Egypt offers an attractive golden visa program, granting long term residence for foreigners investing in property market to revitalize the real estate sector and attract foreign direct investment.
As per the Golden visa rules, the property ownership must be approved by an authorized body, such the Urban Communities Authority, the Tourism Development Authority or the governorate in which the property is located.
The residence permit is issued by Passport, Immigration and Nationality Administration.
The minimum required investments for Golden visa residency are
- USD 100,000 – 1 year residence permit
- USD 300,000 – 3 year residence permit
- USD 400,000 – 5 year residence permit
The Golden visa residency will not grant any political or voting rights to foreigners.
Egypt also has an immediate citizenship by investment program for property investors, who can afford above $500,000.
Egypt is one of the most attractive countries to invest in African continent. Egypt is the Wealthiest African nations in terms of GDP (PPP). The Egyptian economy recorded an impressive +3.6% real GDP growth largely Covid pandemic without negative dip, according to IMF figures of 2021. It is projected to grow 5.5% by 2022.
According to IMF, the global economy is projected to grow 5.5 percent in 2021 and 4.2 percent in 2022. The recent vaccine approvals have raised hopes of a turnaround in the pandemic later this year, renewed waves and new variants of the virus pose concerns for the outlook.
Egypts real estate market is poised to grow big in 2021 with steep rise in prices and construction activities.
The General Department of Passports, Immigration and Nationality is one of the agencies of the Ministry of the Interior that serves its citizens and foreigners.