I am looking to set up a small company exporting select items to Europe. I have done alot of online research but most information published relates to large companies rather than just a 'one-man-show' which is what mine will be at the beginning :-)
Can anyone give me any information - or lead me to where I might find it - on the legal process required and the expected costs and timescales involved. Thanks in advance.
Posted by mirox (Member # 4595) on :
Hi Chortle, You basically have one of two options in setting up a small business whether to set up as unlimited liability establishment whiche entails the trader's personal liability for the debts of his trading activities; the other alternative is the limited liability where the trader's liability does not exceed the extent of his participation in the relevant establishment. Unfortunately, the only two ways to set up a limited liability establishment is by setting up a limited liability company or a joint stock company. The minimum capitals for those are L.E 50,000 and L.E 250,000 respectively. In both cases, the law requires more than one shareholder (two and three shareholders, repsectively). Alternatively, you can personally register in the commercial register as an individual establishment, get yourself a commercial register record and a tax file; but, of course, you shall have the unlimited liability issue.
I hope this sets your feet on the right track. Should you need any further information, please send me a Private Message on the forum and I shall respond.