Head of the Parliament’s Defense and National Security Committee Kamal Amer denied granting the Egyptian nationality to foreign investors for $10,000.
Amer added during his phone call to Mubasher channel that $10,000 or the equivalent in Egyptian currency is the fees for applying for the Egyptian citizenship.
In the same context, the Defense and National Security Committee of the House of Representatives approved on Monday, June 10 new amendments to the law of Entry and Residence of Foreigners in Egypt that grant citizenship to foreigners who inject their investments into the country.
Article No. 2 of the law will be amended to stipulate that the prime minister has the right to grant the Egyptian citizenship for any foreigner who bought a state-owned property or a private property, established an investing project in accordance with the Egyptian Investment Law, or deposited money in hard currency.
As per the new amendments, the Cabinet shall form a unit tasked with considering the applications of granting the citizenship. The unit consists of representatives of ministries of foreign affairs and interior, investments and international cooperation.
The applicants shall submit their forms online and pay $10,000 or its equivalence in Egyptian pound. Then, the unit shall consider the application within only 3 months.
The latest amendments conducted to the Egyptian Nationality Law were approved on September 21, 2017 by the Parliament, stating that “The Egyptian citizenship will be withdrawn from individuals found guilty of participating in a terrorist act, communicating with terrorists or gathering information for terrorists.”