How to Buy Our Properties

Property in Egypt can be purchased by any individual. Foreigners are allowed to buy any type of properties in Egypt including, apartments, houses, land, hotels or shops. For the property transaction to take place, it is sufficient to have a passport. Keep in mind however that buying property in Sharm el-Sheikh is governed by different rules. Thus, non-residents can not obtain a freehold possession in Sharm-El-Sheikh and the only possible option is to acquire a long-term lease for 99 years. You must then go through the procedure of obtaining “‘signature validity court verdict."

This must be done if you:

The certificate is also used by buyers who are looking to buy outside of Sharm-el-Sheikh too as it helps buy as many properties as desired and also helps in renting and selling.

To obtain the "verdict" it is necessary to take the following steps:

    • Get a "negative" certification for the property from the government stating that there are no debts, mortgages or other property rights assigned to third parties for the property being purchased.
    • Obtain a certificate from tax authorities with an indication of taxes to be applied to the property.
    • Draw up a contract of sale / transfer of rights of use ("usufruct"). The contract should mention borders of the property, the transaction price, the method of acquisition of rights from a previous owner, a payment method. The contract must be in Arabic, because this is the only language recognized by the court. The buyer sends his lawyer power of attorney, so he could represent his interests. This requires the purchaser to first obtain a multi entry visa. Attorney makes a formal request for the verdict on the recognition of valid signatures to ensure that the signature belongs to the seller. This can take up to six to eight months.

     

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