Egypt Introduces Three-Year Limit on Representative Offices and Relaxes Manager Requirements for Limited Liability Companies

On 31 January 2019, Egypt's General Authority for Investment & Free Zones (GAFI) reportedly issued Decree No. 60 of 2019, which provides that with effect from that date, non-resident companies with a representative office in Egypt must decide to either establish a company or a branch within three years from the date the representative office was registered. The requirement does not apply in respect of representative offices of banks, however, provided that registration has been made with …