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Foreign Investors in Egypt Can Now Attain Temporary Residence According To New Law

Dollars, come to the dark side – you're Egyptian now!

Cabinet spokesperson, Hossam Gawish, explained that it would be a new type of residency that would make it easier for investors to stay in the country for business-related purposes. 

Gawish added that after the five-year stay in Egypt, investors can also apply for Egyptian citizenship. The latter addition has been stirring a lot of heat within the parliament, with several MPs objecting, ''Egyptian citizenship is not up for sale.'' While another proposal made by MP Moataz Mahmoud, suggested granting Egyptian nationality to only "Arab investors," according to Daily News Egypt.

Main image courtesy of Al Ahram.