Egypt Overhauls Citizenship by Investment Program to Address Backlog and Boost Efficiency

The Egyptian Citizenship by Investment Unit (CIU) has made strides in addressing delays that have plagued the processing of applications since late last year. Between November and June, significant backlogs developed, leaving applicants in limbo. Egypt overhauls CIP to address backlog, with the Egyptian cabinet taking action by increasing the frequency of meetings and accelerating the approval process. This change is welcome news for applicants and stakeholders alike, who can now expect faster results from the program.

Egypt Citizenship by Investment Program Statistics by Deputy Head of the CIU

During Global Citizen Week in Cairo in April, Sherif Samy, Deputy Head of the CIU, announced that the government had received around 1,000 Citizenship by Investment (CBI) applications. That number has since seen a notable increase, with a surge in applications over the past three months. Firms involved in facilitating these citizenship applications have observed a marked uptick, particularly in applicants with strong existing ties to Egypt—such as property owners, business operators, or long-term residents—demonstrating the program’s appeal to those already connected to the country.

Egypt's CIP New Regulations For Property Investment

In response to this growth, the Egyptian government has introduced several amendments to the CBI program. Notably, new regulations now allow collective property investments, provided each individual's share exceeds $300,000. This move is expected to attract more group investments in high-value properties. Additionally, new banking requirements mandate that applicants purchasing private-sector properties must open a personal bank account in Egypt to transfer funds. A new building permit requirement has also been introduced, ensuring that properties used for citizenship applications are fully compliant with local regulations. These adjustments reflect the government’s commitment to improving the CBI program’s transparency and accessibility, setting the stage for further growth in the near future.