The Prime Minister is responsible for facilitating the procedures for granting residence to foreigners if they own the property

million. Mustafa Madbouli, Prime Minister, Minister of Housing, Services and Urban Communities, held a meeting to facilitate the practical procedures for granting non-tourist temporary residence to foreigners who own one or more properties in the Arab Republic. Egypt in the presence of officials from the Ministry of Housing. During the meeting, Dr. Mustafa Madbouli was charged with facilitating the granting of temporary residence to foreigners in case of possession of the property, as stipulated in the decision of the Minister of the Interior confirming that foreigners may be temporary residents for non-tourism for five years. In the Arab Republic of Egypt, for an amount not inferior to 400 000 dollars, it is also permissible for foreigners staying temporarily for non-tourism to benefit from a period of three years renewable for those who possess one or several properties in Egypt. This decision, in addition to Law No. 27 of 2018 on the regulation of certain provisions of the real estate month in the new urban communities, will help encourage the export of Egyptian real estate abroad, generating significant foreign exchange income and reviving real estate development. , And to do it in a faster way

Medboli stressed the need for coordination between the Central Bank, housing and interior ministries, as well as real estate developers for activate the decision of the Minister of the Interior, and the marketing of this decision, which will have a

Interior officials pointed out that the procedures necessary to obtain residence for foreigners after this decision does not takes no more than a week, and coordination between the parties involved to overcome any obstacle, and facilitate access to any foreign buyer of the property.