Frequently Asked Questions

Can foreign nationals own property in Egypt?

Yes, foreigners can buy properties in Egypt.

Do I need a visa?

You do not need a visa to buy a property, but you must have a visa to live here.

How easy is it to get to Sharm El Sheikh from the UK?

The flight is about 5 hours from the UK to Sharm El Sheikh. Also both charter flights and scheduled flights are now available from several airports across the UK. Including Gatwick, Manchester, Newcastle, Birmingham, Glasgow, Bristol and now Dublin!

Will I need a Solicitor?

It is essential to engage a reputable local solicitor. Pioneer Property can recommend skilled lawyers in the Egyptian Real Estate Market. 5,500 Egyptian Pounds fixed fee includes: Power of Attorney, Residence Visa, Drafting of buy/seller

contract, Return transportation to El Tur City for all government & Court Case procedures, also legal consultation fees.

How long will it take for the registration to be finalized?

The registration will take between 6 – 12 months

How much are the service/arrangement fees when I purchase a property?

1.5% of the purchase price. We do not charge the purchaser when buying in developments owned by Pioneer Property.

How much are the service/arrangement fees when I sell a property?

2.5% of the purchase price.

Can I get mortgage in Egypt?

Currently there are no mortgage facilities available in Egypt for foreign buyers. However Pioneer Property does offer finance credit terms with 0% interest on certain projects.

Will I be able to rent out my property?

Yes. The Pioneer Property rental team will visit your property. They will look at the rental market at the time and recommend a monthly rental return for you.

What is the local currency?

The local currency is Egyptian Pound EGP, also known locally as LE.

Will I need an Egyptian bank account?

You do not need an Egyptian bank account when you are buying a property, but it will be useful at a later stage if you choose to rent out your property.

Are there any maintenance costs involved?

Yes. The cost of maintenance varies depending on the property and services offered. (Full details on maintenance services are provided by Pioneer.)

What is the Capital Gains Tax situation?

There is no Capital Gains Tax or Inheritance tax to be paid in Egypt.

Where can I find more information on Egypt?

www.egypt.embassy.uk.com/

Embassy of Egypt

26 South Street, London W1K 1DW

Tel.: +44 20 74993304/2401

www.britishembassy.gov.uk/egypt

British Embassy, Cairo

7 Ahmed Rageb Street

Garden City, Cairo

Tel.: +20 2 7940852