Hey guys,
Just after any input if available for my dad. My old man has made the decision to move into investing. He spends a bit of time in Indonesia for work and has decided to start up a small cafe in a pretty good area for around $40,000 AU.
The idea seems to be good as the area is a very populated business area, but just wondering about any legal implications with the income/profit made from the cafe? I beleive that only 25% of the profits can actually be taken out of the country into Australia if he is not and Indonesian citizen. Is this correct? and if so, what is the best way to go about making the investment work for him?
I am very green when it comes to investing as well but I am really keen to learn so any input/discussions would be very welcome!
Thanks in advance.
they will eat him alive in Indonesia. if he is not going to be running the business how will he know how much it is taking and if the staff are ripping him off or not. There will be no profit to take back to Australia! it is not only Indonesia where this will happen, but in most countries including australia unless you can work out a system where you will know how much the daily takings/sales are. eg counting cups used – but I had a friend in india who was trying this and the person running his store was taking empty cups from the bins and reusing them!
A friend of mine bought an apartment there a few years ago and somehow the title was fraudulently registered in someone else's name. it has cost him a fortune in legal fees and bribes to get it back.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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