Guide to buying property in Egypt with J&JA
J&JA Overseas Properties work with UK based developers in Egypt, who have experience across projects in Europe, the Middle East and North Africa. We sell freehold overseas property only in Egypt and guarantee building licences have been granted for each project we promote. These are available for inspection.
Although purchasing an investment property in Egypt does not give you automatic entitlement to a resident's visa it does facilitate the process. Owners need only apply via the standard procedure outlined by the Egyptian Embassy. For further information, contact the Egyptian Embassy on: 020 7499 3304.
Egypt property buyers can decide whether to embark on a viewing trip to Egypt to see first hand the Egyptian properties and sites we promote. Alternatively, you can choose to reserve a property in Egypt before visiting with our help. The procedure is simple.
Once you have chosen your property in Egypt, a reservation fee of £2000 is required. This is refundable for seven days.
Your contract of sale, which is written in the English language will be prepared and sent to you from the developer's UK office. You need to sign and return the contract at the time the initial payment as per the contractual terms is due. As per the reservation fee, this is transferred directly to the developer's UK bank account. Naturally you will be receipted for all money transfers.
You will make the remainder of your payments for your property investment in Egypt as per your contract terms.
The contract steps are as below:
- English language contract between buyer and developer at initial stage
- Dual language contract between buyer and developer on completion for registration
- Completion processed through local solicitor to include registration of ownership
There are virtually no taxes to pay in Egypt on property purchases, e.g.:
- no stamp duty
- no capital gains tax
- no inheritance tax
- no government tax
Plus actual property taxes are far less than those in the UK making Egypt a very attractive destination in which to purchase and own a holiday home.
As usual we recommend that you use the services of a lawyer experienced in the Egyptian conveyancing procedure (we can suggest a couple if you are stuck). The fee set will be between you and your solicitor, but you can expect to pay in the region of around 1 - 1.5% of the property price.
Should you prefer, you can transfer your funds to your solicitor's client’s account, who will onward transfer to the developer once any necessary checks have been made.
Make the first step today. Contact us online for all your overseas investment needs in Egypt or call now 00359 (0) 2 851 0497.
