Governor of Luxor 2nd general meeting with ex-pats in Luxor

[Major Thom]

Regarding doing your bit for Luxor, I presume the Social Media outlets get pounded day after day, but the fact is sites like Facebook only generate 3% of business, that's a fact. All this about pressurising Countries to fly empty planes will just do no good at all. Look at ourselves, if we are down we pick ourselves UP, we don't rely on others. There are many large tourist companies, why don't they join forces charter some aircraft and run European routes themselves. I think many are devoid of good ideas, and because these ideas get thwarted by the hierarchy, nothing gets done. A shame really. There have been many people that have forwarded good and cost effective ideas on Luxor, but they just get tossed in the bin, because it's new and not understood, or because the idea was put forward by a foreigner.

[Horus]

Sorry forum members but I am not a cat lover at all. Had a nasty accident with one when a child, that. Put me off them.

And I bet that in the hospital when they were trying to get it off, you said that you had slipped while soaping yourself in the bath.

[newcastle]

Sorry forum members but I am not a cat lover at all. Had a nasty accident with one when a child, that. Put me off them.

And I bet that in the hospital when they were trying to get it off, you said that you had slipped while soaping yourself in the bath.

That's what Richard Gere said about his hamster

[Bombay]

just pointing out by what you call trawling through posts how things have changed in Luxor Bombay, by reading through this thread you will understand things have not changed but in actual fact got worse.

How have they got worse if they haven't changed?

[Major Thom]

Like you said yourself Bombay the business's that have closed, the Airport Shops no longer there, the rise in poverty, the visa situation, the only improvements are not improvements that concern local people and tourists, such as Television Street Bus Stops, Cameras at Junctions, all money earners. I don't mind the cameras but the licks think they are traps to get money from them, and service buses seem to be exempt anyway.

[carrie]

OK then I will ask the improvements that do not affect locals or tourists MT please tell us what they are and who they do affect?

[Major Thom]

If the bus shops were adhered to traffic problems in TV street would not build up allowing people to cross the street safer, walk on the road safer, because they would see where bus stops are and know to avoid the areas for walking in the road. You cannot salmon the pavements they are too poor ancient full of trip hazards. Tourists has well as locals use TV Street. Basically there have been no improvements so Locals and tourists are all effected. Who thought of the idea putting a sook at the entry to an historic site so tourists have to run the gauntlet of hassle before they even enter the site. Pathetic really, and everyone virtually runs through. Public toilets or the lack of them, they effect tourists more than locals who are prepared to hang out in the river. What am I doing rising to this? God knows!

[Who2]

Oh! well not long to go, and you can have a p*ss in some a/c public loo downunder, bet you'll find it's full of crack-heads and no loo paper...enjoy!....

[Who2]

Just heard, and probably another Egyptian rumour that all ex-pats have to place a multi $$$$ bond in the banks.
Well, it's probably just another rumour but I can prove I have put over £300k through their banks and spent as much on booze.
Who the f*** dreams up these mad ideas ?....

[A-Four]

Just heard, and probably another Egyptian rumour that all ex-pats have to place a multi $$$$ bond in the banks.
Well, it's probably just another rumour but I can prove I have put over £300k through their banks and spent as much on booze.
Who the f*** dreams up these mad ideas ?....

I could be wrong here Dr, but your informer in Luxor may have got this mixed up, which as you know, is often the case there, and we all like gossip,........well, I certainly did, when I was there. I would often check my watch to see how long such rumours got back to me, and what new clothes they had gathered.

Anyhow, I suspect it has more to do with an idea going around government circles to allow foreigners to take up long term visas of five years, after which the person can apply for Egyptian citizenship.

Now, before you lot start to get giddy and excited, and who knows even have a small accident,.........this is for people who invest in Egypt. Although a price has not yet been set, the House of Representatives has gone nuts about the whole idea of citizenship for Awajas.

For my money, it seems more like an Arab version of offering refugee status,.........well, to those who have money anyway. .

[Major Thom]

This sounds a bit like "I will sell you 2 Kirat of land for 6M Most have put thousands into Egypt during the past decade, now they want to squeeze more. Wonder what the offer is in return?

[newcastle]

Cutting to the chase :

Ahram Online , Wednesday 3 Aug 2016

Egypt says it has sent a draft law regulating the residency of foreigners upon which investors can obtain temporary residence permits for legal review, in preparation for referring the amended legislation to parliament for final approval.
Under the new amendments, investors would be required to make a deposit in foreign currency into Egyptian banks in order to receive five-year residence permits, the cabinet said in a statement late on Tuesday.

"It is a new type of residency that aims to make it easier for investors," cabinet spokesman Hossam Gawish said.

After five years of their stay in the country, investors can also apply for the Egyptian nationality, Gawish added.

Several MPs and other critics have objected to the nationality article, with some arguing that the "Egyptian citizenship is not up for sale" while others demanded tougher preconditions be imposed on foreigners to obtain it.

The certain amount of deposit required to be placed by investors has not been set yet.

The draft law has been referred to the State Council, a judicial advisory body, for legal review. It will then be sent to the parliament for final ratification.

Egypt's economy has been hard hit since the 2011 revolution and the ensuing political turmoil has scared off tourists and investors, two key sources of hard currency.

In January, Egypt's parliament approved a long-awaited law on investment aimed at making deals less vulnerable to legal challenges and cutting out stifling bureaucracy.

The law has caused major controversy since it was passed by the cabinet, with critics alleging that it would open the door to corruption by restricting appeals to only the parties involved: the government and investors.

http://english.ahram.org.eg/NewsContent ... tors-.aspx

Opening session of Egypt's House of Representatives in January 10, 2015
Al-Masry Al-Youm

Seventy MPs have announced their outright rejection of a bill submitted to parliament by MP Mahmoud Attia granting Egyptian nationality to foreigners who deposit US$5 million or more in an Egyptian bank.

The 70 MPs submitted a request the speaker of parliament for the bill to be dismissed without even the normal reading given to draft laws.

According to the bill, any foreigner who deposits $5 million in an Egyptian bank would be granted a temporary residence permit in Egypt for years in the first instance. At the end of five years, depending on a legal review, they may be granted Egyptian nationality as a second step.

The bill is partly intended to bring in much-needed foreign currency to Egypt, helping to alleviate the currency crisis that has been hampering business activitity.

However, the 70 MPs claim that it represents an "illegal trade in Egyptian nationality", saying there are alternative ways of increasing foreign currency reserves.

They warned, meanwhile, that such a law could be exploited by foreign nations, such as Israel, as a means of increasing their espionage activities in Egypt.

MP Mostafa Bakry described the bill as "very dangerous for national security".

"The difficult economic conditions should not be a reason to abandon the fundamentals of national security, especially since private investment by proxy has become commonplace in the world to achieve hostile political goals," he said.

Bakry rejected the idea of the bill completely, describing it as unacceptable.

MP Abdel Moneim al-Aleimy also rejected the bill, saying a nation's nationality is "sacred" and should not be up for sale.

"Egypt is not for sale," said MP Bedeir Abdel Aziz.

An increasing number of countries are offering citizenship in return for investment, seeking a "win-win" proposition in an attempt to boost the nation's economic situation.

High-net-worth individuals perceive purchasing citizenship or residency rights as a legitimate privilage of wealth, along with greater global mobility (visa-free travel in many countries), tax planning and family security.

Meanwhile, those nations granting citizenship to the rich reap the rewards in terms of increased cash-flow.

According to the IMFdirect blog, the United Kingdom, Switzerland, the United States, France, Spain, Cyprus, Malta, Australia, Hungary and Bulgaria are among the 23 countries around the globe that offer the so-called citizenship-by-investment.

http://www.egyptindependent.com/news/mp ... rn-dollars

[A-Four]

This sounds a bit like "I will sell you 2 Kirat of land for 6M Most have put thousands into Egypt during the past decade, now they want to squeeze more. Wonder what the offer is in return?

Oh that nothing MT, a certain Mr Hussein Salem, a business tycoon cleared off out of Egypt during the troubles and took over $750,000,000 with him. As you would expect, he is quite elderly and obviously misses the old country, so believe it or not he has struck a deal, hands over $500,000,000 to the government and in return gets a pardon.

I am told you can buy an awful lot of Couscous with the remaining quarter billion.

And the money kept rolling in from every side,
Sisi's pretty hands reached out and they reached wide,
Now you may feel it should have been a voluntary cause,
...........but that's not the point, my friend. .

[Dusak]

I posted on this this morning not knowing it was on the end of this one so Horus can remove mine if he wishes. I don't read this one as a rule cos it is based on an old post, something that doesn't generally interest me. And newcastles is far superior to my mumbling.

[Glyphdoctor]

You can get permanent residency and eventually citizenship in the US with as little as $500k investment in a business in a disadvantaged area. And the quota of visas for each year doesn't even get used up so it's ready for the taking for anyone who is willing to do the paperwork and the business planning. I know an Egyptian even who did it. Who with $5 million would invest it in Egypt just to get a five year visa and maybe a chance at a passport that doesn't let you travel very many places without a visa?

[newcastle]

"They warned, meanwhile, that such a law could be exploited by foreign nations, such as Israel, as a means of increasing their espionage activities in Egypt.

MP Mostafa Bakry described the bill as "very dangerous for national security".

"The difficult economic conditions should not be a reason to abandon the fundamentals of national security, especially since private investment by proxy has become commonplace in the world to achieve hostile political goals," he said.

Bakry rejected the idea of the bill completely, describing it as unacceptable.

MP Abdel Moneim al-Aleimy also rejected the bill, saying a nation's nationality is "sacred" and should not be up for sale.

"Egypt is not for sale," said MP Bedeir Abdel Aziz."

(Unless you're talking about 'islands' )

What planet are these MP's living on?

I can't see any "foreign elements" wanting to cause mischief in Egypt going down the path of investing $5 million. and waiting 5 years, in order to do so

[Major Thom]

So is Egypt for sale or not, it's a bit like prostituting a Country that is virtually Bankrupt, money is needed so bad. That's what they seem to be saying. The trouble is, All these different ideas and suggestions, are telling this to the World. What about people like Dusak and the Doctor who have already invested thousands if not millions into the Egyptian economy and are likely to be added for more, judging by what is being said. Can you imagine if the UK said to foreigners you can live here but you will have to purchase property and have a Bank account containing £50,000, there would be uproar, and that would be among British people. Also what protection of your investment would you have? The laws and rules change in Egypt every day, so you can move your money and buy property on a Tuesday, and on Wednesday the law will be changed, so not really any form of security at all, to either business or private investor. I could not give anything to this place anymore and would not even consider it, I employed two people at one time because we have changed our future their jobs have gone, our imput to the local economy is well over 1500LE per week. Forget Cairo and think of Luxor, that's two people lost their jobs, and 6000LE taken from the economy every year, but there come a time in everyone's life when your security during retirement is threatened, so to us what Egypt has cost us we are prepared to put down has a loss, and then start to enjoy ourselves again. Because the Internet and communications are still in their infancy in Egypt, they do not realise the stories getting out to the rest of the world, either from Toursts or Media, and it's these stories which really put investors off. I appreciate and so does everyone else on this forum that Egypt is a third world Country, but unless it opens itself up in the proper manner it will never get investment throughout the Country, only offers of borrowed money, that has to be paid back. Of course the other thing you need to be aware of is any future devaluation of the Egyptian Pound, remember it's not a hard currency, and only linked to the dollar by concept.