Has anyone here ever moved to another country and started a small biz?

[RainDog]

Or, does anyone know of good sources of info about this - I know this is a shitty time for credit, but credit is tight, not non-existent. If you have a solid credit rating and a long-term relationship with a financial institution... but if this relationship is with an American bank and you want to do biz elsewhere...

just curious.

[endarkenment]

1. I briefly looked into this four years ago (guess why.)

And - with very limited investigation I think my understanding is that in many countries it is far easier to establish a business, even a very small business, than to get legal status to work as an employee.

[RainDog]

2. yes, but for most bizzes you need capitalization

even tho you have to bring assets into a biz, most people do not have enough money to live off their happy vibes for a couple of years or pay for bigger supply/operational items.

I can ask where I am, too, but I thought there are so many people here from so many places, others might have experience.

[Oregone]

6. I think what the person was getting at...

Is that even if you had the money, filed the papers to start a business, you couldn't legally work for that business without a work Visa. You basically have to immigrate before you can do what you mention in most places. Immigration (legally) can take years. Getting the money may be your last concern.


By the way, if you needed a small amount of capital to start, even a credit card from the states would be helpful (capital one cards have no exchange fee penalties). Just another hint.

[Oregone]

3. I just moved. I have zero credit rating here...

Which sort of sucks since I have 800 rating in the states.

So anyway, credit rating is not an international thing. It doesn't follow you, so you would need to stick with your American bank until you get started. I have no idea what it takes to get a US institution to invest internationally for a startup, but its probably not easy at all. Good luck! You will probably need it...

As a hint, many banks have extensions or partner companies in other countries (yours may too). Perhaps banking with an international bank may help you.

[magellan]

4. Yes

And our bank is HSBC.

[rucky]

5. I think it depends on the country.

If you're near a major city with a World Trade center, the Economic Development Departments of many countries have offices at them. They're looking to attract jobs and industry into their countries, so, it may be a good place to start. Or find the contact on the web.

[Iterate]

7. Self-employed in the EU

You'll have all of the work and headaches of a US business, but with the added trouble of a language barrier, cultural differences (don't underestimate them), a new tax and regulatory system, and a new business network in a land where who you know matters more than what you can provide. A relationship with an international bank is easiest, sometimes just a passport and local residence. Getting a good local tax accountant who will look out for your interests is a must. I've avoided hiring anyone just because of the added effort.

But if you can show up with plenty of cash and a plan to hire 10 to 100 people, you can get attention and maybe a warm welcome. Start by looking up residence requirements for the counties you might be interested in. All are different.

[RainDog]

10. From what I remember reading before

if you're self-employed/freelance - the standards are diff. iirc.

I'm thinking about Canada. I'm tired of sending out resumes and if I decide to work for myself, I'd rather do it in a place that doesn't have as many freepers.

I could actually have a place to claim as a residence in the EU, even if it's not now - but I could do this with my former in-laws (we're all on very good terms, still.) I think Canada would be much easier to negotiate. In the EU, you have to employ someone from the country if you hire, or that's what I remember from looking into this a while back.

[Prisoner_Number_Six]

8. I did it in Texas- does that count?

That's about as far outside the US as is possible...

:evilgrin:

[RainDog]

9. I agree Texas is "out there" - but they haven't formed their own nation yet - again.

but somedays... :/