On September 14, 2023, the Council of Ministers of Egypt approved a draft decision introducing changes to the Law on Granting Egyptian Citizenship to foreigners. Including a clause that removes restrictions on selecting real estate for citizenship applications. Now you can choose projects from any developer, with one exception – the location should not be on Sinai Peninsula. Thus, buying any real estate in the El Gouna will allow you to apply for Egyptian citizenship by investments.
What are the options for Egyptian CIP?
One of the newest programs on the market, Egyptian Citizenship by Investment, offers many options to choose from. Including the purchase of real estate in the amount of $300,000 (USD). Real estate can be purchased as full ownership or as a share. Thus, when buying a townhouse for $900,000, you can submit several applications for Egyptian citizenship at once. For example, an investor and a spouse with a child, as well as his parents and her parents. Please note that the main applicant must be male to be able to add a spouse to the application.
How to apply?
As a first step for obtaining Egyptian Citizenship by investment, you need to pay a fixed government fee of $10,000 (USD). Already in the process, you can decide which investment option to choose. The starting fee does not depend on the number of family members in the application. At the moment, applications for citizenship are accepted from candidates from all countries without restrictions.
What does premium real estate in Egypt look like now?
At the moment, the demand for real estate in the Egyptian domestic market exceeds supply. Nevertheless, we took a deep dive into the local market and offer you a unique investment option. A luxury project on the Red Sea coast from a well-known developer.
