Quote:
Originally Posted by lovesquadsue
Hi All
Sorry if im going over old ground here! I've just read through this thread and was wondering what this 5 year rule is about - I havent heard about it before.... Does it apply to property purchased in hurghada (we are British)..??
Many thanks
Sue x
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Sue, reading the "Propertasic" news letter link in an earlier post this paragraph seems to cover your question
"You will also need the assistance of a lawyer in order to guide you through the process of registering the ownership of your property as there are two methods of doing this. The first method registers you as the owner in the Land Registry. The downside to this however is that, as a foreigner, you are restricted to the number of properties you are allowed to buy in Egypt and you will also be unable to sell on the property in a period of less than five years. The second method, which is probably the better of the two, is to register your ownership with a notary but not have your name listed at the Land Registry. This avoids the restrictions placed upon you as a foreigner."
Iain