Foreigners Now can Get the Egyptian Citizenship and Here’s How!
On Sunday, Egypt’s house of representatives approved a bill that will grant the Egyptian nationality to foreign residents if only they follow this one rule.
According to Egypt Independent, the rule, as was stated by MP Kamal Amer, is that the person who’s seeking to have the citizenship should make a bank deposit of EGP 7 mn over the period of 5 years.
Granting nationality in this way is commonly referred to as citizenship by investment. If you would like to learn more about how citizenship by investment schemes work, then take a look at this guide to Dominica citizenship by investment in real estate.
MP Kamal Amer pointed out that the cash deposit in foreign currency is merely a regulation of the procedures for residency, and added that it is an indirect investment that would encourage further investment projects in Egypt, According to Egyptian Streets.
