Buying property is a significant investment, and you want to make sure that you are doing what’s best for your future. Settling to an entirely new place comes with many challenges, like how you’ll be dealing with the new home. This is why you must be pretty sure about the area where you’ll be buying your property to avoid any hassle.
What should you look out for when purchasing property in Egypt? You’ve come to the right place; we have all of the information that will help guide your decision-making process!
Let’s have a look at these essential points.
1. Legal Process
Buying property in Egypt is a complex legal process that requires the usage of an attorney. The lawyer will help you determine the best type of property to buy for your needs, be it residential or commercial and industrial properties. They’ll also go through the paperwork with you and provide translations if English isn’t your first language.
You want to make sure that you have all of your necessary documents in order before meeting with the attorney so they can get started on helping you.
2. Registering Your Property In Egypt
You will have to register your property with the government before taking ownership of it in Egypt. Multiple agencies regulate land and housing, including The Land Authority, The Housing Development Agency, the Ministry of Investment for Property and Tourism Affairs (MIPTA), the Supreme Council of Military Lands Management, and the General Organization for Restoring Historic Cairo.
Additionally, if you are a foreigner who is purchasing property in Egypt. In that case, there will be additional documents required to register your right of ownership with the government and get residency status. You’ll need to have an Egyptian citizen or another foreign national sign on as a guarantor for your company (if applicable).
It is essential to pay close attention to the available amenities and compare them with your needs. The best way to do this is by visiting the specific location in person or on Google Maps Street View before signing a contract for the property. You need information about how accessible utilities will be when living there and access to schools, medical facilities, parks into smaller chunks of text.
4. Working Culture In Egypt
Egypt has a culture that is very different than the Western world. It’s essential to make sure you are aware of this when buying property in Egypt and understand how business transactions will take place before moving there. Before accepting an offer, it is wise to get a lawyer involved to provide translations if English isn’t your first language.
If you are planning to buy property in Egypt, it’s crucial to find out about the availability of furniture and appliances before moving. You may need to rent these items for a short period or have them shipped over from your home country until they can be purchased locally. You must also check this article on HouseSolutionEgypt to know how to make your apartment look bigger.
There’s no doubt that buying property is a significant investment. If you want to do what’s best for your future, it’s essential to know where you’ll be living and working in Egypt. This article has all of the information that will help guide your decision-making process when purchasing property in this country.