Egypt is offering citizenship to foreigners who deposit at least 7 million pounds
Cairo … News time
New Code of Conduct was issued for the arrival of foreigners Egypt’s citizenship in Egypt, the Egyptian Parliament approved the law, the Egyptian population can get Egypt’s citizenship for a bank deposit of 70 million Egyptian pounds, there are no sums affecting national security. According to international sources, the Egyptian Parliament has initially approved a new constitutional bill in which foreigners have been appointed a new code of conduct for the arrival, establishment and acquisition of Egypt’s citizenship in Egypt. After the bill approved in Parliament, a foreign bank can get Egyptian citizenship in exchange for a bank deposit of 70 million Egyptian pounds.
The new law has been clarified that the applicant for Egyptian citizenship is already in Egypt and they should deposit at least 7 million pounds or equivalent equity in a bank for 5 years. After initial approval in Parliament, Speaker has finalized the vote on the law for the final approval till the next session. In the meeting on last day, there could not be an overview of the bill in support of the bill.
Major General Kamal Amer, chairman of the National Security Committee’s Defense and Parliament, commented on this bill the bill to bring citizenship to the foreigners is in the wider interest of the country and the nation. There are no sums affecting national security in this bill. After the approval of this law, investment in Arab countries and globally will be encouraged in Egypt. On the other hand, Member Parliament Lawmaker Haitham el-Hariri said he had written in writing to the speaker that they reject the new bill of citizenship.
