Egypt Citizenship by Investment Program
Published at: 18/05/2023 09:36 am
Egypt offers its valuable passports and citizenship in exchange for at least 250,000 USD, among other options.
How much is the investment amount for Egyptian citizenship?
According to Alarabyia, the Egypt Citizenship by Investment Program offers four options for the applicants:
- Real estate purchase for at least 300,000 USD
- Investment for at least 350,000 USD
- Deposit of 500,000 USD in a local bank, or
- "make a non-refundable 250,000 USD deposit in direct revenues in foreign currency into the state's public treasury", which means donation.
Egypt desperately needs foreign investment and currency. The Middle Eastern or North African country launched its first passport scheme in 2018 when the requirement in exchange for naturalisation was a deposit of seven million Egyptian pounds (roughly 400,000 USD).
What are the advantages of Egyptian citizenship?
1, Visa-Free or Visa-on-Arrival Travel: Egyptian passport holders enjoy visa-free or visa-on-arrival access to 64 countries and territories. This means they can travel to these destinations without needing to obtain a visa in advance, simplifying travel arrangements and saving time and money.
2, Regional Mobility: Egypt is a member of the Arab League, facilitating more accessible travel and residency within member countries. Egyptian passport holders can benefit from streamlined processes and fewer restrictions when travelling or working in Arab League countries.
3, Cultural and Historical Heritage: Egypt has a rich cultural and historical heritage, including iconic landmarks such as the Great Pyramids, the Sphinx, and numerous ancient temples. Egyptian passport holders can take pride in their country's historical significance and may receive special recognition and respect in specific international contexts.
4, Membership in International Organizations: As Egyptian passport holders, individuals can participate in various international organisations and forums. This can include attending conferences, engaging in cultural exchanges, or representing Egypt's interests on the global stage.
5, Potential Economic Opportunities: Egypt has a strategic location at the crossroads of Africa, Asia, and Europe. This location opens up trade, business, and investment opportunities, which can benefit Egyptian passport holders seeking international economic engagement.
6, Diplomatic Support: In case of emergencies or difficulties abroad, Egyptian citizens can seek assistance from the Egyptian embassies and consulates worldwide. These diplomatic missions can provide consular services like passport renewal, legal aid, and emergency support.
There is an exciting regulation regarding taxes: Non-resident citizens are subject to tax on income earned or realised only in Egypt. It means that your foreign-sourced income may be tax-exempt if you do not live in Egypt if you are a passport holder.