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FAQs

1. Can I purchase a property in Sharm el Sheikh?

Yes, no problem.

2. Do I need a visa?

No, you do not need a visa to buy a property in Egypt, but you must have a visa to live here. 

3. Do I need an Egyptian bank account?

No, you do not need an Egyptian bank account in order to buy a property, but could be useful if at a later stage, should you want to rent out your property.

4. Do I need a local lawyer?

Yes, due to the complicated legal process whether from reputable developers or primary/secondary markets. The language barrier and time consuming and complicated legal process does require proper care of a lawyer working on your behalf

5. What fixtures & fittings come with  the properties?

This depends on what and where you buy. Many off plan investments can be personalized at the point of purchase. Others come with basic so you can choose your own style. Some resales come ready furnished.

6. Is it easy to get your apartment furnished?

Yes, we offer a very varied range of good quality furniture which you can choose from, at extremely competitive prices.

7. Can I rent my property out?

Yes,  we offer a wide range of Management options to suit you.

8. Do I have to pay tax?

No, There is no Capital Gains Tax or Inheritance tax to be paid in Egypt.

9.  What other charges can I expect?

Maintenance charges normally apply. These depend on the property and inclusive services offered on each development.

10. Most frequent problems appearing during the buying process

The property registry in Egypt is out of date and incomplete, and many believe that only 10% of the properties are actually registered. Note, however with the relatively new foreign Real Estate market especially in Sharm and in Sinai this is starting to change and keep up to date with this buoyant market.

11. Will I be able to rent my property out, if so how can I do this?

Most of the property owners in Sharm el Shiekh let their properties, when they are not using them. There are several ways in which this can be done. They can be managed in seraval ways.  The Developer you purchased from, or through a reputable Real Estate agent or you can choose to do it yourself. Red Sea Property Investment offers reasonable and reliable property management service with guaranteed returns.

12. Do I need Insurance on my property?

According to the Egyptian construction law, all developers must guarantee for 10years the buildings and insurance for the fixtures and fittings is included in the maintenance payments. It is advisable to take out contents insurance to cover your personal effects.

13. Can i leave my property to anyone in my will?

Yes, any property purchased in Egypt can become part of your estate.

14. When can I sell my property?

You can sell your property at any time after the contracts are signed. Red Sea Investment Properties are more than happy to help you with this.