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10 facts about the one year residency for investors

The government recently announced that foreign investors will be able to obtain one-year residencies in Egypt when establishing companies.
© Egypt Business Directory


1. The Egyptian Ministry of Interior announced the offering of one-year residencies to foreign investors who establish companies or economic entities in Egypt.

2. The decision specifically applies to foreign investors registered at the General Authority of Investment and Free Zones (GAFI).

3. The offered residencies are renewable for six months or one year.

4. Egypt's Supreme Council for Investment recently approved 22 decisions to attract local and foreign direct investment.

5. These decisions aim to reduce the cost and simplify the approval procedures for establishing companies, as well as expand the issuance of Golden Licences, all to boost investments and the economy.

6. The Egyptian business community expressed support for these new decisions and called for their immediate implementation in order to speed up investments.

7. Some experts and investors are also advocating for additional legislative reforms in addition to the recent decisions.

8. Prime Minister Mostafa Madbouly had also announced that foreigners will be allowed to own property in Egypt with certain rules, although no limits will be imposed.

9. The new measures are part of several efforts of Egypt to attract and encourage investment in the country.

10. These initiatives demonstrate the Egyptian government's commitment to creating a favorable environment for foreign investors and boosting economic growth.