The Egyptian Law No 8/1997 "on Investments’ Guarantees and Incentives"

THE PROMULGATION ARTICLES .1

,In the name of the people
The President of the Republic

The People's Assembly Passed The Following Law And It Has

:Been Promulgated
DECIDED

(First Article)
The provisions of the attached Law shall govern investment
.guarantees and incentives

(Second Article)
With due regard to the provision of Article 18 of the
attached Law, which provisions shall not affect the tax
privileges and exemptions, and other guarantees and
incentives established for the companies and the existing
establishments at the time of its enforcement. Such
companies and establishments shall continue to maintain such
privileges, exemptions, guarantees and incentives, until expiry
of their specified terms, and in accordance with the
.legislations and agreements wherefrom they emanate

(Third Article)
The General Authority for Investment and Free Zones is the
competent Authority, which shall exclusively apply the
provisions of this Law, and the Laws of Joint Stock Companies,
Partnerships, and Limited Liability Companies promulgated by
Law No.159 of 1981, and Law No. 95 of 1995 concerning
Financial Lease, and its Executive Regulations. The aforesaid
shall be without prejudice to the provisions of the Capital
Market Law promulgated by Law No. 95 of 1992, and Law No.
148 of 2001 regarding Real Estate Financing. The Authority
shall not be Restricted to the governmental rules and
regulations concerning the financial and administrative
matters, which shall be regulated by a decree issued by the
.President of the Republic
The Authority's Board of Directors shall issue the Internal
Regulations and Executive Resolutions pertaining to the
Authority's financial, administrative and technical matters,
and shall set up its organizational structure, and shall take all
necessary procedures to manage the Authority and organize
its work. The Authority's Board of Directors may establish
.offices for the Authority, in the country or abroad
To such end, the Authority may seek the assistance of the
best national and international professionals and expertise
with no restrictions to the limitation provided in any
legislation concerning the remuneration of employees,
.directors and expert advisors
The Authority shall have a private account in which its
proceeds shall be deposited, and the balance of such account
.shall be carried forward from one year to another
The Authority's Board of Directors shall approve its draft
budget and final accounts prior the approval of the Prime
.Minister and submittal before the People's Assembly

(Fourth Article)
Without prejudice to the provisions of the preceding Article,
the Investment Law
promulgated by Law No. 230 of 1989 shall hereby be repealed,
except for paragraph (3) of Article 20 of the aforementioned
Law, and Articles 5 and (5 bis) of Law No.1 of 1973 concerning
hotel and tourist facilities, and Articles 21, 24 and 25 of Law
No. 59 of 1979 concerning New Urban Communities, and
.Article 30 of Law No. 95 of 1995 concerning Financial Lease
Any other provision in breach of the provisions of the
.attached Law shall, likewise; be repealed

(Fifth Article)
The Prime Minister shall issue the Executive Regulations of
the attached Law within three (3) months from date of its
enforcement. Pending the issuance of such Regulation, the
prevalent regulations and decrees on the date of the
enforcement of this Law shall continue to apply where they do
.not conflict with its provisions

(Sixth Article)
This Law shall be published in the Official Gazette, and shall
come into force the day following the date of its publication.
This law shall bear the State Seal and shall be enforced as
.one of its Laws
Issued by the Presidency on 11th of May 1997 Hosny Mubarak
Issued By The Presidency On 4 Muharram 1418 A.H.
.Corresponding To 11th of May 1997 A. D

THE INVESTMENT GUARANTEES

AND INCENTIVES LAW
PART ONE
GENERAL PROVISIONS
ARTICLE I
 The provisions of this law shall apply to all companies and
establishments to be incorporated after the date of its
enforcement regardless of the legal form governing them, for
:exercising their activities in any of the following fields
Reclamation and cultivation of barren and desert land, or **
.either of them
.Animal, poultry and fish production **
.Industry and mining **
Hotel, motels, hotel apartments, tourist villages and tourist **
.transport
Goods' reefers; refrigerators for the preservation of **
agricultural crops, manufactured products, foodstuffs,
.container's depots and grain silos
.Air-transport and services directly related thereto **
.High-seas maritime transport **
Petroleum services supporting drilling and exploration **
.operations, and the transport and supply of natural gas
Housing of which all units are leased unfurnished for other **
.than administrative housing purposes
Infrastructure including drinking water, sewage, electricity, **
.roads and communications
Hospitals, medical and therapeutic centers which offer 10% **
.of their service free of charge
.Financing lease **
.Guarantee subscription of securities **
.Risk capital **
.Production of computer software and systems **
.Projects financed by the Social Fund for Development **
The Council of Ministers may add other fields as deemed
.needed for the country
The Executive Regulations of this Law shall determine the
.conditions and limits of the fields referred to herein
 ARTICLE 2
The investment guarantees and incentives, including tax
exemptions, enjoyed by the companies and establishments
with multi-purposes and activities, its activity shall be limited
to the fields defined in the preceding Article and those which
.the Council of Ministers may add

ARTICLE 3
The provisions of this Law shall not prejudice any tax
privileges or exemptions or other favorable guarantees and
.incentives established by other legislations or agreements

ARTICLE 4
Corporations established according to the provisions of this
Law shall be subject to the provisions of Articles 17, 18 and 19
of the Law on Joint Stock Companies, Partnerships
Limited by Shares, and Limited Liability Companies
promulgated by Law No.159 of 1981 and the statutes of said
corporations hall be published according to the rules and
procedures determined by the Executive Regulation of this
.Law
License for the establishment of personal companies according
to the provisions of this Law, shall be issued by a decree from
the competent Administrative body after reviewing the
principal data of the incorporation contracts of these
companies. These companies shall acquire their legal entity,
from the date of registration in the Commercial Register. The
Articles of Incorporation shall be published according to the
rules and procedures determined by the Executive Regulations
.of this Law
Irrespective of the legal form, the signatures of the partners
or their representatives on the Articles of Incorporation must
 be notarized against payment of a notarization fee equal to
one quarter percent of the value of the paid-in capital with a
maximum limit of L.E. 500 (Five Hundred Egyptian Pounds), or
its equivalent in foreign currency, as the case may be, whether
notarization is effected in Egypt or before the Egyptian
.Authorities abroad
The foregoing provisions shall apply to every amendment made
.to the company statutes

ARTICLE 5
The Competent Authorities shall assume the appropriation of
lands owned by the State to investors according to the
governing legislations through the offices established at the
Authority and its branches. Such offices shall establish a
data**** on the lands available for appropriation, its areas,
location, prices, and the conditions of its disposal. Such
information shall be periodically updated and whenever so
required. Such offices shall also maintain maps issued by the
.National Center for Planning the use of State owned lands
The Authority shall take all measures to have such information
.available to investors
Lands for investment may not be offered before ascertaining
non-existence of any dispute thereon. Also the offered areas
and prices may not be modified after an announcement
.thereof has been made
Neither amendment of prices nor addition of improvement
fees may be to these prices after disposal; unless expressly
.provided in the agreement
Moreover, execution or announcement concerning the disposal
contracts of State owned lands concluded with its
organizations, public authorities, public sector companies or
public business sector companies may not be terminated ****d
 on to the existence of a dispute between such bodies
.concerning these lands

ARTICLE 6
Application for the filing of criminal claim for the crimes
provided in Article 124 of the Customs Law No. 66 of 1963,
Article 191 of the Income Tax Law No. 157 of 1981, Article 45
of the General Sales Tax Law No. 11 of 1991 and Article 9 of
Law No.38 of 1994 regulating transactions of Foreign
Currencies, shall be submitted after seeking the opinion of
the Competent Administrative Authority in case the accused
of committing the crime is affiliated to one of the companies
.or establishments subject to the provisions of this Law
The Competent Administrative Authority shall express its
opinion in this regard within fifteen (15) days from date of
receiving the letter seeking such opinion, otherwise;
.application for filing the claim may be processed

ARTICLE 7
The investment disputes regarding the implementation of the
provisions of this Law may be settled in the manner agreed
upon with the investor. The parties concerned may also agree
to settle such disputes within the framework of the
agreements in force between the Arab Republic of Egypt and
the country of the investor, or within the framework of the
Convention for the Settlement of Disputes arising from
investments between the States and nationals of other
countries, which the Arab Republic of Egypt has adhered to by
Law No. 90 of 1971, and pursuant to the conditions, terms and
cases where such agreements do apply, or according to the
provisions of Law No .27 of 1994 concerning Arbitration of
Civil and Commercial Issues. It may also be agreed to settle
 said disputes through arbitration before the Cairo Regional
.Center for International Commercial Arbitration

PART TWO
INVESTMENT GUARANTEES
ARTICLE 8
Companies and establishments may not be nationalized or
.confiscated

ARTICLE 9
Companies and establishments may neither be sequestrated
nor may their assets be subject to administrative attachment,
.seized, restrained, frozen, or expropriated

ARTICLE 10
No administrative authority may intervene in pricing the
products of companies and establishments nor in determining
.their profits

ARTICLE 11
No Administrative Authority may cancel or suspend, in whole
or in part, a license for usufruct of real estate, which the
company or establishment is licensed to utilize, except in case
.of breach of the conditions of the license
A decree terminating or canceling a license shall be issued by
the Prime Minister upon a proposal of the Administrative
Authority. The involved party may challenge such decree
before the Administrative Courts within thirty (30) days from
.date of notification or acknowledgement thereof
 ARTICLE 12
Without prejudice to the disposals that occurred prior to the
effective date of this Law, companies and establishments shall
have the right to own land and realty which are necessary for
the performance of expansion of their activities regardless of
the nationality of the partners and shareholders, their
domicile or the percentage of their partnership or
shareholding in the capital. This is with the exception of land
and realty located in areas which are determined pursuant to
the issuance of a decree by the
Council of Ministers wherein the conditions and rules for
disposal are determined

ARTICLE 13
Without prejudice to the laws, regulations and decrees
governing importation, and without need for their recordal on
the Importers' Register, the companies and establishments
shall have the right to import, by themselves or through third
parties, all production requirements, materials, machinery,
equipment, spare parts and means of transport suited to the
nature of their activity, as may be required for their
.construction, expansion or operation
Companies and establishments may also export their products,
by themselves or through intermediary, without license nor
.the need for recordal on the Exporters' Register

ARTICLE 14
Joint Stock Companies, partnerships limited by shares or
limited liability companies whose activities are limited to the
fields mentioned in Article 1 of this Law shall not be subject
 to the provisions of Articles 17, 18. 19 and 41, and the first
and fourth paragraphs of Article 77 and Articles 83. 92 and
93 of Law No. 159 of 1981 concerning Joint Stock Companies,
Partnerships Limited by Shares and Limited Liability
.Companies
Equity portions and shares may be negotiated during the first
two fiscal years of the company upon the approval of the
.Prime Minister or his authorized designee
The Competent Authority shall replace the Companies'
Department in applying the provisions of Law No. 159 of 1981,
Executive Regulations with regard referred to herein, and its
.to the aforementioned companies
Joint Stock Companies shall not be subject to Law No. 73 of
1973 determining the Conditions and Procedures for Election
of the Workers' Representatives on the Boards of Public
Sector Units, Joint Stock Companies, Private Societies and
Establishments. The Statutes of the Company shall specify
the method of the workers' participation in its management
and in the manner determined by the Executive Regulation of
.this Law

ARTICLE I5
Joint stock companies shall be excepted from the application
of Law No. 113 of 1958 concerning employment in the Joint
Stock Companies and Public Organizations, and Article 24 of
.the Labor Code issued by Law No . 137 of 1981

PART THREE
INVESTMENT INCENTIVES
CHAPTER O N E
TAX EXEMPTIONS
 ARTICLE 16
Is hereby repleaded by article 3 (issued) of law No.91 of 2005

ARTICLE 17
Is hereby repleaded by article 3 (issued) of law No.91 of 2005

ARTICLE 18
Is hereby repleaded by article 3 (issued) of law No.91 of 2005

ARTICLE 19
Is hereby repleaded by article 3 (issued) of law No.91 of 2005

ARTICLE 20
Contracts of incorporation of companies and establishments
and loan and mortgage contracts related to their business
shall be exempt from the stamp tax as well as notarization and
publication fees for a period of five (5) years from the date
.of recordal on the Commercial Register
Contracts of registration of lands necessary for the
establishment of companies and establishments shall also be
.exempt from the above mentioned tax fees

ARTICLE 21
Is hereby repleaded by article 3 (issued) of law No.91 of 2005
 ARTICLE 22
Is hereby repleaded by article 3 (issued) of law No.91 of 2005

ARTICLE 23
The provisions of Article 4 of Law No. 186 of 1986 regulating
Customs' Exemptions, concerning the collection of customs
duty at a fixed rate of 5% of the value shall apply to the
companies and establishments to all of their imports of
machinery, equipment, and appliances necessary for their
.establishment

:ARTICLE 23 Bis
Is hereby repleaded by article 3 (issued) of law No.91 of 2005

ARTICLE 24
Is hereby repleaded by article 3 (issued) of law No.91 of 2005

ARTICLE 25
Is hereby repleaded by article 3 (issued) of law No.91 of 2005

ARTICLE 26
Is hereby repleaded by article 3 (issued) of law No.91 of 2005

ARTICLE 27
The Executive Regulations of this Law shall define the
conditions, rules and procedures related to enjoying tax
exemptions automatically and without dependence on any
 administrative approval, provided the exemption shall be
.cancelled in case of breach to any of such conditions and rules
The Prime Minister shall issue a decree canceling the
exemption upon a presentation from the Competent
Administrative Authority. The party concerned may challenge
such decree before the Administrative Courts, within thirty
(30) days from the date of notification or acknowledgement
.thereof

CHAPTER TWO
ALLOCATION OF LAND
ARTICLE 28
The Council of Ministers may, upon the proposal of the
Competent Minister, issue a decree allocating the lands owned
by the State or by public legal bodies to companies and
establishments to be constructed in certain areas in the fields
specified in Article 1 hereof, and free of charge pursuant to
the procedures provided in the Executive Regulation of this
.Law

CHAPTER THREE
FREE ZONES
ARTICLE 29
The establishment of the free zone covering an entire city
.shall be established by a Law
Public free zones shall be established by a decree from the
Council of Ministers upon the proposal of the Competent
Administrative Authority for the purpose of setting up duly
.licensed projects, whatever their legal form
The Competent Administrative Authority may issue a decree
for the establishment of private free zones, each of which
shall be confined to one project, if the nature thereof shall so
 .require
In light of the controls set forth in the Executive Regulations
of this Law, the Competent Administrative Authority may also
approve the transformation of inland projects into a private
free zone. The decree issued for the establishment of a free
.zone shall indicate its location and boundaries
Public free zone shall be managed by a board of directors
formed and its Chairman appointed by a decree issued by the
.Competent Administrative Authority
The board of directors shall be have competence over the
implementation of the provisions of this Law, its Executive
.Regulations, and the decrees issued by the said Authority

(ARTICLE 29 (Bis
An authorization may be issued for the transfer of companies
and establishments located inside the Public and Private Free
Zones to conduct activities under the Internal Investment
System. Companies and establishments that have been
transferred shall be exempted from the payment of any taxes
or custom duties on imported equipment, machinery, devices,
production lines, components thereof and spare parts, that
are required for the activity, at the depreciation rates
thereof and provided that twelve months have lapsed from
the date of commencement of the activity or of production
.inside the Free Zone
The authorization and exemption referred to in the preceding
paragraph, shall take place in accordance with the conditions,
controls and procedures determined in the Executive
.Regulations of this Law

ARTICLE 30
The Competent Administrative Authority shall lay down the
 policy to be pursued by the free zones, and may adopt such
resolution as it deems necessary to achieve the purpose for
:which such zones have been established, particularly
a) Laying down the systems and regulations necessary for )
.management of free zones
b) Laying down the conditions for granting licenses, and )
occupancy of lands and buildings, the rules governing ingress
and egress of goods and their recordation, the fee for the
warehousing of such goods, the examination of documents and
auditing, the system of controlling and guarding these zones
.and collecting dues owing to the State

ARTICLE 31
The Board of Directors of the Free Zones shall issue a
preliminary approval for the establishments of companies and
establishments inside said Zones. The competent
administrative body shall issue a decree for the incorporation
of such companies and establishments. The chairman of the
Board of Directors is authorized to issue licenses for these
.companies and establishments to practice their activities
The license shall indicate the purposes for which it is granted,
its term and the amount of financial guarantee to be paid by
the licensee. This license may not be assigned, in whole or in
part, except upon the approval of the authority issuing the
same. Denial of license or of assignment thereof shall be by a
causative resolution. The party concerned may lodge a
complaint there-against with the Administrative Authority
Concerned in accordance with the rules and procedures set
.forth in the Executive Regulation
The licensee shall not enjoy the exemptions or privileges
provided for in this Law except to the extent of the purposes
.indicated in the license
 ARTICLE 32
With due regard to the provisions set in the laws and
regulations banning dealings in certain goods or materials,
goods exported abroad by the free zone projects or imported
for the pursue of their activity, shall not be subject to the
rules governing import and export, nor to the customs
procedures related to exports and imports. Such goods shall
also not be subject to customs taxes, the general sales tax
.and other taxes and duties
With the exception of passengers' cars, all types of tools,
supplies, machinery and all different means of transportation,
necessary for pursuing the activity licensed for all kinds of
projects existing inside the free zones, and if the nature and
necessity for pursuing such activity requires its temporary
exist from the free zone inside the country and return
.thereto
The aforesaid shall apply to the tools, supplies and machinery,
according to the cases, guarantees, conditions and procedures
as specified by a decree issued by the Prime Minister ****d
on the proposal of the Minister of Finance and Head of the
.Authority
The Executive Regulation of this Law shall determine the
procedures of moving and securing the goods from the point
.of unloading until its arrival at the free zone and vice versa
The Competent Administrative Authority may, in the manner
specified by the Executive Regulation of this law, allow the
temporary ingress of local and foreign goods, materials, parts,
and raw materials, owned by the project or by third parties,
from inside the country into the free zone, on a temporary
basis, for repair, or for conducting Manufacturing processes
thereon and thereafter return inside the country, without
being subject to the applicable import rules. Customs' duties
shall be collected in respect of the repair cost pursuant to the
provisions of the Customs' Laws
The provisions of Article 33 of this Law shall apply to
.manufacturing processes

ARTICLE 33
Import from the free zones into the country shall be subject
to the general rules applicable to imports from abroad.
Customs taxes on goods imported from the free zone into the
local market, shall be paid as if they were imported from
.abroad
As for the products imported from free zone projects, and
which comprise local and foreign components, the customs tax
**** therefore shall be on the value of the foreign
components at the prevalent prices at the time of their
egress from the free zone into the country; provided the
customs tax due on the foreign components shall not exceed
.the tax due on the final product imported from abroad
The foreign components shall consist of the imported foreign
parts and materials as per its condition upon ingress into the
.free zone, exclusive of the operating costs in that zone
In determining freight costs, the free zone shall be deemed
.the country of origin for the products manufactured therein

ARTICLE 34
The director of the free zone customs shall notify the zone
Chairman of any unjustified cases of shortage or overage, as
compared with the bill of lading to the number of packages, or
their contents, or to the packed or loose (bulk) goods, if they
.were consigned to the free zone
The Competent Administrative Authority shall issue a decision
regulating liability for the cases provided for in the preceding
.paragraph and the ratio of tolerance therein

ARTICLE 35
Projects established in the free zones, and dividends to be
distributed, shall not be subject to the provisions of the tax
.and duty laws valid in Egypt
Such projects, however, shall be subject to an annual fee of 1
% (one percent) of commodity value upon ingress with respect
to the storage projects and of commodity value upon egress
concerning the manufacturing and assembly projects. Transit
trade goods with fixed destination shall be exempt from this
.duty
Projects whose main activity does not necessitate the ingress
or egress of commodities, shall be subject to an annual fee of
1% (one percent) of the aggregate revenues thereby realized
****d on accounts accredited by one of the chartered
.accountants
In all cases, projects shall pay a services charge determined
.by the Executive Regulation of this Law

ARTICLE 36
Companies conducting their activities under the Free Zones
Systems shall not be subject to the provisions of Law No.
73/1973 determining the conditions and procedures of
electing labor representatives to the board of directors of
public sector units, joint stock companies and non-
governmental organizations and private societies and
.organizations
 ARTICLE 37
Maritime transport projects established in free zones shall be
exempt from the conditions related to the nationality of the
vessel owner and its crew as are provided for in the Merchant
Marine Law, and in Law No. 84 of 1949 concerning Registration
.of Merchant Vessels
Vessels owned by such projects shall also be excepted from
the provisions of Law No.12 of 1964 Incorporating the
.Egyptian General Organization for Maritime Transport

ARTICLE 38
The licensee shall insure all buildings, machinery and
equipment against all accidents, and shall remove the same, at
his own expense within the period to be determined by the
zone board of directors in accordance with the rules laid down
.by The Competent Administrative Authority

ARTICLE 39
Entry or residence in the free zones shall be in accordance
with the terms and conditions set forth in the Executive
.Regulation of this law

ARTICLE 40
The provisions of Law No. 173 of 1958 requiring obtainment of
a work permit prior working with foreign bodies and Law No.
231 of 1996 concerning certain provisions regulating the work
of Egyptians with foreign organisms, shall not apply to
.Egyptians working in projects established in the free zones
 ARTICLE 41
No person may pursue on permanent basis, in a profession or
craft in the public free zone for his own account, except after
obtaining a license therefore from the chairman of its board
of directors in accordance with the terms and conditions
determined by the Executive Regulation of this Law, and after
payment of the fees determined by such Regulation provided
it shall not exceed L.E. 500 (Five Hundred Egyptian Pounds)
.per year

ARTICLE 42
Employment contracts concluded with employees in the free
zones shall be drawn up in four copies; one copy for each of
the parties, a copy to be deposited to the free zone
management, and another copy with the area labor office. If a
contract is drawn up in a foreign language, the latter two (2)
.copies shall be accompanied by a translation into Arabic

ARTICLE 43
Projects established in public free zones shall not be subject
to the provisions of Law No. 113 of 1958, and Article 24 and
.Chapter 5 of Part III of the Labor Code
The Board of Directors of the Competent Administrative
Authority shall establish the rules regulating the personnel
.affairs in these projects

ARTICLE 44
The provisions of the Social Security Law No.79 of 1975 shall
apply to Egyptians employed in projects exercising their
.activity in the free-zones
 ARTICLE 45
Any infringer of the provisions of Article 41 of this Law shall
be punished by a fine of not less than L.E. 2000 (Two
Thousand Egyptian Pounds) and shall not exceed L.E. 5000
.((Five Thousand Egyptian Pounds
Criminal suit related to such crimes shall not be filed, except
upon a written request from the Competent Administrative
Authority. The said Authority may effect conciliation with the
infringer in the course of proceedings in return for an amount
equivalent to the minimum required fine. Such conciliation shall
.result in the lapse of the criminal suit

ARTICLE 46
The provisions of Articles 8, 9,10,11 and 20 of this Law shall
.apply to investment in the free zones

CHAPTER FOUR
FACILITATION OF
INVESTMENT PROCEDURES
ARTICLE 47
The capital of companies that are governed by this Law may
be determined in any convertible currency, and their financial
statements prepared and published in same currency, provided
that subscription to its capital must be in that same currency,
and the entire amount of the issued capital shall be paid, and
shall be deposited at any one of the recognized banks in
.foreign currency accounts
The designated capital, in Egyptian pounds, of these companies
may also be transferred into any convertible currency,
according to the prevailing exchange rates at date of
 transfer, provided the controls specified by the Executive
.Regulations of this Law are adhered to

ARTICLE 48
The government shall submit to the Authority's Board of
Directors, the drafts of laws, regulations and decisions
.related to investment issues for consideration thereon

ARTICLE 49
Decisions regulating the establishment and operation of
projects may not be issued, and charges and fees may not be
imposed in return for services thereon or amendment thereof,
except after obtaining the opinion of the Authority's Board of
.Directors and approval of the Council of Ministers

ARTICLE 50
The Authority shall be the competent body to collect, provide
and update investment data and information and to regularly
disseminate same through various means of dissemination via
.its local branches, internet websites, and offices abroad
All State agencies shall adhere to providing the Authority
with such data and information, and any updates made in
respect thereof, and shall also provide the Authority with
charts related to the available investment programs, plans and
.potentialities
Each year, on July first, the Authority shall issue a guiding
bulletin of all projects, to which it invites all investors to
establish in light of the preliminary studies, which verify their
feasibility. The Authority shall take all measures to ensure
that such bulletins and studies are available to interested
 .investors
The Authority, moreover, shall issue quarterly bulletins
regarding investment flows, guarantees, incentives and
.services provided to investors

ARTICLE 51
All Government bodies, economic and service authorities
dealing with investors, determined by a decree from the Prime
Minister, shall establish offices at the Authority and at every
one of its branches and it is only these offices that shall
receive applications, conclude transactions, draw up contracts
and grant the necessary licenses for establishing projects and
.conducting activity
The Investment Services' Units affiliated to the Authority
and its branches, shall be equipped to receive investors, and to
provide them with all required services through offices set up
.at one specific location
Such offices shall maintain all data pertaining to each service,
including its type, cost, the required documents and
procedures, and time schedule for accomplishment thereof,
together with adherence to fully perform such services within
.the time determined
The Chairman of the Authority shall issue a decision
establishing work rules and procedures at such offices, and
determining the functions of the Authority branches to
achieve coordination between such branches and the Central
.Investment Services Unit
The branches of the Authority shall submit semi-annual
reports concerning their activities and issues that disrupt
their functions, and recommendations to rectifying
recommendations to the Chairman of the Authority and the
.Competent Governor
 ARTICLE 52
The Authority shall prepare standard forms for the
investment applications according to the nature of each
activity; and shall incorporate all data necessary for the
activity, and the required documents, in particular, the list of
the type of activity, project investment cost and requirements
thereof concerning services, energy sources, and all licenses,
approvals and documents required from various bodies to
.establish the project, conduct activity and liquidation thereof
An original of the document shall be sufficient to submit to
the Authority or its branch, as the case may be, and the
Authority or its branches shall assume responsibility to
provide the body requesting the document with a certified
.copy
The Authority, moreover, shall prepare a booklet comprising
the legislation regulating the investor's activities, and in light
of any amendments shall update and publish same on its
.internet website
The Authority and its branches, on behalf of the investor,
shall complete of all procedures, and furnish all competent
bodies with data and copies of the documents required from
.the investor

ARTICLE 53
The investors shall submit to the Authority or its branches, on
the forms approved by the Chairman, applications for
incorporation and registration of companies and
establishments, and obtainment of all licenses and approvals
from all the competent governmental bodies, as well as
applications for allocation of lands and extension of utilities
.thereto
 ARTICLE 54
The investor shall submit to the Authority or its branch an
application on the form prepared for such purpose
accompanied with the documents determined by the
Authority. Following immediate submission of his application
and at his own responsibility, the investor shall be given a
temporary license to establish the project, and the body that
received the application, shall be responsible for providing the
investor with the documents bearing the approvals and
.licenses of the competent bodies
The temporary license shall remain valid until a final license is
.issued
The rights of the investor may not be encroached on or his
activities stopped nor may the investor be prevented from
obtaining the necessary facilities and approvals by reason of
.delay in issuing the final license

ARTICLE 55
The Authority shall be in charge of issuing the final license
within a period not to exceed (15) days from date of issuance
of all licenses and approvals required by the competent bodies
its offices and branches, who are through its employees at
authorized to issue such licenses; on condition that the
documents stated in the application and stipulated in Article
54 of this Law are completed. If said period has lapsed,
without the issuance of the final license, the Chairman of the
Authority, within one (1) week, shall submit the matter to the
committee mentioned in Article 65 of this Law, to take the
proper decision within a maximum of fifteen (15) days, in
accordance with the rules and procedures specified in the
.Executive Regulation
 Companies, which are incorporated for the purpose of
integrated development shall be granted a single approval for
establishing and operating all of their projects, and each of
the company's projects shall enjoy the investment guarantees
and incentives established from date of start up of the
activity, which shall be determined in accordance with the
.provisions of this Law

ARTICLE 56
Bodies entrusted with granting licenses for establishment of
projects and conducting activities, in accordance to the
provisions of this Law, shall have the right to inspect the
licensed projects in compliance with its provisions, in order to
ensure adherence to the licensing conditions as well as the
provisions of the law that govern the conduct of their
activities and take the necessary procedures upon breach of
.such conditions and provisions as stipulated in the law
Inspection shall take place in accordance with programs duly
prepared and implemented in a manner that does not affect
the smooth operation of the projects
The inspection shall follow the rules, parameters and
.procedures set by the Executive Regulations of this Law

ARTICLE 57
In accordance with the rules drafted by its Board of
Directors, the Authority, pursuant to the rules set by its
Board of Directors, may issue licenses to foreign companies to
establish their representatives offices and branches in the
free zones. These offices and branches shall receive the same
status as projects licensed by the Authority to be established
.in such zones
 ARTICLE 58
The investor shall, pay in one installment all fees and other
payable amounts due to any bodies that provide investment
services. The Authority shall collect these fees for the
.account of such bodies
The Authority shall be entitled to a fee for the actual
services it renders to the investors. A resolution by the
Authority's Board of Directors shall define the rates, and the
rules and conditions and procedures regulating the collection
of such fees. The proceeds of such fees shall revert to the
.Authority's resources

ARTICLE 59
Contracting for the necessary utilities for implementation of
the projects, shall be made through the Authority's offices
and branches, authorized by the competent bodies to effect
.same
The Authority shall establish a data**** to comprise
information pertaining to the utilities and services necessary
for the projects or to be provided to investors. The data****
shall indicate the requirements for contracting for these
utilities or the costs and procedures and documents for
obtaining services. Such information shall be periodically
updated as required. The Authority shall take measures to
.ensure that such data is available to investors
Contracting shall be concluded pursuant to the published
rates, and the price list may not be applied to investors till
after publication. Maybe furthermore, no amendment ought to
be made to the conditions of the contract, or to the rates
throughout its validity of, unless the contract includes an
.express condition permitting such amendment
 ARTICLE 60
The Chairman of the Authority or his representative shall be
authorized to issue the necessary certificates to the
companies and establishments, which enjoy tax and customs
exemptions, and any other exemptions applicable to companies
subject to this law, in light of the Laws governing such
.exemptions
Such certificates shall be final and shall be effective without
.the need for any approvals from other bodies
All bodies shall act in accordance with said certificates and
.shall comply with the data mentioned therein

ARTICLE 61
Owners of industrial establishments, which are governed by
the provisions of this Law, shall import, without any customs
duties, the casts and moulds for temporary use in
.manufacturing products, and, thereafter reshipped abroad
Such customs release and reshipment abroad shall be
effected by virtue of the bill of lading; provided that
ingression and reshipment documents are registered on the
.register prepared for such purpose at the Authority

ARTICLE 62
The Council of Ministers upon a proposal by the Chairman of
the Authority shall decide additional incentives to the
internationally renowned companies, which aim to establish
their main domicile in Egypt to produce and cover the
neighboring markets as well as the companies working in one of
the fields of the developed high technology, and to the
international companies specialized in developing international
 .trade
The Council of Ministers upon a proposal by the Chairman of
the Authority, shall grant investors the facilities it deems
.appropriate to encourage them to invest and reside in Egypt
The Council of Ministers shall decide on the validity of the
incentives provided in this Investment Law to upgrade one of
the public sector companies, public business sector, or
.companies the ownership of which reverts to banks
The Council of Ministers shall conduct their functions
provided in the preceding paragraphs in accordance with the
.rules and procedures issued by a Presidential Decree

ARTICLE 63
The administrative bodies, in case the project is in breach of
any provision of the laws, regulations and decrees, shall notify
the investor together with a copy of such notice to
the Authority, to rectify the causes of the breach within a
period to be defined in the notice in light of the extent and
nature of such breach In case such period lapses without
rectification of the breach, the Authority shall issue a
.causative decision to terminate the activity of the project
The investor may file a grievance before one of the
committees to be formed at the Authority and branches
thereof, against the termination order within ten (10) days
from receipt of the termination notice, submission of the
grievance shall result in the suspension of the enforcement of
the decision except for enforcement as regards violation that
.threaten citizens' security
The committee, within seven (7) days from the grievance date,
shall issue a decision to enforce the decision subject of the
grievance or continue to temporarily suspend its enforcement
.until grievance is adjudicated
The Prime Minister shall issue a decree to form the
 committees and work procedures; provided that a counselor
from the State Council chairs such committees. The party
that submitted the grievance or that party's representative
shall participate in the committee The committee's decision
shall be valid and binding to all governmental bodies without
.prejudice to the right to resort to the Courts

ARTICLE 64
The investor shall notify the Authority of the starting date of
the activity at the new establishments, and expansion of the
existing ones. The Executive Regulation shall define the rules
.and requirements that govern the start of the activity
The Authority shall be, exclusively, competent for determining
the starting, suspension and termination dates for enjoyment
of incentives and privileges as well as the settlement of any
disputes among Ministries, their Authorities and Agencies
.concerning said dates or the starting date of the activity

ARTICLE 65
By way of exception to the provisions of Law No. 7 of 2000
concerning the conciliation committee of certain disputes, a
committee formed at the Authority shall manage the dispute
settlement efforts between the investor and any of the
administrative bodies. Said committee shall be chaired by a
member of the judiciary with at least the grade of counselor,
who shall be selected in accordance with the provisions of the
Judicial Authority Law. Members of such committees shall
include a representative of the union of the activity subject
of the investment and a representative of the Authority. The
committee shall pursue the settlement efforts as per the
investor's request, and shall issue their recommendations
concerning the dispute after inviting their parties to a hearing
 to listen to their statements. Should one of the parties
disagrees with the committee's recommendations; the dispute
shall be submitted to the ministerial committee provided in
.Article 66 of this Law
The Chairman of the Authority shall issue a resolution on the
.rules, procedures and of the conciliation committee

ARTICLE 66
The Prime Minister shall issue a decree to form a ministerial
committee to review the complaints and disputes brought and
submitted by the investor against the administrative bodies,
and the committee's decrees shall be valid and binding on the
administrative bodies; after such decrees are approved by the
Council of Ministers. The above shall be without prejudice
with the right to resort to Courts. The Executive Regulation
.shall define the work procedure of said committee

ARTICLE 67
The Authority shall have a Board of Trustees to include
representatives of investors, experts and bodies that provide
services to investors. This Board shall examine investment
issues and solutions thereto and shall render advice and
opinion to the Authority's Chairman and Board of Directors,
as to what it deems necessary to attract additional
.investments
A decree by the Prime Minister shall form the Board of
Trustees, define their authority, determine their work
procedures, and specify their required expertise and their
.remuneration
 ARTICLE 68
Every land, sea and airport shall have a Board of Sponsors,
which shall monitor the implementation of the development
program of the ports' administration and customs department,
. This board of sponsors shall examine problems related to
such ports and propose the necessary solutions, and means of
upgrading the services provided by such ports. The Competent
Minister shall issue a decree to form the Board of Sponsors,
which shall include a representative of the port's Authority,
experts in the field of land, maritime or air transport, as the
case may be, a representative of the General Authority for
Investment and Free Zones, representatives of the companies
.and establishments operating at the port

ARTICLE 69
The regulations governing public sector companies, public
business sector and their employees shall not apply to
companies established in accordance with the provisions of
this Law, irrespective of the nature of the capital contributed
or the capacity of the Shareholders contributing thereto

ARTICLE 70
Any provision contrary to the provisions of this chapter shall
hereby