In the dynamic and interconnected world of global finance, Egypt emerges as a beacon of innovation and growth, unveiling its revised Residency by Investment (RBI) program. This promising initiative, aimed at attracting foreign investors, significantly reshapes the investment opportunities landscape and solidifies Egypt's position as a lucrative destination for international capital.
The RBI program offers distinct pathways—Real Estate Investment and Bank Deposits—for investors seeking temporary residency. These strategic advancements align with Egypt's broader economic vision and reflect the country's dedication towards fostering a business-friendly environment.
In the following sections, we delve into the specifics of these pathways, offering insights and analysis to help investors navigate this promising terrain.
This overview, backed by our firm's extensive legal expertise and deep understanding of the Egyptian regulatory landscape, aims to serve as a comprehensive guide to the newly revised RBI program in Egypt.
Real Estate Investment:
Investors have three options in this pathway, each offering a unique duration of residency:
- Five-Year Renewable Residency: A minimum investment of $200,000 in one or more properties in Egypt grants eligibility for a five-year renewable residency.
- Three-Year Renewable Residency: Property ownership in Egypt, with a cumulative value of at least $100,000, ensures qualification for a three-year renewable residency.
- One-Year Renewable Residency: A minimum investment of $50,000 in one or more properties in Egypt qualifies an investor for a one-year renewable residency.
In addition to the real estate pathway, the Residency by Investment (RBI) program provides residency options via bank deposits:
- Three-Year Residency: Making a bank deposit of $100,000 or its equivalent in other foreign currencies in an Egyptian bank leads to eligibility for a three-year residency.
- One-Year Residency: A bank deposit of $50,000 or its equivalent in other foreign currencies qualifies for a one-year residency.
Whether clients opt for the real estate investment or the bank deposit route, our firm offers the required expertise to handle each aspect of the process proficiently. Our services include adept navigation of the associated legal procedures, precise guidance through the RBI program application process, and efficient management of the residency renewal process.
Our in-depth understanding of the Egyptian legal system, coupled with extensive experience, sets us apart from other firms.
It is important to note that the conditions for these options are anchored in a set of Egyptian laws, namely Law No. 9 of 1960, Law No. 230 of 1996, Law No. 14 of 2012, Law No. 72 of 2017, and Law No. 194 of 2020. These regulations govern the entry and residency of foreigners in Egypt, non-Egyptian property ownership, development in the Sinai Peninsula, the Investment Law, and the Central Bank and Banking System Law, respectively. Our comprehensive services ensure guidance in complete compliance with these regulations.
We look forward to the formal introduction of these amendments to Egypt's Residency by Investment laws. These changes are expected to be in full effect by December of 2023, promising potential investors a myriad of opportunities in the vibrant and evolving Egyptian landscape.