So in my last post I made two bold predictions on the economy in the coming century, that emerging markets in Asia and Africa will be the driving force of many of the changes we see in the world.
Is a war torn nation that no one knows much about, or has even heard of. The currency of choice here is single American dollars. The country is extremely poor and lacks almost any infrastructure of any kind. Will any entrepreneurs step up and make a difference in this country? Where there are problems, there is opportunity.
I have a friend who recently raised 30 million from the largest telecom in the country after being in the country for just 3 months. They now have the ENTIRE e-commerce marketplace to themselves. They are quite literally; they are the only company doing e-commerce at scale in the entire country. After a few weeks of operation, they eclipsed 101 employees today. Their headliner is a daily deals site / group-on clone: anything.lk
I’ll report back from Myanmar next week, as I’ll be jumping on a plane to head there shortly. For those who are interested in visiting, the visa situation is a pain! I decided to go last minute to attend a conference, and although I qualify for a “visa on arrival” the process is anything but clear. You need a letter from a Burmese business with address IN Myanmar (as well as permission from a ministry). Full details are available at this site. It is much, much easier to arrange a visa in advance at a local embassy.
From what I’ve seen so far from Indonesia, I enjoy this country. However, corruption at the lowest levels, as dealing with police (or the local banjar) can be burdensome for entrepreneurs. As for most places around the world, it’s best to enjoy your time here, follow the rules and don’t make too much noise. Although it is one of the largest emerging markets, if you are going to start a business here, you better have a great understanding of the culture, a well-connected local partner and deep pockets. I’ve written about starting a business in Bali in this post. If you are able to start a business, you’ll find incredible local talent for an inexpensive rate. The workforce is (by and large) more technically skilled than many other countries in the region, and there are great developers and designers.
Korea is a place I don’t know much about. From an outsiders perspective, it’s not an emerging market, it seems expensive and difficult to penetrate as a foreigner without extensive time and effort. Although I have Korean friends who I know and love, it doesn’t attract me from an a macro-economic perspective and I can’t see this economy having the growth potential of others in the region. It is very well developed, and in many ways the polar opposite of its neighbor to the north…
North Korea is the last frontier of Asia – hidden behind a communist veil, much of the society is kept in secrecy. I do know some people who have been able to visit and do business in the country. Believe it or not, they run a consultancy that teaches social skills. I guess that proves that maybe there is a market in NK? Recently it came out that Google is trying to penetrate into the economy here, and bring peace to the people. This is an admirable goal in my mind, and displays how the free market and private business can accomplish something that bureaucracy and governments could never accomplish in the country – freedom, peace and profitability.
China is intimidating. A huge market full of opportunities. Learn more on how to incorporate a company and do business in China.
Hong Kong is amazing, I love spending time in this country and it is just so damn entertaining to go out for a night on the town in this city. Hong Kong has a great culture – its not overbearing with centuries of tradition, but its deep enough to have caught its voice and be able to proudly proclaim: this is what it’s like to be Hongkongnese.
Hong Kong simultaneously both IS and IS NOT China. Technically, it is a “special administrative republic” and Hong Kong S.A.R. is an exemplar for an efficient free market economy, yet for all intents and purposes, is subservient to the centrally controlled Mainland. Although the quality of life, language, way of doing business, food, travel documents, and a lot of other things are completely different – Hong Kong IS china.
The food and the people are great, the city is so much fun, and Hong Kong is the best place to open a bank account. Scratch that, it is the 2nd best place in the world for banking and starting a business, right behind…
Singapore is THE best place in the world to start a business. I’ve written about Singapore city here and also here. I have a deep respect for the ability of the government to spur entrepreneurship and innovation, and raise the quality of life for a society. Living here is a joy, and I love being here for that reason, now if I could only find some interests outside of my work…
I write too much about this country already. I’m redacting my previous statements on the LOS. There is “nothing” to see in Thailand, please move along… My advice to backpacking tourists looking to “find themselves” and “see elephants” and “ladyboys” is to stay for a day, visit Phuket and then get out. We never wanted you here anyway.
For those of you who want to see the real Thailand… I recommend at least a year on the ground. Learning the language, starting a business, getting a multiple entry visa in Thailand through a Thai Company, and living in Bangkok city.
Cambodia is the future rice bowl of SE Asia. Along with Thailand and Vietnam, this is where the bulk of food will be produced in the 21st century. it’s also a very young society, and its developing quickly. I’ve seen ventures fail here (premium beer, commerce) and other succeed (citizenship by investment, property investment, fund management, rice, micro lending) the business field is wide open. Read more about Cambodia here. Read more about Cambodia’s Flag Theory and How to Get Cambodian Citizenship | Frontier Investing | Private Equity
Vietnam has an emerging tech community. You would not believe the talent that comes out of this country in terms of technical ability. The currency is a dong, and the government makes it near impossible to start a business unless you know the right people. Even the locals have to go and stand in a room and be read a number in order to start a company here. I spoke to a young girl that did it herself (instead of pay a company rough $200). From the beginning, you should only pick a venture that the government will LIKE – because if they don’t like you – bye bye. Take for instance Facebook – which saw a countrywide ban when groups starting popping up opposing the incumbent party. Check this article on How to set up a Vietnam LLC for further information.
Ahhh the Philippines. The friendliest people on earth. Despite having one of the lowest GDP per capita, they have one of the highest happiness ratings. The women here are very intelligent. If you want to set up a business here, make sure you have strong females on your side, and great government connections. They are open to foreigners doing business, but all of the guys I know here that have had success know when to show their palms, and when to show their teeth. REAL power rules.
If you are interested in setting up a company in the Philippines, or learning more, check out this post on why it’s more fun in the Philippines…
There is a lot of opportunity here; partially displayed by the fact that Google is setting up a HQ in the Philippines. As a societal whole, you really want to root for them. They have the potential, they could do better, and they even know it themselves (see this commentary called “get real Philippines” or just look at the town slogans “aim high!”
Everything You Need To Know About Wiring Money Overseas
I’m getting a lot of feedback from people trying to send international wire transfers.
A reader wrote this week to say:
“I went to my bank branch to initiate a wire transfer on Monday. The teller had to call over the branch manager to help with the paperwork. Once the manager saw I was transferring money to Panama, she told me they wouldn’t be able to do the wire transfer. When I asked why not, she said because investing in Panama is too risky.”
A non-UK domiciled but resident client has used the remittance basis since 2008/09 and made an election under TCGA 1992, s 16ZA. Remittances have been made to the UK from a mixed offshore fund.
My non-UK domiciled client has used the remittance basis since 2008/09 and made an election under TCGA 1992, s 16ZA. He remitted a significant amount of funds to the UK in 2011/12 from a “mixed fund” foreign bank account (one of several).
The deposits have been analyzed between (broadly) income, gains and clean capital for every year. However, my queries concern the treatment of withdrawals that are not remittances to the UK or transfers to other foreign bank accounts.
First, it would appear that income, gains and capital of the fund should not be allocated to the alienation of funds used for personal foreign expenditure (e.g. payment of a foreign electricity bill). Is this correct? Such items would, of course, deplete the bank account without any unremitted funds being matched.
Second, $20,000 was withdrawn in 2009/10 to acquire some foreign shares that were sold at a $5,000 loss in 2010/11 (the $15,000 proceeds being deposited in the same bank account).
Käyttämällä kauneutta taide teoksia omassa toimistossa tai omistuksessa rakennus voi houkutella paljon positiivisia tunteita. Se voi todella lisätä tyytyväisyyttä teidän työn tekijää, kävijöitä ja asiakkaita. Tämä on myös tarkoitus parantaa yrityksesi kulttuuria käyttäen taide teoksia. Tämä erityinen ei ole vain suuryritysten koska jokainen yritys on hyvä yritys kulttuuria.
Koska yrityksen omistaja, sinun pitäisi aloittaa joitakin muutoksia oman toimiston suunnittelussa, jos se tuntuu tyhjältä tai tylsää. Varmista, että laittaa "valita hyviä taide teoksia toimisto" sinun tehtävä lista. Katso, että jokainen nappula voi piirtää positiivisen tunteen. Voisit aloittaa miellyttävä valo kuvia, ponnahtaa väri, tai kannustaa taidetta tarjota hyviä Aura paikkasi eduksi kunkin henkilön saapuvat toimistoon. Eri tutkimuksissa jotkut asiantuntijat osoittavat, että saattaminen taide teoksia työpaikalla voi lisätä luovuutta sekä ja antaa enemmän innostunut tunne ihmisiä.
Seuraavassa on muutamia yksinkertaisia vinkkejä laatinut luotettu Devin Fitzpatrick Art Consultants auttaa yritysten omistajia tai ihmisiä, jotka vastaavat suunnitella toimiston kauniita taide teoksia:
Sinun pitäisi tietää, millaista tunnetta halusitte näyttää jokaisen taidetta. Kun henkilö saapuu tietyllä alueella oman toimiston rakentamiseen, mitä tunteita halusitte välittää läpi taide teoksia? Se voisi olla tunne onnellisuutta, sisältöä, toivoa, ystävällisyyttä, tai muita positiivisia tunteita. Tunne ja aloita sieltä. Getting ammattilaisen apua taiteen konsultti voisi myös edistää paljon positiivista tulosta valintasi.
Planning a vacation includes selecting your destination, a place to stay and a transportation service that will get you the places in your itinerary. You need to be extra careful and pay attention to everything so you could have a memorable vacation ever. The very first thing you need to decide is the places you like to visit and the activities you want to do. Choose places that can help you relax and forget your work commitments.
The next to be considered is the accommodation. Make sure to book a comfortable place for your stay and of course, within your budget. Do some research online for hotel promos and do not forget to read trusted reviews to serve as a guide in choosing the most desirable hotel in your destination. If you already have a schedule for your trip, book your accommodation as early as possible so you could take advantage of potential cost-saving options they may offer for early bookings.
The next area of concern is the transportation service you are going to avail. There is numerous reputable chauffeur service available to cater your transportation needs. Tokyo MK Taxi has long been serving the people of Japan, Korea and the United States as a global company providing high-quality taxi and chauffeur service at a very reasonable price. They offer not just a ride in comfort and style, but an easy and stress-free way to travel and arrive at your destination. Tokyo MK Taxi features Lexus group enthusiasts and cars included in their vehicle fleet are Lexus 600hl, Lexus 460, BMW, Mercedes-Benz, Toyota Hiace and Nissan Fuga Hybrid and much more. With over 212 types of taxi and 58 different models of luxurious vehicles, we can provide the right chauffeur car service for everyone’s needs. For more details, you can visit their website.
When you hire Tokyo MK Taxi, you get the best customer service without having to wait in lines, deal with incompetent drivers or pay more than you should. You can travel with your own personal space and with a sense of security.
Körd biltjänster komma till hands om tider som vi behöver komma någonstans och gör inte vill driva. Individer som söker efter en trevlig resa upplevelse kan också hyra chauffeured bilarna till deras föredragna händelser och destinationer. Hitta bäst chauffeured tjänsteleverantören att njuta av en minnesvärd reseupplevelse. Här är några saker som är viktiga för att få bästa bland resten:
Tjänsterna som erbjuds
En bra chaufför serviceföretag bör vara flexibla när det gäller typ av chauffeured tjänster som erbjuds. De bör erbjuda sina tjänster för corporate resor och transfer till flygplatsen samt att kunna njuta av resor med elegans och stil till speciella evenemang som proms, reunion, bröllop och födelsedagar. De skall uppfylla professionella normer genom att leverera enastående service som ingen annan och bör också kunna vad det tar att planera och genomföra varje tjänst på lämpligt sätt.
En sak att tänka på är bilarna. Raden av chauffeured bilar ett företag har kan berätta mycket om nivån på tjänster som det kan erbjuda. Som kund har du möjlighet att välja det fordon som du älskar mest för din reseupplevelse. Med mer än en modell och varumärke att välja från, kan Tokyo MK ge en smidig resa till sina kunder med lyxiga bilar som gör det möjligt för dem att komma fram till sin destination med stil och finess. MK Taxi har Lexus grupp entusiaster bil limo alternativ som LS600hL och Lexus LS460. Andra typer av lyxig bil som erbjuds av företaget är: Mercedes-Benz S500L, Toyota Alphard, Toyota Crown Royal Saloon, Nissan Fuga Hybrid, Toyota Hiace och BMW ActiveHybrid 7 L.
Gianyar. Bali's local government awarded 29 villages with silver and bronze stars at the 2017 Tourist Village Awards at Taman Nusa cultural park in Gianyar district on Friday (26/05).
The event's committee head, Made Mendra Astawa, said awards were given to villages who displayed concerted efforts to develop amenities and infrastructure to attract a growing number of tourists.
Seventeen villages were awarded silver stars, while 12 others received bronze stars. However, no villages were awarded with gold.
Mendra said the committee, comprised of 14 judges, conducted their assessments from April 20 to May 18 and applied regional standards to evaluate each village.
“Paper or plastic?” It’s a fairly innocuous question that cashiers at retail stores ask as you complete your shopping experience, but how you answer that query can have a far reaching impact on Galveston’s environment.
Plastic bags are one of those modern conveniences that became commonplace before we even took a moment to consider their environmental impact. But Joanie Steinhaus, campaign director, Gulf Coast for the Turtle Island Restoration Network, which partnered with the Surfrider Foundation Galveston Chapter to develop the Bring the Bag Campaign, says plastic bags have become a scourge to the environment for a number of reasons.
“Plastic bags don’t biodegrade; they break down into tiny particles that are found throughout the water and soil,” Steinhaus said. “They also absorb toxins, and we know that fish and birds consume these micro plastics. Plus, they are a significant source of litter and contribute to flooding by getting stuck in storm drains.”
The Bring the Bag campaign was launched in 2014 as an education and outreach initiative to bring attention to the potentially devastating ecological effects created by plastic bags and to encourage the use of reusable bags. Steinhaus says studies show that the use of reusable bags helps to eliminate an estimated 22,176 plastic bags per person over their lifetime.
Galveston city council members are in the process of considering a ban on the use of plastic bags on the island, and the Bring the Bag Campaign is helping to support that effort by providing information to the public and reaching out to businesses to garner their support. Part of that outreach will include Galveston Bring the Bag Day, scheduled for April 22. City leaders are encouraging businesses to reduce and eliminate plastic bags and are educating island visitors to be good stewards of the environment.
Ecommerce fraud is on the rise as more consumers turn to online shopping. Luckily, by being vigilant, merchants can fight fraud and win.
As the number of consumers turning to online shopping increases, the rise of online fraud is also rising.
Those committing internet crimes are depriving their victims of either funds, interests, personal property and/or sensitive data. As the threat escalates, consumers and companies alike are seeking various methods to tackle the phenomenon.
Ecommerce fraud has a long and controversial history. Thus, providing a forecast for the months ahead can help retailers adopt an adequate solution to confront the many challenges in 2017.
By William F. Whelan, guest columnist and Senior VP, Branch/Government Banking, Capital Bank.
As the 2017 tax season gets underway, Capital Bank of New Jersey is urging all customers to take extra precaution when filing their return to prevent their exposure to tax fraud.
“Fraudsters are using very clever tactics to get a hold of your personal information and submit false tax claims,” said David J. Hanrahan, Sr., President and CEO. “Consumers must be suspicious of any communication from the IRS—through e-mail, text or social media—that requests personal information, and should keep a watchful eye out for missing W-2s and mail containing sensitive financial information.”
Tax identity fraud takes place when a criminal files a false tax return using a stolen Social Security number in order to fraudulently claim the refund. Identity thieves generally file false claims early in the year and victims are unaware until they file a return and learn one has already been filed in their name.