Does anyone here have experience starting a business in a third world country? Is it difficult? Where do you recommend that is safe and with strong property rights?
Which country/continent were you thinking of? If any in particular?
Sorry for the late reply - I am thinking about asian countries!
I would also be interested in hearing more information about this.
If you are an US citizen, Thailand is the best place as, under the US Treaty of Amity, US citizens are among the very few who can wholly own a business in Thailand. Consider Bangkok is far more expensive than, say, Chiang Mai but it's still ridiculously cheap by US and European standards. If you rent a place (say, to open a shop) it very likely the rent will include at least part of the utility bills. Average waves for you employees are around 8000 bhat/month full time and 4000 bhat/month part time. They are cheaper outside Bangkok.
And here's the bad news. Before even starting a business, you will need legal representation. Why? First of all, albeit contracts written in foreign languages are fully legal in Thailand, they take a back seat to contracts written in Thai. Second of all, while starting the business is cheap, there's a ton of paperwork to be done, especially if you are a US citizen.
Lastly, and this is the really bad part, even if you fully own a business in Thailand, you will still need a work visa to work in it. Work visa in Thailand are 5000 baht a month minimum. That's an inordinate amount of money. Many foreigners employ the trick of having their Thai partner (which is usually their wife) ostensibly running the business while micromanaging everything from behind the scenes: this is technically legal as you are "advising" your local partner as is your right and not working there. Practically speaking police controls are inexistant unless a report has been made to the authorities so many run the risk of just working in their own business without a visa. Be mindful however there have been cases of foreign business owners (mostly Chinese) who were taken out by their Thai competitors once they became "too successful" by reporting them to the authorities. The penalty is usually deportation but in some cases the business was confiscated and auctioned off by the authorities.
However the potential rewards for doing business in Thailand right now are so high as to make the hassle worth it: apart from work visa costs taxation is still reasonable and the country still hasn't fallen prey to the tax and spend mentality of the West. Thais are growing wealthier each day.
May be worth a look.
Hmm, thank you for the information. Where would you say is the best place overall for a libertarian to live?
Is Thailand really a Third World Country?
Thailand's royal family is anti-globalist as well, so you get some monarchist Hoppeoints (Hoppe-points?) there too.
I suppose then the thing to do would be to get Thai citizenship and then you're home free.
you still have to learn muay thai so as not to get robbed by some youth kickboxing champion (or even young kickboxer)
Malachi: you still have to learn muay thai so as not to get robbed by some youth kickboxing champion (or even young kickboxer)
Can you equalize the situation with a projectile weapon?
SkepticalMetal: Hmm, thank you for the information. Where would you say is the best place overall for a libertarian to live?
That's the million-dollar question. I've been wondering that myself for awhile now.
Yes, myself aswell. I've seen some articles on Lew Rockwell's website regarding best places for a libertarian to live, but that's mainly regarding the most business-friendly countries. Problem is, there doesn't seem to be any country that has a balance between the allowance of "personal" freedom and "economic" freedom. A country like Switzerland may be very business-friendly, and yet have conscription. Perhaps the best thing to do would be, I don't know, become stateless?
Try Botswana.
... just as the State has no money of its own, so it has no power of its own - Albert Jay Nock
SkepticalMetal: Hmm, thank you for the information. Where would you say is the best place overall for a libertarian to live? It depends if you just want to live there (as a retiree) or you also want to work there. After much searching I think the best place is the one where you get along better with local culture at personal level. For example: Singapore has ridiculously low taxation but from a personal freedom point of view it's not the best place in the world. Hong Kong is another great place as far as business is concerned and much better for personal freedom go but 1) you need plenty of capital to get started 2) you must really like living in a very packed city. Chile has good taxation, good personal freedom and is very friendly to foreigners but if you have health issues it may not be the best place in the world: medical personnel is well trained and hospitals work well but unless you live in or very near a big city like Valparaiso treatment may be hundreds of miles away. New Zealand has good taxation, good personal freedom (don't believe the hullabaloo: Australia is actually worse) and, apart from food, life is very cheap. The downside is if you want to visit your relatives for Christmas you need to plan months in advance, it's the skin cancer capital of the world (due to being located under a natural hole in the ozone layer) and earthquakes are a very common occurence. I have been to Africa and I would recommend it only to my personal enemies (who wouldn't ask me for recommendations ). The whole continent has actually got much worse since the '90s under all points of view and the only island of stability (and sanity), South Africa, is melting away. I will never set foot there again, no matter how much money I am offered or even if Charlize Theron offers me a date. I have little knowledge of the so called "New Frontier", places like Laos, Cambodia etc. All in all the issue must be carefully weighed. Personally I would take slightly higher taxation over restrictions on personal freedom any day but if your plan is to make as much money as possible in the shortest time, Singapore may be the way to go, especially if you are into high tech. Also consider the world is changing rapidly. If in 1980 I told any of you China was a great place to invest money, I would have been laughed out of the building, and rightly so. Who knows, may be in a few years Cuba or even Iran will be the next hot thing... Together we go unsung... together we go down with our people | Post Points: 50