General Information

Egyptian Laws

* Foreigners can perform the deed of their apartment in the Red Sea area.
* In case of heredity, succession laws of the owner’s origin country apply.
* The registration tax of the deed has recently been changed and the % on the estate value does not apply anymore; it is now a fixed tax of approximately 2,000 LE (around 300 €) for any purchased value.
* In case of deed it is not allowed to resell the estate for 5 years; it is however possible for those who do not want to perform the deed and resell their estate, to register the stipulated sales compromise in double language (Arabic and English), translated by an official translator of the Cairo Embassy.
* Registration fees, etc.
* Tax for Egyptian Lawyer’s Association 6 LE per 1000 on estate value.
*Stamps, official fees and other fees necessary for the registration of the deed.
* Lawyer to finalize all procedures at government offices to register the estate.

The company S.I.D. LTD uses a lawyer’s office, which the clients might make use of in case they need assistance with the registration of their property.

Insurance

Galawa Residence is insured (included in the fixed residential fees) against earth quakes, sea quakes, explosions, fire etc.)

Residential fees

a) Security service at the main entrance.

b) Ordinary maintenance and lightning of internal and external walkways.

c) Ordinary maintenance and cleaning of all public spaces.

d) Garbage management

e) Disinfestations

f) Ordinary organization and maintenance of public spaces: water system, drainage system (up to the private spaces).

g) Reception.

h) Insurance police with basic guarantee, fire, explosion, R.C.

i) Collection of debris.

j) Water and electricity for all public spaces.

k) Organization and maintenance of gardens and water delivery for irrigation systems.

Fees for extraordinary maintenance regarding structures, technical devices and all other items used by the owners will be divided among the owners according to their share in sqm. Surface including shared spaces of property.

Delivery: 12 months

Payment

Installment:

By installments without interest for 12 month:

20% when signing the contract, 70% by installments, 10% on delivery.

Cash:

5% discount in cash payment