The Minister of Emigration and Egyptian Expatriates’ Affairs, Soha Gendy, has announced the reopening of the zero-customs car import initiative for expats who were not able to benefit from the first launch. This initiative allows Egyptians living abroad or their families to import one personal-use vehicle to Egypt without paying customs duties or taxes, including VAT. Participants only need to deposit the customs value in foreign currency, which will be returned to them in Egyptian pounds.
Gendy explained that the government decided to reopen the initiative based on the requests of expats. The draft law can be extended for an additional three months with the approval of the Cabinet. Expats can register for this initiative through Android and IOS.
The first zero-customs car import initiative was launched in October 2022 and ended in May 2023. Those who previously registered for the initiative can still benefit from it if they complete the necessary steps, according to Gendy. The relaunch of this initiative is part of Egypt’s efforts to increase foreign currency inflows into the market due to the severe shortage in hard currency liquidity.
According to the Ministry of Finance, the first launch brought in around $763 million from 151,000 expats.The Minister of Emigration and Egyptian Expatriates’ Affairs, Soha Gendy, has announced the reopening of the zero-customs car import initiative for expats who were not able to benefit from the first launch. This initiative allows Egyptians living abroad or their families to import one personal-use vehicle to Egypt without paying customs duties or taxes, including VAT. Participants only need to deposit the customs value in foreign currency, which will be returned to them in Egyptian pounds.
Gendy explained that the government decided to reopen the initiative based on the requests of expats. The draft law can be extended for an additional three months with the approval of the Cabinet. Expats can register for this initiative through Android and IOS.
The first zero-customs car import initiative was launched in October 2022 and ended in May 2023. Those who previously registered for the initiative can still benefit from it if they complete the necessary steps, according to Gendy. The relaunch of this initiative is part of Egypt’s efforts to increase foreign currency inflows into the market due to the severe shortage in hard currency liquidity.
According to the Ministry of Finance, the first launch brought in around $763 million from 151,000 expats.
