So Can You Tell Us About The Expat Life There? Business/property Ownership? Visas?

[simon43]

Further to a recent post that I made in the Visa & Immigration Forums, where I commented that I had relocated earlier this year from Phuket to Myanmar, a poster asked:

So can you tell us about the expat life there? Business/property ownership? Visas?

I can very briefly answer that I did not make the move for an 'easier' life - although putting some distance between me and the women in my life is not a bad idea

I relocated to Myanmar to pursue 2 important interests in my life, which are amateur radio (my hobby interest), and working within the humanitarian sector (my karma interest).

I have written about life in Yangon on the other 'wooden' forum, but in a literary style which may not be suitable for ThaiVisa.

As to the poster's questions, I shun expat life, because I see little point in relocating all the way from a 'whitey' country, only to socialise with other whiteys! So I live amongst the local population, eat the food they eat and go to entertainment venues that they frequent.

Although the Foreign Business Investment Law was passed by government just a few days ago, the incentives are really only of interest to larger investors and companies. For a small business, majority foreign ownership is not possible.

Property ownership is also not possible at this level. It is possible to lease a property long-term, but you can make your own mind up as to how secure such a contract would be in present-day Myanmar.

There are no retirement visas. For short-stay, you either get a tourist visa or a business visa (if you are attending meetings etc). For longer stay (3 months+), you either get a social visa (if you are married to a Burmese citizen), or a business visa (if you are employed). I have a business visa because I am employed.

Simon

[NewlyMintedThai]

Thank you for following up, Simon.

I love Burma...been there at least once a year over the past 23 years. Such lovely people.

I sincerely hope all this change does not result in the charm that is the country's biggest asset.

[DagonKhan]

simon43 wrote:- "Although the Foreign Business Investment Law was passed by government just a few days ago, the incentives are really only of interest to larger investors and companies. For a small business, majority foreign ownership is not possible."

No law was passed, Thein Sein refused to sign it into law, it's back up for discussion.... yet again...

I run a small business by the way, I have majority ownership. It really rather depends on what type of business you're looking at, it's certainly possible in every instance, whether or not it's worthwhile is another story.

You'd do well to stay away from the expats here, the vast majority haven't been here that long and most (I'd go as far as to say 99%, yes that much!) have zero experience of setting up and running a business here. Once you weed out all the diplomats, NGO's, employees (of various institutions/companies) there are very few expat businessmen here with that experience.

[NewlyMintedThai]

How about getting profits out if the company in hard currency? And the banking system?

[DagonKhan]

How about getting profits out if the company in hard currency? And the banking system?

Answer to question 1 is hondi. As far as question 2 is concerned, the only time I use the banking system is to pay tax or official fees, everything else is done with cash.

Edited October 1, 2012 by DagonKhan

[Sunny1803]

simon43 wrote:- "Although the Foreign Business Investment Law was passed by government just a few days ago, the incentives are really only of interest to larger investors and companies. For a small business, majority foreign ownership is not possible."

No law was passed, Thein Sein refused to sign it into law, it's back up for discussion.... yet again...

I run a small business by the way, I have majority ownership. It really rather depends on what type of business you're looking at, it's certainly possible in every instance, whether or not it's worthwhile is another story.

You'd do well to stay away from the expats here, the vast majority haven't been here that long and most (I'd go as far as to say 99%, yes that much!) have zero experience of setting up and running a business here. Once you weed out all the diplomats, NGO's, employees (of various institutions/companies) there are very few expat businessmen here with that experience.

can you suggest a lawyer,for me setup a trading business...Thanks

[DagonKhan]

can you suggest a lawyer,for me setup a trading business...Thanks

Not really, as personally I wouldn't use one. If you need some sort of assistance then I would be talking to some of the local accountancy firms who have the necessary experience, they're far more knowledgeable about Company formations etc. than the lawyers, and a fraction of the price from what I have seen.

[Fgis]

An what about women there, hard to approach ? :-)

[mingalaba]

An what about women there, hard to approach ? :-)

Stay in Pattaya ?