In a bid to stem inflatation crisis, Egypt announced that it would grant one-year residencies to foreign investors founding news firms or economic entities in Egypt.
In a statement, it said: "The the new decision applies to foreign investors registered at the General Authority of Investment and Free Zones (GAFI)," noting that the offered residencies are renewable for six months or a year.
This came just a week after Prime Minister Mostafa Madbouly stated that Egypt will allow foreigners to own property with no limits, but according to certain rules.
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