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Working for US company while living in Cairo

I have read that I would need a work permit to work in Cairo. What if I am hired through an American Comoany and am working remotely while living in Cairo. Would I still need a work permit? Is a work permit only  required if I am working for a company in Egypt?
If I was to apply for residency would that be sufficent enough to to work in Cairo or is a work permit required?

Thanks for your help

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