INFORMATION FROM THE AHK ON THE ACQUISITION OF REAL ESTATE IN EGYPT BY FOREIGNERS

The acquisition of real estate by foreigners is regulated by Laws 15/1963, 143/1981 and 230/1996.

Law 15/1963 prohibits the acquisition of agricultural land by foreigners, both natural and legal persons.

Law No.143/1981 regulates the acquisition and ownership of desert land (land located 2 km and more outside the city limits). Here there are limitations on the sizes of land that can be acquired by individuals, families, cooperatives, partnerships and corporations. Partnerships, for example, can acquire up to 10,000 feddan (about 10,000 ha) of desert land, while corporations are allowed 50,000 feddan.

Foreigners may be partners or shareholders in such companies, provided that at least 51% of the capital is owned by Egyptian citizens. However, in the event of the dissolution of such a company, the land shall revert to the Egyptian partner or partners.

Law No. 230/1996 allows foreigners to acquire real estate under the following conditions:

The acquisition of property is limited to two properties in Egypt to be used as a home for the owner and his family. Other uses require permission from the government.

The area of each property must not exceed 4000 square meters.

The property must not be designated as a historic (archaeological) site.

Exceptions to conditions one and three may be permitted by the Prime Minister.

In the case of real estate used for tourism, the conditions of acquisition shall be in accordance with the respective government's requirements.

Foreigners holding undeveloped land must build on it within five years of notarizing the acquisition of ownership.

Resale of real estate is not permitted to foreigners until five years after the registration of the acquisition of ownership, unless an exemption is granted by the Prime Minister.

You can find the original article here:

https://aegypten.ahk.de/dienstleistungen/rechtsberatung/immobilienerwerb?fbclid=IwAR0NG-wBqGCnKem4nb0wrpWuZDDlIEKys4rhJUijaHAQelBvOMzSPWwXPxY

THE INFORMATION IN THIS ARTICLE IS PROVIDED WITHOUT WARRANTY AND IS TAKEN FROM THE INFORMATION PROVIDED BY AHK.