CITIZENSHIP BY INVESTMENT PROGRAM
EGYPT CITIZENSHIP BY INVESTMENT: AN ULTIMATE GUIDE
The Government of Egypt launches a brand new citizenship by investment program. This program is launched to attract foreigners and bring huge foreign investment to the country.
Under the latest amendments in 1975 citizenship legislation, an applicant can now get Egyptian citizenship in just 70-90 days. This amendment in citizenship is approved by parliament. According to the changes in recent amendments, getting citizenship becomes easy to procure, and the time required to get citizenship is also reduced from 5 years to 3 months. With simplicity and quick processing, the citizenship program’s amendment also brings an investment option for all applicants’ applying for citizenship.
The Egyptian CBI plan could be intriguing for the individuals who look for something other than the Passport, considering an Egyptian visa just has a restricted travel opportunity.
Why is Egypt citizenship as second citizenship?
- Egypt is a strategic location
Egypt is viewed as a center for Business and probably the oldest established civilizations in history. It is associating between the world, with Suez waterway 8% portion of world trade, beaches, and door to Africa,
- Largest Arabic market with high population
With a Majority of the young Population – English is utilized in Business, multi-social climate, Egypt is home to the biggest populace and Middle East market. This suggests a consistent – if not developing – need for private and Business property incredible interest. The property costs are low contrasted with Europe, added advantage for investors.
- Low-cost business establishment
Here you can live with minimal cost of living standards. You can establish a Business and maintain it at a low cost.
Egypt is a restless city with such a high population living with a great culture. It is the best place for tourists to know ancient life. Here people are warm and inviting you with respect.
Egypt Citizenship by Investment Program
Investors, while applying for citizenship in Egypt, have the five most alluring options for investment. Under Egypt citizenship by investment program, an applicant can invest in the following scheme
- Minimum Donation in government fund of $250,000
- Minimum investment in Business is $420.000 (if you are investing as a partner, at least you must hold a 40% share)
- Minimum investment in Real Estate projects approved by Government is $500,000
- Minimum amount to be deposit in the bank is $750,000 (applicant can take it after five years)
- Minimum amount to be deposit in bank $1.000.000 (applicant can keep it for three years but no interest applies)
The processing time required for Egypt Citizenship by Investment Program
While applying for Egypt Citizenship by Investment Program will take approximately three months. Under this process, complete scanning of investors and family members’ documents and records is done before citizenship approval.
Special Citizenship Unit
For reviewing investors’ applications, the Government set up a Special Citizenship by Investment Unit (SCIU). The decisions to approve the citizenship will be taken within 70 to 90 days and will make suggestions to the prime minister for conferral citizenship to the applicant.
Egypt is accepting dual citizens. But if you have dual citizenship, it must be known to authorities. There is no necessity to deny prior citizenship.
Investment Sectors in Egypt
There are many investment options for investors in Egypt. Investors can invest in:
- Tourism business
- Trading goods or raw material
- Solar power
- Cinema & Music
- Construction industry or Properties
- Food & Agriculture
Steps To Egyptian Citizenship
To apply for Egyptian citizenship and granting a Passport require easy steps. Given below are seven steps to follow:
- Select the required investment option
Applicants can choose any of the investment options from donation to government fund, investment in real estate, Bank deposit, and establishment of Business or becoming a partner in current Business.
- Planning for Investment Project
If you select the Business as the investment option, it becomes necessary to know about the Egyptian market & plan accordingly.
- Prepare all necessary documents
Get ready with all the necessary documents required for your investment plan. Given below is the list of few essential documents that are necessary while applying for citizenship:
- A valid ID proof
- Passport size photos
- Birth certificate
- Marriage certificate
- Police clearance certificate
- Application process
This is the step in which you have to invest in the selected investment plan.
- Temporary residency
You can also apply for temporary residency applicable for only a six-month residency permit.
- Granting Egyptian Passport
Applicants can get an Egyptian Passport after completion of due diligence, including your family.
Further Conditions for Egyptian Citizenship
The Egyptian Government will approve your application only if you fulfill these conditions:
- No past criminal record – The applicant must have any criminal record in the past or current, and with this, you must not be captured by International police.
- No serious disease – Egyptian citizenship by investment also checks that the applicant is physically fit.
- The money you are investing is from outside the country – Money you are investing in is wired from abroad for granting citizenship.
Benefits of Dual Citizenship
The reason why you ought to have subsequent citizenship is exceptionally simple to reply – If you have double citizenship, you are a resident of two nations simultaneously. While double residents do appreciate certain advantages –
- You can take social services of two nations;
- You have the choice to work, live, and have a property in two nations;
- You can easily travel between two countries without any difficulty.
Double residents can get the advantages offered by every country. And if you have Egyptian citizenship as second citizenship, it will be more beneficial for you.
With Dual resident, you are permitted to carry passports from the two nations. Having citizenship, there is no requirement for long-stay visas and addressing the motivation behind your outing. It also ensures the right of passage to the two nations, which can be particularly significant if you are a student, want to do business, or have a family to visit.
Ownership of Property:
The second and most satisfactory advantage of double citizenship is that you can have your property in two countries. A few nations limit land ownership to residents, and as a legitimate resident of two nations, you would have the option to buy property in either—or both—nations. On the off chance that you travel permanently between the two nations, this may be particularly valuable since property investment may offer a more practical lifestyle choice.
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Connect with us now to get a free consultant today. You can also visit our site to get the complete information and details about Egypt Citizenship by Investment Program or any other citizenship program.
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