Egypt grants new foreign investors one year residence

The Egyptian Council of Ministers agreed on Wednesday to grant new foreign investors a one year stay in the country.

The decision was made to grant foreign investors found in the General Authority for Investment and Free Zones a one-year temporary stay for “non-tourism”, which can be renewed for six months or a year.

The stay will be granted for the establishment period of the companies and economic entities and until all procedures related to the establishment are completed.