The costs of acquisition at Ancient Sands Resort are outlined below. We recommend that you consult your lawyer, accountant or other professional for tax advice.

Purchase Costs

Purchase costs for real estate in Egypt are low and in some cases may not apply

• Stamp Duty: EGP 1 per page of contract (approx US$ 20)

• Property Registration Fee (if you register your property ): Up to EGP 2,000 (approx US$ 400)

• Legal Fees (If applicable): Circa US$1,000

Ongoing Costs

Ongoing costs for property at Ancient Sands Resort include service and maintenance charges, property tax and if you are renting your property includes income tax.

Income Tax (NB Only 50% of the gross rental income is taxed.)

• Up to EGP 5000 > 0%

• EGP 5000 – 20000 > 10%

• EGP 20000 – 40000 > 15%

• EGP 40000+ > 20%

Annual Property Tax (if applicable)

• Est from EGP 2,500 per annum dependent upon unit size. (Equates to notional rental value of the property i.e. one month worth of rental income from the property as assessed by the Hurghada Administration.)

Service & Maintenance Charges

• Estimated EGP 90 per square meter per annum. (Services include, but are not limited to, public landscaping maintenance, garbage collection, water supply, sewage and electricity maintenance and security. NB this charge does not apply to participants in the rental management programme)

Resale Costs

Resale costs for the disposal of property in Egypt are relatively low.

• Wealth Tax: 2.5% of sale proceeds (Please note, companies are exempt from this tax)

• Agents Fees (if applicable): 2.5% to 6% (This rate depends upon whether a local or international realtor is selected)

• Inspection Report (if applicable): EGP 5,000 (approx US$ 900)