Egypt Law :The Incentives and Facilitations related to the Investor

Regulating the Residence of the Foreign Investors and Hiring Foreign Workers

Subject to the provisions of the laws governing residence in the Arab Republic of Egypt, to grant non-Egyptian investors residency is subject to the following conditions: - The investor should be a founder, shareholder or partner in a company or an establishment owner. - The period of residency may not be less than year and not longer than the period of project. The Authority's Board of Directors may add other conditions, subject to the consent of the Ministry of Interior. The residence shall be cancelled when the investor exits (dissociates) from the company; or the company's registration is written off based on the company's liquidation or writing off the establishment's registration from the Commercial Register.

The application for residency shall be submitted on the form prepared by the Authority for this purpose. The residency shall be granted in accordance with the rules and controls that will be issued by the Board of Directors of the Authority after the approval of the Ministry of Interior in light of the categories and relative weights of the purpose of the company, the capital, and number of workers and the location of practicing the activity. The period of residence shall be one year at the beginning of incorporation, and shall be renewed for another period in case there is seriousness in starting the execution of the project. Then, it shall be renewed for periods of five years each and in all case the residence may not be longer than the period of the project.