Viva Reed - Legal process and tax - Emerging Real Estate

Viva Reed - Legal process and tax

Legal Process

The legal costs associated with the purchase of a property in Sharm El Sheikh are low. The total cost for contract verifi cation in a court of law will cost the purchaser 5,500 EGP (c £600. €695 or $984 USD)*. This registering process of the purchaser contract will take 6 to 12 months. All land registration documents, planning consent records, title deeds, building permits and due diligence reports are held by NBC Business Consultancy and are always available for viewing.

For legal advice we recommend clients to Mr Nabil Bamieh at:

NBC Business Consultancy Financial and Legal Consultancy Services Unit 13 . 14A Viva Mall Peace Road Sharm El Sheikh

Tax

Property purchasers in Egypt should note the following important tax information:

• No capital gains tax, no inheritance tax and no Government tax on property sales

Insurance

Building insurance – structures are covered by Statutory Law for a period of ten years. All other insurances are the responsibility of the property owner.

Enquire Now

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