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Property ownership

The cost of living in Egypt is far lower than in most European countries. As a result, the cost of maintaining and managing a property is very low, another reason that property ownership is gaining popularity among overseas purchasers.

Exact costs will vary from property to property, but the following is a general guide:

• Property tax - currently, taxes on the sale of real estate are entirely different to standard property taxes or real estate registration fees in other countries. The Egyptian government is debating a reform of property registration fees and is proposing to impose international-standard property taxes to simplify the process.
• Tax from the sale of property - this is currently chargeable at 2.5% of money earned from the sale of a property and it must be filed as tax owed by April 1st. The only exceptions are income from the sale of inherited real estate, and income received from the sale of real estate owned through a shared capital company, provided the shares in that company are held for at least five years after the sale. This is designed to prevent the formation of ‘paper’ companies for tax avoidance purposes.
• Stamp duty / capital gains tax / inheritance tax - in Egypt there is no stamp duty or capital gains tax payable on real estate and there is no inheritance tax on any Egyptian properties for British residents.
• Tax on rental income – income tax is levied at progressive rates; as a guideline, taxable income up to approximately €2,500 from furnished apartments is levied at a rate of 10% (the maximum rate levied is 20%). Tax on income from unfurnished rentals is very low or non-existent. It is mandatory to file a tax return detailing all rental income gained from real estate.
• Wealth tax - there is no wealth tax in Egypt based on the value of the property.

Related items

Documents and Reports

	Egypt property investment report (392Kb)
Documents and Reports

Other related pages

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