Egyptian citizenship program: history, economy, finance

Historical part

In 2020, Egypt officially launched a citizenship program aimed at individuals who have been living in the country for an extended period but hold another nationality. The first applicants for citizenship were wealthy businessmen and representatives of "prestigious professions" from Africa and the Middle East. Despite delays due to the pandemic, the program was initiated, and an authority was established to evaluate the candidates.

Economic part

Egypt is rapidly developing both economically and demographically. For example, the city of Cairo, which officially registers about 15 million people, has an unofficial population of around 23 million. The authorities have decided to build a new administrative center - New Cairo, where all government organizations and embassies will be relocated, creating a sort of "new Dubai." The country's president plans to construct 16 new cities, which will require huge investments, including from other Arab countries. Conscious spending on development will allow Egypt to become a completely different country in 10-15 years.

• Egyptian citizenship program
• The new administrative center is New Cairo.
• Plans for the construction of 16 new cities

In Egypt, there is an economic citizenship program that offers investors the opportunity to obtain citizenship by making relatively small investments. To qualify, one must purchase real estate worth at least $300,000, open a deposit in a local bank for at least $500,000 for three years, or make a non-refundable contribution of at least $250,000 to the Egyptian treasury.

The advantage of the program is the ability to acquire multiple real estate properties of different types, except for those located on the Sinai Peninsula. The acquired property must remain in the investor's ownership for at least 5 years.

Interesting real estate offers in Egypt:

• Real estate is in demand in the El Alamein region and old Cairo.
• Profitable investments from Apex Capital Partners in Hurghada
• Investments in commercial properties with guaranteed rental income

An investment option in commercial properties with guaranteed rental income is also interesting, which is becoming increasingly popular in Egypt. However, it is worth noting that the number of good offers on the market is limited.

The citizenship application process can be started before it is completed, and for those who would like to earn income from renting out property, it is advisable to consider options for commercial real estate.

However, it is important to consider that the Egyptian pound is not a stable currency, so opening a deposit of at least 500,000 dollars may not be the most profitable investment. Despite this, Egypt's economic citizenship program offers interesting opportunities for investors who want to obtain Egyptian citizenship and invest in real estate.

Participation in local companies for amounts starting from 450 thousand dollars.provides the opportunity to invest in both new and existing enterprises. The investor can choose between equity participation and full ownership of the business. It is important to note that out of the total amount of $450,000, $350,000 can be returned later, while $100,000 is a non-refundable contribution. After receiving approval, the investor can transfer the majority of their investments to their accounts in any country.

The process of obtaining citizenship in EgyptIt has several key differences from similar programs. One of the main differences is that the applicant's candidacy is first approved, and only then is the principal amount transferred. The first step involves paying a state fee of $10,000 and covering legal services. After that, a background check on the investor candidate is conducted.

Egyptian authoritiesThey demonstrate a high level of flexibility regarding the transfer of funds for participation in the program, allowing money to be transferred from both personal or commercial bank accounts as well as in cash. Transfers from third parties or companies to the applicant's accounts are also permitted. A new payment option in rubles may be added soon.

When purchasing real estate from clientsThere are two options: making payments in installments with the subsequent right to claim citizenship after full payment, or making a one-time payment for citizenship. The final decision and the transfer of the main investment amount are made after the application is approved.

The procedure for obtaining Egyptian citizenship through investmentIt usually takes between six to nine months. The applicant's personal presence is required only once for submitting biometric data at the final stage of the process. All previous steps can be completed with a notarized power of attorney at the embassy, without the applicant's personal presence.

If you want to speed up the processYou can fly to Egypt twice: the first time to sign and submit documents at the beginning of the process, and the second time to provide biometrics at the end.

Who might find Egyptian citizenship useful?

The Egyptian passport is not a universal travel document, as it allows entry...

Alternative civil service programs

According to the latest data, alternative citizenship programs are gaining popularity among Russians who are looking to preserve their capital and find a new place to live. This applies not only to citizenship in Turkey and Vanuatu.

Turkish citizenship

The Turkish citizenship acquisition program, for example, offers two options: purchasing real estate worth at least $400,000 or depositing at least $500,000 in a Turkish bank. Real estate in Istanbul is one of the most popular investment options, as it facilitates the easy processing of the Turkish citizenship program.

• Visa-free entry to 110 countries, including not only European countries but also countries like Japan, Singapore, South Korea, and others.
• Obtaining a five-year Schengen visa.
• The opportunity to develop a business and legally transport a family to the USA through the E-1 (entrepreneur visa) and E-2 (investor visa) programs due to Turkey's international agreements with the USA.
• The average processing time for citizenship is about 6 months.

Citizenship of Vanuatu

Vanuatu, in turn, offers citizenship under more attractive conditions. The citizenship program of Vanuatu has the lowest entry threshold among the three countries, as the contribution to the government fund is only $130,000 for a single applicant or $180,000 for a family of four.

Part I. Historical

In conclusion, I got the impression that the Egyptian citizenship program is one of the most accessible options available on the market. With several investment options, everyone can find the most suitable scheme to obtain citizenship in the country. Moreover, Egypt is a country experiencing rapid economic development, which is receiving a lot of attention. Investing in real estate or opening a bank deposit can be not only promising but also safe ways to invest funds. I would recommend the Egyptian citizenship program to anyone looking for new opportunities for business, living, and investing.

Part II. Economic

At the moment, Egypt is indeed developing rapidly. This is evident, for example, in Cairo – a city with a very complex economic and demographic situation. It has about 15 million people (only officially registered). According to unofficial data, the population of the capital is around 23 million.

The authorities of the country have decided to build a new administrative center, where all government organizations and embassies will be relocated, creating a sort of "new Dubai." According to plans, 6.5 million people are expected to move to the "New Cairo." In the last two years, new housing and office buildings have already been constructed in the new city.

According to the plans of the President of Egypt, 16 (!) new cities will be built in the country. Huge amounts of investment are being attracted for this, including from other Arab countries. Egypt is deliberately spending vast sums on this development. It can be assumed that in 10-15 years, it will be a completely different country.

Part III. Formal

The financial terms of the Egyptian citizenship program offer one of the simplest schemes for obtaining citizenship. One of its advantages is the multiple investment options available.

• Purchase of real estate for an amount starting from $300,000.
• Opening a deposit in a local bank for an amount starting from $500,000.
• Non-refundable contribution to the treasury of Egypt in the amount of $250,000 or more.

It is allowed to purchase either one or several properties. These can be residential or commercial real estate, new properties, and offers on the secondary market. The only restriction is that properties located on the Sinai Peninsula cannot be purchased.

The acquired property must remain in the investor's ownership for five years. After this period, it can be sold.

Opening a deposit in a local bank for an amount starting from $500,000. The deposit is made in Egyptian pounds for three years. Interest on the deposit is not paid out. Thus, this is a freeze of funds in a not very stable currency.

A non-refundable contribution to the treasury of Egypt in the amount of $250,000. Essentially, it's a donation to the state of this amount. Such schemes exist in the programs of Caribbean countries or in Vanuatu.