Minister of Industry and Trade Tarek Kabil has issued a decision to regulate imports and stop the entry of low-quality imported goods to Egypt. The new controls include raising the minimum capital to enlist individual importers from EGP 10,000 to EGP 500,000. Moreover, the law for importers registry saw the introduction of a new condition on the minimum limit of doing business. The insurance deposit was lifted from EGP 3,000 to EGP 50,000 for individuals and EGP 200,000 for legal entities. The new decision gives import cardholders a period of six month to adjust the capital and insurance to remain on the importers registry.

Source: Daily News Egypt June 03, 2017 13:41 UTC