Egypt intends to issue residency permits for the foreigners, who invest at least 100,000 USD in the real estate sector. The property market enjoys a growth rate of 133%; there is a strong demand for residential construction projects.

Investment options of the Egyptian residency by investment programme

• The minimum amount of investment is 100,000 USD.
• An investment of 200,000 USD qualifies for a residence permit for three-years.
• The five-years residence permit is issued for those foreigners who invest half a million US dollars in Egyptian properties.

Even those real estates may qualify which are still under construction. According to the Arab News, the procedures of the residency by investment programme "are being set up in consultation with the Passport, Immigration and Nationality Administration". The first step to start the immigration process is to validate the contract between the investor and the property owner with the Urban Communities Authority, or the Tourism Development Authority or the governorate, which is responsible for the location. After submitting a copy of the bank transfer's confirmation, the passport office will approve the application. According to the official statements, the new residents will not have any political rights for five years, and they can vote only after ten years of residency. Interestingly, family members may obtain the residence permit, if they physically reside in Egypt. The investors' immigration scheme aims to repair the economy, which suffered a hard hit, Egypt even had to pay back a 12 billion USD loan package in 2016 to the International Monetary Fund. Interestingly, when the Egyptian parliament passed the new law regulating residency, there were no mentions at all about the real estate option. According to the news of Imidaily, a deposit of seven million Egyptian pounds (app 390,000 USD) was the minimum amount to qualify for the residence permit. It guarantees the right for five-years residence in the country. After the termination of the program, the resident can apply for the citizenship.

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