Egypt launched a citizenship by investment programme, granting citizenship for investments of $250,000 within 6-9 months, said Sherif Samy, deputy executive director of citizenship applications office. During the second edition of the Global Citizen Week conference held in Cairo, Samy highlighted the programme which was established three years ago, allowing foreign nationals to obtain citizenship through four investment options. * Real estate investment: Investors can acquire property valued at a minimum of $300,000, including land for industrial projects, stores, or residential apartments. * Business investment: This option requires establishing a new investment project with a minimum capital of $450,000, with a $350,000 share and a $100,000 contribution to the state treasury. * Cash deposit: Investors can deposit $500,000 in the Central Bank of Egypt for three years (withdrawn in Egyptian pounds without interest). * Direct grant: For those not interested in initiating investment projects, a $250,000 non-refundable contribution directly to the central bank supports national projects and expedites citizenship. Samy pointed to the recent structural reforms undertaken by the Egyptian government, aimed at creating a more favourable environment for private sector businesses. Investors are also drawn to Egypt's strategic location, providing access to a vast African market with over 1.5 billion consumers, including Egypt's own thriving domestic market of 100 million. Furthermore, Samy highlighted the appeal of real estate investment in Egypt, citing the emergence of new cities such as the Administrative Capital and New Alamein, offering investors a variety of opportunities. Investors can now benefit from the strong infrastructure of the transport network, the energy network, and the advanced logistics services at airports and ports, Samy further noted. This robust infrastructure ensures efficient operations and overcomes logistical hurdles for businesses. The Global Citizen Week Conference's second edition is taking place in Cairo after the success of the first edition in Saigon, Vietnam.
