News dalla rete ITA

7 Giugno 2023

Egitto

CABINET GREENLIGHTS RESIDENCY-FOR-INVESTMENT

Ministers greenlight further investment facilities: The cabinet yesterday approved a recent decision by the Interior Ministry to amend the Investment Act regulations to allow foreign investors to acquire year-long non-touristic residencies when proposing investment plans to the General Authority for Freezones and Investment (GAFI). The residency can then be renewed for six-month or year-long periods depending on how long it takes to establish the business.Opening up local bank accounts is also getting easier: The amendments will also allow foreign investors to open accounts at local banks while they’re in the process of establishing a new business.It’s getting easier to pay for industrial licenses: Trade and Industry Minister Ahmed Samir yesterday issued a decision allowing industrial investors to pay for licenses every three or five years, instead of annually, the Industrial Development Authority said yesterday. Owners of high-risk factories will be able to pay every three years and operators of low-risk factories can pay every five years. (ICE IL CAIRO)


Fonte notizia: enterprise newsletter