Unlocking Opportunities: Egypt’s Citizenship by Investment Program
An article written by Hany Mostafa Moawad IMCM, Founder & Managing Director of Prime Properties.
Egypt’s 2019 innovative law opens new doors for foreign citizens to acquire Egyptian citizenship through investment. This groundbreaking initiative aims to attract foreign investment and drive economic growth in Egypt. By investing in the country, you can become a citizen of Egypt and reap the benefits of its vibrant economy.
Ways to Attain Egyptian Citizenship by Investment:
- Real Estate Investment: Investors have the option to purchase one or more properties with a minimum investment of USD 300,000.
- Investment in Companies: Foreign investors can establish a new company in Egypt or invest in an existing one. This avenue requires an investment of USD 350,000, along with an additional non-refundable contribution (donation) of USD 100,000 to the government. There are no restrictions on the minimum or maximum stake an investor must hold in the company.
- Donation: To be eligible for this program, an investor must make a non-refundable donation to the Central Bank of Egypt treasury, with a minimum investment of USD 250,000.
- Bank Deposit: Those who prefer this route may apply using the Central Bank of Egypt deposit investment program. The program necessitates a bank deposit of USD 500,000, which is refundable after three years in the local Egyptian currency without accruing interest. The return on investment will be based on the currency exchange rate at the time of withdrawal.
What are the eligibility requirements for Egyptian Citizenship by Investment?
- The primary applicant must be at least 21 years old.
- Dependent children must be under 21 years of age.
- Personal documents for the spouse and dependents.
- A clean criminal record certificate.
- Spouses become eligible for citizenship after two years.
Here are the benefits of Obtaining Egyptian Citizenship by Investment:
- Access to Banks: The chance to open a bank account.
- Dual Citizenship: Individuals gaining Egyptian citizenship through this program can retain their original nationality, provided their home country allows it.
- Egyptian Passport: Eligibility for an Egyptian passport, which qualifies for an E2 visa to the United States, offering opportunities for investment in the U.S.
- Peaceful Environment: Egypt is renowned for its safety and security, making it an ideal destination for residents and citizens. The nation’s stability creates a secure environment for living, investing, and personal development.
- Excellent Business Opportunities: Egypt offers outstanding prospects for business and investment across various economic sectors, with high demand for products and services, making it a promising hub for success and capitalizing on economic growth and rising demand.
- Security: Enjoyment of stability and security in a country with a pleasant climate throughout the year.
- Easy Communications: Egypt is an Arab country where English communication is widely spoken.
- International Accessibility: The privilege of travelling to over 50 countries without requiring a visa or the option to obtain a visa upon arrival.
Steps to Apply for the Egyptian Citizenship by Investment Program:
It is advisable after contracting with a local agent, the main applicant initiates the process by transferring $10,000 to the Egyptian Central Bank account of the Egyptian Nationality Unit to secure a file number. Subsequently, the original documents are submitted, and the main applicant pays the total investment amount through their preferred method, either before or after obtaining preliminary approval.
If you are interested in applying for the Egyptian Citizenship by Investment Program, a local agent can assist you in getting started. They will guide you through the application process.
FAQs for Egypt Citizenship by Investment:
Q1. What is the estimated processing time to obtain certificates of citizenship and passports?
A. On average, the entire process typically takes between 6 to 9 months.
Q2. Can the transfer be made on behalf of the applicant from any account, or must it be from the applicant’s personal bank account
A. Both methods are accepted.
Q3. Is it possible to obtain citizenship before completing the payment of the applicant’s chosen program?
- The applicant can only acquire citizenship after they have completed their chosen investment program.
Egypt’s Citizenship by Investment Program offers an excellent opportunity for investors. With its straightforward application process, multiple benefits, and a secure environment, Egypt is ready to welcome those seeking dual citizenship and access to an exciting market. This program is more than an initiative; it’s a gateway to a freer, safer, and more prosperous future.