Can I buy a house in Egypt?

Foreigners can buy property in Egypt, under Law No 230 of 1996. Foreigners cannot buy more than two pieces of real-estate, which cannot exceed 4,000 square meters (sq. m.), and their purpose must be for a family member to live in the property.

Can foreigners buy house in Egypt?

Egyptian law does not permit a foreigner to own non-residential property in person. A foreigner can own and purchase non-residential property through incorporating a company to carry on a business, administrative or industrial activity in Egypt.

What is the average cost of a house in Egypt?

In new areas of Al-Rhab, Medinat October and Medinat Sheikh Zayed, the average price of apartments was about EGP 5,000 (US$882) per sq. m. In Maadi, house prices range from EGP 2,721 (US$480) per sq. m to EGP 7,027 (US$1,239) per sq.

Is Egypt cheap to live?

Unlike many countries where you spend almost one quarter of your monthly income on bills, Egypt is far affordable. If you want to live in a well furnished studio of about 480 ft², one would only need to spend about EGP 3,867 ($217) in an expensive area on average and EGP 1,651 ($92) in a regular area.

Is it safe to buy real estate in Egypt?

The Full Registration process in Egypt

It provides an excellent method of protection, especially when purchasing a resale property, which has been owned by multiple buyers. Although its restrictive nature does makes it impractical for foreign buyers to pursue when buying property for investment purposes.

Overview on Buying Real Estate in Egypt

Is Egypt a good investment?

Making investments in Egypt is a very good idea and it's increasingly the new go-to investment location of the future. From its location to its resources and future growth expectations, Egypt has a ton of investment potential.

Is it worth investing in Egypt?

Buying property in Egypt offers excellent investment opportunities. With due diligence, adequate research and taking on professional advice, real estate investment in Egypt can be very rewarding.

Is Egypt a good place to retire?

Stay for the low cost of living in retirement. A recent analysis by personal finance site GOBankingRates found that Egypt is the destination for retirees who want to stretch their Social Security benefits, thanks to affordable food and housing expenses.

Can I move to Egypt?

Residency. Whilst a work permit entitles you to live and work in Egypt, it can be difficult to obtain. A better option for expats is usually to apply for a temporary residence permit. This enables individuals to reside in the country for one, three or five years at a time, and is relatively simple to acquire.

What is a good salary in Egypt?

A person working in Egypt typically earns around 9,200 EGP per month. Salaries range from 2,330 EGP (lowest average) to 41,100 EGP (highest average, actual maximum salary is higher). This is the average monthly salary including housing, transport, and other benefits.

Is living in Egypt expensive?

Family of four estimated monthly costs are 1,313$ (24,663EG£) without rent. A single person estimated monthly costs are 366$ (6,878EG£) without rent. Cost of living in Egypt is, on average, 62.38% lower than in United States. Rent in Egypt is, on average, 88.33% lower than in United States.

Where is the best place to live in Egypt?

How much is the Egyptian citizenship?

Cost of Obtaining the Egyptian Citizenship by Investment

Real estate investment: $500,000 US dollars. Investment projects: $400,000 US dollars, and the foreign investor's share must be at least 40% in one of the investment projects. Bank deposit: $750,000 to be returned to the investor after 5 years in Egyptian pounds.

How long can I live in Egypt?

If expats will be in Egypt for longer than 90 days, they will need a residence visa. This permit is also needed to work or study in the country. Once obtained, residence visas are renewable and issued with a validity of up to five years.

Is it easy to get residency in Egypt?

Obtaining residency in Egypt sounds a little harder than the other countries, but it isn't. The great thing that Egypt has that other countries don't is an easy and clear path to citizenship if you have already been granted a residency.

Can foreigner buy car in Egypt?

To own a car in Egypt one must be Egyptian or have a resident visa. One will also therefore need an Egyptian driving license. Failing that, as many foreigners do, they get an Egyptian to have the car registered in their name but must have also a paper from that person allowing them to drive the car.

Why you shouldn't live in Egypt?

Egypt has some very, very poor areas, including slums. The slums are dangerous and you should not visit unless you know what you're doing, e.g. it's your job to go there. There are poor everywhere, and depending on the location they'll either ask you for one EGP (about $0.05) or a “euro” if you're in a touristy area.

Can a foreigner live in Egypt?

Foreigners can rent or buy apartments in personal ownership. It depends on how long you want to live here, where you want to live and what comfort you require. A simple apartment in the city centre will be different in price from an apartment in a compound with a private pool or private beach.

How many foreigners live in Egypt?

In 2020, Egypt hosted approximately 544 thousand international migrants. The vast majority were from the State of Palestine, and Syria, amounting to roughly 136 thousand and 126 thousand, respectively. Together, the two countries constituted over 48 percent of the total international migrants living in Egypt.

Do expats pay tax in Egypt?

Expats are liable for income tax in Egypt depending on their residency status. While non-residents don't need to file taxes, the income they receive in Egypt is still taxed progressively based on gross income.

What are the pros and cons of living in Egypt?

Where should I invest my money in Egypt?

The easiest way to invest in Egypt is with exchange traded funds (ETFs) such as VanEck Vectors Egypt Index ETF (NYSE: EGPT). Investing in Egypt includes significant risks, such as political instability in the region and a lack of diversity in the economy.

Can you buy stocks in Egypt?

Since MCDR was established in October 1996, the securities market in Egypt moved toward a completely dematerialized environment, in which physical stocks are no longer existent.

How is the Egyptian economy doing?

CAIRO, April 21 (Reuters) - Egypt's economy will grow 5.3% in the fiscal year ending in June but the pace will ease to 5.2% in 2022/23 and 5.0% in 2023/24 as tourism falls and commodity prices and interest rates rise, a Reuters poll showed on Thursday.