How to send money to Egypt in 2026: dollars, pounds and a flat by the sea

The Egyptian pound has floated since March 2024, currency can be kept in an account, and a foreigner pays for a flat in foreign currency through an Egyptian bank. In 2026 a home from $50,000 gives a 1-year residence permit, from $100,000 3 years, from $200,000 5 years. Account details, rate and documents by amount.

In 2026 you can send money to Egypt by international bank transfer in dollars or euros to the recipient's account at an Egyptian bank: the money takes 2-5 business days and stays in the currency if the recipient has a foreign currency account. Since 6 March 2024 the Egyptian pound has floated, so the bank exchanges dollars at the same market rate as the whole market, and the gap between rates is a thing of the past. Home buyers in Hurghada, Cairo and on the coast pay for a flat in foreign currency through an Egyptian bank, and the bank's letter confirming money arrived from abroad then opens the way to a residence permit.

Pounds are converted into dollars at the Central Bank of Egypt rate on 7 October 2026 - 52.32 pounds per dollar - and rounded up; the transfer routes were checked on 8 October 2026.

One market rate: what changed for transfers after 2024

Until spring 2024 the pound's bank rate and market rate differed noticeably, and a transfer in pounds lost part of the sum on exchange. On 6 March 2024 the Central Bank of Egypt let the rate float, and since then the price of the pound is set by supply and demand. For the sender this means something simple: a bank transfer is again the most favourable and most convenient route, and the bank rate matches the market rate.

Anyone has the right to hold foreign currency and to transfer it into and out of the country through banks - this is set out in Article 212 of the 2020 Central Bank and Banking System Law. So the recipient does not need to change dollars straight away: in a foreign currency account they stay in dollars, and pounds are bought as expenses arise.

Egyptian pounds to dollars: how much it is now

At the rate on 7 October 2026:

• 1,000 pounds is $20;
• 10,000 pounds is $200;
• 100,000 pounds is $2,000;
• 1,000,000 pounds is $20,000.

The bank rate for a specific operation differs from the Central Bank rate by a few piastres, so a large sum is better kept in dollars until the payment day, exchanging exactly as much as is needed for the pound account.

A transfer to a non-resident in Egypt: a foreign currency account at an Egyptian bank

An Egyptian bank opens an account for a foreigner with a passport and a valid visa or residence permit, if there is a confirmed address in the country: a lease or a document for your own flat. In August 2024 the Central Bank of Egypt separately confirmed that accounts may be opened for non-residents. The first deposit to a current account is from $50 (2,500 pounds) or 100 units of foreign currency.

It is most convenient to keep two accounts: a foreign currency one for incoming money from abroad and a pound one for living in the country. From the pound account, instant transfers within Egypt work by phone number and card:

• up to $1,400 (70,000 pounds) per transaction;
• up to $2,300 (120,000 pounds) a day;
• up to $7,700 (400,000 pounds) a month.

They require a debit card from an Egyptian bank and an Egyptian phone number. The bank is chosen for the purpose: for life on the coast, branches in Hurghada or Sharm El Sheikh matter; for buying a flat, experience with developers and letters confirming receipt of foreign currency. We will suggest the best way to send money to Egypt and carry out the first payment through licensed partners.

To a private person in Egypt: what to send the sender

A transfer to a private person goes to their account at an Egyptian bank by the 29-character international account number: two country code letters, two check digits, four digits for the bank, four for the branch and seventeen digits of the account itself. The sender needs:

1. the recipient's name exactly as it is recorded at the Egyptian bank - in Arabic and Latin spelling it must match the passport;
2. the 29-character international account number and the bank's international code of 8 or 11 characters;
3. the account currency: dollars, euros or pounds;
4. the payment purpose: family support, rent, payment for a flat under a contract, studies.

If dollars are sent to a pound account, the bank converts them at its own rate, and the recipient sees pounds. For the money to stay in dollars, the details are taken from the foreign currency account. For small sums to family a money transfer service also works: the recipient collects the money in pounds with a passport.

A flat in Hurghada or Cairo: paying in foreign currency through an Egyptian bank

Buying a home by the sea is the main reason for large transfers to Egypt. A foreigner pays for a flat in foreign currency through an Egyptian bank, and the bank issues a letter stating that the money came from abroad. This letter is needed twice: when registering the deal and when applying for a residence permit. A square metre in Hurghada costs from $1,000, on the seafront from $1,800.

Two properties, up to 4,000 sq m, sale after 5 years

Under a 1996 law a foreigner in Egypt owns two residential properties, each up to 4,000 sq m, and sells them 5 years after purchase. For a flat in a residential complex these limits are hardly noticeable in practice, while for a villa with a plot they are checked before the contract.

Sharm El Sheikh and other Sinai cities: long-term usufruct

On the Sinai Peninsula a foreigner takes a home in long-term usufruct rather than ownership. The payment goes the same way, through an Egyptian bank, but a lawyer checks the contract and the term of use separately.

A residence permit for a flat: from $50,000

Egypt grants a home owner a residence permit under a 2023 order of the Minister of Interior, with terms in 2026:

Citizenship is granted for buying a home from $300,000 paid in foreign currency from abroad; in detail in how much Egyptian citizenship costs and on the Egyptian passport page. How to choose a flat and check a developer is in how to buy a flat in Egypt. The deal and the payment are best planned together: a manager will check the contract and the payment route, so that the bank's letter works both for registration and for the residence permit.

If the sum comes from several sources - selling a home in your country, savings, money from family - each source is confirmed with a document before the transfer. Then the Egyptian bank credits the money without questions, and the letter confirming receipt is issued straight away.

How many papers an Egyptian bank will ask for

Up to $10,000: for family and life by the sea

Family support, rent, living expenses: the payment purpose and a matching recipient name are enough for the bank.

$10,000-$100,000: the first instalment for a flat

The first instalment for a flat, a car, studies: the bank will ask where the money comes from and request the sender's account statement or an income certificate, and for a home, the contract with the developer.

Over $100,000: the full price of a home and citizenship

The full price of a flat or an investment for citizenship: you need a package on the origin of the money over several years - a sale of property, income, tax documents - and the contract. Here each payment is tied to the bank's letter, and the package is best put together before the first transfer: tell a specialist about your sum, and they will say which documents the Egyptian bank will accept. How to put the package together is covered in proof of source of funds and moving home sale proceeds abroad; the whole path of capital is on the capital relocation page.

Taxes in Egypt: interest tax-free, 2.5% on selling a home

Transferring your own money to Egypt is not taxed, and interest on private individuals' deposits at Egyptian banks is also tax-free. Income tax for a resident is from 0 to 27.5%, and the first $770 (40,000 pounds) of income a year is tax-free. When selling a flat, the seller pays 2.5% of the full deal price with no deductions. Rates and residence are covered on the taxes in Egypt page.

The way back: from Egypt home and to the Emirates

Money from an Egyptian foreign currency account goes abroad by an ordinary bank transfer in dollars or euros. Most often it is sent to the Emirates, to Turkey and to Kazakhstan: it takes 1-5 business days.

Money from selling an Egyptian flat is taken out after paying the 2.5% tax and with the sale contract in hand: the bank sees where the sum comes from and sends it without delay. A large payment is covered in sending a large sum abroad.

Sending money to neighbouring countries

• How to send money to the UAE
• How to send money to Palestine
• How to send money to Israel
• How to send money to Cyprus
• How to send money to Greece
• How to send money to Jordan

All destinations and the general procedure for moving capital are in the capital relocation section.

FAQ