acquiring-egyptian-citizenship-through-investment

Law No. 140 of 2019 Regarding Acquiring Egyptian Citizenship Through Investment

In a move reflecting Egypt’s desire to attract foreign investments and strengthen the national economy, Law No. 140 of 2019 was issued to allow foreigners to acquire Egyptian citizenship through investment. This law is part of the government’s efforts to enhance the business environment and encourage international capital to benefit from investment opportunities in Egypt.

1. Overview of Law No. 140 of 2019

Law No. 140 of 2019 was enacted to regulate the granting of Egyptian citizenship to foreigners through financial investment in Egypt. The main goal of this law is to attract foreign direct investment by offering foreigners the opportunity to acquire Egyptian citizenship in exchange for investing in key economic sectors. This law is a part of the government's broader efforts to encourage foreign investments and boost the national economy.

The primary objective of this law is to provide an opportunity for individuals who are capable of investing in the Egyptian economy to acquire Egyptian citizenship as an incentive to increase investments and contribute to development in various vital sectors, such as tourism, real estate, and industry.

2. Basic Conditions and Requirements for Acquiring Citizenship

A. Investment Conditions: Under the law, the foreign investor is required to invest a specified amount of money in Egypt. The amount of investment varies based on the nature of the investment and the sector in which the investment is made. For example:

Real estate investment: The value of the property being invested in must meet a specified minimum value set by the government.
Investment in economic projects: This includes investing in industrial or commercial projects of strategic importance, either through direct investments or by establishing new ventures.

B. Duration of the Investment: The investment must be sustained for a specified period, typically five years or more, ensuring that there is a lasting economic benefit to Egypt.

C. Administrative Requirements:

The investor must register their investment with the General Authority for Investment and Free Zones. Supporting documents, such as financial reports and business activity details, must be provided.
The investor is required to submit a certificate of good conduct from their home country to ensure there are no legal issues in their criminal record.

D. Target Sectors: The law specifies which sectors are eligible for investment that may lead to obtaining citizenship. Priority is given to investments in sectors that directly benefit the Egyptian economy, such as:

Manufacturing industries
Renewable energy
Real estate sector
Technology
Tourism

E. Security Evaluation:

A security check is conducted on the investor to assess any potential risks posed by granting them citizenship. This includes reviewing their background to ensure they do not represent security threats.

3. The Process of Acquiring Citizenship

A. Application and Submission: After meeting all the necessary requirements and submitting the required documents, the investor must submit an official application to the relevant authorities, including the General Authority for Investment and the Investment Monitoring Authority.

B. Granting Citizenship:

Once the submitted applications are reviewed and the requirements are met, approval for granting Egyptian citizenship is given according to the established conditions and regulations. The investor and their family will then be issued new Egyptian passports.
The investor and their family can acquire Egyptian citizenship after fully complying with the investment conditions and providing the required documentation.

C. Benefits of Egyptian Citizenship:

Permanent Residency: Investors who obtain citizenship are granted permanent residency in Egypt without the need to renew visas or residence permits.
International Mobility: Holding an Egyptian passport allows the investor to travel more freely, especially to Arab countries and other nations that do not require a visa for Egyptian passport holders.
Citizenship Rights: Those acquiring Egyptian citizenship enjoy the same rights as Egyptian nationals, such as voting and the ability to run for elections.

4. Types of Investments Eligible for Citizenship

The law specifies certain types of investments that may qualify for Egyptian citizenship:

A. Real Estate Investments: Foreign investors are allowed to acquire citizenship by purchasing real estate in Egypt, provided the value of the property meets the minimum required by the government.

B. Commercial Investments:

Foreigners can obtain citizenship by establishing or participating in commercial or industrial projects in Egypt.
These projects must have significant economic value and contribute to job creation within the country.

C. Investments in Technology:

The government is keen to attract investments in the technology and information sectors, which are key strategic areas that contribute to economic growth and job creation.

5. Strategies for the Success of the Law

If effectively implemented, this law could contribute significantly to:

Increasing Investments: It would enhance the inflow of foreign investments into Egypt, especially in key sectors.
Creating Job Opportunities: The law would encourage the establishment of new businesses, which would contribute to job creation and the development of new industries.
Improving the National Economy: Developing major projects such as renewable energy or real estate development would have a positive impact on Egypt’s economic growth.