How do you setup a legal company in somalia

[bigdogg]

My whole plan is to start a tech company (I'm still working. On learning JavaScript as I want it to be a web application all Somalis can use not just ones with phones) and hire talented Indian , Indonesian or vietnamese programmers the company will be HQ in hopefully near hafuun (Im hoping it will hopefully invite other foreign nationals to do the same there ..

The only thing I'm worried about is alshabab (since the only way to enter hafuun is through a one km wide spit of sand I'm hoping the pl militia will setup checkpoints ) corrupt officials and the most important how do I setup A COMPANY IN Somalia's stock market if they even have one

 

[Tjioux]

My whole plan is to start a tech company (I'm still working. On learning JavaScript as I want it to be a web application all Somalis can use not just ones with phones) and hire talented Indian , Indonesian or vietnamese programmers the company will be HQ in hopefully near hafuun (Im hoping it will hopefully invite other foreign nationals to do the same there ..

The only thing I'm worried about is alshabab (since the only way to enter hafuun is through a one km wide spit of sand I'm hoping the pl militia will setup checkpoints ) corrupt officials and the most important how do I setup A COMPANY IN Somalia's stock market if they even have one

there is no al shabab in haafun sxb

 

[bigdogg]

there is no al shabab in haafun sxb

OK but how do you setup a legit company that's registered

 

[bigdogg]

What doses he mean

 

[Shushue]

Do you know what a joint-stock company is and its obligations...?

 

[RasCanjero-]

What doses he mean

No such thing as a stock market in the great lands of Somalia.

No official way to register a company other than getting "permission" from the local warlord and hoping that they don't take further interest in your enterprise.

Khayre was referring to large companies that are making deals with the states.

No need to enter those deep waters.

Just register your company in the West or Dubai and register as a foreign business in Somalia.

That way you'll definitely have to pay taxes but you'll get a lot more protection from greedy officials and local warlords.

Also don't forget to donate to your sub clan and make sure you're paying off the right people.

 

[bigdogg]

No such thing as a stock market in the great lakes of Somalia.

No official way to register a company other than getting "permission" from the local warlord and hoping that they don't take further interest in your enterprise.

Khayre was referring to large companies that are making deals with the states.

No need to enter those deep waters.

Just register your company in the West or Dubai and register as a foreign business in Somalia.

That way you'll definitely have to pay taxes but you'll get a lot more protection from greedy officials and local warlords.

Also don't forget to donate to your sub clan and make sure you're paying off the right people.

Damm

I was hoping to HQ it in puntland is their any way to do it even in somalia I'll even accept somaliland

 

[RasCanjero-]

Do what?

One step at a time dude.

You've yet to even learn the skill you plan to shill and you're already talking about listing in Somalia's non existent stock market.

 

[Coulombs law]

First off before you even think of opening up a tech or whatever company in Somalia, MASTER your discipline.
There will be a time when push comes to shove and your employees and advisors will mess up, you have to be able to troubleshoot anything out of danger and avoid bankruptcy.

You are the Owner/Project manager, not some sort of investor/stockholder so all eyes will be on you for the first couple of years.

Second, find an investing partner who will be able to invest and build the company with you. Majority of the time when it comes to groundbreaking decisions you will always need second opinions and someone to critique your decisions and line of thought.

Lastly, educate yourself on the business side of the things, the business game is a whole another field and it is very easy to get burned if you aren't experienced.

Take things one step at a time. It seems like you don't know where to even start since your plan seems to be going all over the place LOL.

 

[bigdogg]

Do what?

One step at a time dude.

You've yet to even learn the skill you plan to shill and you're already talking about listing in Somalia's non existent stock market.

I gotta make sure the IP and name isn't taken in somalia but then again I'm taking about a lawless country

 

[bigdogg]

First off before you even think of opening up a tech or whatever company in Somalia, MASTER your discipline.
There will be a time when push comes to shove and your employees and advisors will mess up, you have to be able to troubleshoot anything out of danger and avoid bankruptcy.

You are the Owner/Project manager, not some sort of investor/stockholder so all eyes will be on you for the first couple of years.

Second, find an investing partner who will be able to invest and build the company with you. Majority of the time when it comes to groundbreaking decisions you will always need second opinions and someone to critique your decisions and line of thought.

Lastly, educate yourself on the business side of the things, the business game is a whole another field and it is very easy to get burned if you aren't experienced.

Take things one step at a time. It seems like you don't know where to even start since your plan seems to be going all over the place LOL.

Nah I've been researching for months but it isn't easy to google how to start a business in somalia and time goes by every minute and someone out there will go to market before me while I'm worrying about all this technical bullshit

Now I understand why somalia is ranked low in ease of business shit is hard asf to establish in a war zone

Also I got all the technical stuff down to the nail but I've asked around and it isn't easy being a one man army so I gotta setup the business fast

 

[Deactivated]

What do you mean by “Register”?

In Somalia there’s no insurance and contract litigation is dismal. If you want to register a business in Somalia, you need to register a trading company or Corp in a low tax onshore city like Hong Kong, KL, SG or even Dubai.

If you’re from North America just register you company in your city first and setup an account; you will most likely get taxes higher then anywhere else, but it is a start. The important of registering a business in Somalia is depended on where you will hold your assets.

Somali banks are opening up everywhere and they’re desperate for small business to use thier banks.

First find your niche, get a website and start connecting with others who are interested in that same space as you.

Just remember that “Setting up” is completely different from “Scaling up”. If you want to start your already too late.

 

[bigdogg]

What do you mean by “Register”?

In Somalia there’s no insurance and contract litigation is dismal. If you want to register a business in Somalia, you need to register a trading company or Corp in a low tax onshore city like Hong Kong, KL, SG or even Dubai.

If you’re from North America just register you company in your city first and setup an account; you will most likely get taxes higher then anywhere else, but it is a start. The important of registering a business in Somalia is depended on where you will hold your assets.

Somali banks are opening up everywhere and they’re desperate for small business to use thier banks.

First find your niche, get a website and start connecting with others who are interested in that same space as you.

Just remember that “Setting up” is completely different from “Scaling up”. If you want to start your already too late.

I wanted it to be in somalia but Thx for the advice I guess it hast to be some place else

 

[Deactivated]

I wanted it to be in somalia but Thx for the advice I guess it hast to be some place else

Book a flight and check it out.