On September 14, 2023, the Council of Ministers of Egypt approved a draft decision introducing changes to the Law on Granting Egyptian Citizenship to foreigners. Including a clause that removes restrictions on selecting real estate for citizenship applications. Now you can choose projects from any developer, with one exception – the location should not be on Sinai Peninsula. Thus, buying any real estate in the El Gouna will allow you to apply for Egyptian citizenship by investments.
Egyptian Citizenship by Investment is a program originally created to legalize those entrepreneurs from neighboring states who already live in the country. However, for years they could not get the desired status.
Promising citizenship program restarts in Egypt. On March 7, 2023, the Decree no. 876/2023 of the Prime Minister of Egypt Mostafa Madbouly was published, it will soon be discussed in the Egyptian Parliament. This document introduces a host of changes to the country’s citizenship by investment program (CIP), specifically regarding the program’s investment criteria.