Where is my money?

In Egypt the culture about 'lending' money is totally different than countries in as Europe or elsewhere. When you don't have any cash anymore, there will be always friends of relatives give it to you for a certain time. Mostly there is not too much pressure to give it back, and sometimes people even forget it. If the amount is big, for sure, you will not forget. And as soon as you need the money yourself, you go ask it back. This is where the hard time starts. As Egyptians have strong family boundaries, mostly it get solved by one of them. If this option is not there, they just don't answer call and messages anymore to avoid the pay back.

Expats and residents are an easy target to become a 'personal bank'. This can happen in marriage, or in companies by big promises making good business for you so it will earn your money back. Unfortunately you will not see it back anymore. As in Europe we have collection agencies, you will not find it here. Your money is gone, and you can only hope for the best. Hunting your money is exhausting and frustrating. So what to do, and how to solve it?

The fist thing is: don't get trapped in being a bank for others. Easy to say, when you really trust someone, like your orfi husband or good friends. Also marriage gives the spouse the right to share all you have. This will be convinced to you. Wrong: in case of unofficial orfi, this is not true. But for sure your husband will tell you this. And second: the request for your money becomes urgent, when you split up or want to go back to your home country.

What to do?

As expat lawyers, we have many clients, asking our advice. Especially older women, who had an orfi marriage. But also investors, who believed in the nice dreams and promises to make good business. So first thing is just don't do it. This is easy to say, I know. So practically: not sign any contract, when it involves a big amount. Let you advice by a good lawyer. In case of personal loans, you can make a receipt. This books you can buy in any book store.

The rules for starting companies based on a share of 49/51 (49% percent you be the owner, and 51% an Egyptian) is not always necessary. Even when you let it sign up at notary or Shar Al Akari gives you a hard time to collect your investment. Never lose your receipts and contracts. Still this not a quaraintee to claim a refund.

Resident lawyer

Mr. Tamer Afefe, higher court lawyer, well known as The Resident Lawyer is a high class lawyer, with personal concerns of residents. He solved many cases before, although it seemed there were no legal rights at all. The way he acts, is fast and accurate. He will inventory your problems and tell you exactly the steps you need to follow. Also he will give you insight of the costs for his help, before you start working with him. Lately we got requests from clients, to get money back from ex-es, which happened 3 years ago, without any proof that the money was give. This will be very difficult. So if you deal with this problem now, please notice that you have a receipt or bank statement that shows the transfer. Never give it in good trust, just like that, cash. Be sure you thinking helping someone, but also calculate that you give it voluntary, despite of refund. See it as your gift and don't expect to see it back.

The procedure

When the amount is 5000 or more, it is worthwhile to get legal advice and support. The lawyer will represent you in police, court and the environment of your ' thief'.

The approach of all this can be done even without your presents, by Power of Attorney. That means that you not need to be there yourself, so if you went back to your home country or are scared of confrontations, all will be taken care of. Maybe it cost you some money for this service, but be sure Mr. Tamer is a pittbull in this cases. Not give up and defend your rights. As he is personally concerned, he also will take care of your safety. More then 200 cases he won in court. In fact, losing one, is not his style, and never happened. Yes, he is critical before he will accept to become your lawyer, but if you followed the rules I described above, then you get your money back, definitely!

Written by: Marjan Anna Mike, Dutch European Family Laywer and Mediator at Expat Laywers Group. 01/03/2021