Hello,I have been doing my due diligence and everything looks ok except for one thing... So let me explain it.I want to build my own house. I am an engineer and have been building houses on my own in other countries.
Well yeah I know some work needs to be contracted out. BTW this handling of the project by a professional in the area is golden. I have built houses in different countries and I learned the hard way. The problem is not that I can't build a decent house. But the red tape and local laws are absolutely insane... And it does not matter the country!!!! That is the surprising fact.
Here is how it was explained to me.I open a company and register it as a builder company with a small shareholder amount. This company will have all of its paperwork and so on up to date. Then what I do is declare myself as the main shareholder and constructor. I show I paid all of the monies and I am good to go.Overall the way it was explained to me is that yes it is quite a bit of paperwork, but it is possible. Additionally it was explained to me, and it appears hinted to in your answer, the main reason why this approach was taken is to ensure taxes and contributions are paid.
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Well yeah I know some work needs to be contracted out. BTW this handling of the project by a professional in the area is golden. I have built houses in different countries and I learned the hard way. The problem is not that I can't build a decent house. But the red tape and local laws are absolutely insane... And it does not matter the country!!!! That is the surprising fact.
Here is how it was explained to me.I open a company and register it as a builder company with a small shareholder amount. This company will have all of its paperwork and so on up to date. Then what I do is declare myself as the main shareholder and constructor. I show I paid all of the monies and I am good to go.Overall the way it was explained to me is that yes it is quite a bit of paperwork, but it is possible. Additionally it was explained to me, and it appears hinted to in your answer, the main reason why this approach was taken is to ensure taxes and contributions are paid.
ok so what you are saying is that I need a builder company and I am good to go? BTW I am by degree an engineer.