I know a million stories of people (Tunisians loosing money in such investments) and the advice I get from everyone is that as a foreigner be exceptionally vigilant in such situations.
Now Tunisian friends uncle is not close enough for me to consider a good investment especially something large like a resturant in Yasmine which I am sure will not be mega cheap.
My business in Tunisia is me and my wife and money that I can afford to loose (the domain Tunisia.com is still owned by my UK company that I own and leased to the Tunisian company). As for my Tunisian family I just about trust them given that I have been with Hajer for over 3 years and know them well and importantly we are married with a baby so they are my father and brother in laws etc. There is a good saying never mix business with family/friends and this is good advice. I get relatives come to office wanting jobs but i always say no as I do not want the complexity this would cause especially for other staff.
My advice to you would be to buy the restaurant yourself (which you may be able to do) and then have a formal arrangement where they can rent it off you for mate rates if you like. That way you always have the restaurant and can sell it if you like and kick them out if they do not pay.
Never go into business with other people in Tunisia on this basis NEVER! remember a 50,000 business is worth 50,000 if your selling it, what happens when one person wants to go 50% is not 25,000 as it is only a share with no control? do you take a lesser offer if it is you or will you be left with other third party as your uncle has sold he share to someone else and or given it to his son? This is all legal stuff that needs consideration in the UK let alone Tunisia.
My advice would be to steer clear and buy yourself property that either you own or once your married/living there invest a little in family business to keep things interesting 30% circa (so they are the boss and motivated) ones that are ongoing and can prove profit generation and even then be prepared to be patient for returns as this is pure speculation in my book and just for fun.
Me personally never will invest anymore in anything I do not control, if my father/brother in law was going under and need money to keep things going I would consider it but that hasn't happened and I would consider it a gift/investment.
If you have the money to invest in a resturant in Hammamwt your obviously not an idiot I suggest putting some of it in gold for 2008 and wait until your married and living in Tunisia and save your relationship from such complexities.
The more I think about it the worse an idea it becomes please do not do this I only see pain and stress. I am not a lawyer but I have an MBA and have run businesses all my life and have a business in Tunisia and lived through the paperwork DO NOT GO FOR THIS ARRANGEMENT.
Please I care about my customers and I want you to be happy.
Regards,
Kris
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