Tue, 16 Aug 2022 - 02:10 GMT
Tue, 16 Aug 2022 - 02:10 GMT
CAIRO – 16 August 2022: The third edition of the Egyptian Expats Entities Conference is kicking off Tuesday, having as main goal acquainting non-resident Egyptians with ongoing development plans and investment opportunities so they would make effective contributions.
The conference – organized by the Ministry of Immigration and Egyptian Expats Affairs - will be attended by 342 expats representing 45 entities, and will consist of three areas of focus. One is economic, and it is about investment opportunities in banks, real estate, industrial sector, and commerce.
The second is cultural, while the third evolves around services. The former is concerned with the achievements accomplished by the government over the past years. And, the latter basically tackles different types of insurance offered to expats, and judiciary support among others.
The Ministry of Egyptian Expats and Migration announced in June that the number of citizens working abroad who subscribed to the optional life and personal accident insurance amounted to 208,000.
Expats can register themselves on the website of Banque Misr, paying just LE100 per annum. The insurance covers both accidental death and natural death, disbursing LE100,000, covering the costs of the repatriation of the dead body, while the rest is distributed among the heirs.
The age of the subscriber should not be above 65 years, and his relatives must report the death - on the portal, over the phone, or by email - within seven days, providing all the necessary medical documents.
According to previous statements by the ministry, the official number of Egyptian expats is 9.5 million, while the estimated figure is 13 million.
In addition, the Egyptian government introduced in 2021 'traveler insurance' for Egyptians who travel abroad for temporary stays. Hence, an insurance document is issued with each Egyptian passport and should be used within 90 days from departure, the report said.
Twenty-two insurance firms participating in the program will be issuing 3.5 million documents with the aim to protect some 23 million Egyptian overseas travelers at a total cost of about one billion pounds.
This program is meant to provide immediate help for Egyptians harmed in accidents or in cases of medical emergency.
The traveler insurance document should also cover all medical expenses and hospital fees up to €30,000 or the equivalent in other currencies, while the traveler will only provide the first €100 or the equivalent to that sum, according to the report.
It also covers the expenses of ferrying back home bodies of nationals who die while on their trips abroad as well as treatment from coronavirus.
Worth LE300, the traveler insurance document is issued with each new or renewed Egyptian passport for citizens aging more than one month and less than 85 years old. It should be valid until the expiry of the passport.
The traveler insurance program does not cover Egyptians residing or studying abroad, as well as pilgrims and illegal immigrants.
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