Egypt to offer citizenship to foreigners for 7 million Egyptian pound deposit


  • World
  • Tuesday, 17 Jul 2018

CAIRO (Reuters) - Egypt is offering citizenship to foreigners who deposit at least 7 million Egyptian pounds (£295,576) and then hand it over to the Treasury after five years, an amendment passed by parliament on Monday said.

Egypt has been looking to boost its finances and draw back foreign investment that fled the country after its 2011 uprising, notably through a series of tough reforms tied to a $12 billion (£9 billion) IMF loan programme it began in late 2016.

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