title: Law No. 56 of 1988 on the ownership by non-Egyptians of buildings and vacant land, 9 April 1988.
abstract: This Law provides that foreigners may acquire buildings and vacant land in Egypt with the approval of the Prime Minister.  Ownership is to be limited to one property for use as a private dwelling and not to exceed 3000 square meres in size.  Vacant land acquired also must not exceed 3000 square meres.  Exceptions are made for diplomatic premises.  A foreigner acquiring vacant land must build upon it within three years, or the taxes on the land will be doubled.  An additional doubling of the tax will be made at the end of the next three-year period and will be doubled after every additional year up to a tax of 10 times the original tax if the foreigner continues to fail to build on the land.  Under the Law, land purchased by a foreigner may not be sold or otherwise disposed of until five years after the purchase.  Sale or disposal of property without permission of the Council of Ministers or in violation of the provisions of the Law is void.  Prime Ministerial Decree No. 1133 of 1988 sets forth procedural details for  the purchase of land and buildings by foreigners.  See Arab Law Quarterly, Vol. 4, Part 2, May 1989, p. 177.
mesh_terms: D000349:Africa; D000352:Africa, Northern; D003710:Demography; D003906:Developing Countries; D004467:Economics; D004534:Egypt; D004641:Emigration and Immigration; D005006:Ethnicity; D005376:Financial Management; D007878:Legislation as Topic; D008877:Middle East; D011153:Population; D011154:Population Characteristics; D012959:Socioeconomic Factors; D013660:Taxes
keywords: Africa; Arab Countries; Demographic Factors; Developing Countries; Economic Factors; Egypt; Financial Activities; Foreigners--legal aspects; Land Tenure--legal aspects; Legislation; Mediterranean Countries; Nationality; Northern Africa; Population; Population Characteristics; Socioeconomic Factors; Taxation--legal aspects