I’ve been thinking about making some investments in LPDR since I heard that the government there would facilitate as well as accommodate us Laotian oversea if we want to do business. We might even be able to become a Laotian citizen, so we can maintain a dual citizenship. Can any of you steer me for a lucrative business with only $71,000 that I have, I am too scare to take the risk? How about opening a motel, a hotel, or jewelry store.?
My sincere appreciation and thanks in advance for your advice.
Any where you can make the money, if you have the peace of land it will be easy for you because the price of small , at leat is about 30.000 Usd in Vientiane for building a small house for your family , the house is priority for avery one , then you can find the brand new car 25. 000 USD and othe place you can find it for your bisnesse or tobuild you guesthouse or hotel are also more expensive too. what i said is the true because I live in Vientiane, every month, we are 4 pls, I spend for my food, electricity, water, telephone, petrol and other social activities as normal people are cost about 400 - 500 USD and I did no tell you about how much you will spend if you go to the bar and go out some where with Phousao, therefor will have to pay for the Goverment tax, car issurance and ...., please , consider it, every this are fee and not easy as you think so far. the people in Vientiane, they can by the cars direct with the amount of money , not pay dowm system like in western country like USA, france or Australia...so far the Lao people, they have their property such as land and .. please carefuly consider and well planed before going .
The new promulgated Lao law prohibits the dual citizenship. You can't be dual citizens. You must decide which country's citizen you want to be now or later on.
The new promulgated Lao law prohibits the dual citizenship. You can't be dual citizens. You must decide which country's citizen you want to be now or later on.
You're correct on this one!!!! U.S. doesn't allow it either, they wants you to pay the tax.
Welcome to invest in Lao Pdr, Yes, the government will treat you well as long as you have a big money to invest.. the amount money that you have, I think you can do very good business in Laos...
My intention is to have a small business for my family who are living there. I don’t have any desire to live in Laos; at least not now. I just want to help out my stepmother, my half brothers/half sisters. I think it would not be too much to open a jewelry store for her. I had paid for their education and I also bought them a motorcycle too because they need transportation. My half brother graduated in 1998, but his salary is too little. He told me he only make $38.00/month. My half sister on other hand got lucky working for foreign embassy and earns $500.00/month something like that. She graduated in 2004.
You mentioned that people in Vientiane have the means to buy cars in cash without the need for finance; I think you mean those who have their own businesses or those who have a high-paying job; otherwise, it is just too impossible for ordinary people or workers since the wages are too low and Laos imports autos because Laos does not have the capability to make a car. In America too, millions of people can buy expansive cars, but they are rich people. For low-income citizens especially minimum-wage earners and middle-class income, purchase expensive cars wit small down payments if they have outstanding credits.
Welcome back Bruce, Anyway I respect you for having a good heart and taking care your family. It's not my obligation either, but it's an honor. The best thing to do is to understand what type of business your family can run. Try to learn and research as much as posible before deciding what type of business to go into. They must know how to fish before they can feed themselves. I hate to see someone jumping into a business that they don't know how to operate because you will most likely fail. You must have passion too. I have grown from buying smaller properties to buying bigger apartments through experiences and I love every bit of it. Good Luck.
If I decide to do business in Laos, I'll probably open a pub. I'll hire all the poo sao noi noi to work at my place. Most of my customers are going to be the O.G. from U.S.. I think it will be a good business for a year or two. LOL!!
Welcome back Bruce, Anyway I respect you for having a good heart and taking care your family. It's not my obligation either, but it's an honor. The best thing to do is to understand what type of business your family can run. Try to learn and research as much as posible before deciding what type of business to go into. They must know how to fish before they can feed themselves. I hate to see someone jumping into a business that they don't know how to operate because you will most likely fail. You must have passion too. I have grown from buying smaller properties to buying bigger apartments through experiences and I love every bit of it. Good Luck.
Thank you KAONIAWI am happy for you that you invest in real estate. I also think about going into an Insurance Brokerage business, but where I live the lease of the space is too high man unless I can share the office with someone. It would take 3 months to get a license and the initial investment would be approximately $40,000 to $50,000. I talked to our Lao guy in Texas. He’s been doing for 8 years and he said it is so rewarding business because the more policy you write, the more you make. He told me that he grosses six figures a year, so after business expenses; his net profits are quite impressive to me. He said before I start writing the policy, make sure that I purchase E&O “errors and omission” insurance policy in case they sue me.
I can’t decide yet what I would do because I don’t want to quit my job. I enjoy my work and my salary is above average. The county pays full medical/dental and I can retire at the age of 55 if I want to. I would be collecting $2,800/month after taxes at least until I die, and when I reach 62 or 65, I can also collect regular social security benefits around $1,700 to $2,000 a month and this is what really holds me back. Either I stay with my current living standard or take the risk by going into business.
I don't think so! Jewelry is not a good idea. Don't!! There are sooo many jewelry stores in Viengchanh. I have friends who have jewelry stores and they said they don't sell much at all. They can't even make profits. You would be lucky to sell one necklace a week. Most of the people in Laos with jewelry stores are rich. Most of them doing it to cover up something else. I'm thinking maybe open a gas station with convinient store; or a small water filter company. Start out doing it at home. You just need to buy water filter machines and bottles. That is what my cousin is doing right now and she's doing really well. People in Laos are starting to drink cleaner water.
Refer to the question of man who has 71.000 usd , every thing is up to you r decision what kind of busisnese you wanted to do in the capital of Vientiane or remote area , what I said before is the live of people in Vientiane and if you do not care you can set up your busisnese in country side and all the people around you will call you the reachest man in the village, no need car, no need airconditioner, simple house. I had seen almost the people in America they pay down the car but in Laos such model is unacceptable so afr even the payment for bicycle . if you wanted to open Bear Lao shop you have to request to obtain the approval licience , pay the tax for the Government and to buy the Korean small truck for carry and delivery Bear lao to your shopis very cheap, the cost is start from 8 to 15.000 usd and you buld the small hud or house for selling Bear Lao is also cost about 7-10.000 usd and better way you can ask your relative in Vte.
Refer to the question of man who has 71.000 usd , every thing is up to you r decision what kind of busisnese you wanted to do in the capital of Vientiane or remote area , what I said before is the live of people in Vientiane and if you do not care you can set up your busisnese in country side and all the people around you will call you the reachest man in the village, no need car, no need airconditioner, simple house. I had seen almost the people in America they pay down the car but in Laos such model is unacceptable so afr even the payment for bicycle . if you wanted to open Bear Lao shop you have to request to obtain the approval licience , pay the tax for the Government and to buy the Korean small truck for carry and delivery Bear lao to your shopis very cheap, the cost is start from 8 to 15.000 usd and you buld the small hud or house for selling Bear Lao is also cost about 7-10.000 usd and better way you can ask your relative in Vte.
Lao Vientiane
Does not of kids in Lao like Lao bear? I've never ever seen lao bear before. I've seen mokey, lizard, and huge snake.
Oh wait....I do remember now. I saw a baby bear in a cage one time. A logging company caught the baby bear.
Welcome back Bruce, Anyway I respect you for having a good heart and taking care your family. It's not my obligation either, but it's an honor. The best thing to do is to understand what type of business your family can run. Try to learn and research as much as posible before deciding what type of business to go into. They must know how to fish before they can feed themselves. I hate to see someone jumping into a business that they don't know how to operate because you will most likely fail. You must have passion too. I have grown from buying smaller properties to buying bigger apartments through experiences and I love every bit of it. Good Luck.
Thank you KAONIAWI am happy for you that you invest in real estate. I also think about going into an Insurance Brokerage business, but where I live the lease of the space is too high man unless I can share the office with someone. It would take 3 months to get a license and the initial investment would be approximately $40,000 to $50,000. I talked to our Lao guy in Texas. He’s been doing for 8 years and he said it is so rewarding business because the more policy you write, the more you make. He told me that he grosses six figures a year, so after business expenses; his net profits are quite impressive to me. He said before I start writing the policy, make sure that I purchase E&O “errors and omission” insurance policy in case they sue me.
I can’t decide yet what I would do because I don’t want to quit my job. I enjoy my work and my salary is above average. The county pays full medical/dental and I can retire at the age of 55 if I want to. I would be collecting $2,800/month after taxes at least until I die, and when I reach 62 or 65, I can also collect regular social security benefits around $1,700 to $2,000 a month and this is what really holds me back. Either I stay with my current living standard or take the risk by going into business.
That's what I am doing right now. I work for a company full time and doing real estate on the side. It's very rewarding to me. I get to collect rents of about $2500 extra per month. Once I purchase the 34 units, I will be making at least $7000 -$10,000 extra income on top of my current salary with the company. My goal is to retire within 5-10 years. It's not all about money, but it is sure nice to do something that you like and make money too.
That's what I am doing right now. I work for a company full time and doing real estate on the side. It's very rewarding to me. I get to collect rents of about $2500 extra per month. Once I purchase the 34 units, I will be making at least $7000 -$10,000 extra income on top of my current salary with the company. My goal is to retire within 5-10 years. It's not all about money, but it is sure nice to do something that you like and make money too. ---------------------------------------------------------------
What state do you live KaoNiaw?
In California many homeowners are frustrating because the values on their properties are worthless than what they actually owe; it depreciates that fast man. We’ll see a few years from now, thing should get better. I hope.
If I decide to do business in Laos, I'll probably open a pub. I'll hire all the poo sao noi noi to work at my place. Most of my customers are going to be the O.G. from U.S.. I think it will be a good business for a year or two. LOL!!
..........I can retire at the age of 55 if I want to.......... how many years to go ? i think, if you are at our young age, you might risk, but if you are over 40, it's better to stay.
If I decide to do business in Laos, I'll probably open a pub. I'll hire all the poo sao noi noi to work at my place. Most of my customers are going to be the O.G. from U.S.. I think it will be a good business for a year or two. LOL!!
Your decition not bad but have you ever been @ green wiew or building?if your pub will open?make it better than above;I will be your guest twice a week!!!!55555
Build a nice private school. BruceLaoMan,you can teach English. I bet you those rich people wil pay anything at least $3000USD/month. If you have 100 students,"Man",you are rich.
That's what I am doing right now. I work for a company full time and doing real estate on the side. It's very rewarding to me. I get to collect rents of about $2500 extra per month. Once I purchase the 34 units, I will be making at least $7000 -$10,000 extra income on top of my current salary with the company. My goal is to retire within 5-10 years. It's not all about money, but it is sure nice to do something that you like and make money too. ---------------------------------------------------------------
What state do you live KaoNiaw?
In California many homeowners are frustrating because the values on their properties are worthless than what they actually owe; it depreciates that fast man. We’ll see a few years from now, thing should get better. I hope.
On the east coast. Well, you are right california is the number one foreclosure state. Typically, the real estate runs in a cycle of 10-15 years, so it will go up and down. It's the best time to buy if you have money.
