The last two decades have been a transformative era for a select few, once-troubled nations across

the globe. These previously unstable destinations have pulled themselves up by their bootstraps, enacted dramatic social change, and are experiencing unprecedented economic growth.

Middle classes are growing…infrastructure is improving…and business is thriving.

As a reader of Incomes Abroad, you’re well aware of the more-established, low-cost expat havens where you can start a business for less. But these countries are a little rougher around the edges, less developed, and present a greater opportunity for the savvy, more adventurous expat. Sure, there are still some kinks to be worked out in these places…and doing business might not be as easy as in some of the long-established expat havens, like Costa Rica or Mexico…but, in turn, you can also expect lower costs, less regulation, accommodating business laws, and less competition.

And now is the time to get in on these countries, before they become more established, well known, and saturated. If you’re willing to brave a few bumps in the road, one of these destinations could prove to be the stage for your overseas success…

By the staff of Incomes Abroad

IncomesAbroad

INTERNATIONALLIVING’SJanuary 2017

Volume 4, No. 11

FUND YOUR LIFE OVERSEAS

www.InternationalLiving.com

Earn Extra Cash Throwing Dinner Parties See Spotted on the Ground on page 17.

Also in This Issue…

Continued on page 12

TRENDING OPPORTUNITIES

COVER STORY

Continued on page 2 Continued on page 6

How to Get the Most Out of Your IdeasBy Barbara Winter

Top 5 Destinations to Stake Your Claim in 2017

High Demand, No Competition: Secondhand Retail in Latin AmericaBy Don Murray

Page 3 Filling a wellness niche in a beach town on Mexico’s Pacific coast

Page 4 A swashbuckling adventure-tour business in the Colombian Amazon

Page 10 Writing from home: become your own boss with this in-demand income

Page 14 Spain’s easy-to-get self-employment visa

Page 16 Keeping up with global opportunities

Demand is high for boutique consignment stores in expat havens overseas like the trendy beach town of Playa del Carmen.

Several months after taking one of my seminars on earning a living without a job, Pat called to me to share her excitement about her new life. She was finally starting her own business

and finding the process to be invigorating.

“I have so many ideas,” she said. “When I worked at my previous job, I never had ideas.”

“I have a theory,” I replied. “Ideas are floating around in the air, but they can’t get through cubicle barriers.”

I was joking, of course…but not entirely. There’s no doubt that

Vintage clothing boutiques…antique shops…thrift stores… In some form or another, the secondhand store has been around for decades. These stores became

a common feature in most U.S. cities during the early 20th century, as the production of textiles and clothing exploded. And they boomed in the wake of the 2008 recession.

Today, secondhand stores have hit something of a wall in the U.S. Young entrepreneurs, responding to the post-recession demand, have saturated the market with too many trendy secondhand stores. But overseas, there are places where the possibilities of secondhand retail has never been fully explored, representing opportunity for fashion-savvy expats.

With a low-cost business visa and a spectacular tropical coast, Cambodia is the easiest spot in

Southeast Asia to open a beachside business.

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International Living’s Incomes Abroad | January 20172

BARBARA WINTER

How to Get the Most Out of Your Ideas

Continued from page 1

January 2017 Volume 4 • Number 11

InternationalLiving.com

© Copyright 2017 by International Living Publishing Ltd. All Rights Reserved. Reproduction, copying, or redistribution (electronic or otherwise, including online) is strictly prohibited without the express written permission of the Publisher. Incomes Abroad is published monthly. Copies of this e-newsletter are furnished directly by subscription only. Annual subscription is $59. To place an order or make an inquiry, see: www.internationalliving.com/about-il/customer-service. Send address changes to International Living’s Incomes Abroad, International Living Publishing Ltd., Woodlock House, Carrick Road, Portlaw, Co. Waterford, Ireland. For editorial inquiries, see: www.internationalliving.com/about-il/write-for-il. Incomes Abroad presents information and research believed to be reliable, but its accuracy cannot be guaranteed. There may be dangers associated with international travel and investment, and readers should investigate any opportunity fully before committing to it.

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IncomesAbroad

Our editor-at-large Barbara Winter is the author of Making a Living Without a Job (now in print for more than 20 years), Seminar in a Sentence, and Jumpstart Your Entrepreneurial Spirit. She shares her ideas about self-employment through seminars and retreats throughout North America and Europe. She has traveled extensively and lived in six states. She currently makes her home in Valencia, California.

ideas big and small are the building blocks of every enterprise. But at the same time, your average employee will often find themselves too busy with the day-to-day rigors of the rat race to come up with any new ideas. When you start your own business, you’ll also be busy—at the start at least. But many folks find the change in environment and newfound independence naturally encourage idea generation.

And yet, others find that same freedom to be daunting. In fact, the two most frequent complaints that I hear are, “I have too many ideas,” and “I have no ideas.” While these appear to be opposite problems, the results are the same: inaction.

Neither condition will clear up by itself. You can’t outwit idea overload, nor is waiting for an idea to drop into your lap especially effective. A change in behavior, however, can work wonders. Here are some of the most effective ways to get your idea mill in full working order:

Beat the Idea ShortageWhen we’re stuck for ideas, there’s a

danger that we’ll begin attacking ourselves for being so dull, so unimaginative. That, of course, only prolongs the idea drought. Becoming proactive is the only way to start producing different, positive results.

Stop Doing What’s Not Working: Toss your dead-end thoughts in the trash. “I don’t know what I want to do,” and “Why don’t I ever have any good ideas?” are mantras that are guaranteed to keep ideas at a comfortable distance.

Start asking yourself some idea-generating questions. Many inventors and entrepreneurs frequently ask themselves questions that begin with, “What if…” What if

parents could rent toys and return them when their child outgrew them? What if I started offering yoga classes on the beach?

“What if” questions are an invitation to your imagination to get busy.

Go on an Idea Quest: Make a purposeful effort to notice good—and bad—ideas when you see them online, in newspapers, and in your neighborhood. You’re not making any real commitment or investing any cash in these ideas. But it’s a valuable exercise to become more aware of good and bad ideas, and how the whole world is made up of them.

Identify Niche Markets: This is essential. Whether it’s working with retired folks, pet owners, international home buyers, or vegan children, focusing on a group of people can be a real idea-generator. Identify the group’s common problems and needs, and make it your business to solve them.

Honor Your Own Ideas: Often, on further examination, many people who claim to have no ideas actually have plenty. They simply undervalue and discard the ones that they have. I often hear from folks who tell me about a potential idea and confess that after mulling it over they ask themselves, “Who’d ever buy that?” That’s a classic example of resistance at work.

Separate the Wheat From the Chaff

All Ideas Are Not Created Equal: Some ideas that are better than others. But when you’re using your mind as your Idea Bank, trying to juggle all your ideas, it’s hard to tell one from the other. Writing ideas down and then assigning a priority to each one will add clarity. You’ll also find it easier to see which ones excite you and which ones are simply okay.

Make Progress Visible: There’s nothing wrong with a little instant gratification. Go ahead and get that big project started. But include short-term projects on a regular basis to give you a concrete sense of accomplishment.

Be Like Leonardo: Da Vinci left a staggering body of work, along with notebooks full of ideas he never got around to implementing. You don’t have to be a genius to borrow his key to success: treat whatever you’re doing as if it’s your one and only. In other words, give your full attention to the idea at hand. This gets easier with deliberate practice. You might assign different ideas and projects to different days of the week.

Spend, Don’t Hoard: There’s often a tendency to hold onto ideas, waiting for perfect conditions or a guarantee of success. That’s a surefire recipe for frustration. While it’s often wise not to talk prematurely about your plans, quietly moving ahead with your ideas starts the momentum, which attracts resources, support, and additional solutions.

And don’t be afraid to give away an idea from time to time. After all, there’s more where that came from, and you might help launch or grow someone else’s business.

International Living’s Incomes Abroad | January 2017 3

PASSION TO PROFIT

Filling a Wellness Niche in a Beach Town on Mexico’s Pacific Coast

By Tamara Pelège

“I love my life here,” says Mary Bolton, who owns and operates a flourishing yoga business in San Pancho, Mexico.

“It’s an incredible town with an amazing and friendly community.”

When the Colorado native moved to Mexico in 2009, she first lived in the popular resort town of Puerto Vallarta on Mexico’s Pacific coast. But with San Pancho only an hour’s drive north, it wasn’t long before she was won over by its charms. “San Pancho appealed to me as a small town with a great international community, beautiful beach, and connection to nature,” says the 48-year-old yoga teacher.

San Pancho has approximately 2,000 permanent residents—locals and expats. But that number balloons in the high season during winter when the town fills up with tourists, many of whom take yoga classes with Mary. San Pancho is a lot like the popular surf town of Sayulita a 10-minute drive south…but 10 years before it became the booming tourist destination and expat haven it is now.

Despite their differences, Sayulita and San Pancho still have a lot in common and are closely intertwined because of their proximity. It would be hard to consider moving to San Pancho without taking into consideration the advantages provided by all the modern infrastructure and businesses already in place in Sayulita. A couple of successful stores and restaurants from Sayulita have even started opening branches in San Pancho. However, both towns are quite distinct and have their own individual charms.

The beach in San Pancho is a stretch of pristine, golden sand with no massive hotels or big beach resorts. There are only a couple of restaurants, private properties, and the occasional group of friends who enjoy a weekend camping on the beach.

“The main beach in San Pancho is beautiful and rarely crowded,” says Mary. “My favorite time to walk or go for a run is early morning when just a few people are out. Viewing the sunset from the beach is also special, and much of the town gathers on the beach at this time.”

Mary has been enjoying the health

benefits of practicing yoga since 1999 and, in 2005, became certified in Colorado to teach. When she came to Mexico, she almost immediately spotted a gap in the market in San Pancho, which she quickly filled.

Mary’s yoga school, Yoga San Pancho, is the town’s sole yoga school. She teaches classes at a studio she rents in town and gives private classes throughout the area at homes, villas, and boutique resorts. “I also teach workshops and retreats at various locations,” she says. “It varies depending on how many private classes I have, but, on average, in the high season I teach anywhere from 12 to 30 hours per week.”

One of the challenges of opening a business in a tourist-driven economy is adapting to the ebb and flow of clients in the high and low seasons. San Pancho is at its busiest during the North American winter. And there’s little tourist activity during the rainy season, which starts in June/July and usually lasts until the end of September. “I enjoy the irregular schedule, as well as the seasonal nature of working here,” says Mary. “The high season is busy and I am more focused on teaching, whereas during the low season I have more time for my own practice and study.

“I have regular students but also many tourists who come for just one or two classes. Every year is different, so I have to stay open to what is working and let go of what isn’t. Having a diverse background and training in different styles of yoga allows me to offer several types of classes and work with a wider range of people.”

Although she speaks Spanish, Mary teaches mostly in English and caters to expats and tourists. With yoga classes in the area averaging $8 an hour per person, it’s too expensive for locals living on a basic Mexican salary of around $300 per month. To engage with the local community, however, Mary provides “community classes” for half the price.

“I live comfortably here. I work hard during the high season and save for the low season. But my cost of living is low,” says Mary. “I love to travel and try to take a trip every year to see a different part of Mexico. Last year I went to San Miguel [de Allende] and the year before, I drove up the coast

Mary Bolton funds a comfortable life with plenty of travel by filling an English-speaking yoga

niche in San Pancho.

through Mazatlan, Guyamas, and San Carlos. I also like to visit other places in the area, such as San Sebastián in the mountains, and many of the beach towns up and down the coast.”

Yoga San Pancho is based in a big purple house up the hill on the west side of the village, and Mary rents it together with a colleague, who is a massage therapist. The house was built with the purpose of creating a yoga center, and the owner is giving them a special rate of about $150 a month. However, this price is somewhat unusual. Rents for business premises vary greatly based on several factors, including whether you rent directly from the owner, the location, if you sign a year-long contract or rent just for a couple of months, and the size of your premises. But it’s reasonable to assume that you should foresee at least $1,000 per month for the rent for most businesses, including all the utilities.

Sayulita and San Pancho are small but have a high concentration of expats, Mary has found advertising for her business to be a straightforward affair. The promotion of her classes is done mostly by word of mouth, and she has developed a steady clientele over the years and receives frequent referrals.

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BRICKS-AND-MORTAR BUSINESS

A Swashbuckling Adventure-Tour Business in the Colombian Amazon

By Ocean Malandra

Deep in the Amazon rainforest, on the shores of the Amazon River, is the small city of Leticia. You won’t

find many expats calling this rough-and-ready jungle outpost home, but it’s become a hub for adventurous travelers who look to explore the many wonders of the Amazon.

Colombia’s southernmost city, Leticia sits right on the borders of Peru and Brazil, from which the area takes its name—the Tres Fronteras (Three Borders). In recent years, the city—which still feels like a small town—has experienced a boom in tourism, becoming one of the most visited Colombian destinations by foreign tourists—second only to the seaside city of Cartagena.

Texas native David Gonzalez found a niche market catering to a particular subset of these tourists with his adventure-tour agency Amazon Xpress. While Leticia is chock-full of tour operators, almost all cater primarily to middle- and upper-class Colombians from Bogotá and Medellín. David sets himself apart by targeting visitors who want a native English-speaking guide and more personalized service.

“My client base is quite diverse,” says David. “I work mainly with non-Spanish

speaking customers—Americans and Europeans. I have had retired couples, as well as young adults and families. I think the perfect size group is six or fewer people, but I have managed larger groups of 15 to 30.”

From piranha fishing to night hikes to spotting phosphorescent mushrooms glowing under the stars, David arranges a variety of custom tours into the Amazon, catering each tour to his clients’ preferences.

“My approach is to get a feel for what people want to do and then give them options based on the amount of time they will be in the area,” says David. “It’s more of a ‘Lego’ approach.

“This gives people the opportunity to spend more time doing the activities they want and get more out of their jungle experience. We cover the entire range of activities, from day trips to overnight trips on the river.”

David also offers private tours, which he runs himself on one of his three boats. He charges between $150 and $250 per person per day.

But David wasn’t always the swashbuckling Amazon explorer he is today. “I spent roughly 17 years in corporate America, in the mortgage and credit card industry. But even then I spent as little time in the office as possible and would forward my office phone to my cell phone and head out to the beach and other outdoor activities as much as possible,” says David.

It’s no wonder he’s better suited to his current gig guiding groups and individuals into the most biodiverse ecosystem in the world. It allows him to fulfill his passion for the outdoors and make enough to live comfortably as well.

David enjoys a balanced life in Leticia, with all the conveniences of a small city and the Amazon rainforest with all its natural wonders right on his doorstep.

“The first time I arrived by plane, I was astonished by the sheer size of the Amazon—the sea of trees that expanded to the horizon in all directions,” David

says. “It was truly mesmerizing. If you are looking to get away from the mainstream hustle and bustle, Leticia is definitely the place to be. You can stay completely oblivious to everything going on in the outside world.

“Even if you are connected to media and current events, you definitely appreciate the ability to control how much information to take in. You can feel distanced from everything going on whenever you want to.

David Gonzalez worked in corporate America for almost 17 years…but he always dreamed of a

low-stress life filled with adventure.

David sets his tour business apart by targeting visitors who want a native English-speaking guide and more personalized service.

David says that working in tourism can be profitable in Leticia but notes you have to watch your costs. And, he adds, the margins vary based on the exchange rate and other local factors that are out of your control. For example, the recent drop in the Colombian peso, which has nearly halved in value in just a year or two.

“But the rising price of the dollar is actually good for tourism. The dollar goes further as the local currency goes down,” says David.

In fact, the strong dollar is driving a tourism boom in Colombia right now because today the country is as inexpensive as other traditionally affordable Latin American destinations like Peru and Ecuador. Colombia saw a 14% increase in tourism in 2014 and another 12% jump in 2015.

For the most part, David’s tours are simple enough to organize, as there is an abundance of different natural areas just outside of Leticia itself.

International Living’s Incomes Abroad | January 2017 5

BRICKS-AND-MORTAR BUSINESS

“From our location, it’s not necessary to go extremely far to get the full experience of what the Amazon jungle has to offer,” he says. “The farthest lodge that I bring folks to is only four hours by the river.”

David says that the hardest part of becoming an Amazon tour guide is getting familiar with the wilderness areas themselves and making connections with the locals—something that David invested significant time in before opening up shop.

“My first trip to the Amazon was in 2000,” says David. “I went to help translate for a medical missions team that was going down into the Javari River to some remote villages. I did a second trip in 2003 and, in 2009, decided to move down.”

As the only English-speaking expat living in the area full time, David began posting recommendations in English on TripAdvisor and soon became the top-rated resource for Leticia on the site. Although he did this just for fun at first, he started receiving emails from folks interested in visiting this part of the Amazon rainforest who were looking for tips and advice.

Colombia to be straightforward. “The costs to start up a tour agency like

this one are minimal. Boats are expensive, but you do not need them to start the business. Reliable boats are available to rent from other companies. I don’t have any full-time employees, but I use contract day labor for all my trips,” he says.

“It’s similar to opening a small business in the U.S. There are some forms to fill out, and you register with the national tourism agency and chamber of commerce. There’s no reason to operate without the necessary documents since it is not hard to obtain them.”

David continues to invest in his company, slowly building it up to accommodate more and more visitors.

“We have a 33-foot, 18-passenger boat that we had built for travel to the more remote locations,” says David. “It’s built for speed but has a large capacity for cargo and passenger space.”

Although most of his tours are in the immediate area, some customers like to stray off the beaten path and visit destinations like the deep jungle down the Javari River, which empties into the Amazon just outside of Leticia.

“I also have a six-passenger boat for short day trips and a small 15-foot fishing boat for four passengers,” he says, adding that he also sometimes just hires a local with a boat for short trips if it saves him time and money.

“The biggest challenge for the business, as in most small towns, is gaining acceptance from the locals and other competitors that work in the same market

space,” says David. “Logistics for larger groups can be a challenge too. Finding consistent and reliable help that are willing to buy into putting the customer ahead of the financial gain goes against the local culture.

“You definitely stand out more since there are very few [expats] here full time. There will always be people who will treat you like an outsider regardless of how long you live here and know the area. You just have to learn to own it!”

But there are some perks to setting up shop in isolated areas as well.

“Due to its remote geographic location, there are also some tax breaks and other special concessions that are made by the Colombian government to local businesses,” says David. The government offers 20 years of income tax exemption for all ecotourism operations. And with recently announced daily flights from Bogotá on Viva Colombia, the country’s new low-cost airline, David expects to see even more tourists using Leticia as a home base to explore the rainforest.

David is proud of the business he’s built out here and loves his job, but he cautions that this kind of work isn’t for everyone.

“I would say that you have to love it. Make sure you know to do your homework and know the area well. Establish a good working relationship with locals, especially when working in areas where there are indigenous and tribal groups. There are many things to fall in love with in Colombia. The people are happy and family oriented, and there is a national pride for all things Colombian that is contagious.”

David’s clients enjoy a customized tour experience that allows them to create their ideal Amazon experience.

The government offers 20 years of income-tax exemption for all ecotourism operations.

This led to David opening his tour company.

“Most of my customers came through face-to-face contact on the streets and through TripAdvisor. Most people have looked at what is out there and usually contact me because they are confused by the number of choices—they all have the relatively same activities—and want advice on which one to use.

“That is where I find out what their expectations are and sell them on creating the itinerary for them and putting it together for them, charging for it as a package,” explains David.

David, who now has an office in town and owns three different river boats, says he found the process of starting a business in

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COVER STORY

Top 5 Destinations to Stake Your Claim in 2017

Continued from page 1

Easy CambodiaBy Steven King

In recent years, Cambodia has emerged as one the most flexible havens for expat business—both for large multinationals and smaller individual-owned enterprises. Following the reintroduction of democracy to Cambodia in the 1990s, one of the most urgent priorities of the government was to attract business investment to help build a much-needed economic base for the country.

They quickly established laws that actively encouraged foreigners to visit and reinvigorate the tourism industry, as well as provided incentives for international companies to invest in Cambodia as a center for commercial and industrial business in the region. As a result, you’ll enjoy many benefits as a foreign business owner, not the least of which are fewer regulations, accommodating business laws, and a straightforward, low-cost business visa.

“I have the right to own 100% of my company without any need for local shareholders,” says Andy Lake, owner of AV Digital 365. “I recently decided to move my audio-visual production company here rather than another Asian country because I can own everything, the visa situation is pure simplicity, and when it came to incorporation all I had to do was pay a small fee of around $1,000 for a local legal broker to run all the paperwork for me.”

With one of the most accessible visa policies in the region, Cambodia is now home to more than 100,000 expats living and working amidst an unprecedented boom in tourism. In 1995, Cambodia welcomed just over 200,000 tourists. But two decades later, that number is creeping closer to 4.8 million.

“Tourist visas are so easy to get you can simply buy them online before you arrive in Cambodia,” says Rachel Jenkins, owner of the River Coffeehouse in Cambodia’s capital, Phnom Penh. “For expats to obtain a business visa, you simply arrive at the airport with a valid passport, fill in an immigration form, provide a photo and pay a $35 fee. These are valid for just one month, but can easily be extended for up to a year for $285 at a local travel agency. It all takes less than 10 minutes.

“Unlike other Asian countries, there are no age limitations or minimum income requirements,” says Rachel. “Instead, the general policy is that as long as you are bringing money into the country, then anybody setting up a new business is more than welcome.”

For Morgan Parker, an American art and antique dealer who is currently opening a gallery in Phnom Penh, the main benefit of doing business in Cambodia has been the rock-bottom cost of living. “My personal monthly expenses are very low in Cambodia. The same applies to a lot of my business overheads and startup costs, such as paying a team to help construct parts of my new gallery, as well as hiring sales staff,” says Morgan. “In Phnom Penh, there are many university-educated graduates who speak English and are willing to accept a full-time position working for $200 to $300 a month. Rents can also be reasonable, starting from $500 upwards, depending on the location, while utilities are rarely over $100 per month.”

However, there are downsides to doing business in an environment like Cambodia’s. Although the government has gone to great lengths to welcome international businesses, there are still some wrinkles to be ironed out on the ground.

According to many expats, starting and running a business—while significantly cheaper than in the States—requires the payment of a number of unofficial fees, or what is referred to in Cambodia as “tea money.” For example, once your company is fully registered, you must pay your taxes to comply with Cambodian law. In order to pay your taxes, you need to pay an unofficial $20 “facilitation fee” at the tax office each month. These fees fall into a legal gray area, but most expats accept that it is simply a part

Medellín, Colombia’s second-largest city, has established itself as a hub for digital nomads and technology businesses.

of doing business in Cambodia. And there are still plenty of advantages to basing your business here.

Andy Lake says the small cost of setting up his company, as well as his low running costs, make Cambodia the perfect place for him to do business. “The technology and internet infrastructure here is at such a level that I can run my business with minimal overhead, which means I can provide reasonably priced services to clients and make a larger profit margin. When I was trying to work from America, my costs were so high that I couldn’t survive. But now that I have relocated, my business is flourishing.”

Accommodating Colombia By Nancy Kiernan

Colombia has risen from the ashes to become Latin America’s fastest-growing economy and a stable and welcoming environment for expat business. Particularly in the realms of tourism and technology, Colombia has much to offer expat entrepreneurs in the way of low costs, low regulation, and an ever-improving infrastructure to accommodate growth.

You’ll find the process of setting up a business to be uncomplicated and quick. You can register your company with the Cámara de Comercio (chamber of commerce) in the town you’re opening your business in just one week. Obtaining a company-owner visa to either open a new business or purchase an

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COVER STORY

existing one requires that you invest $23,000 in the business.

However, be aware that there is a steep learning curve to understanding the laws, corporate structure, and accounting and tax requirements in Colombia. “The tax laws for what makes a receipt eligible for deduction was a complete surprise to me,” says Mike Edwards, a travel agency owner. “But with the help of my accountant, I was able to easily make my bills and receipts conform to Colombian law.”

Medellín, Colombia’s second-largest city, is often referred to as the Silicon Valley of South America—having established itself as a hub for technological business and a home base for a thriving community of digital nomads. (These are folks who earn with flexible online incomes and live where they please. For our full report on digital nomads, see your September 2016 issue of Incomes Abroad). In 2013, the Wall Street Journal and Citigroup named Medellín “The Most Innovative City in the World” in recognition of its incredible transformation. And it shows no sign of slowing down anytime soon.

Digital nomads have flocked to Medellín, drawn by the low cost of living, high-speed internet, and buzzing social scene. They’ve established a grassroots network of like-minded entrepreneurs who meet to discuss ideas, share experiences, and provide support for each other. With free Wifi widely available across the city, many of these nomads work on their laptops in trendy coffee shops. But others prefer to work in one of the many co-working spaces that have sprung up across the city to accommodate the influx of nomads. In the past year alone, 10 new spaces have opened up to meet the demand.

Entrepreneur Rich Holman recognized this demand and opened Global Express

Business Center in mid-2016. The center caters mainly to foreigners visiting or living in Medellín. “We offer furnished offices, co-working spaces, legal and accounting services, visa assistance, property management services, and even a money exchange and a language school,” says Rich. “The space was 50% committed with tenants before we even opened the doors. And every day I get requests for information

from businesses wanting to know more about joining.”

Mark Richardson and his wife Carron have started a cosmetic manufacturing company. One of the more important business benefits is that labor costs and the overall cost of living are significantly lower. “We found that we could hire experienced cosmetic chemists for one-third of the cost in the U.S.”

Tourism is another sector in Colombia that has experienced unprecedented growth. In 2015, 2.56 million international tourists visited the country. That’s a 12% increase over 2014 numbers (and a 300% increase since 2002), making it South America’s fastest-growing tourist destination. And it’s easy to see why. Colombia is the second most biodiverse country in the world. Visitors can enjoy the lush, green coffee country, sparkling white-sand beaches, or quaint villages filled with colonial architecture.

Not one to rest on its laurels, Colombia has launched a $2.9 billion plan to upgrade and expand its busiest airports, in order to support the increase in visitors to the country.

Mike McMurdo, chef and owner of Ouzo restaurant in Santa Marta, notes that the influx of tourism has resulted in an increased number of expats on the ground. “Santa Marta has changed dramatically in the past several years,” he says. “It’s much more culturally diverse than when I first came in 2009. I see a lot of expats coming from the U.S., Switzerland, and Spain. There really has been extraordinary growth and change. As a result, Ouzo is booked solid during peak lunch and dinner time.”

Fast-Growing PeruBy Steve LePoidevin

In the year 2000, more than half of Peru’s

population was living in poverty. In fact, according to the most recent numbers, from 2012, the Peruvian middle class has grown by 82 million people since 2000.

With extra cash in their pockets for the first time in a long time, these folks are looking for new and exotic experiences, which presents a distinct opportunity for expat investors. In addition, its tourist industry is expanding at an unprecedented rate. Add to that the low overhead costs, relaxed regulations, and simple visa process, and you have a country ripe for small business.

In 2016, Peru welcomed over 3 million international tourists, and just about one-third of them embarked on the sky-high trek to Machu Picchu. Recently, the processes that new businesses in the tourism sector must follow to obtain a license and operate in the city of Cusco, a hub for tourist activity, have been simplified and streamlined.

“Removing these superfluous requirements made it easier for a wider variety of firms—especially small and medium enterprises—to operate in the tourism industry,” says Marialisa Motta, who works in the World Bank Group’s Trade & Competitiveness Global Practice.

Cusco’s proximity to Machu Picchu makes it the most visited city in Peru. However, Colca Canyon (reached from the city of Arequipa), Nazca Lines (Ica), Lake Titicaca (Puno), and the Amazon (Iquitos) are other popular tourist destinations that still have lots of potential for growth.

Expat entrepreneurs have begun to tap into this massive industry. Small businesses are opening that are related to ecotourism, adventure tourism, bird watching, international gastronomy, accommodation, and various tours. But there is still room for much more. It’s estimated that Peruvian tourism could expand as much as tenfold in the coming years.

New Zealand native Ed Madden recently opened The Kiwi Corner in Arequipa, one of Peru’s most popular expat towns, with his partner, Andrea Espinoza. It didn’t take long before their new sports bar and grill began to attract a steady clientele. Ed figures his current customers are about 60:40 locals to expats and has found the cost of doing business here to be low.

Foreigners have the right to own freehold property and businesses with no restrictions. Relatively inexpensive properties are still available, especially outside the city centers. However, most expats still continue to lease business properties on a long-term basis.

The colonial city of Cusco is the most visited city in Peru, due in large part to its proximity to the ancient mountaintop ruin of Machu Picchu.

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I’ve seen the positive effects of this law firsthand. During the past nine years alone in the popular beach town of San Juan del Sur, the number of restaurants has blossomed from around 15 to more than 60—and 80% of these are owned by expats. Now the city is getting a foodie reputation, which is bringing more tourists. And everyone has benefited from it. There are more jobs, more customers; business is thriving and the city is flourishing.

Bobby Hottensen opened a craft beer restaurant in November 2014 with two partners that was profitable immediately. It was tourist high season, and foreigners from all over the world streamed in looking for the craft beer they couldn’t find anywhere else in the country. San Juan del Sur Cerveceria was Nicaragua’s first-ever craft beer establishment—and the demand was high. Now, two years later, Bobby and his two business partners say they love living in Nicaragua and plan to stay here for a long, long time. They are also working on plans to export their beers to the U.S.

“It is exciting doing business in a country that is growing so quickly in a number of sectors, particularly tourism,” says Bobby. “It helps that the Nicaraguan government has taken a supportive role in promoting tourism-based businesses by offering incentives like Law 306. We took advantage and were able to import brewing equipment with limited tax implications when we started our business in 2014.”

Law 344 is another law that is extremely beneficial to expats. This law guarantees certain rights for expats and offers legal security, transparent laws, and generous financial incentives for investments in duty-free zones, forestry, mining, and tourism.

This law gives expats the same rights as Nicaraguans to do business in the country. It does not require a minimum or maximum investment, eliminates restrictions regarding the amount of money a foreigner can bring into the country, and allows transactions to be conducted in U.S. dollars. It also gives easy access to financial benefits in local banks, such as being able to open a business and personal accounts easily, transfer money, and work in both dollars or cordobas (the local currency).

Ben George, who opened a hand-crafted ice cream shop called KISS ME with his wife Sheena in the mountain town of Matagalpa, says, “It is so much easier to create a business here in Nicaragua than it is in the U.S. There is much less regulation and dollars go so much further here than in the U.S. We believe

In Arequipa, business rentals can still be found for less than $1 per square foot in the popular historical center. Full-time monthly wages for employees are less than $250 per month. And local markets and nearby wineries provide food and beverage supplies for far less than he would pay back home.

Ed says, “A Kiwi guy came in here a couple of days ago. He told me it cost him almost $250,000 just to get started in New Zealand with a restaurant. There’s no way I could have afforded to do that.”

Alan Pater recently opened a small sushi restaurant a few blocks from Arequipa’s famous Plaza de Armas. He had looked at several properties before choosing his current location. “We are paying $350 per month for about 325 square feet of space,” says Alan. “We looked at a larger space located right in the Plaza de Armas that was going for about 90 cents per square foot.”

Add in a low cost of living for a great lifestyle, and you have a successful combination on your hands. Rents are cheap and day-to-day living costs are low. Although the public healthcare system is not as developed as in some countries, there’s a network of excellent private hospitals and clinics throughout the country. Private healthcare insurance can be purchased for as little as $200 per month. Unlike many countries, it’s possible to enroll until at least the age of 71.

There are several options available, including the investor visa and work visa. The investor visa requires a capital investment of $30,000 and employment of five Peruvians over a period of two years. Some folks open their business through a law firm. On paper, it’s under the law firm’s name, and they act as the managers. They help you through the process of obtaining a work visa and employ you in the company. In two years, after

obtaining permanent residency, the company is returned to your name. They charge about $2,000 for this service.

Even a rentista (retirement) visa gives you the option of starting a business. In two years, after you’ve obtained permanent residence, the company is returned to your name. This is the most cost-effective way to do it if you have the time to spare. At that point, you can apply for permanent residence and have all the rights of a Peruvian citizen, except for voting. To satisfy the requirements of a rentista, you must have a monthly pension or other guaranteed income of at least $1,000.

Virgil Ruiz and John Tovar, from the U.S., recently opened a medical supply business in Arequipa. Virgil says, “Getting an investors visa is an easy process now and a lot of it is via the internet. Now you just have to upload your documents and pay your fee. You don’t even have to show up. And the renewal process is also easy.”

Business-Friendly NicaraguaBy Bonnie Hayman

Much like Costa Rica 40 years ago, Nicaragua is underdeveloped, and actively seeking foreign investors. Recognizing the important role of tourism in the growth of the economy, the Nicaraguan government has taken steps to incentivize investment in the industry. With low overheads, financial incentives, minimal regulation, and the ease with which an expat can open an enterprise, it’s easy to see why many folks from the U.S. and Canada choose Nicaragua to open their dream business.

The Tourism Industry Incentive Law (also known as Law 306) provides serious financial benefits to those wanting to open any business in the tourism industry,

including hotels, restaurants, bed and breakfasts, motorcycle and quad rental businesses, tour companies, and more. The benefits vary depending on the business. But if you qualify, you’re exempt from paying the following for 10 years: hospitality tax, property taxes, value-added tax, and import tax on goods brought into the country to help your business.

You do not have to use Law 306 to open a business, but if you don’t, you’ll then be subject to the normal business taxes listed above.

The restaurant scene in San Juan del Sur has blossomed thanks to Nicaragua’s expat-friendly business laws.

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COVER STORY

get certificates for fire safety, music intellectual property rights, and food sales.”

Most existing businesses in Vietnam are independently owned and operated. The franchises that are ubiquitous in the West are largely absent in Vietnam. Even major international chains such as Starbucks and McDonald’s have barely made inroads here. This means that investors who don’t have deep pockets are still able to successfully operate mom-and-pop restaurants, shops, and galleries without having to compete against large franchises.

According to Shahar, “While Hanoi has been going through intense development for over a decade, there are still many untapped opportunities where a smart and lucky entrepreneur can stake a claim.”

Even though it’s no longer required—after a recent change in legislation—the majority of expats find that having a Vietnamese business partner makes running their business much easier. Since so much of Vietnam’s business environment is dependent on relationships, status, and cultural awareness, having a good Vietnamese partner will add value to a business. Having said that, a handful of entrepreneurs have successfully owned businesses here on their own.

“When we started, we couldn’t be 100% foreign-owned,” says Mark Gustafson, who owns a restaurant in Ho Chi Minh City. “When they changed the law about a year ago, we restructured our company to be 100% foreign-owned. We were a family restaurant making it up as we went along, and now we’ve become a functional company.”

In practice, though, the ease of opening a 100% foreign-owned business varies greatly depending on the location. According to the 2015 Vietnam Provincial Competitiveness Index, Da Nang tops the list as the best province in Vietnam to do business. Ho Chi Minh City also ranks reasonably well. Foreigners often own businesses where other foreigners tend to live, such as in the cities of Nha Trang, Hoi An, Hanoi, and Da Lat. But the lack of transparency and confusing local interpretations of law frequently present challenges. That’s why most expats opt to take on a Vietnamese partner.

The cost of doing business in Vietnam is low, and you’ll find labor to be particularly

we saved at least $100,000 in opening here versus California. And in Nicaragua, we have a wide open market, with no competition.

“As with working with any state and local government, there’s always a process to figure out. I wouldn’t describe it as ‘difficult,’ but it does take time to get through it all. Much of the time spent depends on the quality of the lawyer you have helping you, so be sure to ask for references.”

Ben and Sheena have this advice for investors: “To those on the fence about moving to Nicaragua, I’d recommend doing your research, but ultimately taking the risk. The process is challenging and there is a financial risk, but the payoff is more than rewarding.”

Emerging VietnamBy Wendy Justice

Just 30 years ago, after emerging from decades of war, Vietnam was one of the poorest countries in the world. Most of its existing infrastructure was damaged or missing, and living conditions were abysmal. That all changed when a series of sound economic reforms called the đổi mới were introduced in 1986. Today, Vietnam has one of the fastest growing economies in the world and it’s apparent everywhere.

Since I first visited Vietnam in 2005, I’ve watched motorcycles replace bicycles and automobiles replace motorbikes. Upscale malls that didn’t even exist in 2005 are now crowded with Vietnamese shoppers with disposable incomes, and kids with braces on their teeth and expensive eyeglasses are now common sights.

Despite this rapid growth, the market is nowhere near saturated and there are still plenty of gaps in the market and business niches to fill throughout the country. There’s also less regulation of new businesses compared to many other countries in the region, and the cost of labor and doing business is low.

In the West, opening a new business requires passing nearly endless inspections and applying for multiple licenses. But in Vietnam, the process is quick and inexpensive—with minimal inspections and licensing requirements.

Shahar Lubin, a native of the U.S. who owns a Middle-Eastern restaurant in Hanoi called Daluva’s, explains, “Getting the business license is the easy part. Additionally, we have sub-licenses certifying the health and hygiene of our employees, as well as a sub-license for food sales. We also needed to

inexpensive. Most employees are paid between $125 and $200 per month for full-time work. “In our shop, we pay staff with basic knowledge $133 to $155 per month for full-time work,” says Silen Garrigues who owns a French patisserie in Hanoi. “A chef with one to three years of experience will start at $221 per month, and we will pay a shop manager $310 per month with a bonus as a starting salary—up to $443 per month if they are experienced.”

Mark Gustafson estimates that the cost of starting his business in Vietnam was one-tenth of what he would have paid in the U.S. “I always wanted my own restaurant, but in Chicago you need about a million bucks to start anything, and I just couldn’t do it.” His modest investment brought immediate results. He says that in the first three or four months, the restaurant was experiencing an hour wait for tables with a line out the door. “More than we could ever anticipate, we had success right away,” says Mark.

Doing business in Vietnam is much easier in some ways than it would be in the U.S. There aren’t as many regulations, and the government is actively trying to recruit foreign businesses. Since Vietnam is still developing, things can be a bit speculative. But opportunities await those who are inspired to operate in a country that has not yet become saturated with foreign businesses.

Suzanne Lecht, who owns Art Vietnam, an art gallery in Hanoi, expressed what many expat business owners have said. “You have to be comfortable with uncertainty and be willing to go with the flow. We expect things to be logical and standard, but that isn’t the way here.”

Editor’s Note: For more on the emerging opportunity in Vietnam, check out our in-depth report in your November 2016 issue of Incomes Abroad.

Expats are allowed to own 100% of a business in Vietnam, thanks to a recent change in legislation.

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FREELANCING

Writing From Home: Become Your Own Boss With This In-Demand Income

By Nanette Witmer

My average morning is a pretty low-stress affair. After making a fresh pot of local Panamanian coffee,

I like to take a moment on my front porch to enjoy the cool morning breeze. The view from my home in Panama’s verdant Chiriquí province is something else—in the distance, Volcan Baru, Panama’s tallest mountain, stands sentinel over fertile valleys and rolling green hills.

After my cup of coffee, I set up my computer outside and put in a couple of hours of work until the sun gets warm enough for a dip in the pool. Then I have lunch. In the afternoon, depending on social obligations, I might work for another hour or two…or not.

That’s the beauty of freelancing. Whether you’re stretched out on a beach in Costa Rica, backpacking across Europe, or just sitting home in your pajamas, you decide how much time you want to devote to working and when. The freedom of my freelance job allows me to take time off without permission from a boss and work more hours when I have added expenses. I have complete control over what I do.

These days, businesses all over the world employ freelancers for almost every aspect of their business. This allows companies to draw from a worldwide pool of qualified people without making any hefty salary commitments. According to a report conducted by the freelancing website Upwork, the freelance workforce in the U.S. alone grew to 55 million people in

2016 (up from 53 million in 2014). And the same study found that 66% of freelancers had an increased amount of work in the last year.

An In-Demand Freelance Skill

The most in-demand role, without the need for any special skills or qualifications, is writing online content, such as blog posts, articles, and e-letters. As the internet has grown, there’s an increasing pressure on websites to churn out fresh copy. And you can earn a living writing about your hobbies and interests for them. According to Upwork’s 2015 index of the most in-demand freelance skills, content writing is number four (and the only skill in the top 10 that doesn’t require any special training or knowledge).

As you’ve probably already guessed, the boom in freelance work is due in large part to the growth of the internet, which has made it easier than ever to connect with prospective clients. To get started, you can try contacting websites directly to offer your services or use one of the freelancing mega sites to find job postings from clients all over the world.

I’ve had quite a bit of success contacting clients directly. If this is the route you choose, you should spend some time reviewing your potential client’s website. Familiarize yourself with the articles they run and email the editor with five or more simple one- or two-line pitches for stories.

Keep your emails short and polite—editors will appreciate this, and it will increase the likelihood that they’ll contact you for work. You should try some of your favorite websites first as you’ll be more familiar with the type of stories they run.

In addition to Upwork and Fiverr, two of the freelance industry’s behemoths, there are a number of websites where you can find consistent freelance work. Here are the top three:

Flexjobs has been around since 2007. The company prescreens businesses offering jobs to make sure they are legitimate. They also provide a satisfaction guarantee. Although Flexjobs charges $14.95 a month per subscription for access to all of their job postings, they do not charge commissions on jobs awarded. They offer free skill tests for members. Flexjobs currently has over 32,846 jobs available.

Founded in 1998, Guru is one of the oldest job sites for freelancers. Guru currently charges a per job fee between $4.95 to $8.95. Different tiers of memberships allow you different benefits, like being able to bid on more jobs per month. Guru currently has over 3,585,480 jobs available.

Freelancer is based in Australia and has over 10,398,000 freelance jobs available all over the world. It’s free to sign up. When you are awarded a job, Freelancer takes 10% as its fee.

Three of the Top Freelance Job Sites

The freedom of my freelance job allows me to take time off without permission from a boss. —Nanette Witmer

However, the easiest way to get started as a freelancer and find constant, high-paid work is to set up a profile on one of the freelancing mega sites. Upwork is the most well-known freelancing site. Upwork has by far the most jobs on offer at one time…but it also has the most users. You’ll be “bidding” against other freelancers for jobs, and the competition can make it challenging—especially when you’re starting out.

To get your foot in the door, you should start by bidding low for easy, short-term contracts. Receiving positive reviews and building up your star rating will give you access to better jobs and better pay. That being said, there are many other alternative avenues you can take. And many freelancers maintain profiles on a number of sites to keep the cash rolling in (see sidebar).

Think Outside the BoxOne way to beat out the competition is

to think outside the box and look beyond the usual freelance job boards. Fiverr is one such website you can use to snap up freelance work…if you know how.

It’s an online marketplace where folks sell a whole range of services, ranging from guitar lessons to voice-over work to math lessons. But it can also be used to bolster your freelance business.

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FREELANCING

Fiverr is a different type of platform than the regular freelance job boards. Rather than bidding on specific jobs, you, the seller, offer a specific service that other people or businesses need. Buyers come to Fiverr searching for freelancers who will do specific jobs for them. Setting up your business on Fiverr is free, but the site takes a small commission on each “gig.”

Originally, Fiverr was created to allow users to pay small amounts of money for simple jobs. Although their original business model has shaped the unique way that you use the site, its scope has changed over time. The base pay for a simple “gig” is still just $5. This can be something as simple as writing a small paragraph of text.

requires you to have 50 individual orders completed within two consecutive months and a 4.5-star rating or above. You must also continue to maintain a low cancellation rate.

To be a Top Rated Seller you must maintain a high star rating (4.7 to 5), have exceptional customer care, and maintain a low cancellation rate. In addition, you should engage with the community and have a consistent volume of sales.

As you progress through the levels, you get added extra benefits. You can provide more “gigs” for buyers. You can add upsells and charge more for your custom offers as you progress through the different stages.

Your public profile on Fiverr is extremely important to set you up for success.

A potential employer quickly scans your profile in seconds to see if you are the right fit for the job they are offering. You need to establish a crisp, sharp biography emphasizing your energy and willingness to get the job done right and on time. You should get a professional photo done to set yourself apart from the rest of the freelancers—or even make a short video explaining what your “gig” is. The video should be from 30 seconds to a minute in length.

In addition, make sure you add the proper keywords to your profile so that buyers searching Fiverr for what you are providing are more likely to find you. (For example, a content writer would use these keywords: blog, article, SEO writing, content writing, writer.)

To get good ratings, and increase your level, it’s important that you present yourself as a professional. Make sure all correspondence to the buyer and work are done on time—and that each job is done well. Don’t take on more than you can actually do. Finishing one job well and getting great feedback is far better at the beginning than doing several jobs poorly.

You can encourage your clients to give you good feedback starting at the beginning of your relationship. Always try to give more than what the customer asked for. Do something extra they will appreciate. When the job is finished, send them an email to confirm that they are completely satisfied with the job you have done and ask if there

are any changes that need to be made. If there are, fix them in a timely manner and at no extra charge. When the job is complete and they are happy, thank them for choosing you and be gracious.

If you consistently do these things, most customers will be more than happy to give you good feedback. Many businesses get all their work done by Fiverr sellers. So, establishing a good ongoing relationship with a buyer might just turn into a full-time opportunity. Having said that, many Fiverr users make a full-time living from just working on Fiverr.

You can set up payments for your services to be sent to PayPal, a prepaid MasterCard, direct deposit, or a bank transfer. Each payment method does have a processing fee. Your rating level determines when payments are made available to you. When a gig has been marked as completed for a level one or two you must wait an additional 14 days until the money is paid into your account. When you’ve become a Top Rated Seller, your wait is only seven days.

Freelancing, and sites like Upwork and Fiverr, have changed my life in so many ways. I write about topics I enjoy, which makes it a lot of fun. I don’t consider freelancing work because I’m doing something I love without a boss. I only work as much as I need to earn what I want for the month. If I want to take a trip, I just take on a few more projects.

The freedom this lifestyle has given me has enhanced my life as an expat. I do what I want during the day and fit freelancing in when I have time. The great part of freelancing as an expat is that I can take this career with me wherever I go, and there are no age restrictions on how long I can work. Life simply does not get better than this.

The most in-demand role, without the need for any special skills or qualifications, is writing online content. —Nanette Witmer

But by adding “extras” to a service—such as a quick turnaround, extra words, revisions, research required, etc.—you can quickly turn your gigs into real money-spinners. And, recently, Fiverr added a “custom offers” feature, which allows you to create customized bundles and charge significantly more them. It’s up to $325 for brand-new sellers, $1,500 after you have a few jobs under your belt, and even more on higher levels.

Get The Best JobsTo get the best jobs on Fiverr and

charge what you want, you’ll have to show that you can get the jobs done and maintain a positive rating from your clients. Top Rated Seller is your ultimate goal since you can charge what you like, and you’ll appear first when potential buyers do searches. Until you reach the level of Top Rated Seller, you are restricted as to how much you can sell your service for. But you can still make good money with your customer offers on “level one.”

Level one is obtained when you have 30 days active on Fiverr and 10 gigs sold with a positive rating. You should also maintain a low cancellation rate. Level two

Nanette Witmer’s flexible freelance income allows her to enjoy a low-stress lifestyle in Panama’s verdant Chiriquí Province.

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TRENDING OPPORTUNITIES

High Demand, No Competition: Secondhand Retail in Latin America

Continued from page 1

One particular type of secondhand store offers considerable benefits for a business owner: the consignment store. These are often small mom-and-pop-style boutiques that sell other people’s merchandise for a cut of the sale price. Owners retain ownership of the product until sold, and no money is exchanged until after the goods are sold. So you’ll never have to drop any cash up front on your inventory.

Fifty-seven-year-old Cyndi Ader spotted a gap in the market for this type of store in the Mexico coastal resort town of Playa del Carmen. About an hour south of Cancún’s International Airport on the sun-drenched Riviera Maya, Playa (as the locals call it) is home to breathtaking Caribbean beaches and an upscale, hipster-chic vibe that attracts investors and vacationers from across the globe. Playa is the fastest growing city in Mexico and shows no sign of slowing.

“I was raised by a Depression-era mother who was always very frugal. We grew up going to thrift shops, garage sales, and flea markets. And we had many of our own garage sales,” says Cyndi. “So, I guess this secondhand lifestyle is in my blood. Everyone appreciates getting a bargain.

“Compared to any other business, a consignment store has low startup costs and virtually no problems with inventory management. I put zero cash into my inventory, which means that all my cash is doing other things rather than sitting on the floor of my store collecting dust. And yet, my store remains full of the merchandise that I select.

“I retain 60% of the sale price, and the owner keeps 40%. I never stress about the money tied up in inventory or wonder what happened to a shipment of goods that is delayed like the owners of many businesses.”

Cyndi says her business, the Segunda Vida (Second Life) Consignment Store, is unique in downtown Playa.

“I really don’t have any serious competition. At least none that are comparable,” says Cyndi. “There are a few secondhand shops that will take a few items on consignment, but they mostly handle home appliances and furniture and maybe have a few odd pieces of clothing and accessories. I specialize in clothing items, and it’s been working well for me for years now.”

When Cyndi first moved to Mexico, she longed for the secondhand stores and flea markets that she loved back home. But they were nowhere to be found in Playa del Carmen.

Cyndi Ader—pictured outside her secondhand consignment boutique— faces little competition in the trendy beach town of Playa Del Carmen.

Compared to any other business, a consignment store has low startup costs and virtually no problems with inventory management. —Cyndi Ader

“I often say that everyone loves a bargain, especially on good-quality clothing,” says Cyndi. “And with no source for such things in Playa, I saw the business potential. So after the recession, I decided to reinvent myself and follow my long-time passion for all things secondhand. I saw a huge gap in the market and couldn’t imagine why it wouldn’t work.

“I figured that most of my customers would be locals, and I began to observe the types of clothing they were wearing every day. This isn’t the sort of business that typically attracts tourists, so I wanted the shop to be somewhere the locals can drop off their good quality clothing items that have been outgrown or are no longer worn.”

Cyndi says that the majority of her customers are local women, and they come from all economic classes. She says in Playa women do most of the shopping and handle the household budget, so she built her business to cater to women and their clothing.

“I might occasionally take in a small kitchen item or a small decorative item, but we stick mostly to good-quality women’s clothing. My customers—both those who

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TRENDING OPPORTUNITIES

consign their merchandise and those who buy from me—range from stay-at-home moms with a smaller budget to professional women such as doctors, lawyers, and business owners. Because of that, it’s important to have a good selection of quality merchandise in all price ranges.”

Segunda Vida opened in 2010 and has been doing good business ever since. “I live a comfortable life from my business earnings. And while I may not get rich, I absolutely love what I’m doing, and I now have full control over my schedule. I enjoy good restaurants, travel when I wish, and I have a nice house.”

Cyndi rents a storefront of about 500 square feet for less than $350 monthly. Clothing items don’t take up much space and with some inexpensive racks and wall mounting, a small space such as Cyndi’s can be fitted to accommodate large amounts of stock. Although the rent is low, Cyndi’s business is located in a prime spot in downtown Playa.

“Our location is close to the tourist area but not directly in it, which means the rent is not as high. But we still get some walk-by tourist customers,” says Cyndi. “Mostly we have lots of locals who are working in

this tourist area and have more income to spend.”

Finding a great location is important, but you can’t succeed in this business without the goods to back it up. Cyndi advises that carefully considering what you take on consignment is an important part of the process—especially when you’re working with limited space.

“I’m very particular about what we accept. It has to be in great condition and fashionable. It takes a little time to know what sells and what won’t sell and how to price your stock,” says Cyndi. “But quality items in good condition always sell, as long as the price is reasonable. We go through a lot of merchandise. All the clothing we accept must be clean and neatly folded. We look it over for obvious rips, stains, and damage before we accept anything.

“I have three salespersons working in the store, and they all work on commission. It’s up to me to be sure the items we accept are readily saleable and priced so my employees can earn a fair wage each week.”

Cyndi says her patrons are 95% locals and 5% tourists, with a large percentage of repeat customers.

“Honestly, I don’t do much advertising at all. My customers all share their experiences with their friends and word-of-mouth is the best advertising there is,” she says. “I used to buy some ads in small local publications but couldn’t see the benefit. I mostly maintain our Facebook page, letting everyone know about any new arrivals or our work with rescued animals. I like posting pictures, and I think that’s the most effective way of communicating in this business.”

Central American countries are largely unfamiliar with consignment stores and are only just now starting to pick up on the trend. There are some locally-owned secondhand stores, but expats on the ground report that the quality of the items on offer is generally poor.

In Panama, only Panamanian nationals are authorized to sell retail. Until recently, resales were lumped in the same category. However, authorities have agreed to a separate classification for consignment sales, opening this growing and promising industry up to foreigners.

“New consignment posts tout everything from furniture, art, and clothing,” says International Living Panama Editor Jessica Ramesch. “Interest is high and there are still niches to fill in Panama City and upcoming destinations like David, Boquete, and Coronado.”

Expat Rosalind Baitel owns a high-end consignment boutique, Promises, in Panama City. “In my opinion, all of Latin America is ripe for the expansion of the whole resale and consignment culture,” she says. “It has the perfect combination of ingredients: many social circles that do not always mix, fashion, brand and cost-conscious culture, boom in social media and economic growth, and emerging middle classes with increased buying power.”

In Costa Rica, there are not many bricks-and-mortar resale businesses. But the existing ones are doing a good business, and many individuals are involved in reselling on a much smaller scale. International Living Roving Latin America Editor Jason Holland says expats and locals are active in buying and selling used smartphones, computers, furniture, baby clothes, power tools, clothing, and other items online in forums and Facebook groups. The many buy-and-sell Facebook groups in Costa Rica serve as an indicator for demand in the market.

“I think that a store that offered a centralized place in a community to sell these items would work well,” he says. “When we were living on Costa Rica’s northern Pacific coast, there was a consignment store I frequented doing pretty well about 30 minutes’ drive from my home.”

Destinations That Need Consignment Stores

I don’t do much advertising at all. My customers all share their experiences with their friends and word-of-mouth is the best advertising there is. —Cyndi Ader

Cyndi recommends using professional assistance to file the initial documents when starting a consignment business overseas.

“I used a local business accountant to assist with filing the initial forms and permit applications. Most of the permits require renewal and annual fees each year, and I handle that myself,” she says. “I think I spent about $5,000 on startup expenses and much of that was for licensing and permitting, as well as attorney fees.”

With three employees she trusts to run the business, Cyndi enjoys a flexible work schedule and a comfortable work-life balance. “My primary job these days is to maintain our relationships with our regular customers and consignors,” says Cyndi. “The employees do a great job of maintaining the inventory and assisting the customers.

“I can spend time with my dog, go to the gym or the beach, catch up on reading, or just relax with my boyfriend. We spend quiet evenings relaxing together, and I now have the time to enjoy cooking at home. Everyone told me that this business wouldn’t work here. I’m so glad I didn’t listen.”

International Living’s Incomes Abroad | January 201714

SETUP SOLUTIONS

Spain’s Easy-to-Get Self-Employment Visa

By Anna Lebedeva

Sipping wine on a moonlit balcony overlooking a charming medieval square…taking long lunches and feasting

on fresh seafood paella with friends at an ocean-front restaurant…daily naps… If you, like many others, dream of moving to Europe and enjoying a little Old World romance, then getting a Spanish self-employment visa could be your best option.

In recent years, the Spanish government has made some significant changes to the visa process to attract foreign businesses to the country. Getting a self-employment visa is now a more straightforward process, especially when compared to other European countries. Once you have all the required documents in order—which can take a few weeks—Spanish consulates promise to process your application within 10 days and rarely exceed that time frame.

With the self-employment visa, you can work as a freelancer or set up your own business. In addition, you’ll be entitled to free healthcare through the Spanish state healthcare system. And, after eight years of self-employment, you can apply for permanent residency in the country.

Shaheen Samavati moved from Ohio to Madrid in 2010 to do an International MBA and, after finishing the program, stayed on working as a copywriter and translator. In her spare time, she and her friends maintain a website dedicated to information on work permits and residence issues in Spain. She

says getting a Spanish self-employment visa is not difficult, but it can be confusing. “I made some mistakes at the start. I originally set myself up as a company, which was unnecessary and costly, instead of going as a freelancer. Now I know the process quite well and help others to become registered freelancers.”

Shaheen is quick to point out the advantages of running a business or freelancing. “Office and house rents are low here and the cost of living affordable. You can also find talented employees for less money as salaries tend to be lower in Spain.” And if you decide to stay, it’s easy enough for self-employed expats to get permanent residence. “When you initially get a visa, it lasts for a year, then you renew it for two years, after that five years. And then you can apply for permanent residence if you want.”

The first step in obtaining a self-employment visa is making an appointment at your nearest Spanish consulate and submitting a standard set of documents to the nearest consulate for an entry visa. The full list can be found here.

In addition to usual visa documents, you’ll also need to submit a business plan, show that you have enough start-up capital to get your business off the ground, and give proof of your professional qualifications.

You might find the idea of submitting a business plan intimidating, but the Spanish government provides a basic template to help you. Shaheen says that it’s not as complicated as it may seem. “You can write the plan in English and get it translated into Spanish or go to a law firm that will help to prepare all the documents.”

The business plan approval in the Spanish Economic and Commercial Office (Secretaría de Estado de Comercio) takes up to three weeks. You can mail your plan while you’re still in the U.S. but requirements vary slightly in depending on the consulate. You should enquire at your local consulate before submitting the plan as they can direct you to the right commercial office.

And, when you receive the go ahead, you can submit the documents for an entry visa. Once you are in Spain, you have a month to get a foreigner’s identity number (NIE) and

register your business with the tax authority and social security system. Many expats choose to hire a business manager, or gestor, to help with the paperwork. Fees for this service can vary from $500 to $1,000.

As you are going to bank on your professional skills, you will also have to show proof of your qualifications. “You have to show you have the skills required for the business that you plan to start. Having pre-contracts, even one, signed by clients really helps,” says Shaheen. “A lot of people are already freelancing in their own countries, so all you need is to get those clients to sign a contract. There is not much obligation on their side because it is a freelance contract, which can be terminated by either party at any moment.”

You can qualify for the self-employment visa with many types of businesses but cashing in on your English-language skills is one of the easiest options. “If you’re a native English speaker, you are in a favorable situation. It’s the Spanish government’s policy to do everything to improve English in the country,” explains Shaheen. “I have met many expats who have been successfully approved with translation and English teaching businesses.”

Shaheen says that these are the most popular sectors for self-employed expats in Spain. She also knows a few success stories of expats setting up restaurants. “Some expats bring business models from America, which the Spanish love. For instance, I know there is a burrito place that was set up and run by expats.”

The next step is demonstrating that you have sufficient funds. The amount of money that you need to have in your bank account varies, as you have to match your business idea. When Shaheen applied for her self-employment visa, her lawyers advised her to have about $9,000 in her account. But she says that applying for a visa as a freelancer rather than as a company owner requires less money.

“I know many people coming from the U.S. who have simple business plans for working from home, teaching English and doing translations. And they only needed between $1,000 and $5,000. I know a translator who has just been approved for a self-employment visa, and she said that she only needed $1,300 to start her business as a freelancer offering translation services,” says Shaheen. “Of course, if you are going to run a restaurant or another capital intensive business, you have to show you have that amount of money in your bank account.”

The Spanish government’s Auxiliares de Conversación Visa program allows native English speakers to move to Spain and work as Language and Culture Assistants in public schools. You don’t need a TEFL certificate or any formal language training to apply for the program. As an assistant, you will work only 12 to 16 hours per week and get paid about $800 to $1,120 per month. There is no age limit, and you can keep renewing the program visa. As a language assistant, you will have a student visa and can extend it as many times as you wish. After three years, you can apply for a self-employment visa.

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SECTION HEAD

Bakery for Sale in a Mexican Beach Town If you love to bake and dream of living in a Mexican beach town, then

you may be interested in this opportunity spotted on the ground by our Roving Latin America Editor Jason Holland. There’s a small bakery for sale in the thriving Mexican resort destination of Puerto Vallarta.

Puerto Vallarta is walkable. And the bakery’s location, blocks from the malecon that lines the Pacific coastline, puts you in the heart of the action. The warm weather year-round, relaxed beach lifestyle, and low cost of living, including low housing costs, make it an ideal place to live. In fact, in 2015 it was named the world’s friendliest city by Travel and Leisure magazine.

Currently, the bakery offers up specialty breads (like sourdough, multigrain, and rye), as well as muffins, pretzel rolls, cookies, cakes, biscotti, and other items not found in typical Mexican bakeries. The menu could be expanded to include more breakfast and lunch foods to make it more of a sit-down café. Or you could add coffees. It has favorable reviews on TripAdvisor, as well as a four-and-a-half star rating. Aside from walk-in traffic, the bakery is also contracted to provide baked goods to local restaurants, which is an income stream that you could pursue also.

The price is $80,000, which includes the furniture, fixtures, and inventory. And the seller will also provide recipes and training for one month. The bakery’s expat owner is selling because they have to return home due to a family emergency. Details here.

Own a Tourism-Driven Magazine in a Cambodian Party Town

With long stretches of pristine, white-sand beach and sun-drenched tropical islands just offshore, the laidback Cambodian party town of Sihanoukville has natural beauty in spades. But it’s the town’s buzzing nightlife, vibrant social scene, and a host of activities on and off the water that has made it Cambodia’s number one beach town.

At the moment, there’s an ad-funded publication for tourists for sale that provides useful information about everything Sihanoukville, and a number of other coastal locations, have to offer.

The magazine is published every quarter and is available at expat and tourist locations across southern Cambodia. Content, written by a team of writers, focuses on the top tourist towns of Sihanoukville, Kep, and Kampot. Since a lot of the content remains the same in every issue, the number of new articles required for each issue is minimal. The owner will provide contacts for the writers, who are a mix of freelancers and volunteer contributors.

According to the owner, the business earns about $15,000 annually, and the time commitments are minimal. The owner will run you through the ins and outs of the business—everything from the advertising deals and contract details, arrangements with the printing house, and methods of distribution. Your role as the new owner of the business would be to manage and follow the established format of producing the publication by updating the existing template with new content as well as adding in new or renewed advertisements.

Purchase price is $30,000. For more information about the business operations and financials, contact the owner by email at info@coastal-cambodia.com or via phone on +855 16 562 775.

Earn Extra Cash Throwing Dinner Parties in Your Spare Time

In a time where people are growing increasingly comfortable stepping outside of traditional business models—favoring more personal services like Airbnb and Uber over hotels and taxis—supper clubs are thriving. If you’re passionate about food and enjoy throwing dinner parties, a supper club is a fun and low-stress way to earn some extra cash.

The concept is simple: The supper club takes the basic idea of a dinner party and flips it on its head. Instead of inviting your friends and picking up the tab for their meal, you invite folks from your community and charge a nominal fee. Done right, it can earn you a significant profit. And you can make it work anywhere in the world. You could cater to expats longing for tastes of home or offer a variety of home-cooked classics from all around the world.

To get diners onboard, all you need is a simple menu, accompanied by an explanation of what your supper club is and an email address for them to RSVP. To create a sense of urgency, tell them only the first 12 guests (or whatever number you’re comfortable with) to respond will get a place. And, of course, your menu will come with a suggested “donation” per person. Remember, you’re not a licensed restaurant, so be careful not to put a price or cost.

Depending on what kind of food you serve and how many courses you prepare, your event can be as informal or formal as you like. Happy to serve some good old fashioned burgers, fries, and key lime pie? Ten dollars per head won’t seem a stretch for your guests. But if you can whip together a five-course tasting menu using foraged ingredients, freshly-caught seafood, and good-quality wine, don’t be afraid to ask for recommended donation of $60 per head. With 10 guests, $600 should cover your costs and leave you with a few hundred dollars of pure profit.

Spotted on

the Ground

Set upon the sandy shores of crescent-shaped

Banderas Bay, Puerto Vallarta is one of the

world’s most enchanting destinations for

tourists and expats alike.

©IL

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