By virtue of Law No. 72 of 2017, investors are guaranteed, whether Egyptian or foreign, to transfer project’s funds abroad, whether it is profits or liquidation. This is a guarantee is imposed by the power of law and cannot be reversed.
The Egyptian government guarantees to allow the investor to transfer the project’s funds in the currency determined by the investor to any country abroad according to Article 6 of the Investment Law No. 72 of 2017.
An overview of the advantages of the New Egyptian Investment Law
Investment Law No. 72 of 2017 was issued on 31/5/2017. The law applies to every person who establishes a company after the date of issuing this law if the company is working in one of the mentioned fields stipulated in the regulations of this law, which include the sectors of industry, agriculture, animal production, fish, poultry, domestic trade, education, health, transport, land, Tourism, housing, construction, sports, electricity, petroleum, natural resources, water.
When will the Egyptian government refund to the investor (50%) of the costs of his project?
An investor whose project is in the areas most in need of development in Egypt which is defined by the investment map that is called Sector (A), According to Article (11) of the Investment Law No. 72 of 2017, the Egyptian Government shall refund the investor (50%) of his investment cost unlimited as a form of a tax deduction. which benefits all investors with small, medium and large enterprises.
When will the Egyptian government refund the investor (30%) of the costs of his project?
The investor whose project is in the areas in need of development in Egypt which is defined by the investment map that is called Sector (B), According to Article (11) of the Investment Law No. 72 of 2017, the Egyptian Government shall refund the investor (30%) of the value of its investment costs without a maximum in the form of tax deduction which benefits all investors with small, medium and large enterprises.
. The New Investment Law No. 72 of 2017 grants the foreign investor residency in Egypt throughout the duration of the project in accordance with article (3) of the aforementioned law which provided that the investor is a founder, partner or shareholder in a company or owner of the establishment as long as the project is ongoing .
In the period of the project’s liquidation or the expiry of its term, the residency term shall end and the duration of residency shall be one year and then renewed, in case the project is proved to be serious, for other periods not exceeding five years .