The rules were published in the Official Gazette earlier this week, kickstarting the scheme which President Abdel Fattah El Sisi signed into law at the end of last month
The cabinet recently revealed the executive regulations of the tax-free law for Egyptian expats to import cars for personal use, allowing expats to bring in personal vehicles without paying customs duties for four months as part of the country’s efforts to attract hard currency.
The rules were published in the Official Gazette earlier this week, kickstarting the scheme which President Abdel Fattah El Sisi signed into law at the end of last month.
The government will launch an app, “Sayarat masryeen bel khareg” (Egyptian Cars from Abroad), and online platform which will automatically calculate the required USD payment for expats based on the car model they will import.
Expats looking to import will have until 28 February 2023 to pay their dues – including customs fees, VAT, schedule tax, and development fees — in USD to a National Bank of Egypt account set up by the government.
Five years later, the expat will be able to withdraw the money in Egyptian pounds at the value of the local currency at the time of withdrawal.
Participants will then have to submit proof of payment on the app, after which they will receive a letter approving the car import within a week. The rules also clarify that expats only need carry a residency permit abroad or a non-Egyptian passport to be eligible.
Egyptian expats can import used cars provided that the manufacture year should be 2019 or later. The imported car should be for personal use only and not for commercial purposes.
The law does not prohibit selling the car after importing it.
