Egypt introduces new regulations for importing cars for personal use
Updated 12/26/2024 1:46:00 PM
Arab Finance: The Egyptian Ministry of Investment and Foreign Trade has announced new regulations governing the customs clearance process for cars imported for personal use, effective Thursday, December 26th, as per a statement.
The measures aim to streamline the process and ensure compliance with financial and procedural requirements.
Under the new rules, individuals are restricted to importing a maximum of one car within a five-year period.
Additionally, importers must provide a bank statement demonstrating their financial ability to purchase the vehicle and cover its full value.
Payment for the car must be processed exclusively through approved banking methods via banks operating in Egypt.
Exceptions to this rule apply to cars purchased by diplomats and Egyptians working abroad, whose payments were made outside Egypt.
The Ministry clarified that the regulations will not affect vehicles already shipped or those that have arrived at Egyptian ports before the policy’s implementation.
Similarly, cars for which documentary credits have already been opened and those imported for foreign embassies or international organizations are also exempt from the new requirements.
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