Legislative Overview
Law No. 230 of 1996 constitutes the principal legislative framework governing the ownership by non-Egyptians of built properties and vacant land in the Arab Republic of Egypt. It establishes the statutory regime applicable to the acquisition of real property rights by non-Egyptian natural and juridical persons, including full ownership, bare ownership and usufruct rights, subject to the special legislative frameworks governing investment and other statutory exceptions.
The Law prescribes the conditions governing foreign ownership of real estate, defines the scope of its application, regulates the legal status of non-Egyptian companies, establishes ownership restrictions and statutory exceptions, governs post-acquisition transfers, and determines the civil consequences arising from non-compliance.
The Law remains the principal legislative reference governing foreign ownership of real estate in Egypt and is of particular significance in foreign investment, real estate development, project finance, cross-border transactions and legal due diligence.
Legislative Framework
- The Law principally regulates:
- Persons and entities falling within its scope
- Categories of real property rights that may be acquired
- Statutory restrictions governing ownership
- Legal treatment of non-Egyptian companies
- Statutory exemptions
- Restrictions applicable to post-acquisition transfers
- Civil consequences of non-compliance
- The jurisdiction of the Real Estate Publicity and Notarization Authority