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تقييم الخدمة

Administrative write-off and insurance recovery in the register of real estate brokers

Service description

Refund of insurance in cases of administrative write-off in accordance with Law 120 /1982

When is the administrative write-off?

  1. It has been 90 days since the real estate brokers card expired without renewing its validity
  2. If it is not installed on the real estate brokers record card, any valid mediation contract
  3. If the commercial registry is erased due to the expiry of the natural or legal personality
  4. If the file at the Tax Authority has been permanently suspended, and this has resulted in the termination of the natural or legal personality
  5. If the change of the legal entity of the company leads to the expiration of the legal personality
  6. If the real estate brokerage activity is written off from the commercial register or tax card
  7. If the company's capital is less than the minimum required according to Law 120/1982
  8. If a decision or judgment is issued to cancel the registration of the establishment or company in the real estate brokers registry for committing one of the violations mentioned in Law 120/1982 and its executive regulations
  9. If there is any change in the status of one of their names in the commercial registry, the establishment or the company, any of the conditions of registration will be lost according to Law 120/1982

Place of service

  1. Maarouf - Sixth of October - Tenth of Ramadan - Alexandria - Port Said - Damietta - Suez - Sharkia - Menoufia – Ismailia-Arish-Tanta Investor Services Complex in the Investment Authorit
  2. Chambers of Commerce (Alexandria - Kafr El Sheikh - Tanta - Damanhour - Sohag - Arish)

Insurance refund conditions and required documents

  • The insurance recovery procedures shall not be proceeded until after the final write-off decision is issued

Documents required recovering insurance upon administrative write-off

  1. The origin of the insurance refund request form signed by the person concerned or who has the right to administer and sign in front of the competent employee, or the authenticity of a signature from the bank
    Or signed by his legal representative if it is expressly provided for by the power of attorney
  2. A copy of the national ID card or passport of the applicant and the original for viewing
  3. Bring all copies of valid real estate brokers record cards issued to the facility / company
    Or a police report for their loss or the loss of any of them
  4. In the event of a specific tax, bring proof of its payment to the Tax Authority
    If the delisting applicant is an agent
  5. A copy of a notarized power of attorney from the real estate registry and the original for review, explicitly explaining the required service (even a second agent is accepted only)
  6. Acknowledgment of the validity of the power of attorney signed by the agent (if the applicant is an agent of the facility or company)
  7. A letter from the bank with the account number to which the insurance will be transferred
    • The account is in a bank approved by the electronic payment system of the Ministry of Finance
    • And in the name of the same trade name and trade mark issued in its name, the insurance is in the file
  8. In the event of the death of the person concerned in the individual properties
    In addition to the documents from 3 to 7, the following will be completed
    • A request to recover the insurance signed by all the heirs with the authenticity of a signature from the bank or the signature of the heirs in front of the competent employee
    • Original death certificate
    • genetics information
    • Declaration of Wills (for minors from the court)
    • A copy of the identity document for the heirs
    • A letter from the bank with the account number. Each heir will be transferred to the insurance, provided that he is a bank approved by the electronic payment system of the Ministry of Finance
  9. in the event of a company liquidation:
    In addition to the documents from 3 to 7, the following will be fulfilled-
    • Request for a visa to erase the commercial register or trade register in liquidation
    • The liquidation contract or the minutes of the general assembly meeting in the liquidation
    • Request to recover the insurance in the name of the liquidator signed by the competent employee, or with a valid signature from the bank
    • A copy of the identity card for the liquidator and the original for viewing
      • Noting that the liquidator signs the request to recover the insurance and the power of attorney instead of the person concerned for the duration of the liquidation period
    • A letter from the bank with the number of the liquidation account to which the insurance will be transferred, provided that it is a bank approved by the electronic payment system of the Ministry of Finance
  10. In the event of the company's dissolution
    In addition to the documents from 1 to 7, the following must be fulfilled
    • Request for a visa to erase the commercial register
    • Minutes of the non-general meeting or the termination contract
    • A letter from the bank with the account number. Each partner will have the insurance transferred to him, provided that he is a bank approved by the electronic payment system of the Ministry of Finance

Procedures which taken in insurance recovery

  1. Reserving an appointment through the GOEIC’s website (in case the application is submitted in MAROUF or October, or the Investor Services Complex at the Investment Authority)
  2. Submit the required documents
  3. file review
  4. Registering an insurance refund request
  5. Sending a request for refunding the insurance and attachments to the financial affairs
  6. financial audit
  7. Completing the financial cycle to recover the insurance
  8. Transferring money to the customer's account

Important Notes

  1. To obtain application forms and declarations from the GOEIC's website
  2. To find out the steps for booking an appointment through the GOEIC’s website, please enter the following link
  3. It takes into account the placement of the stamp with 1 pound and the stamp of resource development on the power of attorney
  4. Only a second agent is accepted and does not accept delegation dealings in the Real Estate Brokers Register
  5. If the person concerned or who has the right to manage and sign outside the country and delegate his legal representative to submit an application for obtaining the service at the authority, the power of attorney issued by a foreign authority must be certified by the Egyptian embassy or consulate abroad and deposited in the real estate registry in Egypt
  6. You can call the call center 19591 or visit the customer Service Office at the airport
    • To inquire about the issuance of the cancellation decision
    • Ensure that the account number to which the insurance will be transferred is approved by the electronic payment system of the Ministry of Finance
  7. To obtain a certificate stating that the facility or company has been written off, you can request a data certificate with a MAROUF
  8. The establishment/company may not be re-registered except after the cancellation decision has been issued and registered on the system
  9. If the Authority has not been notified of any amendment to the contract data within 30 days from the date of documenting the amendment contract, the following measures shall be taken in accordance with Article 21 of Law 120/1982
    • Forfeits the right of the establishment to insurance
    • The Authority shall notify the establishment of the forfeiture of its right to insurance by registered letter with acknowledgment of receipt at its last address of which the Authority was notified
    • The facility shall pay double insurance within thirty days from the date of its notification of the forfeiture of its right to insurance
    • In the event of a repetition of the violation, the registration shall be canceled by a decision of the Minister of Economy and the right to recover the double insurance shall be forfeited, and the agent shall have the right to recover the double insurance if he does not repeat the violation.
  10. For violations in which the agent’s occurrence results in the issuance of a judgment or decision canceling the registration and forfeiting the right to recover the insurance
  11. According to Articles 16-17-18 or Articles 21-22 of Law 120/1982
  12. Re-registration of the interrupted broker by a decision of the competent minister in accordance with Articles 21/22 of the law after five years have passed from the date of cancellation
Publish Date 27/03/2022 01:20 PM
Last Update 27/04/2022 10:35 AM
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