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Ratification of the Board of Directors assembly minutes including amendments

Ratification of the Board of Directors assembly minutes including the Amendment of Articles No. 6 & 7 and the Amended Articles of Association of Joint Stock Companies

Joint Stock Companies

1. A request printed out on the company letterhead; sealed by the respective company seal; signed by the chairperson of the respective company or made by virtue of a duly executed power of attorney, special authorization or an authorization inside the minutes of the relevant meeting; and addressed to the head of the Investment Services Sector.
2. The relevant minutes of BoD meeting as written down in the company's book or as printed out on the company's letterhead. The said minutes must be sealed by the respective company's seal and signed by the BoD chairperson and the secretary on all pages, and must also include at its bottom the acknowledgment stipulated in GAFI CEO Decree No. 480 of 2016.
3. The articles of association of the company as amended (if any).
4. Authorizations (if any).
5. A recent (maximum 3 months old) official copy of the commercial registry.
6. The BoD members' attendance sheet signed by the secretary and the meeting chairperson.
7. An authorization or a power of attorney entitling the attorney to give and receive documents, in the event that such authorization or powers are not included in the relevant minutes of meeting.
8. A copy of the investment gazette along with all its amendments, if it has not been submitted when applying for ratification of the meeting.
9. Service fees payment receipt.
10. A background check on foreign partners (if any).
11. In respect of the matters relating to Sinai Peninsula, the service application form as well as the required documents must completed.
12. A copy of the applicant's personal ID.
13. The following documents are to be submitted based on the type of capital increase:
A. In respect of capital increase through profits, reserves and credit balances, the prior approval of the Economic Performance Sector must be obtained and submitted.

B. In respect of cash increase, a bank certificate indicating payment of at least 10% of the increase must be submitted, provided that the issued capital has been fully paid within the limits of the authorized capital.
14. In the event that any of the company's added objects requires that (prior) special approvals be obtained under the applicable laws, the approvals of the appropriate bodies must be submitted.

Ratification of the minutes of the BoD meeting + the amended articles of association  EGP 1200 
A certificate of issuance of capital increase shares, addressed to the Financial Regulatory Authority (FRA) EGP 400

 One business day from the day subsequent to the date on which the completed application for the obtainment of a certificate of shares issuance addressed to the FRA has been duly received.  
 One business day after the receipt of the approval of the FRA.

E-Portal , ISC

Via the E-portal

1. Register and create your account and workspace and get the authority to deal with the company on the portal www.gafi.gov.eg, then choose the service and provide the required documents, and we will review them.
2. Pay fees using credit cards, and sign documents electronically.
3. We will send all the modification documents to your workspace on the portal.

Via ISC

1. Select the service, take a number from the queue machine , and the documents will be reviewed. 2. Go to the relevant window at the General Department for Legal Affairs of Companies (Amendments Department) to have the relevant application technically reviewed, and then pay the service fees in cash at the cash desk.
3. Head to GAFI to receive a certificate addressed to the FRA.
4. After the receipt of the approval of FRA, visit GAFI to receive the two minutes of BoD meetings and the draft amended articles of association after having been ratified. Then, go to the Egyptian Bar Association to have the ratified articles endorsed, then to the Real Estate Registration and Notarization Department to have it notarized, and then to the Commercial Register to have it entered into the commercial registry of the company.

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