17 foreigners granted Egyptian citizenship after fulfilling bank deposit requirements
Source: Ahram Online
Egypt’s Prime Minister Mostafa Madbouly approved Egyptian citizenship to 17 foreigners for bank deposits in Egyptian banks in accordance with the latest amendments passed in 2019 to laws that govern citizenship and residency regulations for foreigners.
According to the decree, Egyptian nationality was granted to a Palestinian, a Briton and 15 Syrians after having met the requirements for bank deposits in Egypt.
In December 2019, the cabinet announced amendments to laws regulating citizenship and residency for foreigners that would allow Egyptian citizenship to be granted to foreigners in three ways related to investments.
The first is though buying properties owned by the government or other public figures for at least $500,000 or by setting up an investment project of at least $400,000 or through a direct deposit in a foreign currency of $750,000 which goes as direct revenue into the state treasury, or by a refundable cash deposit with no interest in a special account in the Central Bank of Egypt (CBE).
Read further: https://english.ahram.org.eg/NewsContent/1/2/464383/Egypt/Society/-foreigners-granted-Egyptian-citizenship-after-ful.aspx