It’s no secret that foreigners have been thinking a lot about building startup in Bali. In fact, more foreigners are interested in the idea of not only investing their money in the island, but they can actually start their own business there. Of course, it won’t be an easy feat. After all, you are a foreigner and you need to have the legal documents that give you right to set up your shop and start running. But then again, where should you start?
Legal Documentation for Startup in Bali
As mentioned before, you need to have the legal paperwork. It’s not only the visa, but you may need investor permit to start a business there. In short, you don’t want to have an illegal business where you can skip the documents and start your thing. There have been many cases where foreigners have been deported back to their country and been banned from entering Indonesia, especially Bali. You don’t want such a thing to happen to you.
Reasons to Build a Startup (in Bali)
Why Bali, anyway? Why not having your own startup elsewhere? First of all, you have to admit that Bali is naturally gorgeous. The nature is strikingly beautiful. You have the sea, and yet, you also have the mountains. Bali is the mix of traditional and cultural richness with modern lives. Want to live in the crowded city? You can do it. Do you prefer the peaceful remote spots? You can also find it.
Moreover, the living cost is relatively low. A lot of people don’t really need to have a lot of money to start having a business in this island. You can have a very well lifestyle with less than $1000 in the island.
Of course, there are still other reasons why people are interested in starting up a business in Bali.
- You can have flexible work arrangements. You can actually work from home, which gives you tons of freedom and versatility to manage your business as you see it fit.
- The low stress and laid back atmosphere is great to give you positive work-life balance. You won’t have to spend your time 24/7 working, but you can also enjoy life. You can socialize, have a hobby, and simply do the things you love to do.
- The legal process can be tedious and complicated, but not when you get the right assistance. In fact, when you know the right service to help you with your working permit or business license, you simply enjoy the fruitful outcome.
- Not only Bali has the perfect human resources, but they don’t cost you a fortune either. Affordable human resource is one of the key factor of a successful business, especially for startups.
What Does It Take?
Naturally, you need more than money to start your own business in this land of paradise. First of all, you want to make sure that you have covered the legalities. It would be such a shame (and a bummer too) if have run the business in such a successful manner only being stumbled by formalities and legalities. Make sure that you cover everything thoroughly and never take a shortcut.
Don’t forget that you also need to be ready with banking account as well as a type of personal identity document. You will need them to cover your business basics. It would be helpful if you understand technology, especially the internet. We live in the digital era. Everything is possible through internet, devices, and stuff, but it will only work if you know how to utilize them properly.
Read more article 2 Simple Tips You Need on How to Start a Business in Bali
The Growing Market
What kind of business can you start in Bali? These are some examples of the things that are hugely popular in the island.
- Tourism. If you have a property in Bali, you can consider about renting it out. The growing trend (at least for foreigners) is to buy a villa and then make it available for rent.
- Fashion. If you are into garment or fashion, Bali would be a perfect place to start your business up.
- Food and beverage. Everyone eats, right? If you have special recipes from your home country or if you love cooking so much, why not share it with the world? Everyone enjoys good food and also pleasant company.
- Art and handcraft. Some foreigners invest their money in the local art and handcraft making.
Bali can be a promising land of opportunities, especially if you have keen eyes to build your own brand. But then again, you need to have the proper legal documents before you can even start. If you want a reliable help from a trusted service, you can always contact E-Visa through their website E-Visa Bali. Building your own startup in Bali can be hugely profitable, but only if you do it right.