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.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

Russian drones injure 6 in Ukraine's Kharkiv, Dnipro regions
NATO drills show it is preparing for potential conflict with Russia, Moscow says
Poland condemns Russian cyberattacks, says has been targeted too
Rwanda denies its troops attacked displaced persons camp in DR Congo
Russian suspected cybercrime kingpin pleads guilty in US, TASS reports
Russia says it shot down four U.S.-made long range missiles over Crimea
After two winsome Ori games, a pivot into dark fantasy
Canada's arrests of three Indian men in Sikh leader's death 'bittersweet,' friend says
NoSpace is Gen Z’s answer to MySpace
Canada police charge three with murder of Sikh leader Nijjar, probe India link

Others Also Read