Atricle Dump

An Introduction to Offshore Investing
Once upon a time, offshore investment strategies were spoken of in hushed tones. They were conversations restricted to the plush offices of private Swiss bankers, or a dinner table topic in the expensive playgrounds of the multi-millionaires.Thanks to the information explosion of the 1990s, the internet has opened up many investment possibilities that were traditionally the exclusive preserve of the billionaire boys club.Many readers of Offshore News are new to this arena and probably confused by the barrage of information online. After all, these are shark infested waters and there are many out there who make a very good living ripping off the recent stream of naive new entrants to the offshore world.First, you need to consider your reasons for going offshore. You need to take very careful note (and sound legal advice) of your domestic tax liabilities first. Americans for example will still be tax lia

th you for the long term, he will expect you to want to get to know him better and think nothing of your wanting multiple meetings before signing any deal.

Use every source you have to find out about your potential partner. Check his references, particularly those of other foreign firms with whom he has worked. Hire a local lawyer or investigator to confirm he and his various businesses are in good standing with all creditors and taxing authorities. If your potential partner is in Vladivostok, Russia or Qingdao, China, hiring a lawyer in Moscow or Shanghai will probably not be good enough. Find someone you can trust with contacts where your potential partner conducts business.

PRINCIPLE TWO: Keep an Open Mind. Assume Nothing.

Doing business in an emerging market means

Success at Work: Techniques: Computer Literacy
It's hard to believe that there are people in today's workforce who don't know how to use a computer. In today's society, being computer illiterate is equivalent to being functionally illiterate. Obviously no one reading this article is computer illiterate, but maybe you know someone who thinks they can avoid computers and still be successful at work.Let me tell you a story about a good friend of mine back when I worked at Motorola. The company moved the manufacturing of automobile alternators offshore, resulting in his transfer to my department. Although he had about 20 years with the company, this was to be his last stop before being booted out the door.He was assigned to me as an Electronics Technician, and the first assignment that I gave him was to lay out a small printed circuit (pc) board. It was a tiny circuit for a tester, so computer drafting was not required. He could just sketch it out on paper. Af

Emerging markets are high risk and high reward. In my work as an attorney representing Western companies in emerging markets, I have concluded there are four essential elements to emerging market success: a good partner, an open mind, active participation, and extreme patience.

I have seen enough essential similarities between such diverse countries as Russia, Korea (ten years ago when it was still an emerging market country), Vietnam, and even the Gambia and Papua New Guinea, to believe certain core generalizations hold true for all or nearly all emerging market nations. Just as a good concept, a strong market, and good execution are necessary in all countries, so too are these four simple principles the keys to success in emerging market nations.

PRINCIPLE ONE: A Good Partner is the sine qua non of Success.

The quality of the local partner is the indispensable element for emerging market success. So where do you begin?

Start with due diligence. Before doing business with anyone, you must first determine what you need from your partner in the particular country in which you will be conducting business. In my experience, foreign companies need a local partner who is effective, cooperative, and (most important of all) trustworthy.

Emerging market countries almost always have less-than-fully-formed legal systems. Their laws are oftentimes slanted towards the government and away from free markets. Their courts are slow and often corrupt. Form takes precedence over substance in ways completely unfamiliar to Westerners. One small technical miscue on your part might eliminate your right to sue your partner for having stolen all of your money. It might even lead to you and your company being kicked out of the country, while your assets remain.

Of course you should do your best to avoid technical miscues, but the better strategy is to pick your partner well.

So what should you look for in a local partner? Political connections? Yes and no:

Yes, because you probably will need someone with sufficient dexterity to maneuver around often-suffocating business laws and a bureaucracy that may try to cut in on your business at every turn.
No, if you think that is all you will need. Just as in the West, the politically connected are usually more a "government type" than a business person. Partnering with someone in an emerging country with whom you would never consider partnering back home is a mistake.

Political clout in emerging market countries is often more effective for avoiding legal responsibility for something like a debt than it is in generating business revenues. I have seen countless instances where a foreign company partners with someone because he "is tight with the governor," only to see the business crushed by the new governor as part of his house cleaning. The best partner is politically connected only to the extent necessary for business success.

Your partner's character and reputation are your protection in countries where the court system is not. Do not partner in any sense of that term without having conducted thorough due diligence.

Get to know your potential partner. If he is legitimate and wants to work with you for the long term, he will expect you to want to get to know him better and think nothing of your wanting multiple meetings before signing any deal.

PRINCIPLE TWO: Keep an Open Mind. Assume Nothing.

Doing business in an emerging market means

The Wrong Way to Impress a Customer
Do you like to see impressive, amazing things? Do you like to witness jaw dropping, astonishing situations and events? Of course you do. Everybody does. And it only costs eight bucks. That's right, for eight bucks you can go to a movie theatre and watch Bruce Willis or Arnold Schwarzenegger deliver two solid hours of stunning imagery, special effects, lighting, action and thrills, splashed across the big screen in blazing color and Dolby Surround Sound. These days, with a few thousand dollars of equipment, you can even get the same thing, maybe better, at home. Yes, people like to be impressed, and Hollywood thinks nothing of spending $100 million on a picture so they can give the people just what they want. And they do a great job of it. You Can't Compete With Hollywood But one of the worst things you can do is deliberately try to impress your customers. Why? B

qua non of Success.

The quality of the local partner is the indispensable element for emerging market success. So where do you begin?

Of course you should do your best to avoid technical miscues, but the better strategy is to pick your partner well.

So what should you look for in a local partner? Political connections? Yes and no:

Yes, because you probably will need someone with sufficient dexterity to maneuver around often-suffocating business laws and a bureaucracy that may try to cut in on your business at every turn.
No, if you think that is all you will need. Just as in the West, the politically connected are usually more a "government type" than a business person. Partnering with someone in an emerging country with whom you would never consider partnering back home is a mistake.

Your partner's character and reputation are your protection in countries where the court system is not. Do not partner in any sense of that term without having conducted thorough due diligence.

PRINCIPLE TWO: Keep an Open Mind. Assume Nothing.

Doing business in an emerging market means

Are Expectations and Boundaries Clearly In Place?
Watching young children at play is, of course, entertaining. For the businessperson, watching young children at play can also be educational. Sometimes kids run amok; they can be aggressive, destructive, and unmanageable yet n other situations they are orderly, polite, and delightful. I don’t think the difference has anything to do with the way the planets are aligned. I think the difference is that, in the latter instance, parents and educators have established expectations and boundaries, they have communicated them clearly, and follow up to insure those expectations and boundaries are met. When youngsters know what is expected of them, what they may or may not do, most rise to the challenge. In a broad generalization, when expectations and boundaries have been established the children have an increased ability to learn and communicate, they become more productive and accomplished.The reason this is education

minate your right to sue your partner for having stolen all of your money. It might even lead to you and your company being kicked out of the country, while your assets remain.

Of course you should do your best to avoid technical miscues, but the better strategy is to pick your partner well.

So what should you look for in a local partner? Political connections? Yes and no:

Yes, because you probably will need someone with sufficient dexterity to maneuver around often-suffocating business laws and a bureaucracy that may try to cut in on your business at every turn.
No, if you think that is all you will need. Just as in the West, the politically connected are usually more a "government type" than a business person. Partnering with someone in an emerging country with whom you would never consider partnering back home is a mistake.

Your partner's character and reputation are your protection in countries where the court system is not. Do not partner in any sense of that term without having conducted thorough due diligence.

PRINCIPLE TWO: Keep an Open Mind. Assume Nothing.

Doing business in an emerging market means

Seven Commandments for Getting a Low Cost Car Loan
1. First check your credit rating. A good credit history will enable you to avail a low cost car loan on attractive terms and conditions. A good credit rating will also improve your loan approval chances.2. Spend time researching in the market about the actual cost of your dream car. Compare prices from various local dealers. Look around for offers and discounts and talk with at least three dealers to get a better deal.3. Calculate your monthly income minus all your spendings to find out how much you can afford as a monthly installment. Be realistic in your analysis. A thumb rule is that your monthly installment should be less than 20 percent of your monthly earnings.4. Make sure you have enough money for the down payment. Make provisions for as much down payment as possible.5. Don’t get lured by the car loan rate from the manufacturer or the dealer. They can be exorbitant. Don’t get trapped in m

ider partnering back home is a mistake.

Your partner's character and reputation are your protection in countries where the court system is not. Do not partner in any sense of that term without having conducted thorough due diligence.

PRINCIPLE TWO: Keep an Open Mind. Assume Nothing.

Doing business in an emerging market means

Drop Shipping Scams
I hear from people all the time who have lost a ton of money selling products online because they were scammed and received a fraudulent order. Just today I heard a disturbing story about a person who was using a drop shipping company to sell products on eBay. The person who bought the electronic (first hint that it could be fraud if its electronics and they want you to ship overseas) was asking for special request like "I want to buy this for a family member and ship it to Nigeria".Most that are new to drop shipping and Internet business are excited to get their first order and all they can think about is the profit. They do everything they can to get the order processed properly (and fast to not make the buyer mad) and find out after then order has shipped that they credit card, or payment used was fraudulent and they see none of they money. The problem is they have already bought the item from their drop shipp

th you for the long term, he will expect you to want to get to know him better and think nothing of your wanting multiple meetings before signing any deal.

PRINCIPLE TWO: Keep an Open Mind. Assume Nothing.

Doing business in an emerging market means taking nothing for granted. I have a mantra for my own legal work in these countries that translates well to the business world: "Assume nothing, but assume that you are assuming things without even realizing you are doing so."

Things will be different. Very different. Things you take for granted in your home country might not exist in the emerging market country. Things you take for granted in your home country might be the exact opposite in the emerging market country. Things you think will be totally different in the emerging market country may be exactly the same. Things you thought you knew about emerging market countries based on what you know from another emerging market country may be completely different in a neighboring country, or even in another region within the same country.

The principle, one more time: Keep an open mind, and assume nothing.

PRINCIPLE THREE: Participate in Everything.

In many emerging market countries, local businesses take advantage of corruption to avoid complying with laws. This may work for the locals, but it won't work for you. The easiest way for a local rival to drive you out is for you to do something illegal. Neither you nor your government will have good grounds to complain if your rival gets your business closed down due to your illegal activity. It might even be your own partner who reports you so he can assume full ownership and control of your business.

You must have your own people on the ground, leading, training, and instructing on business methods, business ethics, efficiency, and quality control, among other things.

We have a saying in our law office that one day of face-to-face meetings with local counsel is equivalent to one month of telephone calls and e-mails in terms of getting things done. This is equally true on the business front.

PRINCIPLE FOUR: Exercise Extreme Patience.

This principle stems from the maxim that everything takes twice as long as you think it will. If it takes twice as long in the West, triple that in emerging market countries. You'll go in both as a businessperson and a teacher—and in both roles, the learning curve of your partner will almost certainly take way more time to deal with than you think.

For example, many emerging market countries have a history where "bad business" meant "thinking long-term." A year or two after the fall of Soviet communism, I was involved in a matter where an investor put $250,000 into a Russian joint venture. The business very quickly was making good money and all indicators pointed towards steadily increasing profitability. But, quite quickly, the Russian company stole the $250,000. Was it so irrational for him to think so short term in a country where the government and tax systems had such a history of unpredictability?

Remember: It takes patience to encourage change of mindset. Extreme patience.

EMERGING MARKET SUCCESS

Emerging markets cannot be approached with a quick-kill mentality. Above all else, emerging market success demands a good partner, an open mind, a high degree of participation, and extreme patience.

It is certainly risky. It can also be very profitable.

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Income tax is payable by any individual who earns more than a specific sum of money as salary or profit. It is liable only to people earning above a certain minimum limit and people earning less than that are exempted from paying any kind of income tax. Income tax lawyers specialize in computation of income tax and deal with various issues pertaining to standard tax deductions and rebates applicable to individual taxpayers. Every taxpayer has to file income tax returns at the end of a financial year and pay the income tax applicable to them. Income tax returns help taxpayers check whether they have paid the right amount of income tax and maintain a record of it.

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