Foreign investors can now get one-year residence in Egypt

CAIRO – 21 May 2023: The Interior Ministry released a decision on Saturday to grant foreign investors wishing to carry out business in Egypt a one-year residence. This residence can be renewed for six months or a year through the General Authority for Investment and Free Zones (GAFI) depending on how much it takes to kickstart the business.

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

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

The Egyptian government has been taking strides in order to improve the business conditions in Egypt and make it more favorable for both foreign and local investors. The government last week announced 22 decisions designed to attract foreign currency and speed up the process of establishing new companies.