Invest in Egypt (2024)

FAQs

Invest in Egypt? ›

Now is a great time to invest in Egypt. Sound reforms, public initiatives, and an educated and healthy labor force as well as plenty of natural resources have helped Egypt become a prime destination for global companies and investments.

Now is a great time to invest in Egypt. Sound reforms, public initiatives, and an educated and healthy labor force as well as plenty of natural resources have helped Egypt become a prime destination for global companies and investments.

One of Egypt's most vibrant economic sectors is the oil and gas one. This industry in Egypt is expected a CAGR of about 8% between 2019 and 2027. Hence, it's a great area of investment as well.

The UK is by far the largest investor in Egypt, followed by Belgium, the USA and the UAE. FDI is concentrated in the oil and gas industry (around three-quarters of total investments), followed by financial services, manufacturing, real estate and construction.

Investing in Egypt includes significant risks, such as political instability in the region and a lack of diversity in the economy.

At the current exchange rate, $100 US dollars is equivalent to approximately 1,755. 50 Egyptian pounds. This rate can be subject to change, however, and therefore the amount may vary.

Without a doubt, Zamalek is considered to be the best area to stay in Cairo according to any tourist. It is home to the expats and wealthy and has a prestigious reputation. Location: Zamalek has a very central location, it is considered an Island in the heart of Cairo's Nile River, between downtown Cairo and Giza.

If your family's average spending is LE60. 7 thousand per annum, slightly more than LE5,000 per month, then you belong to richest 10 per cent of Egyptian families.

Egypt's economy relies mainly on agriculture, media, petroleum imports, natural gas, and tourism.

Why Egypt is the best country to invest? ›

Egypt has many advantages as an investment destination: geo-strategic location, land availability, solar and wind power capacity, skilled human capital, as well as a big domestic market. It can easily serve as a manufacturing hub for Africa and the MENA region. These are the tangible assets.

Can I access my account while I travel overseas? You can access your Robinhood account in almost all countries, with the exception of Cuba, Iran, North Korea, Syria, and the Crimea region of Ukraine.

Stock market return, percent

The latest value from 2021 is -2.3 percent.

Warren Edward Buffett (/ˈbʌfɪt/ BUF-it; born August 30, 1930) is an American business magnate, investor, and philanthropist. He is currently the chairman and CEO of Berkshire Hathaway.

It's always advisable to bring money in a variety of forms on a vacation: a mix of cash, credit cards, and traveler's checks. American and Canadian dollars, pounds sterling, and euros are all easily exchanged in Egypt, and Cairo International Airport has a number of 24-hour banks that give the same rates as in town.

Egypt is a land rich in gold, and ancient miners employing traditional methods were thorough in their exploitation of economically feasible sources. In addition to the resources of the Eastern Desert, Egypt had access to the riches of Nubia, which is reflected in its ancient name, nbw (the Egyptian word for gold).

Egypt became wealthy through farming and trade. Its power was built up by strong governments, led by PHARAOHS and staffed by well-trained scribes (officials). The nation was defended by huge armies.

US dollars are widely accepted in major tourist establishments, hotels, and souvenir shops. There are no restrictions on the amount of foreign currency or travelers cheques which may be brought into the country. However, passengers entering Egypt with Egyptian currency exceeding 1000 USD must declare this on arrival.

How much US dollars can I bring in Egypt? ›

A maximum of E£5,000 can be brought into or taken out of Egypt. You must declare any amount of currency equivalent to US$10,000 or more. Traveller's cheques and foreign currency are easily exchanged in hotels and banks.

Unlike many countries where you spend almost one quarter of your monthly income on bills, Egypt is far affordable. If you want to live in a well furnished studio of about 480 ft², one would only need to spend about EGP 3,867 ($217) in an expensive area on average and EGP 1,651 ($92) in a regular area.

Expats in Egypt mainly settle in the major cities. Cairo is the favored destination, with ideal neighborhoods including Maadi, Downtown Cairo, Zamalek, Dokki and New Cairo. Employers often place a housing allowance in contracts, assisting in setting up their employees.

About 90% of Egypt's population lives along the Nile River, with the waterway providing nearly all Egyptians with drinking water.

The upper class consisted of the royal family, rich landowners, government officials, important priests and army officers, and doctors. The middle class was made up chiefly of merchants, manufacturers, and artisans.

With 37,800 people worth about $1 million, South Africa has the highest number of dollar millionaires on the continent, ahead of Egypt (16,100), Nigeria (9,800), Kenya (7,700), and Morocco (5,800). In terms of billionaires, Egypt ranks first with 8 individuals worth $1 billion or more.

This year, most middle class to upper class citizens can expect to make EGP 4,000 to 7,000 (US$ 235 – 411) as a monthly income, mostly in the private sector. Government employees can still average EGP 2,000 to 9,000 (US$ 117 – 529) depending on position.

A recent poll conducted by Expat Forum on behalf of Barclays Wealth International found out that Employment (42.31%) is main reason for those of you choosing Egypt as your expat destination.

Salary range

The average salary in Egypt ranges from 2,330 EGP per month (USD 77) to 41,100 EGP (USD 1,355) per month — with 2,330 EGP being the lowest average salary and 41,100 EGP being the maximum salary (actual maximum salary is higher).

What does Egypt sell the most? ›

Its most important exports include petroleum and petroleum products, followed by raw cotton, cotton yarn, and textiles. Raw materials, mineral and chemical products, and capital goods are also exported. Among agricultural exports are rice, onions, garlic, and citrus fruit.

United States has a GDP per capita of $60,200 as of 2020, while in Egypt, the GDP per capita is $12,000 as of 2020. In United States, 3.9% of adults are unemployed as of 2018. In Egypt, that number is 7.9% as of 2019. In United States, 15.1% live below the poverty line as of 2010.

Egypt ranked 114 out of 190 economies in the final World Bank's Ease of Doing Business report, published in 2019, rising 14 places from two years previously. Egypt's rank in the World Economic Forum's latest Global Competitiveness Report was 93 out of 140, up from 100 two years earlier.

The government has stepped up security measures, which have improved personal safety and ensured that Egypt's crime rate is now relatively low. This welcome development has greatly improved Egypt's international profile as a safe and appealing destination for both business travellers and tourists.

There is no citizenship requirement for owning stocks of American companies. While U.S. investment securities are regulated by U.S. law, there are no specific provisions that forbid individuals who are not citizens of the U.S. from participating in the U.S. stock market.

Buying shares from American companies is not restricted to US citizens, so you may buy US Stocks from Egypt. However, you must check how investing in them will affect your local tax position.

And the answer is yes. According to Law No 88/2003, holding and trading foreign currencies is legal in Egypt, and all forex transactions are regulated by the Central Bank of Egypt (CBE).

Egypt External Debt reached 162.9 USD bn in Dec 2022, compared with 155.0 USD bn in the previous quarter. Egypt External Debt: USD mn data is updated quarterly, available from Jun 1997 to Dec 2022. The data reached an all-time high of 162.9 USD bn in Dec 2022 and a record low of 26.1 USD bn in Mar 2001.

Individuals are required to submit an annual tax return to the tax authorities. The submission deadline for an individual is on or before 31 March following the end of the fiscal year to which the return relates. Tax on employment income is withheld at source on a monthly basis.

Switzerland. Switzerland is one of the best countries to invest in. It has one of the lowest federal corporate tax rates in the world, at 8.5%, allowing businesses to save a significant amount of money on their profits.

What are the top American companies in Egypt? ›

American firms are active in most economic sectors in Egypt, primarily in oil and gas exploration and production (E&P), with Apache Corporation, Chevron Corporation, ExxonMobil, Halliburton and IPR Energy Group operating in the market.

ICT industry is known to be the fastest growing sector in Egypt. The sector hit new heights, recording a growth rate of about 16.3%, outpacing all the state's economic sectors during the fiscal year 2021/2022.

Egypt's information and communication technology (ICT) sector is the fastest growing sector in the country's economy, reaching 16.7 percent growth in FY2021/2022 compared to 16.1 percent during the previous fiscal year, according to Minister of ICT Amr Talaat.

Originally built on the site of an old mausoleum, local and foreign merchants have been trading at Khan el-Khalili souk since the 14th century. It is Egypt's most famous market.

Paramount Global (PARA) and Louisiana Pacific (LPX) were new positions in Berkshire's portfolio last year. Buffett first bought Paramount PARA +0.1% in the first quarter of 2022 and Louisiana Pacific in the third quarter of 2022. He's owned Apple since 2016.

Private equity and hedge funds sit adjacent to securities and trading markets. While they aren't the same thing, these two types of investment tools are popular among billionaires. They appeal to people of high net worth who can afford large investments and higher risk.

Being in the center of the world, Egypt is at the crossroads between Europe, Asia and Africa. It is considered as a nearshore location to Europe. Egypt is also in an Eastern European Time (EET) zone. Egypt offers seamless business continuity with the US and Asia (Follow-the-Sun approach).

Is Egypt doing well economically? ›

Outlook. The recent surge in economic activity has set Egypt on track to achieve growth of 5.5% in FY2021/22. However, base effects and the demand overshoot are expected to start tapering off and economic activity will be adversely affected by the repercussions of the war in Ukraine.

The country benefits from political stability; its proximity to Europe, and increased exports. It also enjoys a strong currency. From an investor perspective, Egypt is stable and well-supported by external stakeholders.

Egypt taxes residents' worldwide income at progressive rates ranging from 0% to 25%. (All amounts are given in EGP.) in the table below, you can see current Egyptian income tax rates. Non-residents are taxed at the same progressive rates as residents.

Egypt is a valued U.S. partner in counterterrorism, anti-trafficking, and regional security operations, which advance both U.S. and Egyptian security. The decades-long defense partnership is a pillar for regional stability.

Egypt's economy relies mainly on agriculture, media, petroleum imports, natural gas, and tourism.

Data are in current U.S. dollars. Egypt gdp per capita for 2021 was $3,699, a 8.83% increase from 2020.

External Debt in Egypt averaged 49746.33 USD Million from 1997 until 2022, reaching an all time high of 157801.00 USD Million in the first quarter of 2022 and a record low of 26132.50 USD Million in the first quarter of 2001.

Is Egypt Good Place To Live? You may be wondering “is Egypt a good place to live?”. My answer is yes, it definitely is! If you value a rich culture, beautiful landscapes, and a lower cost of living, then living in Egypt could be perfect for you.