- Almost 365 days per year are sunny
- 35 C for much of the year, 18 C generally the lowest
- Great Beaches and unspoilt coral reefs
- World Class diving
- High Quality construction
- Very low crime
- Low property prices from just £22,000
- Anticipated capital growth of 20% per annum for the next 3 years
- No capital gains or inheritance tax
- 52 weeks a year rental potential
- Tourism growing faster than bed capacity
- Friendly and hospitable people
- GDP growth nearly 6.0% per annum
- Stable government pushing privatisation & infrastructure initiatives
- 7000 years of civilisation
- 4.5 hours from UK
- Very cheap cost of living (meal, nightclub, taxi for under £10)
Egypt Property
Egypt property offers incredible investment opportunities with many incentives for investors. The real estate and residential tourist developments along the Red Sea coast offer you as the investor the most attractive returns in terms of potential rental income and, capital growth expectations. Many of today's worldwide investors are focusing on property in Egypt because it offers excellent early investment opportunities whilst boasting a healthy and growing economy.
Egypt Real Estate: Key Investment Points
- Luxury properties are being built at affordable prices
- Property prices have increased in the last two years
- Warm desert climate with year round sunshine
- Number one medium haul tourist destination from Europe
- No capital gains or inheritance tax
- Low cost of living
- Low cost airlines fly direct from the UK in just 4.5 hours
- Established and thriving tourism industry
- Year round rental opportunities
- Recent fall of Stirling against the Euro makes Egypt very attractive to the holiday maker
Opportunities in Egypt are sure to please our investors. Prices are unbeatable and timely investors will be seeing some very encouraging results from their early purchases in Egypt.
Egypt's economy is strong and increased government policies to boost the country's tourism sector are strong indications of the future success of your property investment in Egypt.
The success of property investment in Egypt relies heavily upon the ever increasing tourist industry. For now, prices remain incredibly low (from 30,000 Euros for a seafront apartment) and offer excellent potential for capital growth in the near future.
Increased demand for year-round holiday rentals within newly built purpose built complexes is fuelling the property sector and attracting well heeled international tourists looking for modern amenities within an interesting and exotic medium haul destination. Whether a holiday destination or an investor's dream, Egypt therefore ticks many boxes in the property purchaser's wish list.
Tax Planning In Egypt
The Egyptian property tax system is relatively simple and is exempt from many taxes we pay back home. Here you can obtain a brief guideline of Egypt's property tax system. In Egypt there is no stamp duty or capital gains tax payable on real estate and, if you are a British resident, you will also avoid inheritance tax on any Egyptian properties that you decide to pass on to your loved ones.
Tax on Rental Income
Any person, partnership or company must file a tax return detailing all rental or other income derived from real estate by March 31st of each year. For rental income the basic threshold for taxation is LE 5,000 per annum. Provided your rental income is less than this figure, you pay nothing and need not file a return.
For those with rental income greater than LE 5,000, 50% of the total amount is tax-free to cover maintenance and other expenses associated with owning the property in Egypt The balance is taxable at a standard rate of up to 20% rate of personal and corporate income. For example, you rent out a flat for LE 8,000 per month, grossing LE 96,000 in rental income per year. Simply subtract the deduction against costs of 50%, leaving LE 48,000 as taxable income. The balance owed in taxes is LE 6,100.
|
