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Sign up with Google Sign up with FacebookQ: So are all Asian countries as difficult for a foreigner to set up a small business?
Has anyone ever tried to do something legitimate in a country like Japan, Korea, Vietnam, Thailand…. ?
I can’t say as if I know of a Chinese business person that I would trust enough to partner with and if I had $500,000 to invest, I doubt I would trust the government to take my side in any legal issues. One only needs to look at how "CAT" got taken to the cleaners for around $500 million dollars to see that this is no place for fools to tread.
My girlfriend doesn’t want to leave China, but I just am not that sure if I want live on a teacher’s salary. Luckily I am not in a rush to do anything so I guess I will just maintain a holding pattern for now and save up what I can.
10 years 48 weeks ago in Visa & Legalities - China
You're from the USA? It's easier to set up a company based in the USA while you're in China than it is to set up a company in China.. Even for Chinese, it's *really* difficult to set up a new company. It's pretty much expected that you need to be rich first before you can start a company in China, that's definitely not true at all in the USA where just about anybody can get a loan and start a business if they've got a solid business plan and no cash.
My girlfriend has a small company with employees, but it's not a company that's filed with the Chinese government so it's not technically a company. To start a company in China, you have to do a laundry list of silly stuff including having a huge bank account full of money set aside that you can't touch and (I joke you not) getting somebody to carve you a "wax-stamp" for your company's official "seal" which needs to be registered with the Chinese government as part of the requirements! It's half insanity and half tradition combined to make a whole big pain in the ass.
You could set up your own training center and that would be considered a small business. I know someone who has already done it. There was also a lady from the UK that set up a school/training center with the magic white board and all. The place was small, but it's still a small business and I don't think they had that much difficulty in setting it up! (!!
99Silva,
I am wondering do you know if either of those business are 100 legal? Are they registered, do they pay taxes?
What I have yet to figure out is if you partner with a Chinese person, how do you do the visa? I have read (Middle Kingdom Life) that in order for a school to legally hire a foreigner here it is a process that takes about 18 months and is usually best accomplished by partnering with the school you already work for. I am guessing most schools aren’t too interested in this unless they will make more money than you.
I think I am beginning to understand why so many just do it illegally. Let’s face it unless you are looking to become wildly wealthy it isn’t worth the trouble. Has anyone seen any stats on how many businesses that are at least partially foreign owned in China last for more than 5 years. I am thinking the survival rate must be less than 10% probably closer to 5%.
So back to the original question is it easier in other Asian countries?
TedDBayer:
He doesn't know anything, just gave you an answer for points, dumb as dirt.
Singapore is one of the most business friendly places for foreigners. This is the place you seek.
singapore and hong kong are about as straightforward as could be in any western country. hong kong even allows foreigners to establish sole proprietorships.