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Are you interested in the property for sale in Egypt? Read more. Photo by Cristian Bagnarello from Pexels. Foreigners seeking real estate investment prospects are drawn to Egypt by its magnificent monuments, rich cultural past, and hospitable people. That is the purpose of this guide: to assist you in getting acquainted with the best and one-of-a-kind global property finder! In this simple and easy-to-understand guide, we will show you everything you need to know about the Egyptian real estate market while sitting in UAE. To assist you in understanding the procedure and criteria, below is a complete guide. Real estate in Egypt may be purchased by foreigners, subject to certain regulations. Foreigners are typically barred from buying agricultural land in Egypt. Egyptian real estate offers a wide variety of residential and commercial properties to foreign customers. Regarding the nature of property, local law imposes almost no limits. The primary regulation is that foreign nationals do not have the legal right to own real estate over four thousand square meters in size. In addition, no one may possess more than two units. Egypt requires government involvement in property purchases. After selecting a property for sale in Egypt, the Council of Ministers must approve. Foreigners purchasing real estate in Egypt are not required to meet any particular minimum investment criteria. Buying property in Egypt from afar is no easy feat. A taukil and a sales contract are the two pieces of evidence required by law in this jurisdiction to establish ownership. A buyer must contract with an intermediary, such as an agency, to finalize a distant transaction. The data of a legal entity may be included in this document so that funds can be transferred via a bank. The following are the primary measures to consider before buying a place to verify its legitimacy and quality:. Photo by Tamer Soliman from Pexels. Booking a property, negotiating a preliminary contract, and finally, buying and registering the property are the three steps that make up the Egyptian real estate acquisition process. The first step for foreigners purchasing a property in Egypt is to finalize a preliminary contract. The intermediary business will also hold onto the deposit until the deal is formally registered. The purchaser needs a building construction permit, an authorized project, and a land title if the property for sale in Egypt being purchased is principal real estate. It is customary for sellers to provide buyers with historically genuine title documents and a taukil when doing business on the secondary market. Obtaining Egyptian real estate as a foreigner or real estate companies in Dubai requires a passport. The buyer and seller enter into a sales contract if the buyer makes a deposit. A signature is required on each page of the contract. You may pay for the property in cash or by transferring funds to the bank accounts of the agency or the seller. The parties agree on a payment schedule when purchasing new structures. As work progresses on a structure, the buyer makes payments. Upon completion of construction and property operation, the last payment is made. In primary market deals, a taukil is granted when the buyer pays the entire purchase price, and the developer begins construction. Buyers may own and utilize their properties as they choose using this agreement. Notarization and Arabic writing are prerequisites. In Egypt, a series of official documents is often required to register real estate with the Real Estate Registry formally. The specific paperwork needed could change from one real estate transaction type to another and from one situation to another. Typically, the necessary official papers consist of the following:. In Egypt, the price of a transaction includes not only the cost of the property itself but also the expenses associated with legal representation, notarial services, real estate agent, registration fees, and taxes. The buyer must account for the following costs before finalizing the deal:. Photo by Asma Gamal from Pexels. To complete a property purchase in Egypt, it is sometimes necessary to retain the services of a local real estate agent who is familiar with the local legal requirements. The transaction Contract, which specifies the transaction parameters and is a legally enforceable agreement between the vendor and the purchaser, is an important document they can help with. To confirm the title and find any possible legal problems or encumbrances, the Egyptian real estate agent may also assist with a Property Title Search. On top of that, they can help you get all the permissions and licenses you need, including those from the local government. Correct and proper payment of all taxes and fees, including the Property Transfer Tax and Notary Fees, as required by Egyptian law, will be ensured by them. However, there are many modern alternatives for real estate agents when you need to buy property in Egypt, such as PayMeHere. There is always a risk of transferring payments when buying overseas. The same is true for property for sale in Egypt. Moreover, finding reliable and authentic properties to buy is also an issue. With the help of PayMeHere , a unique global property finder, you can rest easy on this worry. Get your hands on the top-class real estate market with ease of payment without hefty exchange rates and other issues. Please enter your username or email address. You will receive a link to create a new password via email. WhatsApp us. Contact us. Photo by Cristian Bagnarello from Pexels Foreigners seeking real estate investment prospects are drawn to Egypt by its magnificent monuments, rich cultural past, and hospitable people. How Is the Government Involved? Things To Consider Before Buying A Unit In Egypt The following are the primary measures to consider before buying a place to verify its legitimacy and quality: Before you can pick the best unit for your needs, you need to look at a multiple options. Verify that all essential services, including power, water, sewerage, and landline phone lines, are available. Verify that a competent authority issues construction licenses and that the acquired unit does not infringe on state property. To prevent the property from being subject to any future removal orders, it is important to confirm the number of approved floors in the case of apartment buildings. Verify if a policy is in place to maintain the property over time. Figure out extra expenses like insurance, taxes, monthly maintenance fees, and utilities. You can do this by looking at their completed projects and making sure they are of high quality. Steps of Purchasing Property in Egypt Photo by Tamer Soliman from Pexels Booking a property, negotiating a preliminary contract, and finally, buying and registering the property are the three steps that make up the Egyptian real estate acquisition process. This preliminary agreement must include the following provisions: The names Contact information Passport numbers of all parties involved in the transaction The total price of the property for sale in Egypt The amount to be paid in installments Any other terms and conditions, such as the date by which the property must be put into operation Any necessary quality assurance procedures. Final Contract and Buying The Property The buyer and seller enter into a sales contract if the buyer makes a deposit. Here are the key points to include in the primary contract: Data about the individuals involved in the deal, such as their passport numbers, email addresses, and bank account numbers Data about the property itself, such as its location, square footage, number of rooms, etc. Registration Process In primary market deals, a taukil is granted when the buyer pays the entire purchase price, and the developer begins construction. Typically, the necessary official papers consist of the following: A document confirming payment of the applicable taxes in compliance with local regulations. Individual identity cards for each participant. The municipal register must be contacted to get a duplicate of the receipt for the payment of the property registration fee. Additional documents: A title deed contract An initial sales contract A building license in the case of contemporary properties Completing all relevant real estate registration processes, including issuing identity statements, change forms, fees, and the like. Property Taxes in Egypt In Egypt, the price of a transaction includes not only the cost of the property itself but also the expenses associated with legal representation, notarial services, real estate agent, registration fees, and taxes. The buyer must account for the following costs before finalizing the deal: Registration with the local real estate department is a necessary step in completing the transfer of ownership. The Egyptian government recently changed the registration cost such that it is now proportional to the square footage of the property for sale in Egypt. A transfer tax of 2. Capital gains tax is considered a transaction cost since it is a tax on gross earnings. It amounts to 2. Photo by Asma Gamal from Pexels To complete a property purchase in Egypt, it is sometimes necessary to retain the services of a local real estate agent who is familiar with the local legal requirements. Bottom Line There is always a risk of transferring payments when buying overseas. Related posts. Finding a property can be hard. With PayMeHere, you can readily find your dream place and start Continue reading. Compare listings. Login Register. Remember me Lost your password? Please insert your mobile number with the country code. Select your account type Broker Developer Individual.