Egyptian Minister of Emigration and Expatriate Affairs, Soha Gendy, announced a series of new initiatives to support Egyptian expats. These measures include 14 different services aimed at easing financial burdens and streamlining bureaucratic processes for expats.
A key highlight announced was the upcoming launch of an emergency fund, established in collaboration with the Ministry of Social Solidarity. This investment fund will provide financial assistance to Egyptians abroad facing unforeseen emergencies.
“The Ministry of Emigration is committed to serving the needs of our Egyptian communities around the world,” Minister Gendy stated. “These new services and the emergency fund are concrete steps towards ensuring the well-being of our valued expats.”
Receiving theses services, Egyptians abroad can benefit from a discount on settling compulsory military conscription fees, effective May 1st, 2024. This eases a potential financial burden for expats fulfilling their military service obligations. Further , reduced airfare options will be available to Egyptians living overseas. This initiative can make visiting family and friends in Egypt more affordable.
The ability to hold USD pension certificates and open USD savings accounts in Egyptian banks provides Egyptians abroad with attractive investment opportunities. This allows them to save for their future and benefit from dollarization. Besides, The new measures allow Egyptians abroad to purchase housing units and cemetery plots in US dollars. This streamlines the property ownership process and caters to expats who wish to invest in Egyptian real estate.
These initiatives demonstrate the Egyptian government’s focus on strengthening ties with its expatriate population and providing them with the resources they need to succeed abroad.
