Parliament Passes Bill to Grant Egyptian Nationality in Exchange for 7 Million EGP Deposit

-

According to Egypt Independent, the Egyptian parliament passed a bill on 15 July giving foreign residents the opportunity to acquire the Egyptian nationality in exchange for a seven million EGP bank deposit, or the equivalent in foreign currency, over the course of five years.

The bill did not get overwhelming support; with many MPs arguing that the Egyptian nationality should not be “for sale.” Those in favor argue that it could grant Egypt a reasonable amount of foreign currency and thereby benefit the Egyptian economy.

On the other hand, some argued that foreigners willing to invest in Egypt would not necessarily want to reside in the country; only requiring residency or visa facilitation rather than a nationality.

Latest Articles

6 Movies to Watch This Eid

A long vacation means going to the cinema at least once - if not more. From comedy and mystery to action and romance, we’ve got you covered with the ultimate guide to the top movies hitting theaters this Eid!

Read More

An Idiot’s Guide to Jazz

In those words lie the story of Jazz; the art that revolutionized Western music and changed the music industry forever.

Read More

Five Go-To Rompers That Will Transform Your Summer Wardrobe

Looking for something to wear this weekend while on vacation? If you’ve already shown off all your casual dresses and cover ups, then you might want to consider trying out rompers!

Read More

7 Bathing Suit Designs to Rock This Summer

What better way to make a statement in the summer than with a chic bathing suit? Check out this year’s trendy looks for some inspiration.

Read More

O’s Pasta: Your New Go-To Pasta Place

Having the food directly cooked in front of us also guaranteed its quality and freshness.

Read More

Page 1 of 147