Features | CIP

  • Real Estate Agent: Granting Residency to Foreigners
    The Real Deal: Residential

    Real Estate Agent: Granting Residency to Foreigners

    Wednesday, 24 October 2018

    In an attempt to enrich the market, Egypt’s cabinet ratified last July the state’s residency-for-property law, allowing foreigners to acquire a five-year residency in Egypt in return for owning properties worth nearly USD 400,000.

    The executive regulations for the residency law are underway fine-tuning and will be issued within a month or so. In this regard, Invest-Gate delves into the newly amended law to evaluate its potential in rendering the Egyptian economy as well as reviving the real estate industry.