1981 was enacted by virtue of the Decree of the Minster of Investment and International Cooperation No. 256 of 2018 (the "Decree")
The Decree amended Article 203 sub-section 1 and Article 281 sub-section 1 of the Executive Regulations of Egypt's Companies Law No. 159 of 1981
Article 281 of the Executive Regulations provided that at least one of the managers of a limited liability company must be an Egyptian national. The Decree abolished said requirement.
The Decree is effective as from December 31, 2018.
What it means for you
Starting from December 31, 2018, limited liability companies are not required to have an Egyptian manager and all managers can be foreign ones.
However, with respect to certain activities (e.g. importation, commercial agency, commercial intermediation, …etc.), limited liability companies are still required to have an Egyptian manager in order to be in compliance with the laws and regulations governing