How to open a business bank account in Egypt

Snapshot

To open a business bank account in Egypt, the company must first be registered through the General Authority for Investment and Free Zones and hold a Commercial Register certificate and a Tax Card from the Egyptian Tax Authority. The bank then asks for the articles of association, identification for the legal representative and signatories, and a board authorisation. As of 21 February 2026 setup commonly takes about two to four weeks because of Central Bank of Egypt Know Your Customer and Anti Money Laundering checks, and non resident owners usually need a local representative with a Power of Attorney.

First step: Register the company through GAFI and obtain the Commercial Register certificate and a Tax Card.
Typical timeline: About two to four weeks for account setup after registration. Verify with the bank, as of 21 February 2026.
Foreign owners: Allowed, but banks typically require a local representative or resident manager with a Power of Attorney.
Most providers: Domestic banks such as Banque Misr, the National Bank of Egypt, and Commercial International Bank

Requirements as of 21 February 2026Last reviewed 21 February 2026

General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.

Opening a business bank account in Egypt follows a clear order. First register the company through the General Authority for Investment and Free Zones, then obtain the Commercial Register certificate and a Tax Card from the Egyptian Tax Authority. With those in place, approach a domestic bank such as Banque Misr, the National Bank of Egypt, or Commercial International Bank with the articles of association, a board authorisation naming the signatories, and identification for owners and signatories. As of 21 February 2026 setup commonly takes about two to four weeks because of Central Bank of Egypt checks, and non resident owners generally need a local representative with a Power of Attorney. Confirm the exact requirements with the bank.

Steps to open a business account in Egypt

The process runs in two stages, company setup and then the account. Get the company, commercial registration, and tax registration right first, because banks will not open an account without them. As of 21 February 2026 the steps below reflect the common path, though each bank sets its own document list and review.

Incorporate the company through the General Authority for Investment and Free Zones, known as GAFI, and obtain the Commercial Register certificate.
Register with the Egyptian Tax Authority to obtain a Tax Card and a tax identification number so the company can invoice and pay taxes.
Prepare the account documents, including the articles of association, a board or shareholder authorisation naming the signatories, and identification for owners and signatories.
Apply at the bank, complete its Know Your Customer review, and activate the account, commonly within about two to four weeks.

Documents banks ask for

Banks in Egypt typically request a consistent core set, as of 21 February 2026. Verify with the provider

The Commercial Register certificate and the articles of association, plus any amendments.
The Tax Card and tax identification number from the Egyptian Tax Authority.
A board or shareholder resolution authorising the account and naming the signatories, with a Power of Attorney where a representative acts for the company.
Passport copies and national identification for shareholders and signatories, and details that let the bank trace the Ultimate Beneficial Owner.

Foreign owners and the timeline

Foreign shareholders can own an Egyptian company and open a business account, but banks typically require a local representative or resident manager with a Power of Attorney to act for the company. Plan for that role early. As of 21 February 2026 the account stage is often the most time consuming part of market entry because the Central Bank of Egypt requires banks to verify the Ultimate Beneficial Owner and run Anti Money Laundering checks, so well prepared documents and a clear ownership structure shorten the review. Confirm both the ownership requirements and the timeline with the bank.

We do not list a business account that is confirmed available to companies registered in Egypt as of 21 February 2026. Egyptian banks such as Banque Misr, the National Bank of Egypt, and Commercial International Bank set their own onboarding requirements under Central Bank of Egypt rules, and most international account providers do not offer a full local corporate account to Egypt registered companies. Payoneer is available in Egypt for receiving cross border payments and withdrawing to a local bank, but it is not a replacement for a domestic business account. See the related guides below, and verify any option directly with the provider. More country detail is on the Egypt country guide.

Questions about opening a business account in Egypt

What do I need to open a business bank account in Egypt?

You generally need the company registered through GAFI, a Commercial Register certificate, a Tax Card from the Egyptian Tax Authority, the articles of association, a board authorisation naming the signatories, and identification for owners and signatories. As of 21 February 2026 confirm the exact list with the bank.

How long does it take to open a business account in Egypt?

Account setup commonly takes about two to four weeks because of Central Bank of Egypt Know Your Customer and Anti Money Laundering checks, after the company is registered and has a Tax Card. As of 21 February 2026 timelines vary by bank and by how complete the documents are. Confirm with the bank.

Can a foreigner open a business account in Egypt?

Foreign shareholders can hold an Egyptian company and open a business account, but banks typically require a local representative or resident manager with a Power of Attorney to act for the company. As of 21 February 2026 confirm the bank's specific requirements for foreign ownership and signatories.

What is GAFI in Egypt?

GAFI, the General Authority for Investment and Free Zones, is the government body that handles company incorporation and investment registration in Egypt. A company is set up through GAFI before it obtains its Tax Card and opens a corporate bank account. As of 21 February 2026 verify current registration steps with GAFI or a local adviser.

Requirements, fees, and eligibility change and vary by region. This page was last reviewed on 21 February 2026. Confirm current terms with the provider before applying.