REUTERS/Stringer/File PhotoCAIRO – 12 May 2023: Egypt’s initiative allowing its expats to import cars free of taxes and customs duties will expire on Sunday 14 May, the Ministry of Finance announced in a statement. Citizens can then withdraw their deposits after the end of the five-year period but in Egyptian currency. The ministry noted that the initiative has brought in around $835 million with daily registrations amounting to 6,000. More than 167,000 Egyptians living abroad have registered to benefit from the initiative, the ministry added. The initiative allows Egyptian expats over 16 years of age, who carry valid residence permits and foreign bank accounts, to import a private car for personal use within five years of registering in the initiative.
