Egypt
The ISO code of Egypt is EG according to the ISO 3166 standard. The local name of the country is Misr. Egypt capital city is Cairo. People in Egypt speak the Modern Standard Arabic language. Around 3150 BC, Egypt emerged as a sovereign political entity. In the year 3150 BC, Egypt emerged as a sovereign political entity. The largest city in Egypt is Cairo.
Egypt is located in the UTC +02:00 time zone, which is also called Central Africa Time or CAT. The internet country code top-level domain (ccTLD) for Egypt is .eg. Other domains assigned to Egypt are مصر.. The International dialing code for Egypt is 20. People in Egypt drive on the right side of the road. Total land area of Egypt is 1,001,450 km² (approx. 386,660 mi²). Egypt is not a landlocked country. It means that is is bordered by at least one major body of water.
Egypt is located in Africa. Egypt is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Egypt faces various issues, including agricultural land being lost to urbanization and windblown sands, increasing soil salination below Aswan High Dam, desertification, oil pollution threatening coral reefs, beaches, and marine habitats, other water pollution from agricultural pesticides, raw sewage, and industrial effluents, limited natural fresh water resources away from the Nile, which is the only perennial water source, rapid growth in population overstraining the Nile and natural resources.
Doing business in Egypt
We offer various corporate services in Egypt jurisdiction. These services can serve both, people coming from Egypt and foreigners. If you plan on doing business in Egypt you might be interested in contacting us.
To find out about starting your business in Egypt click on company formation in Egypt.
To find out how to open a bank account in Egypt and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Egypt.
Choose preferred service below or continue reading to find out more about Egypt.
Demographics of Egypt
The total population of Egypt is 99,375,741 people. In Egypt, the population density is 89.58 people per square kilometer (233 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is almost uniform according to a fractionalization scale which for Egypt is 0.1836. Egypt has approximately 297448 foreign immigrants. The median age is approximately 25.1 years. In Egypt, 44.07 in every 100 people use internet. Egypt has a Human Development Index (HDI) of 0.682.
The majority religion of Egypt is Islam, Egypt is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Egypt.
Culture of Egypt
People in Egypt speak the Modern Standard Arabic language. According to data on inbound tourists in Egypt, 9,174,000 tourists arrive in the country each year. The first McDonalds in Egypt was opened on 20 October 1994, and it was located in Cairo. One of the most popular national dishes of Egypt is ful medames. To read more click on culture of Egypt.
Geography of Egypt
Egypt is considered to be a vast nation because of its total area. Its total land area is 1,001,450 km² (approx. 386,660 mi²). Egypt is located in Africa. Its capital city is Cairo. Egypt has 4 neighbouring countries. Its neighbours include Palestinian territories, Israel, Libya, and Sudan. Total length of land borders of Egypt is 2612 kilometers (~1,008 miles).
The highest point of Egypt is Mount Catherine, with its official height being 2629 m (8,626 ft). Including land mass and EEZ, the total area of Egypt is approximately 1,264,901 km² (~488,379 mi²). The most notable natural resources found in Egypt are petroleum, natural gas, iron ore, phosphates, manganese, limestone, gypsum, talc, asbestos, lead, rare earth elements, zinc.To read more click on geography of Egypt.
Economy of Egypt
The currency of the country is Egyptian pound. The symbol used for this currency is E£, and it is abbreviated as EGP. 12.1% of population in the country are unemployed. The total number of unemployed people in Egypt is 12,024,465. Each year, Egypt exports around $24.81 billion and imports roughly $59.22 billion. The Gini Index of the country is 30.8. Egypt has a Human Development Index (HDI) of 0.682.The Global Peace Index (GPI) for Egypt is 2.382. Egypt has a government debt of 45% of the country's Gross Domestic Product (GDP), as assessed in 2014. Egypt is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are textiles, food processing, tourism, chemicals, pharmaceuticals, hydrocarbons, construction, cement, metals, light manufactures.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Egypt is $946,591 billion. Each year, consumers spend around $207,137 million. The ratio of consumer spending to GDP in Egypt is 0%, and the ratio of consumer spending to the world consumer market is 0.48. The corporate tax in Egypt is set at 25%. Personal income tax ranges from 10% to 20%, depending on your specific situation and income level. VAT in Egypt is 10%. In 2013, Egypt received 1806.6 million USD in foreign aid.In 2014, the foreign aid amounted to 1414.4 USD.To read more click on economy of Egypt.
Infrastructure of Egypt
Infrastructure quality in Egypt is rated to be at 2.86. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.
In Egypt, 100% of the population has access to electricity. There are 200,430 internet hosts in Egypt. Egypt has 83 airports nationwide.
The logistics performance index of Egypt is 2.97. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Tracking possibilities for shipments are rated at 3.23. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
The number of road motor vehicles per 1000 inhabitants in Egypt is 13. To read more click on infrastructure of Egypt.
Politics of Egypt
Egypt, is a unitary semi-presidential republic. With regard to political and civil freedoms, Egypt is 3. Citizens in Egypt experience little to no civil liberties and political rights. Citizens are not free to express themselves and do not enjoy political freedom or a representative government. Countries with this political situation are dangerous for investment, as an authoritarian government may have outsize control over economic matters. The head of the government is Abdel Fattah el-Sisi.
According to the World Bank Group, the government effectiveness index of Egypt is -0.82. This indicates that the government of Egypt is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Egypt, the legislative power is vested in a House of Representatives. The Global Peace Index (GPI) for Egypt is 2.382. The strength of legal rights index for Egypt is 2. Overall, it is considered to be rather weak - bankruptcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible. In 2013, Egypt received 1806.6 million USD in foreign aid. In 2014, the foreign aid amounted to 1414.4 USD. Egypt is a member of the United Nations (UN). On 24 October 1945, it joined the UN at it inception date as a full member state. Egypt is one of the original UN member states who founded the organization. Egypt is a member of the African Union (AU). On 25 May 1963, it joined the AU as a full member state. Egypt is a member of the World Bank. To read more click on politics of Egypt.
Environment of Egypt
Egypt emits 2.6 metric tons per capita of CO2. 670 km² of Egypt's territory is covered in forests. and forest land comprises 0% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Egypt is 13. To read more click on environment of Egypt.
Company formation in Egypt
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Egypt.
When establishing a company in Egypt, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Egypt that will affect the establishment and growth of one's business. Contact us or click on company formation in Egypt to read additional information when setting up a business.
Bank account opening in Egypt
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Egypt. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Egypt, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Egypt or contact us.