Cabinet signed off on granting citizenship to foreigners who either buy property or invest in Egypt, making good on a promise floated last year as the nation looks to bring in hard currency. Under the law, foreigners could become citizens either by purchasing state-owned property worth at least USD0.5mn, investing at least USD0.4mn with an ownership stake of no less than 40% of the project capital, or depositing cash ranging from USD0.25-1 into a local account. Those ponying up USD0.75mn could withdraw the funds in local currency after five years, without interest, while depositing USD1mn allows for a withdrawal after three years, also interest-free. A USD0.25mn deposit, however, is non-refundable and goes directly into state coffers.