Egypt has one of the newest citizenship investment programs on the market. It was launched during the pandemic, and even went through a number of reforms to improve the conditions. At the moment, “Egyptian Citizenship by investment” is not as well-known as, for example, the CIP programs of the Caribbean countries. That is why the processing speed in Egypt can be much faster, since there is not a large flow of applications at the moment.
So, who is this CBI program for? Firstly, it is an opportunity to obtain alternative citizenship for any applicant, since Egypt did not impose restrictions on accepting applications from citizens of specific states, unlike the Caribbean countries. Secondly, real estate purchased under the program can be sold after 5 years, and citizenship will remain forever. Thirdly, applicants have wide range of options how to transfer the money – even cash is officially allowed.
Egyptian citizenship. Processing features
According to the terms of the Egyptian citizenship program, an investor can choose a real estate option starting from $300,000 USD. Moreover, when purchasing a townhouse for $900,000 USD, you can submit several applications at once. For example, an investor and a spouse with a child, as well as his parents and her parents. There are other options for participating in the program, you may get more information here >>
— To start the procedure for obtaining Egyptian investment citizenship, you need pay $10,000 USD in government fees for security checks (due diligence). As well as the cost of legal services. Please note that, according to the official terms, any third party can pay for the applicant’s participation without any additional checks, as long as the main applicant has no criminal record.
— After this, main applicant may wait until all due diligence procedures are completed before making an investment. Note that this first approval takes 6-9 months. It is allowed to change your mind and switch to the different type of investment at this stage. However, such a decision will lengthen the procedure by an additional 3-6 months to obtain final approval.
Thus, to get faster results, you should make a transfer of investment at the first stage, while passing due diligence. The easiest way would be to visit Egypt to sign the necessary papers and choose a property with the assistance of Apex Capital Partners, a licensed agent for the Egyptian citizenship program.
Egypt is now the focus of attention of foreign investors because the local residential real estate market is developing dynamically along with the implementation of major infrastructure projects, such as the expansion of the Suez Canal and the construction of a new capital.
El Gouna. The real premium real estate in Egypt as we know it
El Gouna is a unique project of one developer on the Red Sea coast, which was founded in the late 80s. It stands out from the general background with its prices: from $4 thousand USD per square meter compared to $1-2 thousand per square meter in the New Administrative Capital of Egypt.
However, El Gouna easily justifies such prices by the fact that the infrastructure has long been formed here, to the point that the international school EGIS has been operating here for more than 25 years. There is also the German Hospitality College (GHS) and The Montessori House Trillium kindergarten. El Gouna also boasts its own hospital, airfield and even a radio station.
Only HNWI live in El Gouna and vacation here: wealthy Europeans, Americans and Egyptians. Accordingly, within this community there is an opportunity to both rent out your property and put it up for sale.
Examples of current proposals in the El Gouna project for participation in the Egyptian program
Apartments in a low-rise building in a new quarter of El Gouna. A rare opportunity to purchase real estate at an optimal price in such a landmark project. The project is made in the traditional style of Egyptian architecture; you can choose an apartment with either a balcony or a panoramic window. Near the house there is a sandy pool – a new trend in design – imitating a natural lagoon and beach. The project will be commissioned in 2025.
For example, a one-bedroom apartment on the ground floor with an area of 64 m2 — $262,000 USD, a two-bedroom apartment with an area of 90 m2 — $360,000 USD.
To start the procedure for obtaining Egyptian investment citizenship, it is enough to pay $300,000 USD for real estate, and the rest can, if desired, be paid in installments.
Townhouse with 3 bedrooms, two floors, double height ceilings, roof with seating area, view of the communal pool. Cost from $772,000 USD to $844,000 USD.
Residences in 3-storey houses, made in traditional Egyptian style, with a modern interior design. Apartments overlooking the golf course. Due to the fact that the project is located on a hill, panoramic views open even from the apartment on the ground floor.
Cost — from $976,000 USD to $1 million. Upon request, a custom pool can be made for an additional fee.
