Interior Ministry amends conditions for foreign nationals...

[DJKeefy]

Interior Ministry amends conditions for foreign nationals residing in Egypt

The Official Gazette in Egypt published on Tuesday a decision by Interior Minister Major General Magdi Abdel Ghaffar to amend ministerial decision No. 8180 for the year 1996 on the regulation of foreigners' residence in Egypt.

The new amendment allows foreigners to be granted a temporary, non-tourist residency for a period of 5 years, which can be renewed for those who own one or more properties in Egypt worth not less than $400,000 (around LE7.2 million).

The amendments, through the new decision No. 828 for the year 2017, stipulate that foreigners may be granted temporary residency for non-tourism for a period of 3 years, which can be renewed for those who own one or more properties in Egypt worth not less than $200,000 (LE3.6 million).

Earlier, the government said in a statement that it had agreed to a proposal to amend the rules of granting residence in Egypt for non-tourism to foreigners who buy housing units, to be implemented gradually, in order to cope with the current rise in the value of real estate and the increase in property prices.

"The value [of the real estate property] required has been increased from $50,000 to $100,000 in the case of a one-year residence permit; and will be raised to $400,000 in the case of a five-year residence permit," the government statement said.

Source: http://www.egyptindependent.com//news/i ... ding-egypt

[Major Thom]

Who will value the properties, there are no properties valued at that in Luxor at all. The other factor is would anyone pay them prices for living in a place like Luxor. Even in the UK outside London there are very few properties for sale at $400,000. Where do these people get these ideas from?

[Goddess]

You know when you buy your property......and they write the contract.....and they write the price on it?!



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[Dusak]

You know when you buy your property......and they write the contract.....and they write the price on it?!



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Quite correct, and before you sign it you should read it at least three times, then, with luck, you would notice, like we didn't, that the price was 100,000Le instead of £100,000.