Registering property in Egypt

[queenie40something]

Hello All

I am not sure this is the correct threat to post my question in and I am not sure this question already has been answered somewhere else on the forum but.. What about egyptian property tax after registration.. Is there a difference in the way you rigister your property. I heard that the egyptian government has changes their tax laws regaring property recently or is planning to.. This could be a rumour but is their anybody wih more info on this subject?

thanks in advance

Leo

Hi Leo - there is this thread on the new property tax laws that will come in force http://www.totallyproperty.com/egypt-property/8523-new-property-tax-law.html

 

[Leo en Manon]

Hi Leo - there is this thread on the new property tax laws that will come in force http://www.totallyproperty.com/egypt-property/8523-new-property-tax-law.html

Thank you!!

 

[tinkerbell]

We seem to have differing views here from Zeiad and from Alison & Andy who are agents in Hurghada. Does the system differ between registration of freehold properties in Sharm & Hurghada?

In Sahl Hasheesh the land was purchased by the Egyptian Resort Company and a town planning consultant from the UK was brought in to draw up the Master Plan. Every plot was then sold and plans were then submitted to the ERC and then to the local council for approval. There is then a system of checking to ensure building is in line with the consent given. The final receipt for the property is then registered with the local authority and Notarised at a cost of around 250k sterling (2500 Egyptian).

This seems to be a good workaround in the absence of a formal registration authority; what do others think of this?

Hi Peter,

Having reserved an apartment at Veranda in Sahl I was interested to read this post!! Am I right in thinking that purchases in Sahl should be 'safer choices' because all these checks have been put in place? I have perceived this as if the developer does not deliver what he has said he would ERC won't sign over the final receipt for the land? Surely this will ensure all projects are delivered as specified?

 

[johnwayne]

Registering?

When you buy a property, a flat, villa, or a plot of land you are allowed to register two properties, with each properties total size being no more than 4000m2. The law states that you cannot sell your property within 5 years.

However you can also sell the property, flat, villa, or a plot of land before the five years, if you can get permission from the primary ministers in Egypt.

If you do not register the property, in the official registrar, you can buy as many as you like and sell at any time. You can go to the local court to confirm your contract between the first party (seller/owner) and yourself as the second party.

regards

hi there - have been reading some of your posts and was wondering if you could very kindly explain some things to me. we will shortly be moving into our property in Hurghada and the developer wants us to go to a notary. Will this be for the last paragraph of your above posting? - namely, just confirming the contract?
we really don't know if this is for the registering? we will need to contact them about this as I am hesitant about registering. However, the new laws coming in appear to have scrapped this not selling your property - am I right?
Any advice please on registering or not would be appreciated for us to mull over!

 

[queenie40something]

see also this thread http://www.totallyproperty.com/egypt-property/5473-any-property-registration-hurghada-uk-owners.html

 

[johnwayne]

thank you!

 

[queenie40something]

Your welcome - if still unsure post in the legal thread for Zeiad xx

 

[Denis1]

Hi,
there is no difficulty to registration but you need to proceed in right way.

 

[nubianqueen]

can anybody tell me if they checked the owner of the land at the land registry before purchasing?

nubianqueen

 

[dave99]

What new laws coming in ???

hi there - have been reading some of your posts and was wondering if you could very kindly explain some things to me. we will shortly be moving into our property in Hurghada and the developer wants us to go to a notary. Will this be for the last paragraph of your above posting? - namely, just confirming the contract?
we really don't know if this is for the registering? we will need to contact them about this as I am hesitant about registering. However, the new laws coming in appear to have scrapped this not selling your property - am I right?
Any advice please on registering or not would be appreciated for us to mull over!

What new laws are you aware of that affect the selling rules.
.
.

 

[johnwayne]

Hi Dave 99 - I am sure I read on here that the new laws coming in would allow you to sell the property (if registered) b4 5 years?

 

[rossantony]

5 years

Hi Dave 99 - I am sure I read on here that the new laws coming in would allow you to sell the property (if registered) b4 5 years?

my lawyer says it possible..you have to get your lawyer to apply to the correct administative body for exemption.

my lawyers email is [email protected]

his name is tarek fathalla, registered with the British Embassy.

regards