Egypt’s real estate market is one of the most lucrative and dynamic markets in the Middle East and North Africa region. With the Egyptian government’s ongoing efforts to boost economic growth and encourage foreign investment, the real estate sector has become an attractive option for foreign investors looking to diversify their portfolios and generate long-term returns. Relying on real estate legal services in Egypt for foreign investors, provided by legal professionals specialized in the field in cooperation with the Egyptian government, has become essential for the success of the real estate investment process in Egypt.
Key Conditions for Foreign Investors to invest at real estate in Egypt
Conditions for property ownership in Egypt for foreign investors have undergone updates to facilitate investment. Key conditions include:
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Property Purpose
Foreign investors were initially limited to owning two properties for residential purposes. However, recent amendments allow foreigners to own an unlimited number of properties for residential use, and there’s no restriction on owning properties for licensed business activities.
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Property Size
Legislation dictates that the total area of real estate owned by a foreign investor must not exceed 4,000 square meters.
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Antiquities Protection Law
The property should not fall within the jurisdiction of the Antiquities Protection Law, which governs certain real estate areas.
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Construction Timeline
If the foreign investor owns vacant land, they must commence the construction process within a maximum of five years from the purchase date.
The Egyptian government incentivizes foreign real estate investment
The Egyptian government provides a range of facilities, investment incentives and real estate legal services in Egypt for foreign investors aimed at attracting more investments to the country. Here are some of the incentives and facilitations offered:
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Tax Incentives
The government provides tax incentives for foreign investors, such as income tax reductions for a specific period or exemptions from taxes on profits invested in certain vital sectors.
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Expedited Licensing
The government aims to expedite the processes of granting licenses and permissions required for foreign investors. This includes streamlining and expediting procedures for establishing companies and obtaining the necessary licenses to start operations.
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Property and Contract Protection
The government emphasizes a substantial focus on ensuring the protection of property and contracts for foreign investors. It provides the necessary laws and legal frameworks to safeguard investor rights and enhance legal and contractual stability.
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Special Economic Zones
Special economic zones have been established in Egypt, such as the New Administrative Capital area. These zones offer a distinctive investment environment with specialized financial and administrative incentives for investors.
Those incentives, facilitations and legal services aim to enhance the business environment and attract more foreign direct investments to Egypt. These measures are part of ongoing efforts to bolster economic stability and improve the investment climate in the country.
“Consortio Law Firm” your key to successful real estate investment in Egypt
Investing in real estate holds good opportunities, but it requires thorough research and a careful evaluation of the market and potential risks. Therefore, foreign investors should take precautions and seek advice before investing in real estate in Egypt. It is advisable to seek legal counsel and understand the local laws and regulations related to real estate investment.
Collaborating with “Consortio Law Firm” aims to Providing the full understanding of real estate legal services in Egypt for foreign investors which lead to obtain more precise information about the current investment opportunities in Egypt.
For information about real estate legal services in Egypt for foreign investors, get in touch immediately with our professional lawyers through the phone number 002 01028806061 or send us a WhatsApp or email Info@consortiolawfirm.com.
