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Mashimaro
Joined: 31 Jan 2003
Location: location, location
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 Posted: Fri Mar 25, 2005 5:47 pm Post subject: What is wrong with this idea? |
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If I wanted to work in a non teaching job what are the pitfalls in this idea.
- Have a korean friend start a business (register business name etc.)
I would obviously pay for this.
- My friend would employ me and sponsor my work visa (I would pay for any costs incurred)
I'm 99% sure it would not be so simple, but why not? |
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peppermint
Joined: 13 May 2003
Location: traversing the minefields of caddishness.
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| Posted: Fri Mar 25, 2005 5:55 pm Post subject: |
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| Where's the part where you earn money as opposed to paying out? What exactly would you be doing? |
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desultude
Joined: 15 Jan 2003
Location: Dangling my toes in the Persian Gulf
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| Posted: Fri Mar 25, 2005 5:57 pm Post subject: |
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| Since your friend would have complete legal control of your business' finances, you had better damned well trust him. I had a "good friend" I had know for years steal a business from me. It hurts like bloody hell, both financially and emotionally. |
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shakuhachi
Joined: 08 Feb 2003
Location: Sydney
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| Posted: Sat Mar 26, 2005 12:27 am Post subject: Re: What is wrong with this idea? |
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| Mashimaro wrote: |
If I wanted to work in a non teaching job what are the pitfalls in this idea.
- Have a korean friend start a business (register business name etc.)
I would obviously pay for this.
- My friend would employ me and sponsor my work visa (I would pay for any costs incurred)
I'm 99% sure it would not be so simple, but why not? |
I will offer you some friendly advice. Do not do this. Here is why.
- If your friend owns the business on paper, then it is his in real life. Even if your friend is a totally honest person, the business will count as his property and could be taken away if he is unable to pay his debts. Having this kind of trust in a person is hard even when you are married to that person. What will happen if your relationship to that person goes south?
- not any business can just sponsor a work visa. A business has to has a certain amount of revenue and will have to show why it is hiring you, a foreigner, rather than one of the many unemployed Koreans. I think this would be very, very difficult (unless you have a lot more money than I think you do, in which case you wouldnt be asking this question).
I dont really know what you can do... Maybe a longtimer operating his/her own business can offer you some advice on how to set up a business in your name. |
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chronicpride
Joined: 16 Jan 2003
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| Posted: Sat Mar 26, 2005 5:15 am Post subject: Re: What is wrong with this idea? |
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| Mashimaro wrote: |
If I wanted to work in a non teaching job what are the pitfalls in this idea.
- Have a korean friend start a business (register business name etc.)
I would obviously pay for this.
- My friend would employ me and sponsor my work visa (I would pay for any costs incurred)
I'm 99% sure it would not be so simple, but why not? |
The only pitfall would be that the position you are filling must be something that a qualified Korean could not readily fill. You'd have to come up with some really creative thinking about what your actual position would be. Then, you are left to the crapshoot mercy of which immigration officer you sit down in front of with your documents. |
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Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
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| Posted: Sat Mar 26, 2005 6:58 am Post subject: |
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There is also the problem of taxes. If the business is in your friend's name, he will have to pay the taxes. The (massive  ) profits from your business might push him into a new tax bracket. |
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animalbirdfish
Joined: 04 Feb 2004
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| Posted: Sat Mar 26, 2005 4:12 pm Post subject: Re: What is wrong with this idea? |
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| chronicpride wrote: |
| ...the position you are filling must be something that a qualified Korean could not readily fill... |
How about "Official White Person?" Hagwons do it all the time. |
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Manner of Speaking
Joined: 09 Jan 2003
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| Posted: Sun Mar 27, 2005 3:13 am Post subject: |
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| desultude wrote: |
| Since your friend would have complete legal control of your business' finances, you had better damned well trust him. I had a "good friend" I had know for years steal a business from me. It hurts like bloody hell, both financially and emotionally. |
If you don't mind me asking, or mind talking about it, what sort of business was it?  |
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