The Arab Republic of Egypt, located in the northeast corner of Africa, spans around 1 million square kilometers, and ranks as the 12th largest country in Africa and the 30th largest country globally. It shares borders with Gaza and Israel to the northeast, Sudan to the south, and Libya to the west. The Gulf of Aqaba in the northeast separates Egypt from Jordan and Saudi Arabia. Egypt is the third most populous country in Africa and the 14th worldwide.
Located between the Mediterranean and the Sahara and home to the Suez Canal, Egypt represents an important link between Europe and Africa with great economic potential.
Egypt’s economy is primarily driven by the services industry, which accounts for approximately 55 percent of the gross domestic product (GDP). In 2023, Egypt emerged as the top contributor to Africa’s GDP, accounting for 13.9 percent, surpassing Nigeria and South Africa. Egypt has also been one of the leading drivers of trade in Africa, with an estimated 10 percent share in 2023.
The dynamic growth of the Egyptian economy, its strategic geographical position, low labor costs, skilled workforce, unique tourist potential, substantial energy reserves, large domestic market and the success of the reforms undertaken by the authorities contributed to driving up foreign investments in Egypt Egypt recently adopted an Investment Law that includes performance requirements for certain investment incentives, including labor-intensive projects and geographical location. The government has also set up special economic zones with business-friendly regulations: more liberal, more efficient administration, tax incentives, facilitation of registration and customs procedures and better infrastructure.
Egypt offers various opportunities for investors, including purchasing real estate for rental income. The growth of tourism and the active development of infrastructure create favorable conditions for long-term investments. Investors who purchase real estate in Egypt may also obtain residency, which simplifies staying in the country.
The real estate market in Egypt is steadily developing, and experts predict further price increases. Investments in tourist regions and prestigious areas of Cairo are particularly promising. Demand for real estate is expected to grow due to the increasing population and interest from foreign investors.
As in any other country, investors should consider legal aspects and potential economic risks related to currency fluctuations and changes in legislation. However, with the right approach and consultation with local experts, investing in real estate in Egypt can be a profitable and stable investment decision.
Egypt offers citizenship by investment in real estate with a minimum investment of $300,000.
In Egypt, obtaining citizenship through investment is possible, but the conditions and requirements may differ from other countries with more formalized citizenship-by-investment programs. Currently, Egypt offers the possibility of obtaining citizenship through the purchase of real estate or other types of investments. Along with the investor, the following individuals may also obtain Egyptian citizenship:
All applicants must meet the program's requirements and undergo a due diligence process. Egyptian legislation may change, so it is important to consult with local legal experts for up-to-date information.
Egypt employs a progressive tax system, where the tax rates increase with higher income levels.
The progressive tax system aims to achieve a fair distribution of the tax burden and ensure that higher-income individuals contribute proportionately more to government revenue.
The income tax rates for individuals range from 0% to 27.5%.
VAT -14%
Individuals engaged in business activities, such as self-employed professionals, freelancers, and small business owners, are required to report their business profits as part of their taxable income. Business profits are calculated by deducting business-related expenses, such as office rent, utilities, supplies, and employee salaries, from the total revenue generated by the business during the tax year. Corporate income tax – 22.5%
Individuals who own residential or commercial properties and receive rental income from tenants must include this income in their tax return. However, they can also deduct certain expenses related to the rental property, such as property maintenance, repairs, and property management fees, from the rental income before calculating the taxable amount. The real estate tax rate is 10% of the value of real estate (the calculation of the value of real estate will be different for residential and non-residential premises).
Capital gains refer to the profits realized from the sale of assets, such as real estate, stocks, bonds, or other investments. In Egypt, capital gains are treated as taxable income and must be reported in the individual’s tax return. The tax treatment of capital gains varies based on the type of asset and the holding period. Capital Gains Tax – 22.5 %
Egypt has entered into double tax treaties with several countries to avoid double taxation and prevent tax evasion. Expatriates working in Egypt may benefit from tax treaty provisions that exempt certain types of income from taxation or provide reduced tax rates. These provisions can significantly impact the tax liabilities of foreign nationals, making it essential for expatriates to be aware of the tax treaty benefits.
Egypt has concluded 61 Double Tax Treaties (DTC) with the following jurisdictions: 61 DTC: Albania, Algeria, Austria, Bahrain, Belarus, Belgium, Bulgaria, Great Britain, Hungary, Germany, Greece, Georgia, Denmark, India, Indonesia, Jordan, Iraq, Ireland, Spain, Italy, Yemen, Canada, China, Cyprus, Korea, Kuwait, Lebanon, Libya, Mauritius, Macedonia, Malaysia, Malta, Morocco, Netherlands, Norway, UAE, Oman, Pakistan, Palestine, Russia, Romania, Saudi Arabia, Serbia, Singapore, Syria, Sudan, USA, Tunisia, Turkey, Poland, Uzbekistan, Ukraine, Finland, France, Montenegro, Czech Republic, Switzerland, Sweden, Ethiopia, South Africa, Japan.
In addition, Egypt has signed and ratified the Multilateral Convention on the Implementation of Measures Related to Tax Agreements in order to Counteract the Erosion of the Tax Base and the Withdrawal of Profits from Taxation (Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and profit Shifting, MLI). The multilateral Convention entered into force for Egypt on January 1, 2021.
There is no currency control.
The process of setting up a business in Egypt typically involves several key steps:
Egypt boasts a reliable banking system that plays a vital role in the country’s economic growth. The banking sector provides essential financial services, including loans, credit cards, and various transactional facilities, making it conducive for entrepreneurs looking to start a business.
Egyptian banks offer two main types of bank accounts: the saving account and the current account.
Procedure of opening a bank account includes providing the following:
In the procedures for establishing limited liability companies, it is not request to open a bank account in establish a limited liability company and the company's capital is not deposited.
A bank account is opened only in the establishment of one-person companies that consist of one partner, and the capital is deposited and the bank immediately freezes the account, preventing its disposal until the commercial register is extracted and the validity and signatures of the partners are reviewed on all papers and documents that have been submitted.
Exclusive real estate services
Tax Identification Number
Getting a driver's license
Police reports for approved clients
Local SIM card
Company registration/incorporation (local and offshore companies)
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All investments must be funded through a direct transfer of funds from abroad. There is also the option of using funds that are sourced from abroad, as long as the funds have passed through an official security customs checkpoint and were received by the client after they obtain their case file number from the government, for their application.
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