Please go to some sponsor whom you know personally or someone really close to you know personally. In my experience it is a high risk situation in Qatar 1year back we had a problem with sponsor he wanted to takeover the control, even though the sponsor is a friend of one of parters for more than 25years, and we were paying a fixed monthly amount to him, then he had a palestenian guy as friend and he convinces him saying that company is making more profit and sponsor is not getting anything and went to bank take copies of statement and made a big fuss. finally there comes a situation that this palestenian guy want to be manager and he will manage all business and he want all of us who are running the show to be sent back. It was a real mess, but lucklly during that time there was some money related quarrels with the sponsor and this guy and he was expelled and we got it all back. but the loss cant be calculated as it affected whole reputation of the company. But the bottom line is money was more thicker than 25 years of friendship for the Qatari sponsor, under influence of that Palesteinan man. So my opinions are:
1. Try to get some1 really trust worthy
2. Make the remuneration deal based on % of turnover, so as company grows there is some increase in what the Qatari sponsor gets.
3. While making the WLL agreement get some good legal advice: the area that require particular interest are: there is an article: that states the right to change/add/modify the company manager is vested on more than half of the share holders:(Which Qatari Sponsor alone already has) try to make it three forth in an event of any issues he wont be able to strip you out of manager power and signature authority by himself.
4. Open bank account with some bank that you have good relation and make sure to give a letter from sponsor authorizing you alone to operate the account, he can revoke it anytime going there but still give some protection as revoking process will take time in event of any problem.
Please go to some sponsor whom you know personally or someone really close to you know personally. In my experience it is a high risk situation in Qatar 1year back we had a problem with sponsor he wanted to takeover the control, even though the sponsor is a friend of one of parters for more than 25years, and we were paying a fixed monthly amount to him, then he had a palestenian guy as friend and he convinces him saying that company is making more profit and sponsor is not getting anything and went to bank take copies of statement and made a big fuss. finally there comes a situation that this palestenian guy want to be manager and he will manage all business and he want all of us who are running the show to be sent back. It was a real mess, but lucklly during that time there was some money related quarrels with the sponsor and this guy and he was expelled and we got it all back. but the loss cant be calculated as it affected whole reputation of the company. But the bottom line is money was more thicker than 25 years of friendship for the Qatari sponsor, under influence of that Palesteinan man. So my opinions are:
1. Try to get some1 really trust worthy
2. Make the remuneration deal based on % of turnover, so as company grows there is some increase in what the Qatari sponsor gets.
3. While making the WLL agreement get some good legal advice: the area that require particular interest are: there is an article: that states the right to change/add/modify the company manager is vested on more than half of the share holders:(Which Qatari Sponsor alone already has) try to make it three forth in an event of any issues he wont be able to strip you out of manager power and signature authority by himself.
4. Open bank account with some bank that you have good relation and make sure to give a letter from sponsor authorizing you alone to operate the account, he can revoke it anytime going there but still give some protection as revoking process will take time in event of any problem.
PM me if you need any more info.