Originally posted on ArabianBusiness.com. Pretty much sums up why the United Arab Emirates is not the right place to build a long term future for the average investor.
With greetings from Malaysia
Posted by Saeid on Saturday 17 July 2010 at 10:28 UAE time
We left the UAE two months ago and already have a SDN BHD(equivalent of a LLC) in Malaysia.
It costs 2600 Dhs to start a business in Malaysia. Another 8000 DHs/ year for hiring two resident Directors. You will be the sole signatory of the company and will hold 99% of the shares. The other 1% can belong to who ever you want, even some one in another country. If you buy a shelf company which is what we did, it takes roughly 2 hours. And you're ready to go.
After getting your residency, you can be one of the Directors and when your spouse gets hers, then she can be the other. It will then cost about 400 Dhs a year to renew your license.
There are no employee visa issues here. There are plenty of Malays, Chinese and Indians who are looking for work. And they have great work ethics.
The retail space rentals are very cheap here. You will not make as much money as you once did in the UAE. But even in the UAE you will not make what you once did.
You will not have to have a place of business, such as an office, a shop, a warehouse,etc. You can work right out of your home if you need to and then expand as time goes on. The residential rental fees are very cheap too.
If some one is looking for employment, they should still consider the UAE, as there still is a job market there. But as an investor or a Start Up, I think South East Asia should be considered seriously.
As some people have suggested recently, Singapore seems like a great place too.
Another thing I can tell you about Malaysia, there are rules as to how things get done here. They have been in place for years, they make sense, and they don't get changed over night.
All that aside, the most important thing is, you will be respected as a human being.