Our Services
Company Formation
The office provides investment and company formation services through a team of highly qualified specialists who perform the following tasks
- Establishing all types of joint-stock companies, partnerships, sole proprietorships, branches of foreign companies, representative offices, liaison offices, and scientific offices.
- Consultations in the field of corporate affairs and all related and relevant laws.
- Converting the legal form of companies.
- Mergers, divisions, and liquidations.
- Registering companies in (the Commercial Registry and Industrial Chambers, the Industrial Registry, the Capital Market Authority, the Stock Exchange, commercial agents, the Exporters and Importers Registry, financial leasing and private sector contractors, the Egyptian Federation of Construction and Building Contractors).
- Amending the articles of association of companies and adjusting their status, preparing contracts, side agreements, certificates, deeds, bonds, general assemblies of shareholders, boards of directors, shareholders’ records, ownership books, and concessions.
- Assistance in obtaining work and residence permits for non-Egyptians.
- Obtaining the necessary licenses for projects and companies and assisting in resolving their problems with governmental and non-governmental agencies.
Required Documents for Establishing a Company.
Original valid national ID card
Power of Attorney for Establishing Companies
A lease contract with a valid date from the Real Estate Registry
A recent utility bills.
Accounting House Office. Mr. Ali Ahmed
First: Individual establishment:
The Individual establishment is established by one person, who is legally considered a merchant. He must provide the necessary funds to establish his business and carry out its activities. The law does not stipulate a minimum capital for a sole proprietorship. The law stipulates that a person who wants to engage in trade must have reached the age of twenty-one and be fully competent. However, anyone who has not completed twenty-one years of age may engage in trade with special permission from the competent court, and the trader must be Egyptian.
Second: Individual companies
Joint liability partnership companies
Limited partnership companies
These companies are called individual establishment because they are based primarily on personal consideration.
It is usually created by a small number of people who are related or friendly and each of them places trust in the other so that the character of each partner is taken into consideration by the other partners. Given the importance of personal consideration in this type of company, the company is dissolved upon the death, incapacity, or withdrawal of a partner, furthermore, no partner may relinquish his or her share in the company without the consent of all partners.
An example of this type of company is a general partnership, which consists of joint partners. This means that all partners are personally and jointly liable for all the company’s debts owed by them, and their liability is not limited to the shares contributed to the company. These companies are very similar to civil companies, which are also based on personal considerations, although they differ in terms of the joint liability of the partners. This type also includes limited partnerships.
Third: Capital Companies
These companies, unlike the previous type, do not rely on personal consideration, nor does it play a role in these companies. Rather, they are primarily based on raising the capital necessary to exploit the company’s activity. Therefore, financial consideration takes precedence in these companies. The clear model for these companies is the joint-stock company. Capital companies often undertake large projects that require substantial capital, which a limited number of partners are unable to provide, as is the case with personal companies. Therefore, these companies rely primarily on the public of subscribers, as the company’s capital is divided into shares of equal value. The value of each share is usually low, enabling a large number of people with limited income to subscribe to it. The liability of the shareholder in this company is limited to the value of the shares subscribed to.
These companies are considered relatively new, as they were introduced into Egyptian legislation for the first time by Law No. 26 of 1954, which was repealed by Law No. 159 of 1981. The limited liability company is similar to personal companies in that the number of partners in it may not exceed fifty partners, and that the partner’s share in it is not tradable through commercial means, but rather its trading is subject to certain restrictions, the most important of which is the possibility of recovering this share to the partners, and that it may not be established through public subscription, and ultimately it may not issue tradable shares or bonds. This company is close to capital companies in terms of its management system and establishment, and in terms of determining the liability of the partners in it and the transfer of each partner’s share to his heirs.
The single-person company is one of the results of the largest amendment of its kind to the Companies Law, as one of the pillars of the economic legislative structure. Chapter 4, titled “Single-Person Company,” was added to Chapter 2 of the Companies Law with the aim of encouraging small and medium-sized enterprises and entrepreneurship.
It is characterized by limited liability, limited to the value of the capital provided by its owner, not exceeding his own funds. This encourages investors to invest a certain portion of their funds in establishing this company.
A single-person company shall have articles of association that include its name, objectives, information about its founder, duration, management method, the address of its head office, its branches, if any, the amount of its capital, its liquidation rules, and any other information specified by the executive regulations.
Financial and accounting services
A financial and accounting system is a critical factor for any company’s success, as it is the only means of measuring the company’s results. A good accounting system will make current and future decision-making easier. Therefore, we provide a wide range of accounting services to our clients, from establishing an accounting system to bookkeeping and recording, preparing bank and credit reconciliations, inventory reconciliations, and preparing financial statements and performance indicators for companies. We also handle the preparation of tax returns in accordance with the various tax laws in Egypt, as well as preparing payrolls and calculating monthly social insurance benefits. All of this is performed by specialists with sufficient academic and practical experience. By providing these services to our clients, we aim to reduce the stress and confusion resulting from shouldering this critical role for any company, which can cost significant time, effort, and money if you rely on an unqualified team that is not up to date with the latest developments in accounting standards and local tax laws.
bookkeeping
Preparing income tax returns, deductions and additions
Preparing the monthly trial balance
Preparing performance indicators reports
Financial position every 3 months
Preparing inventory adjustments
Preparing the final financial statements
Preparing the annual income tax return
Entering and recording daily transactions
Preparing analytical revenue and expense reports
Preparing bank and credit reconciliations
Preparing analytical reports for customer and supplier balances
Preparing analytical reports for debit and credit balances
Preparing the monthly payroll
Preparing a value-added tax declaration
You can choose from corporate accounting services according to your company’s needs.
Financial Audit
Auditing, as defined by the American Accounting Association, is “a systematic and organized process of objectively gathering and evaluating evidence relating to the results of economic activities and events, determining consistency and conformity between these results and established standards, and communicating the results to interested parties.” The audit process is conducted in accordance with International Auditing Standards, Egyptian Auditing Standards, and relevant Egyptian laws and regulations to achieve reasonable assurance that the financial statements are free of errors or misstatements. The audit includes the following:
- Conducting a test review of the entity’s accounting records and documents in accordance with the planned review procedures in light of the entity’s circumstances.
- Examining and evaluating the accounting principles and policies followed by the facility and the allocations determined by the facility’s management through estimation.
- General evaluation of the method of presenting the financial statements and the disclosures and explanations they contain.
- Conducting a periodic review throughout the year that includes examining and evaluating the accounting systems and internal control systems applied by the establishment, conducting all necessary tests to verify the soundness and efficiency of the application of these systems, and exerting the necessary professional effort to discover significant errors and violations that may have an impact on the establishment’s financial statements.
- If any important observations emerge from the periodic review, they will be sent in a report to the facility’s management, including these observations and recommendations for addressing them, after discussing them with the facility’s management.
Conducting a final year-end review that includes the following:
Examining and reconciling the final accounts with the accounting records.
Examine the income statement to ensure that it accurately reflects the results and operations of the facility.
Verifying the existence of assets shown in the budget, their value, and the amounts of liabilities and provisions to ensure that the budget clearly reflects the true financial position.
Ensure that the disclosure and presentation of the supplementary notes to the financial statements are in accordance with generally accepted accounting principles and in accordance with applicable laws and regulations.
Preparing the auditor’s report on the financial statements at the end of the fiscal year. Upon completion of the final audit, if any comments are found regarding the review of the financial statements or any other comments other than those stated in the report on the results of the periodic audit, a report containing our comments on the final audit will be sent after discussing it with the facility’s management.
Tax Services
Tax Consulting
We offer a variety of tax consulting services through our experts specializing in various tax stages and through our relationship with the Tax Authority and its senior staff. This helps ensure you’re on the right track and avoid mistakes that could cost your company dearly.
Preparing and Submitting Tax Returns
Preparing tax returns is a very important matter, with future repercussions that could cause significant harm to any company. If the returns submitted to the tax office are not in compliance with the laws and periodic executive instructions, the tax audit may reveal unpaid tax differences, in addition to the interest imposed under tax laws. Therefore, you must be careful when preparing your tax return thoroughly and review the executive instructions to avoid a clash with the tax office and a real crisis for your company. At Abu Al-Wafa Office for Financial and Administrative Systems, we provide this service to our clients, follow up continuously, and prepare and submit all types of tax returns (income tax, value-added tax, withholding and addition tax, stamp tax, and labor income tax, etc.) in accordance with applicable laws and executive instructions to ensure the best results in the tax audit and maintain corporate stability.
Tax Audit
We have a specialized team to handle all types of tax audits at various stages. Our relationship, spanning over 25 years with most tax offices in Egypt, makes our mission easier in regularizing our clients’ status with the Egyptian Tax Authority. This includes examining tax returns and supporting documents, and appearing before various tax offices and committees to provide all necessary responses and answer any inquiries that may be requested by tax authority employees. This saves time for both the taxpayer and the tax office, and ensures the best possible results in compliance with tax laws and various executive instructions.
Feasibility Studies
Economic feasibility studies for projects are an important and highly influential tool when choosing a new investment project. The primary goal of a feasibility study is to examine the feasibility of the project, achieve the maximum possible return from available resources, generate profits or returns that exceed the cost invested, and reach a final decision to accept or reject the idea. These studies are submitted to a bank when applying for financing, and also to the Industrial Development Authority to obtain an industrial plot of land.
Financial Study
- Study of revenues and proposed selling prices.
- Preparing income statements and future cash flow statements for the project.
- Financial and economic indicators.
- Analysis of profitability, liquidity and capital payback period.
- Project evaluation.
- General recommendations about the project from an economic and social point of view.
Technical Study
- Studying and selecting the project site.
- Planning the production process and production stages.
- Selecting and specifying production equipment.
- Determining the operating cycle.
- Study of fixed and variable costs.
- Estimating the investment costs required for the project.
Market study
- The importance of the project to the market.
- Identify target groups.
- Identifying competitors.
- Measuring market acceptance of the product.
- Studying supply and demand for the product.
- A mini-study of the marketing methods used for the product and proposing the most appropriate marketing methods to achieve the targeted sales.
Banking and housing-related services.
Obtaining appropriate financing at every stage of a project is one of the most important challenges facing any investor, especially startups. Therefore, we assist our clients by providing a variety of financing alternatives and opportunities, whether from specialized financial institutions or personal financing entities, such as:
- Financing from banks and private funds, as we ensure compliance with the requirements of the entity, provide all required documents, communicate with the financing entity, and facilitate all procedures until the required financing or loan is approved.
- Personal financing by finding investors or partners who have capital and are willing to invest in startups, especially innovative and distinctive projects.
- Investment funds for investment companies that have a financial surplus and wish to invest it in an existing project that will generate a large profit in a short period without entering into the cycle of management.
In addition, we manage cash flow and follow up with clients on a regular and ongoing basis to ensure the project’s financing is being managed, its commitment to repayment, and its relationships with banks. We also study and monitor expected and unexpected differences between incoming and outgoing cash flows, and assist clients in handling excess cash in an appropriate manner in order the organization benefit from it in the future. These services are essential for projects and individuals that needs bank financing or applying for housing projects to obtain residential and administrative apartments. To get these services, the following documents must be prepared for the banks:
- Preparing financial statements and budgets for banks.
- Preparing certified income certificates for both companies and individuals.
- Issuing tax and insurance status certificates for companies.
Financial, Accounting, and Tax Consulting
The office has a team with extensive knowledge of all laws and procedures and is ready to answer all your inquiries.