The board of Directors of the General Authority for investment and free zones has approved new regulations to facilitate the stay of foreign investors in Egypt
This is within the framework of the efforts exerted by the Investment Authority to improve the investment climate and encourage more foreign direct investments to Egypt
According to the new regulations, an investor who is serious about implementing his investment project is entitled to obtain a residence permit for a continuous period of five years, which is renewed for similar periods throughout the duration of the project.
Advisor Mohammed Abdulwahab, CEO of the General Authority for investment and free zones, explained
The adoption of these controls comes in line with the investment law by granting residency according to the purpose of the company, the capital, the number of employees and the location of the activity.
Advisor Mohammed Abdulwahab pointed out that these controls would provide greater incentives for serious investments and encourage foreign investors to invest in certain sectors, activities and locations targeted by the Egyptian state for economic development and provide more job opportunities.
The board of Directors of the General Authority for investment and free zones has adopted new regulations to facilitate the residence of foreign investors in Egypt, according to which an investor who is serious about implementing his investment project has the right to obtain a residence permit for a continuous period of five years, renewed for similar periods throughout the duration of the project
These new controls, which are based on the points system, give relative weight to a number of conditions that must be met to grant residency, namely:
- Company purpose 20%
- Paid-up capital 30%
- Number of employees 30%
- Activity practice location 20%
With priority given to investors in renewable energy, heavy industry, pre-university education, healthcare, Petroleum, desalination and other sectors
