With the steps… Learn about the opportunities and advantages offered by the Enterprise Development Authority when reconciling the conditions of your project and joining the formal economy

Fathi Al-Sayeh

The Medium, Small and Micro Enterprise Development Authority issued A guide for the owners of informal projects wishing to adjust their situation and join the work under the umbrella of the formal sector,

and this comes within the framework of Implementation of the directives of the President of the Republic to work on legitimizing and reconciling the conditions of projects operating in the informal sector and helping them to benefit from the advantages and facilities provided by the Projects Development Law No. 152 of 2020 to ensure their stability and increase their productivity in a safe legal and investment climate.
The guide issued by the agency includes 4 basic axes, where the first axis is based on the incentives and benefits that the project owner obtains once his status is reconciled, the most important of which is exemption from tax accounting For the previous years from the date of submitting the application, in addition to the exemption from keeping books and records, and exemption from stamp duty, documentation fees and month, and the second axis clarifies the The night of the simplified tax system enjoyed by the project owner and is determined according to the volume of the project’s business and is paid annually. As for the third axis, it refers to the financial and technical services provided by the Enterprise Development Authority to the owners of these projects, which includes specialized technical training programs for project owners, as well as soft financing for all types of industrial, commercial, service and professional projects.
The fourth axis explains the steps for obtaining a project license, which are as follows:

1- Heading to the project development authority branch in the governorate to which the project belongs

2- Registering data The basic requirements of the client and the project and submitting a request to reconcile the situation in the one-stop-shop unit

3- Bring proof of identity to the project owner and proof of possession of a headquarters The project

4- The client is assisted in obtaining the tax card and commercial register for the project

5- One-stop-shop units issue temporary licenses for a maximum of five years