Quote:
Originally Posted by Sveta and Sergio
hello,
we are new here. we are looking at buying a holiday home in hurghada we met with a couple developers about two moths ago. one asked of the companies asked us to send the deposit to the united kingdom. we asked a attourney that we met with in hurghada about this, and he said this is against egyptian law for a developer have money sent out of the country for a property being biult in egypt, and that the egyptian govermnent is starting to investigate anyone doping this, and to take all there property. has anyone else been asked to send any of there payments out of egypt. can anyone recomend a good honest develper company?
Thank you.
svetlana and sergio and two cats
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Hi Sveta and Sergio
When I read your post I decided to double check. There is no Egyptian regulation regarding money needing to be paid into Egypt in regards to projects being built in Egypt (at least according to my legal guy) and I am sure there are enough seasoned hands in the Egyptian property game on this website to confirm. Hopefully Zeiad will see this comment and reply.
Cheers
Rick