1. What makes Egypt a good investment for property?
Egypt is a good place to invest in property due to various reasons. Egypt’s swelling tourist industry is an extremely promising opportunity for investors with prices still relatively low, meaning its is the right time to invest to gain maximum returns. It is easily accessible from the UK with flights not too long, 365 days a year sunshine to relax on the fantastic beaches and superb tourist attractions. There is no inheritance tax or capital gains tax and there is an anticipated growth of 20% per annum for the next three years in the property market.
2. How long is the flight to Egypt?
The flight time is around four and a half hours from the UK. There are lots of scheduled flights and easy jet has announced plans to fly to Egypt from April 2008.
3. Are there any restrictions on taking money out of Egypt?
Apart from the normal anti money-laundering there are very few restrictions on moving money in and out of Egypt.
4. Are there any restrictions to buying or selling off-plan property in Egypt?
There are no restrictions in Egypt; you are free to sell the property whenever you wish to.
5. Can overseas investors purchase property with no problems?
Foreign investors are free to buy, sell and own property in Egypt as they choose. In fact the Government in Egypt encourages foreign investors to buy.
6. Is there a house builder’s guarantee scheme in place?
No there is not a scheme in place but the Egyptian Government stipulates that all the builders provide a ten year guarantee as a condition of sale.
7. Do you need a visa for Egypt?
Nationals travelling to Sharm El Sheikh, Dahab, Newiba and Taba resorts only, for up to 14 days do no require a visa prior to travelling; they shall receive a free entry permission stamp upon arrival. If you intend to travel out of the mentioned areas or overstay, you must obtain a visa. Also note that your passport must be valid for at least six months from the date of travelling.
8. What is the time difference?
Egypt is two hours ahead of the UK.
9. Where do the tourists come from?
The tourists come from several different countries, England, USA, Austria, Switzerland, Spain, Germany to name a few and of course Egypt.
10. How long is the rental season in Egypt?
Rental season is all year round.
