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GOEIC stimulate the real estate brokers (real estate marketer- broker or real estate agent) to register in the record of real estate brokers of GOEIC according to what the first and second articles stipulate at the executive legislation for law 120/1982 to organize the commercial agents’ works and some of commercial brokerage works. That GOEIC holds both of (commercial agents’ record /scientific, technical, advisory services office for companies and foreign establishment’s record and real estate broker’s record).
It was received at the article (16) from law which mentioned before, to be punished by imprisonment a period not less than six months and a penalty not less than five hundred pounds and not more than ten thousand pounds or both punishments on all who practice the commercial agents or real estate brokerage without being registered at the real estate brokers record of GOEIC.
Based on the constructive and mutual cooperation between GOEIC and the state devices, the Internal Trade Development Agency issued the instructions to all commercial record offices “prohibited to registry any origin of commercial record or tagging to which it has a (real estate brokers) activity. Only after, submitting evidence indicating his registration in the real estate brokers of GOEIC”.
The Egyptian Tax Authority issued its periodic book (2)/2020 concerning real estate brokerage financiers as” the organization warning all its units which are obligated to receive tax returns from the financiers who practice real estate brokerage ,check that there is evidence of their registration in the real estate brokerage record of GOEIC.