Egyptian Minister of Emigration and Expatriates’ Affairs Soha Gendy announced on Monday the renewal of a presidential initiative enabling Egyptians living abroad to import tax-free cars into Egypt.
A statement issued by the ministry said the expatriates who did not benefit from the first phase can apply for importing cars during the coming three months on this Android link: https://play.google.com/store/apps/details.. or iPhone link: https://apps.apple.com/…/%D8%B3%D9%8A%D8…/id6444364022
The statement said the renewal of the initiative came after the ministry received requests from expats wishing to import cars.
This initiative emerged as Egypt worked to increase its foreign currency inflows amid the global economic crisis and the pressure it exerted on the local currency, resulting in a crunch of US dollars.
The initiative, which concluded on May14, allowed Egyptian expats to import tax-free cars, provided they invest the equivalent sum of saved duties and taxes in foreign currency within a five-year certificate of deposit, devoid of interest.