|  Question |  Are mortgages available?
Answer
Yes, on freehold properties only, it is a capital repayment type mortgage, subject to status, on 65% of the purchase price is available after completing as a release of equity basis
| Are the properties in Egypt freehold or leasehold?
Answer
All properties are freehold in Egypt except in South Sinai where the ownership is based on a 99-year long lease system
| Can a company intending to invest in the Managing Body of an Economic Zone or wants to establish a manufacturing unit in such Economic Zone be incorporated under Investment Incentives Law, if yes, whether such company shall be governed by the Companies...
Answer
Can a company intending to invest in the Managing Body of an Economic Zone or wants to establish a manufacturing unit in such Economic Zone be incorporated under Investment Incentives Law, if yes, whether such company shall be governed by the Companies Law 159 of 1981 also. Please elaborate and provide all the laws applicable on such company?
Yes, companies intending to establish a manufacturing unit in the Special Economic Zone will be governed by the Companies Law 159/1980, in addition to law no.34/1976 concerning the Commercial Register. Law 83/2002 of economic zones with a special nature will also be applicable on those companies. Without violating the provisions of international treaties enforced in Egypt, the Zone shall be subject to Egyptian tax and customs Laws, where no provisions exist within this Law.
| Can a foreign entity participate in the infrastructure development of an Economy Zone, if yes at which level a foreign entity may invest in the Managing Body of an Economy Zone? Can a foreign investor invest in Main Development Company (“MDC”)?
Answer
Can a foreign entity participate in the infrastructure development of an Economy Zone, if yes at which level a foreign entity may invest in the Managing Body of an Economy Zone? Can a foreign investor invest in Main Development Company (“MDC”)? If yes, whether the equity participation in the MDC is flexible or fixed?
A foreign entity can participate in the infrastructure development of the Economic zone; In regard to participation of the entity with the MDC, this can be achieved through agreed upon contractual arrangements between both parties and a form of partnership such an SPV can be derived.
| Do I need to become a resident of Egypt to buy a property?
Answer
Yes, you have to obtain a residents visa, so that you can open a bank account and if using an Egyptian lawyer give him power of attorney to register your property in court.
| How do I pay my bills in Egypt ?
Answer
Some banks like HSBC have internet banking, so transferring money is simple, you can use an overseas investment property management company who will look after all your payments for a fee
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