Egypt · Business Banking
Opening business and personal bank accounts, remote options, required documents, and fees.
AI-drafted, editorially reviewed. Confirm specifics with the official authority.
Egyptian banking offers conventional and Islamic accounts. Foreigners can open an account with a passport, a valid visa or residence permit, proof of address and a minimum deposit; local and foreign-currency accounts are available. The Central Bank of Egypt regulates banks.
Banks are regulated by the Central Bank of Egypt (CBE). A company needs its commercial-registry and tax records to open a corporate account.
- The CBE licenses and supervises banks operating in Egypt.
- Opening a corporate account requires registry, tax and owner documents.
- Both conventional and Islamic banking are available.
- 1
Confirm your status and documents
Foreigners need a passport, a valid visa or residence permit and proof of a local address; some banks also ask for an employer letter or proof of income.
- 2
Choose a bank
A major bank (CIB, QNB, NBE, Banque Misr) offering conventional or Islamic (Sharia-compliant) accounts; you can hold Egyptian pound and foreign-currency accounts.
- 3
Prepare your minimum deposit
Many banks require a minimum opening deposit (commonly around 1,000–5,000 EGP or a foreign-currency equivalent).
- 4
Open the account in-branch and complete KYC
Accounts are generally opened in person; banks run identity and anti-money-laundering checks.
- 5
Activate the account and set up payments
Receive your card, register InstaPay / Fawry, and set up transfers and bill payments.
- Passport
- Valid visa or residence permit
- Proof of a local address
- Minimum opening deposit (commonly ~1,000–5,000 EGP)
- Commercial-registry + tax records + owner ID — corporate accounts
- Central Bank of Egypt (CBE)
Central bank and banking regulator.
Frequently asked questions
Can a foreigner open an Egyptian bank account?
Yes — with a passport, a valid visa or residence permit, proof of address and a minimum deposit; banks such as CIB, QNB, NBE and Banque Misr are commonly used.
Are conventional and Islamic accounts both available?
Yes — Egypt offers both conventional and Sharia-compliant (Islamic) banking; a local account also enables InstaPay/Fawry and utility payments.
Government portals
- Egyptian Tax Authority (ETA) — Income tax, VAT and e-invoicing registration for individuals and companies.
- General Authority for Investment and Free Zones (GAFI) — Company registration, the investment one-stop shop, and free-zone licensing.
- Egyptian Customs Authority — Tariffs, import and export clearance, and the Nafeza single-window system.