Lao Pride Forum - Business in Laos

llX

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Re: Business in Laos
Reply #30 - 25^th Mar, 2011 at 6:02pm

Thank for sharing your experience. Many of Lao expats dream of opening business and retire in Laos. Making $600-$1000 for small business in Laos is a good money.
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Larb Dip wrote on 25^th Mar, 2011 at 5:45am:

This sounds like a sauna/BEAUTY SALON.

How much does your wife make?

What can I do with US$50,000?
I have ambitions on being a pioneer and am not interested in following the latest trends. What 'businesses' haven't been tapped into yet?

No, it's just a sauna at the moment, although my guess is it'll include traditional Lao massage in the future. I included that in the activities I developed for our resort guests (www.rivertimelaos) and it is very popular with foreign guests. I have now sold the resort and am semi-retired.

The sauna is really just a hobby for my wife and looks like it'll be generating a profit of $600 to $1,000 a month. My wife charges 10,000 kip ($1.25) per person per hour in the sauna.

Interesting that you would like to be a pioneer. With $10,000 seed money you could do a lot here, but remember that rent/land is a big expense and that land prices and rent in Vientiane are very high now and almost at an international level. Outside Vientiane, it's still quite cheap, but getting more expensive all the time.

As to what kind of business you could do, that depends on your talent and what you are interested in (besides the color of Administrator's underwear).

All this talk of corruption and other kinds of sleaze is unrealistically negative. I was able to handle the business set up and running process while retaining a good level of integrity despite the difficulties. Anyone with a reasonable level of intelligence, fortitude and perseverance should be able to do the same.

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PEACE

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Re: Business in Laos
Reply #31 - 25^th Mar, 2011 at 6:17pm

Would you happen to know why/who business owners have to 'pay under table'? Pay the government? As in high taxation? There are laws established by the government already and all laws are being observe by the United Nations. If Laos and Lao gov't do not follow the UN, then the UN will take the country out of the group.

Most likely an Urban Legend?

LaoguySoCal wrote on 25^th Mar, 2011 at 7:12am:

I went back last year again and talked to my relatives. They said forget it if you want to open a business in Laos unless you have connection. I said, what connection? They said, in order to have your business stay long and profitable you have to pay under table, you have to know people working for the government and sort of thing. You know it is all about who you know, not what you know. They told me just work in USA and retired in Laos that way you have stable income from your retirement. I hope I can see my retirement money by that time. LOLZ. $10,000 not going to work for me. Last year I just blew almost $5000 just for visiting. Unbelievable!

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JSEA

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Re: Business in Laos
Reply #32 - 25^th Mar, 2011 at 6:20pm

This does sound pretty good. I'm still young, but growing old while drinking beer Lao by the Mekong sounds pretty nice.

Problem is being a farang I can't own anything, and I don't particularly want to get married right now.

How does it work for Lao-Americans? Wouldn't you have to give up your US citizenship? Or do they allow dual citizenship for you guys now?

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llX

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Re: Business in Laos
Reply #33 - 25^th Mar, 2011 at 6:36pm

Sadly Laos rank pretty high on corruption. Government salary, public worker are so low. They has make extra cash on the side anywhere they can to survive. Corruption is everywhere but worst in one party system. Even in USA we heard of corruption all the time, but there is justice, rule of law and balance of power. Nobody is above the law here. Even politicians, millionaire, billionaire get sent to jail for crimes, but in Asia money talk and with money you can get around the system . "Absolute power corrupt."
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PEACE wrote on 25^th Mar, 2011 at 6:17pm:

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llX

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Re: Business in Laos
Reply #34 - 25^th Mar, 2011 at 6:41pm

JSEA wrote on 25^th Mar, 2011 at 6:20pm:

I don't think Laos have dual citizenship yet. I hope they do in the future. I also want Laos citizenship. I love USA and Laos but I'll not give up my US citizens.
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PEACE

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Re: Business in Laos
Reply #35 - 26^th Mar, 2011 at 2:58am

JSEA - I am regretting of having a US citizen status right now. Born in Laos and naturalized to US citizen 10 years ago. I am hoping for dual citizenship in the near future. I love the great USA but Laos is home for me.

JSEA wrote on 25^th Mar, 2011 at 6:20pm:

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llX

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Re: Business in Laos
Reply #36 - 26^th Mar, 2011 at 4:30am

You still can live and retire in Laos with US citizens. Its nice when you work hard, retire and get pension, social security.
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PEACE wrote on 26^th Mar, 2011 at 2:58am:

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Larb Dip God Member Offline Lao Pride, and No. 1 Lao Pride Admin' fan from NZ! Posts: 1383 Hadxaifong, Vientiane Gender: Age: 37 Awards: 1	Re: Business in Laos Reply #37 - 26^th Mar, 2011 at 4:38am Don't you have to pay visa fees if you don't have Lao citizenship?
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llX God Member Offline "Absolute power corrupt." Posts: 2685 Gender: Age: 36 Awards: 2	Re: Business in Laos Reply #38 - 26^th Mar, 2011 at 4:54am Larb Dip wrote on 26^th Mar, 2011 at 4:38am: Don't you have to pay visa fees if you don't have Lao citizenship? Yes I believe $30 a month. But someone who retire from the US with pension, 401k, and Social security can get at least $1,000 a month or more.
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Larb Dip God Member Offline Lao Pride, and No. 1 Lao Pride Admin' fan from NZ! Posts: 1383 Hadxaifong, Vientiane Gender: Age: 37 Awards: 1	Re: Business in Laos Reply #39 - 26^th Mar, 2011 at 4:57am Yes I believe $30 a month. But someone who retire from the US with pension, 401k, and Social security can get at least $1,000 a month or more. [/quote] What does this 401k mean?
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William Kelley

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Re: Business in Laos
Reply #40 - 26^th Mar, 2011 at 5:39am

Larb Dip wrote on 26^th Mar, 2011 at 4:57am:

Yes I believe $30 a month. But someone who retire from the US with pension, 401k, and Social security can get at least $1,000 a month or more.
Shocked

What does this

401k

mean?

A 401k is a retirement plan allowing employees to contribute a certain percentage of wages earned into a tax-deferred account to save and invest for retirement. Some employers offer participants matching funds as part of a benefits package or company incentive.

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llX God Member Offline "Absolute power corrupt." Posts: 2685 Gender: Age: 36 Awards: 2	Re: Business in Laos Reply #41 - 26^th Mar, 2011 at 7:46am Thank for explanation William.
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llX

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Re: Business in Laos
Reply #42 - 26^th Mar, 2011 at 7:51am

Company Retirement account saving. You can contribute automatically from your paycheck. Don't they have it in New Zealand.
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Larb Dip wrote on 26^th Mar, 2011 at 4:57am:

Yes I believe $30 a month. But someone who retire from the US with pension, 401k, and Social security can get at least $1,000 a month or more.
Shocked

What does this

401k

mean? [/quote]

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Larb Dip

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Re: Business in Laos
Reply #43 - 26^th Mar, 2011 at 8:09am

llX wrote on 26^th Mar, 2011 at 7:51am:

Company Retirement account saving. You can contribute automatically from your paycheck. Don't they have it in New Zealand.
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Larb Dip wrote on 26^th Mar, 2011 at 4:57am:

Yes I believe $30 a month. But someone who retire from the US with pension, 401k, and Social security can get at least $1,000 a month or more.
Shocked

What does this

401k

mean?

[/quote]

Yes they do. It's called Kiwisaver. You can contribute up to 2/4/8% gross of your wages/salary. The company that employs you is obliged to match the amount. Tha government also gives you a tax credit of up to $20/week. That's $1024/year. Then it is up to you how you want to invest all your money. Some companies also have other superannuation schemes in conjunction with the Kiwisaver.

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LaoguySoCal

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Re: Business in Laos
Reply #44 - 26^th Mar, 2011 at 8:14am

401K is the money that your company put it aside for you by investing that money for you on stocks market and bonds. It depends on how much percentage you want to put in your 401K. You can cash out your 401K, but there is penalty for cashing out before you reach retirement age of 65 or younger. I believe it depends on how you sign up. I believe minimum returns on this is about 7% to 12% per year. It depends on how stocks market fluctuates each year or just how the stocks market doing. So far stocks market is doing fine right now. Roll Eyes

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