Advice on buying Egypt Property

You have found an Egypt property you wish to purchase in Egypt what next?

Buying Property in Egypt - Costs of Purchasing Egypt Property

Egypt Property Buyer's Guide explains the legal fees, legal procedures, purchase taxes and mortgage procedure.

Egypt enjoys a strategic position at the crossroads of Europe, Africa and Asia and bound on two sides by the Mediterranean and the Red sea.

Egypt with many of the world's greatest treasures is an historians dream, with the Pyramids and Sphinx at Giza, Valley of the Kings, and Karnak temple near Luxor, it is no wonder that Egypt attracts millions of tourist's each year.

Many tourists enjoy the Egypt experience so much that they want to purchase either a holiday home or permanent residence in Egypt.

Hurghada, Egypt, with it's four golf courses, and Sharm el Sheikh, the world's 4th most popular tourist destination and renowned throughout the world for its diving facilities, make Egypt a really must see destination and all this only 5 hours away from most European cities.

Foreigners are allowed to purchase property in Egypt but are limited to only 2 real estate properties, and the area of each property should not be in excess of four thousand square meters.

As all legal contracts are in Arabic with English only being used as guidance, NEVER sign a contract that is written in English or any other language when it comes to property purchase as you will put yourself in a serious risk position.

You will be asked to issue your solicitor / lawyer in Egypt a power of attorney which is obtained from the notary office in Egypt for him to act on your behalf when authenticating the property sale contract with the Egypt courts.

To enable you to give your lawyer in Egypt this power you must yourself obtain a multi entry visa from El Tur city which is located not far from Sharm el Sheikh. Your Egypt property agent will be able to assist you with this.

Your lawyer will now obtain a "Negative" certificate stamped with the official stamp for the property you wish to purchase from the government stating that there are no mortgages or debts on the property. Also a certificate from the Egyptian tax authorities determining the exact taxes due on this property.

Egyptian Property Taxes vary upon usage, if you want the property in Egypt just for yourself, the property taxes will be less than if you were purchasing property to rent out, here it is best to let your lawyer handle the tax issue.

Registration of the property is done in the notary office, to register your Egypt property sale contract as a deed and a proof of ownership. This must be done as foreigners are not granted the "freehold" (and in Sharm el Sheikh neither are Egyptian nationals) of their property. What you have is a "Usuruct" which broadly speaking is a fully legal leasehold contract.

There is a fee of 3% of the Egypt property purchase price for notarising your sale contract.

These are the simple imperative steps to purchase property in the region of Sharm el Sheikh, Egypt and are for guidance only.

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These guidelines are meant for guidance only and describe a straightforward purchase scenario. However this information is not meant to replace proper legal advice, which we always insist you take.

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