Acquisition of real estate in Egypt

Interest in Egypt as a place for permanent residence, matured for several years. The impetus for the development of this area has served a number of laws adopted by the Egyptian government to encourage foreign investments and guarantees for property rights of real estate to foreigners. Benefits of Egypt: - Location: Up in Moscow and Europe - 4 hours of summer. - Affordability: Low-cost country, and at the same time - quality food and a high level of medical care. - Visa: We pose the airport for $ 15, then it is possible to obtain a resident visa for a period of 2 months for a fee of $ 2. - Climate: Dry and healthy, humidity is 20-23%, whereas, for example, in Europe and Russia - from 60 to 100%. Year-round sunshine. - Sea: Unique Red Sea with clear water and amazing underwater world - Taxes: There are almost no property taxes, but there are government guarantees the inviolability of private property. - Public safety: Crime is virtually absent in the country, except in rare cases - Affordable Housing: In Egypt, the most affordable price for an apartment near the sea, in comparison with other countries. The process of buying property in Egypt Under current law, foreign citizens can buy property and arrange a no more than 2 properties with an area of ​​4 thousand square meters. m. each. Lots more than 10 thousand square meters. meters shall be made to the company you want to register in the country. Step number 1. Getting a visa for engaging in any activities related to the sale, purchase, exchange or lease, you must have resident visa as a tourist visa does not entitle you to perform legal acts in the country. Residence visa is issued for a period of 2 months. Step number 2. The choice of real estate client chooses the property, signed a preliminary sales agreement in Russian, and either pay 10% of the non-return of the deposit of the purchase price, or makes 100% of the lump sum. If you pay the entire cost of the object between the buyer and the seller is a final sale agreement in Russian and Arabic languages, which are certified by a notary in the city court. Step number 3. Register Register a property owned by a notary as possible with the agreement of sale, and having a general power of attorney from the seller. This power of attorney allows the client to perform any operations with the object (to sell, donate, lease). It should be noted that under the laws of Egypt, this simple registration enough to become full owner of the acquired property. Many foreigners are often asked to register a contract of sale in addition to the court of the city. However, such a procedure will cost voluntary payment of registration fee of 3%, and lawyer's fees in the amount of 2-3% of the purchase price. It should be noted that the registration of property in the court of the city can take from 4 months to 1 year. You can also register ownership by placing an object on the record at Companies House, where he was given a registration number. But then the buyer can sell the acquired property only after 5 years. Utility bills and living expenses of each property owner pays only for electricity and for water according to the individual counters. All utility costs for an apartment would cost the owner in an amount not exceeding U.S. $ 50 per month. Maintenance of the house (garbage collection, bill payment, etc.) can do both individually and with the local "dormena" who lives on the ground floor and performs all the tasks of tenants. This service costs about $ 100 per month from all over the house. Taxes for the period of ownership, many Russian companies involved in selling real estate in Egypt, said that taxes in this country do not. However, this is not true, because the property tax for foreigners still exists, but is so small that it simply is not visible. The owner pays approximately 0.13 U.S. dollars per square meter. m. a year. For example, a tax on an area of ​​100 sq ft facility will cost the owner of a $ 13 per year. Mortgage loans and mortgage situation and credit in Egypt is similar to Russian. Mortgage loans are issued by banks to local people and foreigners - residents in the presence of collateral, income statement and other documents requested by the bank. However, this does not mean that a foreign client not be able to take advantage of a mortgage loan when buying property in Egypt. A large number of properties sold, being pledged to the bank or building company, and the future owner buys an apartment together with principal and interest on loans. Do not be afraid of such transactions, as banks have very attractive offers for the price and interest on the loan. To fear of objects that are pledged under arrest, or they have several "unreliable" owners. These options on the market too much of Egypt, so it's best to buy property from the developer directly, or use the services of professional consultants. Company Profile: Distant Property Management - one of the activities of the holding "Miel". Underlying this trend is investment advice on the acquisition and effective use of real estate abroad and in Russia's regions. «DPMR - Investment ratings of foreign real estate" - the expert-analytical system of assessment and analysis of investment attractiveness of potential investments in real estate overseas countries and regions. It is based on an assessment of a combination of factors that affect the investment potential of real estate in this country. Methods of assessment of all countries standardized and reduced to evaluating the investment potential of real estate market and the inherent risks in each particular country. The analysis is based on macroeconomic indicators, but also takes into account the presence of certain current trends and includes expert assessment of real estate market participants. The values ​​obtained ratings apply to the current period and allow the assessment of the situation in real time. If you change the situation, ratings are reviewed and updated to the most rapid period of time. To date, the specialists of "Miel DPM» was analyzed and calculated rating for 8 countries: Bulgaria, Spain, Cyprus, Russia, Turkey, Croatia, France, Latvia.