5 New conditions for granting Egyptian citizenship to foreigners

Egyptian Prime Minister Dr. Mustafa Madbouly issued a decision to amend some conditions and procedures for granting Egyptian citizenship to foreign investors, in exchange for purchasing establishments or investing in companies or depositing money in dollars.

The decision specified a number of cases to grant Egyptian citizenship to foreigners, namely:

• A government property, or owned by a public company for at least 300 thousand dollars.

• Establishing or participating in a project worth at least 350 thousand dollars, with a deposit of $ 100,000 in the state treasury as direct revenues that are not received.

• Depositing the amount of $ 500,000, as a deposit that is recovered after 3 years in the Egyptian pound at the declared exchange rate at the time of recovery, and without benefits.

• Depositing an amount of $ 250,000, as direct revenues in foreign currency, to the state treasury and not respond.

• Egypt also authorized the installment of the amount within a period that does not exceed one year, not to be granted citizenship until after the full payment of the established installments.

The possibility of installments

It is permissible to install the amounts stipulated within a period not exceeding one year, not to be granted the citizenship to its student only after paying the full amounts of the prescribed, and the naturalization applicant is granted during the installment period for a temporary residence in the country for non -tourism.

In the event that the applicant is stuck to the payment of these sums or his retreat from his request, the previously paid in the Egyptian pound, at the exchange rate announced by the central bank on the date of recovery, and not exceeding the price on the date of payment, and without benefits.