Hi all.
I have visited to SXM twice and after I come home I often think about starting up a "niche" business that someone else hasn't tried.
I understand that it's a tough go if you don’t have Dutch or French heritage, but does that still matter if your business provides employment for locals?
I wont divulge the nature of my proposed business just yet, but it would cater to wealthy clientele who have residences on the island. If it catches on, shipping an SXM made product throughout the Caribbean may be possible.
I just want to get some input at this point.
My question is, approximately how many villa's on the island are worth over
$1.5 million US.
And does the demographic of these people support selling a product worth 60-70k at lets say 50 units per year?

I forgot to mention some info about the product.
This product would hopefully be a "must have" for people that have
extravagant "toys" like custom built speedboats and classic convertible sports cars.

Well its about a week since my post, and no response as yet.
Perhaps this board isn't the right place for my question, I just thought a couple of locals might give me insight about the feasability of an idea.
I am not a big businessman, I probably never could even raise the capitol needed to start this business, just a little guy with an idea and a big dream.
Regards
Jim



Edited 2 time(s). Last edit at 01/25/2008 06:56PM by jimbo.

I think you should contact the chamber of commerce and ask them about business possibilities on the island.
[www.sintmaartenchamber.org]

I know the process of obtaining a business license and a work/residency permit is a long cumbersome process.
Out notaries here also help people set up businesses.
Contact Schaepman /Speetjens maybe.
[www.notaryschaepman.com]



Edited 1 time(s). Last edit at 01/25/2008 07:00PM by Barbara1.

please can you email me all the information you have on the house thanks in advance

Barbara1 Wrote:
-------------------------------------------------------
> I think you should contact the chamber of commerce
> and ask them about business possibilities on the
> island.
>
>
> I know the process of obtaining a business license
> and a work/residency permit is a long cumbersome
> process.
> Out notaries here also help people set up
> businesses.
> Contact Schaepman /Speetjens maybe.
>

So Barbara...how does it work for those who want to emigrate and don't need a job or need to start a business, and want a residency permit? Do you have to prove your financial independence to the government in some way? Or if you get the permit, relocate, and then decide that a little island business might be a fun way to pass the time?

Alan: From what I know,seeking a residency permit on SXM is like entering the Twilight zone of bureaucratic Catch 22 hell.One finds it impossible to hire a "local"who can lubricate the process.I hpe my meaning is clear.

Alan, you apply for residency permit under "retirement status". You have to show proof of sufficients income, proof of medical insurance, all type of official documents that must be appostilled. After that if you obtain your permit and relocate, and then decide to start a business you have two solutions:
The first one is to own the business, don't work in it at all, just collect the profits (if there are any) on your bank account, and then maintain your retirement status (But you have to remember that you are not allowed to work in your own business - if they caught you working you will be deported no matter if you have a residency permit which is not valid if you work, because it is "retirement status")...
The second is to apply for work permit and relinquish your retirement status, which mean start the processs all over again (without any garranty you will be approved...).
That's the "residency permit roulette"

Kind Regards,
Philippe



[www.facebook.com]

Tabba Khady Wrote:
-------------------------------------------------------
> Alan, you apply for residency permit under
> "retirement status". You have to show proof of
> sufficients income, proof of medical insurance,
> all type of official documents that must be
> appostilled. After that if you obtain your permit
> and relocate, and then decide to start a business
> you have two solutions:
> The first one is to own the business, don't work
> in it at all, just collect the profits (if there
> are any) on your bank account, and then maintain
> your retirement status (But you have to remember
> that you are not allowed to work in your own
> business - if they caught you working you will be
> deported no matter if you have a residency permit
> which is not valid if you work, because it is
> "retirement status")...
> The second is to apply for work permit and
> relinquish your retirement status, which mean
> start the processs all over again (without any
> garranty you will be approved...).
> That's the "residency permit roulette"


Interesting...thanks. I'm assuming that a retiree can have an online business where you might "work" but at your computer, as its not really a "St. Martin" business. Ya gotta prove you have the money though...which is interesting.

A few years ago I saw a profile on a young woman opera star (can't remember her name though) who was successful and wealthy enough to have bought one of those big villas up on the hill between Cupecoy and Terres Basses. I believe she spent something like 4 months a year on the island, and still does. So I'm sure there's a way for anybody with enough money to make it work for them, if they have the money, the time and want to do the legwork.

Thanks again.

Here is the official take on directing a local company as a foreign national...

[www.governorsxm.com]

If you are not interested in working, my understanding is that it takes (among other things) proof of being able to support yourself for at least 6 months, proof of health insurance, and a whole lot of patience. It may be false information, but I have also been told that one must remain off the island while the temporary residency permit application is active. A permanent residency permit is for those who can prove legal residency on the island for at least 10 years.