DUBAIWATER, February 2, 2022 /PRNewswire/ — Every few years, a new country or region emerges as a great market for citizenship and residency by investment (RCBI). Whether due to political instability, economic turmoil, declining quality of life, increased taxes, or a mixture of the above and more, the tendency to get the RCBI goes up. suddenly skyrocketing, and that’s what’s happening right now in Egypt.
For a country to be considered an emerging RCBI market, it must tick three boxes:
- Availability of wealth
- Need for investment migration
- The ability of clients to apply for different RCBI programs.
A land of abundance
Egypt vast natural and human resources have made it a land of wealth since the dawn of time; it has always been one of the most economically active regions in the world since the Old Kingdom, as part of the Roman Empire, and until today, when it is considered a major commercial center in the region MENA.
Egypt GDP has maintained steady growth in recent years, growing at an average annual rate of about 4.75% in the last decade. And although the Egyptian pound (EGP) took a hit – as one usd you would have had 6 EGPs ten years ago, but now you’re about 16 EGP – the country still has a large number of high net worth individuals (HNWI) within its borders.
Knight Frank even found that the number of HNWIs in Egypt increased by 10% between 2019-2020. This mark one of the highest HNWI growth rates over the period globally.
The numbers speak for themselves, and in terms of available wealth, Egypt surpasses.
The need for change
According to last censusThere were about 9.5 million Egyptian expats around the world. This is a tenth of the total population of the country.
Egyptians are not shy about immigration; the country is well known for its educational prowess, talented workforce, and innovative entrepreneurs, and people know that with their skills, they can find better opportunities elsewhere.
The need to Residency and citizenship by investment programs occurs when several factors coincide, starting with limited mobility. The Egyptian passport ranks 97th in the world, offering visa-free access to just 51 destinations, none of which is a hotspot like the EU, Singaporethe UKor otherwise.
Therefore, the need for increased global mobility is present. But this is not the only factor.
Egypt faced a turbulent decade where political instability hit the country hard. And although he is currently on a stable boat, the effects of the turbulence still linger. Global bank transfers, for example, are not as transparent as one would hope, political tensions with nations such as Turkey remain evident and poverty rates stay up.
Access to RCBI Services
The last box Egypt must tick to become an emerging RCBI market is its accessibility to RCBI services.
Egyptians will be happy to know that it is quite easy to find RCBI services and the RCBI program that suits their individual needs. The country is not on any sanctions list and its investors can move money outside the country to make the investments needed to obtain citizenship or residency by investment.
Second, because it is considered a safe nation, its nationals are eligible for all RCBI programs, unlike Iranians, for example, who are not eligible for some of these programs.
And finally, finding a service provider is a lot easier than they think, because Sale & Partners has been serving the Egyptian market remotely for years. We understand the functioning of the Egyptian market and we understand the needs and objectives of our Egyptian clientele. So all you need to do to start your RCBI journey is contact us today to book a free, comprehensive consultation.
Sale & Partners is an accredited agent for several governments where citizenship by investment is offered. Founded in 1797, the agency has grown from pharmaceuticals to family assets and inheritance protection to second citizenship and residency. The firm’s professional, multinational staff is made up of expert advisors who have guided thousands of clients, including many North African investors, on their journey to find the most suitable CBI program for them. The Savory & Partners team will be happy to answer your requests in English, Arabic and French.
For more information, please send an e-mail to [email protected]. You can also call +971 04 430 1717 or send a WhatsApp message to +971 54 440 2955.
SOURCE Savory & Partners