89 of 1960 on the entry and residence of foreigners in Egypt, and Law 26 of 1975 on Egyptian nationality. There is a difference between staying upon a deposit and obtaining citizenship in return for investment. Under the residence upon a deposit system, foreigners will apply for residence permits in return for depositing money in Egyptian banks in foreign currency. After 5 years of residence in Egypt, they can apply for citizenship, he added. The size of the deposit has not yet been determined and will be specified later in the law, according Committee member MP Ahmed al-Awady.

Source: Egypt Independent April 28, 2017 09:56 UTC