Egypt Changes Regulations Allowing Foreigners to Own Residential Real Estate ...Egypt

Photo credit: Enterprise News The Egyptian Cabinet approved a legislative amendment aiming to ease regulations for foreigners to own residential properties in Egypt, on Wednesday, 5 July. In May, Prime Minister Mostafa Madbouly announced that foreigners would be allowed to own property in Egypt with no limits, but according to certain rules. Non-Egyptians wishing to own residential property in Egypt are to pay the price in foreign currency via transfering money to banks wholly owned by the state, but are no longer limited to two residential properties that must be in different cities, and at a maximum of 4000 square meters per property—stipulations the amended clause removed. This decision f

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Last updated : 06 July 2023 clock 02:05 PM

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Egypt Changes Regulations Allowing Foreigners to Own Residential Real Estate ...Egypt

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