# Business Owners



## Shaanz (Aug 12, 2009)

Hi all,

I am contemplating starting up my own business, i wont say what it is, but I will say that it will be targeted as expats, such as me. I have been reading a lot of complaints about people being ripped off (myself included) and I thought why not? Maybe I could bring something positive to the fore. 

So the thing is, I want some advice from any of you out there who already own/run a business. How did you go about the setup? Was it difficult and as tedious as I think it would be? What about the paperwork and such, did it take a long time to process?

Im no pro at these type of things, I have done my research. But i would like to hear from those with first hand experience in the matter.


Oh and please feel free to pm me.

Thanks in advance
Shaanz


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## Sam (Aug 27, 2009)

Shaanz said:


> Hi all,
> 
> I am contemplating starting up my own business, i wont say what it is, but I will say that it will be targeted as expats, such as me. I have been reading a lot of complaints about people being ripped off (myself included) and I thought why not? Maybe I could bring something positive to the fore.
> 
> ...


I have limited knowledge on the matter, but I'll try. As far as I am aware there are two types of company you can set up, either a "joint stock company" or a "share recommendation company" (or limited liability). If I remember correctly the joint stock company can only be set up if one or more of the partners is Egyptian, but don't quote me on it. If you do have an Egyptian partner I believe the process is much, much cheaper and easier. Please don't quote me on this though as it has been a while since I learned about these issues, I don't deal with company establishment often.

I would recommend you speak to a lawyer or a chartered accountant who could advise the process better than me and time-frames, costs etc.

I'm afraid I have not set-up a business so I cannot give first hand experience, but many expats here in Sharm have so I'm sure the process can't be that stressful.

Sam


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