GAFI New Decree For Representative Offices

A recent decree was issued by GAFI (General Authority for Free Zones and Investment) providing new compliance requirements for representative offices in Egypt ("Decree 742 for 2018" or the "Decree").

According to the Egyptian Companies Law No. 159 of 1981 ("Companies Law"), foreign companies are permitted to establish representative offices for the purpose of carrying out market surveys or studying the feasibility of production without entering into any commercial operations activities.

Article One of the Decree provides that representative offices should submit to GAFI an annual report showing the following:

• list of all its employees, their jobs, nationalities, salaries relative to the total amount of the salaries paid by the office;