Why Invest?
Egypt's strategic location offers direct access to markets in Europe, the Middle East, Asia and Africa. Egypt's strategy is to reach free trade agreements with all countries in the region. Several mutual trade protocols have already been replaced with such agreements. Egypt offers a vast range of investment opportunities.
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Market Report
Our forecast is that Egypt’s new property market is rising and about to witness strong price gains, it is a market with all the right things for long term success and therefore property in Egypt in 2007 makes an remarkably interesting investment choice.
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Economic Overview
Egypt's economy depends mainly on agriculture, media, petroleum exports, and tourism; there are also more than five million Egyptians working abroad, mainly in Saudi Arabia, the Persian Gulf and Europe. The United States as well has a large population of Egyptian immigrants.
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Visa/Residency Issues
Passport and visa required. Visas may be obtained upon entry from the Entry Visa Department at the Travel Documents, Immigration and Nationality Administration or most major ports of entry. Entry visa is required for any foreigner arriving in Egypt for purposes other than tourism (e.g. work, study). Tourist visas (single-/multiple-entry) are valid for 90 days. HIV test required for study and work permits. Students are exempt from visa fees.
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Getting to Egypt
An approximate flight time to Cairo from London is 5.5 hours. All airlines fly into Cairo International airport (code - CAI), which is situated in the Heliopolis area of the city, 22km from the centre.
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Fees & Taxes
- Property registration and legal fees for conveyance total around 6%.
- Stamp Duty on property is payable by the buyer at 3%. The buyer will also pay a small inspection and measurement fee (approx. 65 euros).
- Tax on any form of income from property runs at 20 to 22% and is basically the alternative to Value Added Tax.
- Egypt levies no inheritance or capital gains taxes.
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Egypt
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Basic Information
| Population |
70.5 million |
| Languages |
Arabic (official), English and French widely understood |
| Area |
997,739 Sq. Km |
| Currency |
1 Egyptian Pound = 100 piasters |
| Dialing Code |
+20 |
| Emergency Services |
0 |
Egypt Overview
Egypt officially the Arab Republic of Egypt, is a country in North Africa that includes the Sinai Peninsula, a land bridge to Asia. Egypt borders Libya to the west, Sudan to the south, and Israel and the Gaza Strip to the northeast; on the north and the east are the Mediterranean Sea and the Red Sea, respectively. Around half of Egypt's residents live in urban areas, with the majority spread across the densely populated centres of greater Cairo (the largest city in Africa and the Middle East), Alexandria and other major towns in the Nile Delta. Egypt is famous for its ancient civilization and some of the world's most ancient and important monuments, including the Giza Pyramids and the Great Sphinx of Giza; the southern city of Luxor contains a particularly large number of ancient artifacts such as the Karnak Temple and the Valley of the Kings. Today, Egypt is widely regarded as a main political and cultural centre of the Middle East.
Average Property PricesComing soon.
Buying Process
- Once you decide on a property, you will need to pay a holding deposit to take the property off the market while contracts are drawn up.
- It is completely usual to negotiate a property’s selling price in Egypt, unless you are buying off-plan when the price is fixed.
- Local lawyers will also help you through the best way to conduct business with the local people who have their own particular idiosyncrasies and customs which are important to be aware of.
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