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Bank Account in Egypt to buy a property.

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Dr_Ahmed_UK

Dear all,

I'm looking to buy a property in Egypt, not in full (pay it off in 5-7 years).  I believe to do so I'll need a bank account in Egypt, right?

I'm Libyan, my mum is Egyptian, and I live and work in the UK (residence).

How can I open a bank account in Egypt?
Can I link my bank account in the UK to the one in Egypt?
If I can open an account, Can I send money from the UK (GBP) to Egypt account?
Can I have two currencies GBP and EP in my bank account?

I'm looking forward to haring from you.

Regards,
Dr. Ahmed

Apartments in Hurghada

You have to go to Egypt and open in person.

Don't know what you mean "link" your bank account so can not answer that.

Yes, you can send money both ways and you can have various accounts in different currencies.

Usually limited to EGP, GBP, EUR, USD.

Dr_Ahmed_UK

Thanks for your reply. I can go in person to Egypt, but will they open a bank account for me?
Please could you let me know what I need to bring to open a bank account?

Apartments in Hurghada

Usually a 6 month visa which is very easy to get and your passport.

You also need a local address in Egypt.

tarnyaellan

we have HSBC Bank in Egypt as well as England also bacleys u can ask international banking   but 2 open bank account in Egypt u have 2 live there not just visit  n u can't buy property over yrs like u want

Apartments in Hurghada

HSBC is not very good any more. And their HSBC Premier model have lost its appeal as it does not work as it used to and known for horrible customer service.

Instalments on certain property, usually newly built, is possible from some developers.

Purpleseven

You can’t link two banks together like Barclays as I am with the uk barclays  but you can buy a flat in egypt without living there.... you can also buy flats from uk companies who will help you open a bank account.

Dr_Ahmed_UK

Thanks you. I'll get 6 months Visa and tray to open a bank account.

Dr_Ahmed_UK

I do have an account with Barclays UK. They said that I need to check with Barclays Egypt.
Thanks for your advice. I think that if I try to buy a property in Egypt from the UK, it wont be a good idea. I wont have all the options available in Egypt plus it will be super expensive.
I'd prefer to buy it in Egypt locally through a local bank.

tarnyaellan

be very careful when buying ur house it's not strightward as in England  make sure the lawyer is good  many are not n dont 4get u will be charged double tripable price 2 what it is  not all land n houses r n I t what they seem
good luck n all the best
HSBC if u have a account in England u can just transfer ur money over 2 Egypt n a new card will be waiting 4 u 2 pick up when u  arrive in Egypt    visa not so easy 2 get now tourist only 1 mth n as ur not marked 2 a Egyptian I don't know if u can get one 4 6mths anymore

Purpleseven

Where in egypt are you wanting to buy if it is hurghada there is a company called go investments that work in hurghada but are a uk company and are well worth a look at.

alqazaha

I checked this company Go Investment and they have few properties available for sale but none seem ready to be occupied. It will take a long time for them to be ready in this poor economy.

CRUZ Habebe

There is one property available built in December 2018 through go invest and a sister property opening in 3 to 4 years already selling both good plans and payments. I’m purchasing from the first location and very excited about it. Google aqua palms resort and Aqua tropical resort for great information

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