The Finance Minister’s first statement on the request for the Egyptians Abroad Cars initiative

In his first intervention on the request for the initiative to “facilitate the importation of auto for personal use for Egyptians living abroad”, the Egyptian finance minister, Mohamed Maait, confirmed that the initiative has been in great demand since its inception, in how much only within 10,000 electronic accounts were registered on the digital platform of the national initiative with smartphones in 48 hours.

Maait stated in a statement today, Saturday, that he directed the continuation of the facilitation of procedures to benefit from these facilities.

And the Egyptian Customs Authority has revealed that the initiative to “facilitate the importation of auto for personal use for Egyptians residing abroad” began on 15 November and will continue for a period of four months, until 14 March 2023.

Customs said the official electronic application “Cars of Egyptians Abroad” related to this initiative was launched on smartphones. Accommodating requests from Egyptians residing abroad who wish to import their own auto with the new concessions through simple steps by opening an electronic account on this digital platform, registering the data and uploading the documents, and the applicants will be automatically informed of the due fees.

According to the release, the new concessions provided for Egyptians residing abroad apply to imports from free zones within Egypt, and are subject to the same procedures as for the importation of aauto from the country of residence. From abroad, provided that the shipment comes from the country of residence, and several members of the same household are entitled to benefit from the new concessions for the importation of cars, provided that the prescribed conditions are met.

And just in case in which the opening of a bank account is prohibited in any country, it is permitted, subject to the issuance of a certificate authenticated by the Ministry of Foreign Affairs, to transfer from one’s bank account in any other country to Egypt, emphasizing that there is no import approval when procuring the amount in cash due from within Egypt.

To take advantage of the initiative, the resident abroad must be Egyptian or retain Egyptian citizenship on the date of payment of the amount in cash owed, be at least 16 years of age, have a valid legal residence abroad even if not actually resident, and have a bank account in the country of residence open for 3 months. The lowest, with the amount in cash due at least three months before the date of the transfer, indicating that these auto imports are for personal use only and may not be used in commercial activities, but are not prohibited for sale and also do not include transport or semi-transport vehicles.

The press release indicated that Egyptians residing abroad who apply to benefit from the new concessions for the importation of cars for personal use are not required to pay any tax or other tax due to the public exchequer of the state.

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