Egypt grants foreign investors one-year renewable residency

Egypt’s Interior Ministry announced Saturday that foreign investors applying to the General Investment Authority will be granted a one-year “non-tourism” residency, renewable for an additional six months or a year during the period of establishing companies and economic entities.

This comes to facilitate procedures related to establishing investment projects and attracting more foreign investments to the country, a statement for the ministry said.

Egyptian President Abdel Fattah al-Sisi in October ordered to grant the “Golden License” to all investors applying for it.