The legal basis of acquisition of the real estate in Sharm el Sheikh is fixed by following legal acts:

Law N 230/1996 «About possibility of acquisition of apartments, buildings and the earths foreigners in Egypt»

Foreigners have possibility of acquisition of two objects of the real estate a maximum in territory of Egypt for residing of owners and their families, and also for realization of any projects according to the Egyptian legislation and licenses from the government of Egypt.
The maximum area of each got object – 4000 m.
The given objects should is out of an arrangement of historical values and monuments.

According to the order of the Prime minister №548/2005 «About a full private property and The rights Usufruct for foreigners in Egypt» - foreign citizens can own a private property in territory Sharm el Sheikh only 99 years - the Right of Usufruct. Real estate purchase in Sharm el Sheikh and at all coasts Sinai different from real estate acquisition in any other area of Egypt (for example, in Hurgada), proceeding from distinctions in a real estate legal status. The given law says, that the right of registration of the real estate in long-term rent - for a period of 99 years, further prolongation on the following of 99 years is given to foreign citizens.
The law on rent for 99 years allows to make all legally significant actions with real estate as that to register it, to sell, hand down, lease, use as the contribution to individual share and etc.

The law № 8/1997 "About rules of guarantees and developments of investments"

Name of the Egyptian people, from approval of the President of Egypt, the Parliament of Egypt has made decision to work with the given law according to following rules.
1. Work should be carried out according to the Law "About rules of guarantees and developments of investments".
2. It is necessary to consider point 18 of the present law on impossibility of change of the size of the reduced taxes, additions of new taxes in action of the law and changes of other given guarantees and possibilities of development of the companies and projects. Any project should be carried out with application of the given law. According to the law of the company and projects should have the reduced taxes of the certain fixed size or their full absence, guarantees and possibilities from the government till the moment of the termination of the free period from taxes (5 and 10 years for various projects).

 Our lawyers in perfection own several foreign languages – English, Russian, Italian etc. Here some of them:

Employees of head office in Sharm el Sheikh:

1. Mr. Ahmed Hussein Abdel Aziz - Lawyer of the Supreme Appeal court, tel. +20101530933, ahmed@vipnet.su

2. Miss. Marina Kazakova - Russian Lawyer, tel. +20193167119, marina@vipnet.su  

3. Mr. Ashraf Saber el Gazar - Lawyer of the Supreme Appeal court.

4. Mr. Mahmud Mohammed Ibrahim.

5. Mr. Ali Bahlul el Sheikh - Lawyer of the Supreme Appeal court.

Branch of Sinai, city El Tour
– Sharm el Sheikh.