Egypt Guide: Money

Our money guide provides information on bank accounts, money exchange, credit and debit cards and money transfers. If you need to open a bank account, we will explain how to do it - step by step.

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  Banking

  Opening an Egyptian bank account

  In spite of the numerous bank branches in major cities, many low-income Egyptians will never open a bank account in their lifetimes. As a foreigner, you may find it difficult to open a bank account in Egypt, though it is certainly possible.

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  Money

  Cash, credit cards and debit cards

  Egypt’s currency is the Egyptian pound (EGP, LE). Its most common denominations are 5, 10, 20, 50, 100, and 200-pound notes.

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  Transferring money

  Bank and wire transfers in Egypt

  If you are fortunate enough to open an Egyptian bank account, you will find that your bank will be able to transfer money to overseas accounts for you.

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  Taxes

  Income tax and other taxes in Egypt

  Though the Egyptian government is making a concerted effort to streamline the country’s tax system (especially in terms of making it more investor-friendly), it still bears the hallmark confusion and inefficiency bred throughout decades of socialist inefficiency.

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  Managing your money

  Investing in Egypt

  The Egyptian government is keen to promote foreign investment. As you may recall, you can apply for a residence visa as a foreign investor.

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