Lawyers, Bank Accounts, Making A Will - Page 5

queenie40something · #41 25-04-2008, 06:46 AM

Hi I have merged the last 3 posts into this thread.

queenie40something · #42 25-04-2008, 06:50 AM

Quote:

Originally Posted by Jef1

Thanks Lovesquadsue
Were you advised that this procedure is sufficient? I just want to be sure that I can easily take my money out of Egypt when the time comes for me to sell.
Did you receive any legal advice about this and if so would you recommend them?
Like many people I am a little nervous and want to make sure I don't make any mistakes that's going to cost me!

Hi we also made payments via our bank ( Natwest ) and the cost was about the same per transaction. I highly recommend Zeiad as an excellent English speaking lawyer based in Sharm. You mat find his thread helpful http://www.totallyproperty.com/egypt...rty-egypt.html and he is always on hand to answer any questions or queries that you post in the thread.

Regards

Alison

flip · #43 25-04-2008, 09:02 AM

With banks accounts for people livinbg outside of Egypt what is the best rate of interest you have seen advertised or been offered??

Apart from known banks like HSBC or Barclays what other banks are there???
and can we use them?? as they may offer better rates?

Do they offer us credit cards if we need them?

Thanks for your help.

lovesquadsue · #44 25-04-2008, 09:05 AM

Well I believe that a solicitor would get the money from the buyer into their client account and then transfer to you.... if that makes sense!
I havent heard of any problems and most people use HSBC over there now dont they.
Where abouts have you purchased and on which development? (or are you thinking of if not done so yet!)

flip · #45 25-04-2008, 09:15 AM

What are the interest rates offered by these bank accounts???

queenie40something · #46 25-04-2008, 09:28 AM

Quote:

Originally Posted by flip

What are the interest rates offered by these bank accounts???

To give you an idea of the interest rates see here for the Central Bank of Egypts current rates Central Bank of Egypt here for the World Interest rates table World Interest Rates Table

See here for the cards offered by Barclays Barclays in Egypt
Here is an article about the rise in interest rates in Egypt Egypt hikes interest rates to tackle inflation - Politics & Economics - ArabianBusiness.com

Here is a list of banks Banks & ATMs Egypt

flip · #47 25-04-2008, 10:40 AM

Quote:

Originally Posted by queenie40something

To give you an idea of the interest rates see here for the Central Bank of Egypts current rates Central Bank of Egypt here for the World Interest rates table World Interest Rates Table

See here for the cards offered by Barclays Barclays in Egypt
Here is an article about the rise in interest rates in Egypt Egypt hikes interest rates to tackle inflation - Politics & Economics - ArabianBusiness.com

Here is a list of banks Banks & ATMs Egypt

Thanks for the info

queenie40something · #48 25-04-2008, 10:59 AM

Hi Flip - your welcome. I opened my Sterling and LE accounts at MISR Bank Banque Misr| Accounts and Deposits

Sveta and Sergio · #49 14-05-2008, 12:33 AM

hello,
we are new here. we are looking at buying a holiday home in hurghada we met with a couple developers about two moths ago. one asked of the companies asked us to send the deposit to the united kingdom. we asked a attourney that we met with in hurghada about this, and he said this is against egyptian law for a developer have money sent out of the country for a property being biult in egypt, and that the egyptian govermnent is starting to investigate anyone doping this, and to take all there property. has anyone else been asked to send any of there payments out of egypt. can anyone recomend a good honest develper company?
Thank you.
svetlana and sergio and two cats

Rytcher · #50 14-05-2008, 06:31 AM

Sveta,

I do not see anything unusual with such a request. Many of the investment projects are operated on the basis of the escrow account which is held by the escrow agent - usually it is a bank. And it is any bank and it could be located anywhere in the world. In most of the cases I came across those banks were located in Germany and UK, but there could be other locations. Put the word escrow in the search form and you will find allot of info on this in the forum.

It may be even simpler - the developer prefers to operate through a foreign bank...

Quote:

Originally Posted by Sveta and Sergio

hello,
we are new here. we are looking at buying a holiday home in hurghada we met with a couple developers about two moths ago. one asked of the companies asked us to send the deposit to the united kingdom. we asked a attourney that we met with in hurghada about this, and he said this is against egyptian law for a developer have money sent out of the country for a property being biult in egypt, and that the egyptian govermnent is starting to investigate anyone doping this, and to take all there property. has anyone else been asked to send any of there payments out of egypt. can anyone recomend a good honest develper company?
Thank you.
svetlana and sergio and two cats