Interior Ministry grants foreign investors one-year residence

CAIRO - 20 May 2023: The Interior Ministry announced on Saturday a decision to grant foreign investors wishing to do business in Egypt a one-year residence (not for a tourism purpose), which can be renewed for six months or a year through the General Authority for Investment and Free Zones (GAFI).

Such residence will be granted to the investors while establishing their companies and economic entities in the country, added the ministry in a statement.

The move is part of efforts aimed at facilitating procedures regarding the fulfillment of investment projects, in addition to attracting more foreign investments to the country, according to it.