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No OSHA, very limited involvement with things like Workman’s Comp., Liability Insurance, Employees Medical Insurance, Fire Insurance, Fire Marshal inspections, City Ordinances, Zoning, City Council, State Taxes, Federal Taxes, County Taxes, Tax Taxes and on and on. Even here, you have to go through the process of forming a company, getting a tax number, business permit, lease, etc. For example, if you wanted to open a bar you would need all the above plus a liquor license. Some businesses such as taxis must have liability insurance in case someone is accidentally injured. Most businesses don’t need this. The basic steps to starting a business are: 1. Lawyer
for Corporation papers, lease or purchase papers, etc.
Set-up prices vary with business type and complexity. (a work-at-home internet business would be simple, a tour bus more complicated.) The simplest business is a service business. You might be able to create a job booking clients for existing tourist businesses here. There are lots of hotels, jeep tours, fishing/diving/sailing charters looking for more clients, and this could be done over the internet as well. An American friend runs a U.S. company from here via computer and phone. He’s an Executive Recruiter “a.k.a. a Headhunter” and is always looking for recruiters. The recruiters can make excellent money. If you’re interested in checking out this job option write to: margaritajobopportunity@yahoo.com and I’ll put you in touch with him. I’ve met other ‘expats’ on the island who own businesses that they created themselves. One buys and renovates apartments that need “TLC”. He started with one he bought for $14,000. He spent a few thousand for paint, appliances, tile, and sold it a nice profit, set back a portion of that money to live on, and invested the rest in another apartment. Makes a nice living and does it at his own pace. Another runs a sail boat rigging business that does well because Margarita Island is a favored destination for cruisers because of the lower prices and absence of hurricanes. Boaters always need something! He buys wholesale in the states, ships it here and sells at retail plus shipping charges. His wife, also an expat, runs a restaurant that caters to cruisers. They’ve been here for over 10 years and love it! They traveled the world on their boat and decided that Margarita Island was the place they wanted to stay. One guy came here 15 years ago, opened a disco. It became very successful and made lots of money. The disco is closed now but he won’t have to work again if he doesn’t want to. A young single European in his 30’s leased a huge house (6 or 8 bedrooms and baths) installed wireless internet in all the rooms and rents the rooms to European friends who come here seeking an alternative to their country or possible investments. He makes enough money to live rent-free and has money to spare for parties. His parties attract the ladies, so his accommodations are very popular with young guys like himself. I jokingly call him “Hef” because of his playboy lifestyle. One expat has a sailboat offering island dinner cruises for $100 per person. Another runs Sportfishing excursions. Another does Jeep Tours. Many foreigners have opened Ethnic restaurants. I could go on, but you should get the picture by now. Many businesses on Margarita have foreign owners or are owned by Latins who are not “Margaritenos”. (as the locals are called) Let’s assume you’re desperate to escape the escalating prices and bureaucracy in the U.S. or elsewhere, but don’t have a lot of money to start. You might consider something as simple as a food cart selling hot dogs, corn dogs, sandwiches, stuffed baked potatoes or something similar...most food stands here just sell Arepas. A stainless steel cart will cost between $200 used and up to $1,000 for a really nice new one. Your permit will be a few dollars, and possibly a couple of hundred for legal work and accounting. Add the cost of stock, location rental (could be flat rate or percentage of sales) and you’re looking at a couple of thousand dollars to set you up to make a living in Paradise! One of the most successful restaurateurs in Mexico started just this way...ever heard of Senor Frogs and Carlos & Charlie’s? If you’re not
into food sales, maybe a spray tanning booth on the beach or an “Olde Time”
photo shop, or a ‘banana boat’...none of these types of businesses are
here, and Margarita Island is a major tourist destination.
The “fields are fertile” and just waiting for someone to plant an idea for goods or services. Anyone can own a business or property here. You do not have to be a resident. However, there are many advantages to having a resident visa. The visa is easier to obtain if you own some sort of business, because naturally the government wants you to hire Venezuelans to work for you, but this is not an iron-clad requirement. To hire a bi-lingual employee, simply run an ad in the local paper and you’ll get dozens of replies. One caveat is the lack of motivated people here. Sometimes it seems like work is a sideline, not a profession. Even native Venezuelans here freely admit that the people are lazy and don’t work hard. I personally find this usually true, but it isn’t difficult to find a hard-working person that wants to get ahead, it’s just a little harder to pick them out. Due to this fact, many foreigners are very successful in business here on the island. When you find business doing well you can attribute its success in large part to providing good service and customer satisfaction. Another item...don’t believe all the bad press you hear about Venezuela in the U.S. media. Most news seems to be ‘sanitized’ and slanted against any country that does not agree with the current American government. President Chavez tells the Bush Administration to keep their noses out of Venezuela and I have to admire him for that. Being a true southerner, I like to quote Robert E. Lee, but General William Tecumseh Sherman said it best... "I hate newspapermen. They come into camp and pick up their camp rumors and print them as facts. I regard them as spies, which, in truth, they are. If I killed them all there would be news from Hell before breakfast.” As for myself, I’ve been here about 2 years. Do I like it? Yes, absolutely. There is very little not to like. I’m making a living here with a small consulting business, a condo rental and a few investments. I don’t work hard - actually don’t really have to, and still make enough to live quite well. There is no way I could survive in the U.S. by working a little and enjoying life a lot. For more information about living and working on a Caribbean island at a pace that won’t kill you before your time, check out my website www.retirecaribbean.com To contact Scott Click Here The following is the first article Scott wrote for the magazine:
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