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Foreign Direct Investment (FDI) Reporting
Effective this month the General Authority for Investment (GAFI) began to implement the requirements regarding the notification of foreign shareholders as set forth under the recent amendment to the Investment Law by virtue of the law no. 141/2019 (the “Amendment”).
The Amendment mandates all companies with foreign shareholders - regardless of the type of law governing the relevant company- to file and report their foreign shareholders data to GAFI quarterly. The Minister of Investment - has pointed out during a recent meeting held at the Ministry, that the notification requirement under the Amendment is for data collection and statistical purposes.
 
The Amendment penalizes failure to comply with the notification requirement with a fine of up to EGP 50,000. In practice, GAFI may also suspend its services to non-compliant companies.
The grace period for complying with the notification requirement is 45 days from the lapse of each quarter, the above-mentioned fine will be imposed starting from the next quarter.
 
You can file your data on GAFI’s

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