Egypt, a land steeped in history and cultural richness, beckons not only tourists but also those seeking a permanent residence. This article explores how purchasing property in Egypt paves the way for residency, outlining the eligibility criteria, procedures involved and the accompanying benefits. Residency Conditions Through Property Purchase Owning property in Egypt unlocks residency opportunities, but specific regulations govern this process. Here's a breakdown of the key requirements: - Investment Value: The property value must meet a minimum threshold set by the Egyptian government. Currently, this stands at $100,000, subject to change based on economic developments. - Property Status: The purchased property must be legally sound and free from any encumbrances. Verification of property documents is crucial. - Financial Source: Investors need to demonstrate the legal origin of the funds used for the purchase, ensuring transparency and avoiding potential complications. - Permits and Approvals: Certain situations might necessitate obtaining permits from relevant authorities, such as the Egyptian National Security Agency. Upon approval, a residency visa is granted. Benefits of Property Residency in Egypt Opting for property residency in Egypt offers a multitude of advantages: - Immerse Yourself in Culture and History: Become part of Egypt's vibrant cultural tapestry, steeped in millennia of rich history. - Embrace a Pleasant Climate: Egypt's predominantly mild climate throughout the year makes it an attractive destination for many. - Investment Potential: Leverage the prospects of the Egyptian real estate market and explore investment opportunities across various sectors. - Experience Natural Wonders: From the majestic Red Sea to the life-giving Nile and the captivating desert oases, Egypt boasts breathtaking natural diversity. Obtaining Residency Through Property Purchase: A Step-by-Step Guide The process of acquiring residency via property purchase in Egypt involves several steps: - Property Purchase: The initial step is to finalize the property purchase, ensuring it meets the investment and legal requirements. - Document Submission: Compile and submit all necessary documents to the Egyptian authorities, including property ownership documents and proof of financial resources. - Verification and Review: The authorities meticulously examine the documents to guarantee adherence to all conditions. This may involve collaboration with other government entities. - Residency Issuance: Following successful approval, the applicant receives their residency permit, allowing them to establish themselves in Egypt. Required Documents for Property Residency in Egypt To expedite the application process, investors must collect and submit the following essential documents: Property Documents: - Sale Contract/Ownership Document: Establishes ownership rights and details the transaction. - Property Condition Report: Verifies the property's condition and legal standing. Identification and Financial Status Documents: - Passport: A copy of the investor's passport. - Personal Photos: Recent photographs of the applicant. - Proof of Address: Documents like utility bills or lease agreements confirming residency. - Financial Source Proof: Bank statements or financial certificates demonstrating the investor's financial capability. Financial Source Report: - Bank Certificates: Details regarding the financial sources used for the property purchase. - Tax Declaration: Proof of the investor's compliance with tax regulations. Building and Planning Permits (if applicable): - Building Permits: Required for any property modifications. - Planning Approvals: Necessary for larger-scale projects. Ownership Verification and Debt Check: - Previous Ownership Certificates: For properties that have had prior owners. - Debt Verification Report: Ensures there are no outstanding debts on the property. It's important to note that document requirements may vary depending on the property type and current government regulations. Consulting with a legal professional or experienced consultant throughout the process is highly recommended to ensure a smooth and successful application.
Selena Bay is located in Second Hurghada, Hurghada. The developer of Selena Bay is Palma Group.
The completion date for Selena Bay is and the finishing for the properties are Fully Finished.
The starting price of properties in Selena Bay is 2,200,000 EGP with a price per sqm of 18,384 EGP. The downpayment for a property in Selena Bay is starting at 15% or 330,000 EGP. The number of installments for a property in Selena Bay is 24 installments and has a payment plan of 6 years. The monthly payment of a property in Selena Bay 30,556 EGP
Zed East is located in New Kattameya, New Cairo. The developer of Zed East is Ora Developers.
The completion date for Zed East is and the finishing for the properties are Fully Finished.
The starting price of properties in Zed East is 10,000,000 EGP with a price per sqm of 71,942 EGP. The downpayment for a property in Zed East is starting at 5% or 500,000 EGP. The number of installments for a property in Zed East is 32 installments and has a payment plan of 8 years. The monthly payment of a property in Zed East 104,167 EGP
Palm Hills New Alamein is located in Alamein, North Coast. The developer of Palm Hills New Alamein is Palm Hills Developments.
The completion date for Palm Hills New Alamein is and the finishing for the properties are Fully Finished.
The starting price of properties in Palm Hills New Alamein is 8,815,000 EGP with a price per sqm of 59,966 EGP. The downpayment for a property in Palm Hills New Alamein is starting at 10% or 881,500 EGP. The number of installments for a property in Palm Hills New Alamein is 24 installments and has a payment plan of 6 years. The monthly payment of a property in Palm Hills New Alamein 122,431 EGP
D-Bay is located in Dabaa, North Coast. The developer of D-Bay is Tatweer Misr.
The completion date for D-Bay is and the finishing for the properties are Fully Finished.
The starting price of properties in D-Bay is 6,400,000 EGP with a price per sqm of 67,273 EGP. The downpayment for a property in D-Bay is starting at 10% or 640,000 EGP. The number of installments for a property in D-Bay is 28 installments and has a payment plan of 7 years. The monthly payment of a property in D-Bay 76,190 EGP
June is located in Ras El Hekma, North Coast. The developer of June is SODIC.
The completion date for June is and the finishing for the properties are Fully Finished.
The starting price of properties in June is 10,500,000 EGP with a price per sqm of 78,680 EGP. The downpayment for a property in June is starting at 5% or 525,000 EGP. The number of installments for a property in June is 24 installments and has a payment plan of 6 years. The monthly payment of a property in June 145,833 EGP
Silversands is located in Sidi Heneish, North Coast. The developer of Silversands is Ora Developers.
The completion date for Silversands is and the finishing for the properties are Fully Finished.
The starting price of properties in Silversands is 28,460,000 EGP with a price per sqm of 92,700 EGP. The downpayment for a property in Silversands is starting at 10% or 2,846,000 EGP. The number of installments for a property in Silversands is 24 installments and has a payment plan of 6 years. The monthly payment of a property in Silversands 395,278 EGP