In the Context of Dynamic and Interconnected Global Financing, Egypt Shows Its Role in Attracting Foreign Investors

Egypt is striving to attract foreign investors by implementing modern and simplified regulations, making the investment process within the country easier. These regulations, defined by the CEO of the General Authority for Investment and Free Zones, aim to attract foreign investments by granting investors several benefits, including residence in Egypt. This approach facilitates the management of foreign investments, increases investment opportunities, and enhances Egypt’s position as a profitable destination for international capital.

These Developments Align with Egypt’s Broader Economic Vision

These measures reflect the country’s dedication to providing a suitable environment for promising investment opportunities, contributing to the achievement of strategic economic goals.

Requirements for Obtaining an Investment Residence Permit According to Investment Law No. 72 of 2017

Article No. (4) of the executive regulations issued by the Prime Minister’s Decision No. 2310 of 2017 for Investment Law No. 72 of 2017 outlines the conditions for granting residence permits to investors, which are:

  1. Being a founder, shareholder, partner in a company, or owner of an establishment.
  2. Residence Duration: Not less than one year and not exceeding the project’s duration.

Residence Duration

Article No. (5) of the executive regulations specifies that the residence duration at the beginning of the establishment should be one year, renewable for another similar period upon proving the seriousness of starting the project. It can then be renewed for additional periods, each not exceeding five years. In all cases, the residence duration should not exceed the project’s duration.

Criteria for Obtaining an Investment Residence Permit According to Investment Law

To obtain the approval of the investment residence permit from the General Authority for Investment and Free Zones, the project must meet the following requirements:

  1. Company Activity: The company must engage in activities listed in the executive regulations.
  2. Company Capital:
    • Joint Stock Company: Capital between 250,000 EGP and 1,000,000 EGP or its equivalent in foreign currencies.
    • Limited Liability Company: Capital between 50,000 EGP and 1,000,000 EGP or its equivalent in foreign currencies.
    • Sole Proprietorship: Capital between 50,000 EGP and 1,000,000 EGP.
  3. Number of Workers: The investment project may employ foreign workers up to 10% of the total workforce, with the possibility of increasing this ratio to 20% if qualified national workers are unavailable.

Documents Required for Obtaining an Investment Residence Permit in Egypt

  1. A request on the company’s letterhead addressed to the Head of the Investment Services Sector to grant a residence permit to an investor, stamped with the company’s seal and signed by the authorized signatory.
  2. A copy of the investor’s passport.
  3. A recent extract from the commercial register, issued within the last 3 months.
  4. For projects that have been established for a year without starting activities, they are referred to the inspection committee.
  5. A recent copy of the certified document showing the foreigner’s ownership of shares in the company.
  6. A copy of the possession document (in the case of rent, a lease contract notarized by the Real Estate Registry).

Other Ways to Obtain an Investment Residence Permit in Egypt

The Minister of Interior issued a decision granting foreigners temporary non-tourist residence in the following cases:

  1. Property Ownership:
    • Five-year renewable residence for owning property worth at least 200,000 USD.
    • Three-year renewable residence for owning property worth at least 100,000 USD.
    • One-year renewable residence for owning property worth at least 50,000 USD.
  2. Bank Deposit:
    • Three-year residence based on a bank deposit of 100,000 USD.
    • One-year residence based on a bank deposit of 50,000 USD.

Cases for Cancelling the Investment Residence Permit

Article (4) of the executive regulations specifies the cases in which the investment residence permit for a foreign investor can be canceled:

  1. If the investor exits the company.
  2. If the company is liquidated.
  3. If the company is removed from the commercial register.

The Egyptian government strives to facilitate the investment process by implementing new regulations that help foreigners invest in Egypt without any burdens, aligning with the broader economic vision of Egypt and reflecting the country’s dedication to providing a suitable environment for investment opportunities.

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