How to Buy Property in Egypt
Under Law No 230 of 1996 non nationals can purchase property in Egypt but it is not without some issues which are outlined as follows:
Non nationals may not purchase more than two pieces of real-estate of which must not exceed 4,000 square meters (sq. m.) and a property is to be used for a family member as well as the purchase being approved which takes aabout two months.
Registering property in Egypt
If purchased and registered the property cannot be sold or rented for five years. The fees associated with the purchase should pass through an Egyptian Commercial Bank. Any property must be rented furnished after the 5 years period. For Egyptian Nationals or dual nations - example USA and Egyptian Citizenship the buying process is the same as if the buyer were just an Egyptian National. This also applies to marriages where one party is an Egyptian National - Registration is straightfoward if registering under the Egyptian Nationals name.
For more details on how to purchase a property in Egypt with confidence contact an IPD Consultant.
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