8th June 2018
Egypt is certainly a destination of choice for contract staff at the moment. In fact, our data has revealed a real surge in freelance opportunities, with a 73% increase in contract professionals working in this location between January and May of this year.
A growing economy
Much of this increased demand can be attributed to a growth in economic positivity. According to last month’s Global Growth Projections report, released by The Centre for International Development (CID) at Harvard University, the country was ranked as the third fastest growth economy in the world.
In fact, Capital Economics’ most recent MENA Economics Update report also revealed that the Egyptian economy is expected to grow 5.3-5.5% between 2018-20, signalling the greatest expansion the country will have seen since 2011.
Amongst this air of positivity in the business community, demand for specialists to plug talent gaps has grown across the board. What we’re seeing is that this need for contractors is being reflected across multiple specialisms, ranging from pharma and technical engineering to solar energy and offshore oil & gas.
Contracting in Egypt: the legal bit
For contractors, and the agencies that place them overseas, Egypt is certainly likely to be a destination of choice in the near future. However, employment and tax compliance in this location can be complex, with all non-nationals required to apply for a work permit when entering the country for a job.
These can take around 50 days to obtain and the individual seeking entry will need to provide a range of supporting documents, including a copy of an experience certificate that has been authenticated by the Egyptian consulate abroad. It is also important to note that while a permit application is being submitted, you cannot be in Egypt under a visa.
While social security contributions only apply to Egyptian nationals, those freelance professionals that fall under this bracket who are operating under an employed solution will be required to have such liabilities covered in the agreed contract.
In order to ensure all parties are compliant with local legislation, partnering with a specialist international contractor management company is certainly advisable. Contact the team today.