{"id":598876,"date":"2019-06-11T04:00:21","date_gmt":"2019-06-11T04:00:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/11\/house-committee-approves-legislation-allowing-foreign-asset-holders-to-apply-for-egyptian-citizenship\/"},"modified":"2019-06-11T04:00:21","modified_gmt":"2019-06-11T04:00:21","slug":"house-committee-approves-legislation-allowing-foreign-asset-holders-to-apply-for-egyptian-citizenship","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/11\/house-committee-approves-legislation-allowing-foreign-asset-holders-to-apply-for-egyptian-citizenship\/","title":{"rendered":"House committee approves legislation allowing foreign asset holders to apply for Egyptian citizenship"},"content":{"rendered":"

LEGISLATION WATCH- Legislative amendments that would allow foreign asset holders to apply for Egyptian citizenship <\/b>have received committee-level approval at the House of Representatives, according to Egypt Today<\/a>. Prospective applicants would have to have bought a state-owned or private property, set up a project in accordance with the Investment Act, or deposited hard currency. Applications would cost around USD 10,000 or the equivalent in EGP. An authority comprised of foreign, investment, and interior ministry officials would be set up to consider applications. The amendments will now be up for a final general assembly vote. If passed, they need signoff from President Abdel Fattah El Sisi and then would become real only when the executive regulations governing them are published.<\/p>\n

Also on the legislative agenda: <\/b>A proposal to set up a new pharma regulator<\/a> was discussed in the House yesterday at committee level, according to local press reports. It is unclear whether the new watchdog would replace the existing regulator<\/a> \u2014 which operates under the auspices of the Health Ministry \u2014 or establish an entity separate from the ministry altogether.<\/p>\n

Expect more activity from the legislature in the coming days<\/b> as MPs prepare for the summer recess.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- Legislative amendments that would allow foreign asset holders to apply for Egyptian citizenship have received committee-level approval at the House of Representatives, according to Egypt Today. Prospective applicants would have to have bought a state-owned or private property, set up a project in accordance with the Investment Act, or deposited hard currency. Applications […]<\/p>\n","protected":false},"author":1,"featured_media":598877,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,1786,125,180,83,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-598876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-foreign-affairs","tag-investment-watch","tag-legislation","tag-real-estate","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"fc27fbb6-53a4-4b75-be23-ce4a7fb5476a","is_powered_by":true,"section_story_id":"b0a0a137-232b-43b4-b7b7-7bf380fa1541","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/662.jpg","photo_position":"above","related_issue":[598860],"teaser":"","voice_url":""},"yoast_head":"\nHouse committee approves legislation allowing foreign asset holders to apply for Egyptian citizenship - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/11\/house-committee-approves-legislation-allowing-foreign-asset-holders-to-apply-for-egyptian-citizenship\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House committee approves legislation allowing foreign asset holders to apply for Egyptian citizenship\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- Legislative amendments that would allow foreign asset holders to apply for Egyptian citizenship have received committee-level approval at the House of Representatives, according to Egypt Today. 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Amendments to the Investment Act that aim to extend incentives to\u00a0existing projects got a final nod at the House general assembly\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/662.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":585274,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/13\/house-gives-preliminary-nod-to-nationality-law-changes\/","url_meta":{"origin":598876,"position":1},"title":"House gives preliminary nod to nationality law changes","author":"enterpriseam admin","date":"13 April 2023","format":false,"excerpt":"The amendments would make it easier for foreigners to become citizens","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/579.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591618,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/11\/foreigners-can-now-buy-citizenship-for-usd-250k\/","url_meta":{"origin":598876,"position":2},"title":"Foreigners can now buy citizenship for USD 250k","author":"enterpriseam admin","date":"11 December 2019","format":false,"excerpt":"CABINET WATCH- Foreigners can now acquire Egyptian citizenship for as little as USD 250k: The Madbouly Cabinet approved in its weekly meeting yesterday legislative amendments that will allow foreigners who hold assets in Egypt to buy citizenship, according to a statement. The cost of citizenship ranges between USD 250k-USD 1\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/8\/920.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593015,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/14\/egypt-passes-investment-act-exec-regs-amendments-to-collect-data-on-foreign-investment\/","url_meta":{"origin":598876,"position":3},"title":"Egypt passes Investment Act exec regs amendments to collect data on foreign investment","author":"enterpriseam admin","date":"14 November 2019","format":false,"excerpt":"LEGISLATION WATCH- Investment Act amendments require public, private entities to submit data on foreign investment assets to GAFI: Prime Minister Moustafa Madbouly signed off on amendments to the Investment Act\u2019s executive regulations that would require public and private entities to submit quarterly reports to the General Authority for Freezones and\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598086,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/14\/egypts-investment-act-amendments-get-committee-level-approval\/","url_meta":{"origin":598876,"position":4},"title":"Egypt\u2019s Investment Act amendments get committee-level approval","author":"enterpriseam admin","date":"14 May 2019","format":false,"excerpt":"LEGISLATION WATCH- Companies looking to do follow-on investment could qualify for the same incentives as a new project: The House Economic Committee has greenlit amendments to the Investment Act approved by cabinet in March, Investment Minister Sahar Nasr said, according to Al Masry Al Youm. The changes would add a\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575118,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/04\/foreign-investors-will-soon-be-able-to-apply-for-five-year-renewable-residence-permits\/","url_meta":{"origin":598876,"position":5},"title":"Foreign investors will soon be able to apply for five-year renewable residence permits","author":"enterpriseam admin","date":"4 October 2020","format":false,"excerpt":"INVESTMENT WATCH- Foreign investors will soon be able to apply for five-year renewable residence permits under amended regulations from the General Authority for Investment and Free Zones (GAFI). The permits will be issued using a points-based system that gives weight to \u201cthe project\u2019s scope of activities (20%), the amount of\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/598876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=598876"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/598876\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/598860"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/598877"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=598876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=598876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=598876"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=598876"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=598876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}