pczz wrote: ↑Thu Apr 16, 2020 5:48 pm

theKid wrote: ↑Thu Apr 16, 2020 1:50 pm

pczz wrote: ↑Thu Apr 16, 2020 3:50 am Most people who come to Cambodia tomake there forunes wind up going home with nothing, or in a a box. the cost of doing business here can be huge. bereuacracy, bribes, sky hgh rent, sky high electric prices, visa, work permits etc etc. Do not even consider it unless you have a lot of money to waste. Befoe you invest a penny come here, look, and stay a year

That’s utter BS unless, perhaps, your are only counting “daydreamers” that wanted to open a bar or restaurant on a shoestring budget and with little or no knowledge and experience.

Cambodia’s GDP has almost tripled in the past 10 years and there have been massive amounts of FDI flowing into the country (officially almost 10 billion USD in the past 3 years but unofficially much more). You wanna tell me that no one profited from that? The amount of money foreigners can make here is insane!
I initially didn’t want to move my operations here but was persuaded by my clients and, looking back, it has been immensely lucrative.
Rent is expensive????? My HK office costs over 20K USD per month in rent!

First, i did not say noone made money, just the majority. Big companies are entirely different to the OP's comments. you are not comparing like with like. Yourent i Hong kong is totally irrelevant. you cannot comnpare. that is like comparing rent in Wall st with rent in some small midwest town

theKid wrote: ↑Thu Apr 16, 2020 6:01 pm

pczz wrote: ↑Thu Apr 16, 2020 5:48 pm

theKid wrote: ↑Thu Apr 16, 2020 1:50 pm

pczz wrote: ↑Thu Apr 16, 2020 3:50 am Most people who come to Cambodia tomake there forunes wind up going home with nothing, or in a a box. the cost of doing business here can be huge. bereuacracy, bribes, sky hgh rent, sky high electric prices, visa, work permits etc etc. Do not even consider it unless you have a lot of money to waste. Befoe you invest a penny come here, look, and stay a year

That’s utter BS unless, perhaps, your are only counting “daydreamers” that wanted to open a bar or restaurant on a shoestring budget and with little or no knowledge and experience.

Cambodia’s GDP has almost tripled in the past 10 years and there have been massive amounts of FDI flowing into the country (officially almost 10 billion USD in the past 3 years but unofficially much more). You wanna tell me that no one profited from that? The amount of money foreigners can make here is insane!
I initially didn’t want to move my operations here but was persuaded by my clients and, looking back, it has been immensely lucrative.
Rent is expensive????? My HK office costs over 20K USD per month in rent!

First, i did not say noone made money, just the majority. Big companies are entirely different to the OP's comments. you are not comparing like with like. Yourent i Hong kong is totally irrelevant. you cannot comnpare. that is like comparing rent in Wall st with rent in some small midwest town

That’s a matter of perspective then. Because most people I know have been making good money here. And why you say that the rent shouldn’t be compared? It’s exactly the comparatively low rent (and other costs, salaries, plus tax holidays etc) that have made the place so attractive.

pczz wrote: ↑Thu Apr 16, 2020 6:06 pm

theKid wrote: ↑Thu Apr 16, 2020 6:01 pm

pczz wrote: ↑Thu Apr 16, 2020 5:48 pm

theKid wrote: ↑Thu Apr 16, 2020 1:50 pm

pczz wrote: ↑Thu Apr 16, 2020 3:50 am Most people who come to Cambodia tomake there forunes wind up going home with nothing, or in a a box. the cost of doing business here can be huge. bereuacracy, bribes, sky hgh rent, sky high electric prices, visa, work permits etc etc. Do not even consider it unless you have a lot of money to waste. Befoe you invest a penny come here, look, and stay a year

That’s utter BS unless, perhaps, your are only counting “daydreamers” that wanted to open a bar or restaurant on a shoestring budget and with little or no knowledge and experience.

Cambodia’s GDP has almost tripled in the past 10 years and there have been massive amounts of FDI flowing into the country (officially almost 10 billion USD in the past 3 years but unofficially much more). You wanna tell me that no one profited from that? The amount of money foreigners can make here is insane!
I initially didn’t want to move my operations here but was persuaded by my clients and, looking back, it has been immensely lucrative.
Rent is expensive????? My HK office costs over 20K USD per month in rent!

First, i did not say noone made money, just the majority. Big companies are entirely different to the OP's comments. you are not comparing like with like. Yourent i Hong kong is totally irrelevant. you cannot comnpare. that is like comparing rent in Wall st with rent in some small midwest town

That’s a matter of perspective then. Because most people I know have been making good money here. And why you say that the rent shouldn’t be compared? It’s exactly the comparatively low rent (and other costs, salaries, plus tax holidays etc) that have made the place so attractive.

Becasue a shop in PP costs $1000 a month which is almost 125% what it costs where i live in the uk and the footfall is bigger here. Most people you know may well be making money, because of who you socialise with. Question for you. How many are douing it legally, complying wiht all the company regisration laws, employments laws and paying tax?

theKid wrote: ↑Thu Apr 16, 2020 6:20 pm

pczz wrote: ↑Thu Apr 16, 2020 6:06 pm

theKid wrote: ↑Thu Apr 16, 2020 6:01 pm

pczz wrote: ↑Thu Apr 16, 2020 5:48 pm

theKid wrote: ↑Thu Apr 16, 2020 1:50 pm

That’s utter BS unless, perhaps, your are only counting “daydreamers” that wanted to open a bar or restaurant on a shoestring budget and with little or no knowledge and experience.

Cambodia’s GDP has almost tripled in the past 10 years and there have been massive amounts of FDI flowing into the country (officially almost 10 billion USD in the past 3 years but unofficially much more). You wanna tell me that no one profited from that? The amount of money foreigners can make here is insane!
I initially didn’t want to move my operations here but was persuaded by my clients and, looking back, it has been immensely lucrative.
Rent is expensive????? My HK office costs over 20K USD per month in rent!

First, i did not say noone made money, just the majority. Big companies are entirely different to the OP's comments. you are not comparing like with like. Yourent i Hong kong is totally irrelevant. you cannot comnpare. that is like comparing rent in Wall st with rent in some small midwest town

That’s a matter of perspective then. Because most people I know have been making good money here. And why you say that the rent shouldn’t be compared? It’s exactly the comparatively low rent (and other costs, salaries, plus tax holidays etc) that have made the place so attractive.

Becasue a shop in PP costs $1000 a month which is almost 125% what it costs where i live in the uk and the footfall is bigger here. Most people you know may well be making money, because of who you socialise with. Question for you. How many are douing it legally, complying wiht all the company regisration laws, employments laws and paying tax?

There are things that you can bend a bit (because this is Cambodia) and there are things that a foreigner shouldn’t play with (also because this is Cambodia). There are things I (with a handful of staff) a can get away with, which my clients (with several thousand of workers) can’t get away with and vice versa.
There are certain transactions that I prefer to invoice in HK and there are others that are safe to do here.
But all things considered, i believe laws are mostly followed. I’m not gonna speculate on who pays full CIT and who doesn’t, we all know that’s a touchy subject.

pczz wrote: ↑Fri Apr 17, 2020 7:24 am

theKid wrote: ↑Thu Apr 16, 2020 6:20 pm

pczz wrote: ↑Thu Apr 16, 2020 6:06 pm

theKid wrote: ↑Thu Apr 16, 2020 6:01 pm

pczz wrote: ↑Thu Apr 16, 2020 5:48 pm
First, i did not say noone made money, just the majority. Big companies are entirely different to the OP's comments. you are not comparing like with like. Yourent i Hong kong is totally irrelevant. you cannot comnpare. that is like comparing rent in Wall st with rent in some small midwest town

That’s a matter of perspective then. Because most people I know have been making good money here. And why you say that the rent shouldn’t be compared? It’s exactly the comparatively low rent (and other costs, salaries, plus tax holidays etc) that have made the place so attractive.

Becasue a shop in PP costs $1000 a month which is almost 125% what it costs where i live in the uk and the footfall is bigger here. Most people you know may well be making money, because of who you socialise with. Question for you. How many are douing it legally, complying wiht all the company regisration laws, employments laws and paying tax?

There are things that you can bend a bit (because this is Cambodia) and there are things that a foreigner shouldn’t play with (also because this is Cambodia). There are things I (with a handful of staff) a can get away with, which my clients (with several thousand of workers) can’t get away with and vice versa.
There are certain transactions that I prefer to invoice in HK and there are others that are safe to do here.
But all things considered, i believe laws are mostly followed. I’m not gonna speculate on who pays full CIT and who doesn’t, we all know that’s a touchy subject.

So how much profit would you be making if you actually followed the law? and do you beleive foreigners should be allowed to come to your country and break the law to increase their profits at the expense of honest tax payers?

AndyKK wrote: ↑Fri Apr 17, 2020 7:36 am

pczz wrote: ↑Fri Apr 17, 2020 7:24 am

theKid wrote: ↑Thu Apr 16, 2020 6:20 pm

pczz wrote: ↑Thu Apr 16, 2020 6:06 pm

theKid wrote: ↑Thu Apr 16, 2020 6:01 pm

That’s a matter of perspective then. Because most people I know have been making good money here. And why you say that the rent shouldn’t be compared? It’s exactly the comparatively low rent (and other costs, salaries, plus tax holidays etc) that have made the place so attractive.

Becasue a shop in PP costs $1000 a month which is almost 125% what it costs where i live in the uk and the footfall is bigger here. Most people you know may well be making money, because of who you socialise with. Question for you. How many are douing it legally, complying wiht all the company regisration laws, employments laws and paying tax?

There are things that you can bend a bit (because this is Cambodia) and there are things that a foreigner shouldn’t play with (also because this is Cambodia). There are things I (with a handful of staff) a can get away with, which my clients (with several thousand of workers) can’t get away with and vice versa.
There are certain transactions that I prefer to invoice in HK and there are others that are safe to do here.
But all things considered, i believe laws are mostly followed. I’m not gonna speculate on who pays full CIT and who doesn’t, we all know that’s a touchy subject.

So how much profit would you be making if you actually followed the law? and do you beleive foreigners should be allowed to come to your country and break the law to increase their profits at the expense of honest tax payers?

Then again pczz there are plenty of people who are following the law, sometimes that too is not made easy to do for some, also it was not long ago when the labour minister pointed out 10 jobs we could not do but then they changed there minds, but it was mentioned that foreigners should pay an higher tax rate then Khmers.

pczz wrote: ↑Fri Apr 17, 2020 7:24 am

theKid wrote: ↑Thu Apr 16, 2020 6:20 pm

pczz wrote: ↑Thu Apr 16, 2020 6:06 pm

theKid wrote: ↑Thu Apr 16, 2020 6:01 pm

pczz wrote: ↑Thu Apr 16, 2020 5:48 pm
First, i did not say noone made money, just the majority. Big companies are entirely different to the OP's comments. you are not comparing like with like. Yourent i Hong kong is totally irrelevant. you cannot comnpare. that is like comparing rent in Wall st with rent in some small midwest town

That’s a matter of perspective then. Because most people I know have been making good money here. And why you say that the rent shouldn’t be compared? It’s exactly the comparatively low rent (and other costs, salaries, plus tax holidays etc) that have made the place so attractive.

Becasue a shop in PP costs $1000 a month which is almost 125% what it costs where i live in the uk and the footfall is bigger here. Most people you know may well be making money, because of who you socialise with. Question for you. How many are douing it legally, complying wiht all the company regisration laws, employments laws and paying tax?

There are things that you can bend a bit (because this is Cambodia) and there are things that a foreigner shouldn’t play with (also because this is Cambodia). There are things I (with a handful of staff) a can get away with, which my clients (with several thousand of workers) can’t get away with and vice versa.
There are certain transactions that I prefer to invoice in HK and there are others that are safe to do here.
But all things considered, i believe laws are mostly followed. I’m not gonna speculate on who pays full CIT and who doesn’t, we all know that’s a touchy subject.

So how much profit would you be making if you actually followed the law? and do you beleive foreigners should be allowed to come to your country and break the law to increase their profits at the expense of honest tax payers?

theKid wrote: ↑Fri Apr 17, 2020 11:10 am

pczz wrote: ↑Fri Apr 17, 2020 7:24 am

theKid wrote: ↑Thu Apr 16, 2020 6:20 pm

pczz wrote: ↑Thu Apr 16, 2020 6:06 pm

theKid wrote: ↑Thu Apr 16, 2020 6:01 pm

That’s a matter of perspective then. Because most people I know have been making good money here. And why you say that the rent shouldn’t be compared? It’s exactly the comparatively low rent (and other costs, salaries, plus tax holidays etc) that have made the place so attractive.

Becasue a shop in PP costs $1000 a month which is almost 125% what it costs where i live in the uk and the footfall is bigger here. Most people you know may well be making money, because of who you socialise with. Question for you. How many are douing it legally, complying wiht all the company regisration laws, employments laws and paying tax?

There are things that you can bend a bit (because this is Cambodia) and there are things that a foreigner shouldn’t play with (also because this is Cambodia). There are things I (with a handful of staff) a can get away with, which my clients (with several thousand of workers) can’t get away with and vice versa.
There are certain transactions that I prefer to invoice in HK and there are others that are safe to do here.
But all things considered, i believe laws are mostly followed. I’m not gonna speculate on who pays full CIT and who doesn’t, we all know that’s a touchy subject.

So how much profit would you be making if you actually followed the law? and do you beleive foreigners should be allowed to come to your country and break the law to increase their profits at the expense of honest tax payers?

I’m not breaking any law, I’m just using the flexibility that’s available. Many of my clients are Honkies and if both parties agree to invoice in HK for “services rendered” in Cambodia then no one can say anything.
None of my staff make less than 2,000 per month, the two top guys, with perks and commissions, much more than that. I do follow every freaking Prakas that comes from the MoLVT.

All I’m saying is that there is loads of money to be made when investors hastily dump millions into a tiny country. I do realise that a lot of discussions about business in this forum center around (cash strapped) western expats selling stuff to (cash strapped) western expats. Not a too viable proposition if you ask me. But there are plenty of other expats that run businesses here that take advantage of the current influx of FDI and the geo-economical sway of the KoW. (I know Western business owners here that made a fortune just from utilising the ASEAN FormE certificate selling to China, for example)