Need business advice

bpeh Member

Member since 15 December 2019

bpehMember15 December 2019 23:12:40

Hi,

I have a maid from sri lanka who worked with us for 30 years in singapore. She is like a family to us and would like to retire back home. However, she is an orphan and will have no place to stay if she goes back. We are thinking of continuing to employ her when she goes back by buying a small business, maybe like a small commercial building or hostel somewhere with good potential land value for her to take care of it while we rent it out.. Not sure if this is a good option though. I would love to explore other options and seek advice from anyone in a similar situation.

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sysarshad Active member

Member since 08 May 2019

sysarshadActive member16 December 2019 06:00:38

Hello there,

Its so thoughtful and very kind of you to create an opportunity for the maid who had served you for a very long time.

With value of land ever increasing, and tourism seeming to have picked up. A hostel or a commercial land is a good idea.

with her house keeping and cooking skills she would ideally be able to run an small AirBnb model like a hostel too..of course with all the tech work and OTA work taken care by someone who has the skill set.

As at now, there is a ban on foreign national owning land or property in Sri lanka. But this rule some exceptions such as (if your investment is more than a specific amount in a business then it allows you to own property under a foreign nationals name etc..

Im happy to help with more questions you may have.