The General Authority for Freezones and Investment (GAFI) is currently studying the issuance of 40 new golden licenses, GAFI’s Head Hossam Heiba told Al on March 26th.

Heiba added that the authority has so far awarded 13 golden licenses to several projects.

The Golden License is a single approval for establishing, operating, and managing a project, and it is granted to companies by a decision of the cabinet, with the aim of encouraging local and foreign investors to accelerate the implementation process of different development projects.

Companies applying for the golden license shall be either joint-stock companies or limited liability companies as per the Investment Law No. 72 of 2017 or Law No.159 of 1981.

The issued capital of the applicant company shall not be less than 20% of the investment costs of the planned project.

Applicants shall also provide the necessary documents of the projects’ financial solvency as well as a pre-feasibility study conducted by a certified local or international consulting firm.


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