The draft law on exempting cars from Egyptians abroad from taxes and customs, which was ratified by the President of the Republic, comes as an important initiative that benefits the state on the one hand and workers abroad on the other, by strengthening the economy for the state and workers abroad by obtaining a customs exemption in return for a dollar deposit due After 5 years, it will bring about a breakthrough in the car market and reduce the demand from the local market, which helps to balance the market.
The joint committee stressed that the draft law stems from the state’s commitment to looking after the interests of Egyptians abroad, protecting their rights, giving them an advantage and encouraging them, enabling them to perform their public duties towards the state and contributing to the development of the country in light of the current challenges facing international trade and their negative repercussions.
The requirements for obtaining a car under the provisions of this law are:
An Egyptian who wishes to benefit from the provisions of this law, in paying the cash amount stipulated in Article 1 of this law, must meet the following:
1. To have a valid legal residence outside the country.
2. He must be at least 16 full Gregorian years old.
3. He must have a bank account abroad, at least three months have passed since it was opened.
An exception from this condition is the spouse of an Egyptian residing abroad and his children, if the remaining conditions stipulated in this article are fulfilled in their regard.
It is also required that a car that is imported from someone other than the first owner, in accordance with the provisions of this law, be no more than three years old, on the date of its provisions, from the year of manufacture.