Hi Caroline and welcome to the forum.

Zeaid hasn't posted on the forum in some time - he's so busy at the moment. Alison, the other moderator on the forum (Queenie40something) is very knowledgeable on all things Sharm and I think she might have the answers that you need. If she hasn't answered you by the end of the day (which would be very unusual!), I'll give her a nudge.

Very best wishes
Linda

Hi Caroline and welcome.

Yes foreigners can rent out their property

See http://www.totallyproperty.com/egypt...an-lawyer.html

Paragraph taken here states

1- I am an Egyptian / a foreigner who purchased my property before the decree of 2005: You are the landlord of your property, you own it for infinite time, and you have the right to sell it or to dispose of it legally or physically.
2- I am a foreigner who purchased my property after the aforementioned decree was issued: You have a usufruct right for 99 years. You can live in your property, rent it out for tenants, or dispose of your right legally, but not physically.

I know someone that has 2 properties in Sharm and he rents them out on a long term basis.
Also you will find that a lot of the developments are offering rental agreements which again confirms that you can rent out your property.

Which area of Sharm are you considering? There is a thread on Sharm along with a couple of developments. I am buying in Nabq on Sierra and it should be ready any day now. Please feel free to post any questions in the Sharm thread http://www.totallyproperty.com/egypt...ing-sharm.html

Regards

Alison

Hi Caroline, Welcome also from me.

Alison (Queenie40something) has replied to you but I will also add my two pennyworth.

Though it's tedious you will find lots about renting in Sharm and Egypt in general on the legal thread and yes, as Alison said, you are free to rent out. I do believe there is a small tax to pay depending on the value of your appt and no doubt insurance will cost a bit more if you rent out (but you will expect that). Presumably we should declare such earnings in UK, but surely expenses can take care of there being too much profit!

We have also bought at Sierra in Nabq and been through all the ramifications of 99 year lease etc. In the end we are happy with the arrangements and most developers will renew your lease to 99 years (for a fee) If you sell. I think it's to do with UN still being involved in the Sinai peninsula.

Anyway we don't believe we lose out at all, and much London property is leasehold so seems fairly normal in that respect.

Try to take a little time searching the legal threads as this is covered in considerable detail, though you may only have 98 years left on your lease by the time you finish reading!

We are also close to taking over our property, and our only worry really is that the airfares stay at managable levels. If not, we just have to stay there longer each trip......

Good luck

Iain

..also Sharm seems to have more airlines flying and the prices / availibilty needs to be considered as well. We were lucky enough to book a flight in Jan for 2 weeks in Oct with Easyjet for £100 each return. I understand Easyjet are no longer continuing the Hurg route.

As Iain states there really is no prob with the 99 yr lease. We have our children in our contract and the lease will pass to them. If you sell the new 99 yr lease is about £1000 so you will pass this onto the new owner for their new lease.

Hi the 2nd link is not correct.
.
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Don't know what happened there - looks like I inadvertantly copied and pasted more than I'd thought.

Thanks - I'll sort it out.

....sorted!

Hi all

I have had an email from Zeiad and it sounds like he is away, hence no replies to emails. He gave me a quick response to an email I sent him which stated he will look into as soon as he is back in Sharm xx

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Hi Suzi - I dont know all he said was he would be in Sharm after tomorrow and he sent the email today xx Could well be xx

Zeiad has been in Alexandria all of this week as his mother is sick; he is watching his email and dealing with the most important issues. He will be back at work before the end of the week.

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