Diving Center Egypt To Buy

[Uschi]

HELLO

WE WANT TO BUY A DIVING CENTER IN EGYPT; HAS ANYBODY AN IDEA?
we also are interested on an cooperation with others or to build a new object.
if anyone has information, please send us an emil:
2fast4y@aon.at

many greetings, liebe grüsse from austria
uschi

 

[mania]

Well this is rather a difficult task. According to Egyptian law almost every business has to have an Egyptian partner. In case of a diving centre you also have to have more than 50% of employees Egyptian. As for the first rule - you may try to have it without Egyptian partner but it's a very long proccess - usually obtaining the permission takes more than a year with a very good local lawyer. I have a friend who is Austrian (from Vienna) and she was planning to invest in the diving centre in Sharm el Sheikh - if you want I can contact both of you.
As for the second rule - diving centres as well as all tourist business are tax free nut only under the condition described above. Otherwise you have to pay rather high taxes which makes the business not worth it. One more thing - at least in Sharm they don't give any more licences niether for centres nor for the boats. So even if you buy the centre that has a licence you will still need a lawyer to get this licences rewritten on your name.
This is just a short review of the legal situation - I have a more detailed one if you need.
Mania

 

[britkiwi]

I haven't dived in Egypt for a couple of years but have been several times. From memory there is a tremendous amount of competition. With the excellent advice above would it be worthwhile looking into more untapped area of the dive market, possibly with a more stable political situation?
Roger

 

[Uschi]

hello mania,

thanks for your answer. we know, that there are a lot of problems for us, but we have an egypten friend, who will do this with us together (sorry for my english, we are austrian...)
if your friend will contact us, it would be very very nice. the best we´d like is to open a diving center in the near or south of hurghada, not sinai side. but we are open for all.
liebe grüsse aus österreich
uschi