Defector Part 9: 2017 to 2020 Expats Will Have The Greatest Wealth Creation In The FSU 5/5 (1)

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You will need a Russian lawyer or Ukrainian lawyer to help you register your business in the former soviet union.  While real estate rent prices and labour costs are at all time depressed levels it is the best time now to open an office or production facility for export from Russia, Ukraine, Belarus or Kazakhstan. The second generation of expat wealth creation is derived from purely IT companies and export driven businesses. Many SEO [ search engine optimisation] companies were founded in the FSU to help Russian and Ukrainian businesses create English only versions of their websites in order to sell products abroad. In contrast, the first generation of expat millionaires were associated with natural resources , distribution of natural resources and business management consultation. The first generation still exits in the FSU but not in numerous numbers as the second generation that have fully optimised the potential of the internet to reach a global market for their products and services. Considerably, almost all of the oligarchs [ Russian/ Ukrainian/ and otherwise have already relocated themselves and their families to their choice “Pandora”–London, England.

home of Ukrainian, Russian and now Chinese oligarchs–Londongrad, it’s no longer a British city.


But how do we profile the average expat entrepreneur–they are both women and men, however more of the latter. Strikingly, most started their journey as “english teachers” and along the road to wealth they discovered opportunities that were “missing” in the FSU.  Business models that could easily solve a common problem or deficit in the local market. The turning point for these individuals was when they encountered an English speaking russian lawyer or ukrainian lawyer–most likely as a student taking their courses. As in my case, and this scenario is repeated over nmany experiences of hundreds of expats. I had many evenings after classes with dinners and lunches and of course, vodka to discuss how business is really conducted in the city; who to pay a bribe,

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how much and when if necessary. How to properly write a contract, how to do a criminal background check on a potential partner or buyer, how to structure a business to pay all the legal tax required, how to hire staff and who the reliable logistics firms in the city were that had insurance coverage and honest reputation—-all of this from a lawyer. I also learned why it was important to master the Russian language completely and now even  Ukrainian to help build trust in business deals but also to understand the new and crazy world that I and any other expat lives and works in…


to be continued. . . ..

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many years ago we had an Australian as our English teacher. Interestingly, the Australian was not an English graduate, however, she was teaching English and was drawing more money as a salary than her local Nepali counterparts. The actual English teacher, who had done Masters degree in English was paid far less than the Australian. In developing world, there is a lof o interest over foreigners, especially from first world country.