Real Estate Legal Services 

 

According to the Prime minister declaration Number 548 dated 5 April 2005 there is no property ownership for foreigners in the Sharm El Sheikh area. It is a 99 years lease hold and enforced. For verification you can contact us for appropriate documentation.
Process for registration at El Tur/Sharm El Sheikh city (6 to 9 months):

  • Present the documents at the register in Cairo.
  • Cairo central registration office for foreigners
  • Documents are stamped after verification .

 

 

WHY SHOULD I BUY A PROPERTY IN SHARM EL SHEIKH ?
 
  •  Tax breaks (no stamp duty)
  •  No capital gain tax on resale
  •  No sales tax
  •  Low death succession duty 7% (to transfer property ownership)
  •  Tax benefits (extremely low taxes)
  •  Banks: easy to open accounts and to transfer funds
  •  0% tax on bank interest.


There are 3 types of registration in El Tur/Sharm El Sheikh and all of them will give you a blue/green stamped document:

  • Preliminary sale contract can be registered for foreigners buying properties in Sharm El Sheikh only for properties without land and Egyptian can register land and properties.
  • Contract validity which proves ownership (like registration for Egyptians) only for Egyptians.
  • Signature validity Grants validity of the signatures on the document and it is a form of legal protection (which is commonly used for foreigners).

 

 
 
In a country where real estate registration issues are as complex as in Egypt, it is really critical to have a lawyer conduct search and to advise on the legality of the purchase, even if you are buying a brand new property from a well established developer, who can register only after the project is completely built through a document called Dedication Resolution. with Sinai Real Estate we have a full Due Diligence reports Through a specialized solicitor secure our clients investments.
 
 
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