How to Start a Business in Other Country?

Building your own business in other country will give you challenging tasks, the same with every businessperson who started their business venture, most especially if you are new in setting up a business. But making sure it will be more successful depends on your planning and investing research before you put your money into the project. Tight budgeting and great planning are some of the keys that will lead you up to the ladder of success in putting your business in another country.

Where to start?

1.       First, you must decide on what kind of business you want to establish in the country, but make sure that it is highly suitable for the specific territory you want to start your business, because in choosing the type of business and the country must work well together. Your working experience and skills will surely guide you towards your goal and targeted business to open.

2.       List the countries where you are interested or want to put up your business with. Make a thorough research in a specific country that you stated to make sure that your business product or service will be needed. With the help of today’s dominated technology, it’s an ideal to do it on the internet as you can find great resources and references through online.

3.       Be sure to check each country’s government websites. You will be able to find a webpage about foreign business opportunities. There are lots of countries that offer great incentives for starting up a business, mainly if the kind of business you offer is not yet widely available.

4.       Study about the immigration rules, taxation, financial regulation, employment law and other law of the country where you decided to start building a firm, like for example when I’m gonna be starting a business in Thailand, I found out that it is important to get an authorization and memorandum of association and register my firm as a legal entity at a private limited registrar’s partnership first.

5.       Make sure that your business will prosper and serve the community where you plan to establish your business by visiting your selected location and country. Keep in mind to check out the competition level, because it is hard to compete with a well-established company with the same kind of product or service offered.

6.       Try to contact a local business property representative to assist you in searching the right location for your business. Consulting service will be free until you decided on a property, and after finding the place, find a local lawyer to support your legal needs.

7.       Hire an accountant; be clear and accurate in when stating your objectives. Ask questions about local paperwork, most especially in employment process.

8.       Finally, be sure that everything is in order and wait until your accountant and lawyer confirm that your business is completely ready to open.

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What is a Visa?

Visa comes from the Latin word “charta visa”, which means a paper that has been seen. It is a type of document that shows an authorization of a certain person to visit or enter a specific country from which it was approved and issued with a subjected permission by an immigration official at the moment of actual entry. Authorization can be in a form of document, but in generally these days it is in a form of authorized stamp that endorsed or certifies the applicant’s passport.

In other countries, there are some situations that visa is not required, for instance in a result of reciprocal treaty arrangements. This is a process were the country will issue the visa with different attachments of conditions of stay, like dates of validity, period of stay, territory covered by the visa, and more.

Even though you possessed a valid visa, you are still not guaranteed to enter your desired foreign destination, because it is just a form of permission that grants a non-citizen to enter, travel, transit or stay in their territory and limited within specified restrictions or constraints, i.e. time frame of entry, limited time and duration in the country, and a prohibition against employment, while visa can be invalidated without any given time.

While in some other countries such as Thailand it is required that their citizens and foreign travelers must acquire an exit Thai visa in order to be permitted to leave the country.

It is understood that if you leave the country without providing an exit visa, your current visa will get void or else you will be required to apply for another re-entry visa which could be hassle on your part.

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What is Land Leasing?

Land leasing is a type of financial arrangement in which the land or ground under a structure will be leased than sold to a builder or a developer. It means that the structure and the land are owned independently.

There are different reasons why real estate investor enters a land leasing contract, first and most commonly known reason is retaining a piece of the land. In this example, the real estate investor might work with a developer to be able to generate a land lease contract that allows the developer to build a structure and has given the rights to rent or sell it, with of course the understanding that the land is just leased and does not come with the building. This kind of agreement is mostly common in urban areas that are often associated with the tenant-owned or cooperative buildings.

In general, the contract for land leasing will last about 50 years. So, if the contract is in near termination, the land owner must renew it and assure that the building is in good condition or well maintained and has been profitable, even though the price of leasing will possibly increase as the property value increase. In the contract it is also included that the property must be developed in some way and the rents for the land will be paid quarterly or monthly to the property-owner.

One of the great things about leasing is that, if the lease will not expire nor has a longer term, purchasing a structure on a land lease can be a good investment. Why? The building can be cheaper than neighboring real estate because of the unique circumstance.

Leasing a land can be a great investment, just keep in mind on how it will going to benefit you in the long run. If you want to have a good start with your investment, consider leasing land in Thailand.

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