New Investment Law brings Life Back to Real Estate Market
Posted On August 29, 2017
There is no doubt that the actual implementation of the new investment law which has been legislated by the minister of international cooperation and investment, Sahar Nasr , will revive all aspects of economy including the real estate market as this law aims to motivate the foreign investment and eliminate bureaucracy.
Also, this motivation includes a 50% tax discount on investments in the non-developed areas. In addition, the government provides support when installing facilities to those new projects which is really a great motivation for the foreign investor.
Besides, that law provides 50% tax discount on the projects that its production will start within two years which will encourage the investors to hurry up.
In addition to that, one of the laws that required a lot of discussions and objections is the law of working on the free zone areas for the private sector - "Those Areas which are Free of Taxes and Customs" - which has proved its success all over the world.
So, the main goal behind this new law is to ease and simplify things for the foreign investor and encourage him to invest in Egypt which will naturally increase the Egyptian economy and thus will affect all sectors.
Furthermore, the projects that will get established in the free zone will provide 83,000 direct job opportunities in addition to the indirect ones.
The new investment law will attract the foreign investors to the real estate market by removing the difficulties and reducing the restrictions on the foreign properties ownership.