Is Egypt a hidden gem? (tax-free foreign income)

[scooterguy]

The idea is to generate no income in Egypt, so none of those︈ problems would exist in what I proposed originally: living in Egypt off foreign income.

One would just bring money into Egypt, from abroad, to pay for living expenses. There would︉ be no need to take money out or to set up a business.

 

[daniels27]

To answer your question, there are many places where you can live off dividends⁤ from offshore. And many of them are probably much more appealing to most of the⁣ readers here.

But I really like your proposal. It is always good to discuss more⁢ options!

 

[Offshore Traveller]

I did it because I m renovating a flat and I needed to extend my‌ 1 month tourist visa, 6 months was the minimum extension. No need to justify any‍ link to the country, no question asked.
The $150 fee has to be paid in⁠ a foreign currency. You also need a residency for any interaction with the bureaucracy or⁤ for making a private contract. You can get a temporary residency linked to your 1⁣ month tourist visa for a EGP 120 fee , done on the spot.

 

[Offshore Traveller]

250k investment + 100k "donation" for the privilege to get a passport that will not‌ even let you travel to nearby Tunisia or Morocco, you get the picture...it stands no‍ comparison with the 400k Turkish proposition.
The scheme was hastily designed to try to sell⁠ off-plan flats in the new capital city, which is in total stand by for lack⁤ of funding.

 

[Offshore Traveller]

sorry, 300k total investment for the real estate option

 

[Armani]

Can you elaborate on this?

Do you see‌ any opportunities in IT, ecom, financial services or in capital intensive industries such as manufacturing,‍ construction, tourism, retail etc.?

How do you solve the problem of moving capital in-out?
If invest money into a country i want to be sure to get it back.

 

[daniels27]

Went to Egypt.⁠ Was good place. Took some girls and photos of hand made stuff that sells well⁤ to tourists. Went to China bought cheap ripoffs. Went to EU with the girls and⁣ hooked them up with cheap labour. Went back with my Harem and boxes. EU guys⁢ are selling theap stuff to tourists, driving taxi at over prices prices and most is︀ going well. Broke a bunch of ATMs, toursts happily give me EUR and others for︁ their pounds.

No, but for real.

There are many call centres in Egypt. I won't︂ give you any names, but English speaking call centre of old big European companies.

Tourism around the red sea is quite stable too.

 

[JustAnotherNomad]

I have heard the IT sector is good in Egypt. No idea if true.

 

[churumbelo]

But you would have to live in Egypt.

 

[daniels27]

Almost nobody‌ here in this forum likes to live for more than 3 months in the same‍ place. Red sea in winter does not sound that bad.