[Investment] Exporting 1Million To Iran - Lots of Questions? | FerrariChat

[Investment] Exporting 1Million To Iran - Lots of Questions?

Discussion in 'Other Off Topic Forum' started by M3-ADDICT, Jun 12, 2007.

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  1. M3-ADDICT

    M3-ADDICT Formula Junior

    Aug 13, 2006
    986
    NOVA
    Iran has a huge need in housing. The culture is extremely young and has a lot of newly weds and also amazing numbers in the teens and higher.There isn't much capital in Iran for the private parties to work actively. So the only a few that are out there, are building low quality work and selling them 10 times the price of cost. I'm Persian myself, and I know exactly of the workman shift that goes into these houses and how they are being charged. An ok apartment is around 20K and a very nice one around 30K.

    Iran's Econ:
    Also if you aren't in the loop, the value of dollar is extremely rich in Iran. Example would be, people's monthly income is in the 100s. So if you make $150 a month you are doing good. So with that, land is pretty cheap for us who make US type income. Having been playing with some numbers, some business loan packages look extremely attractive. With 700K in usa, you can barely buy land in Northern Va, not to mention build 1 unit of single house.

    With 700K, I can easily make 1-3 sky rises in Iran, depending on apartment sizes and if it will be in penthouse format or not. Also as mentioned about the needs, units are sold pre build. So the profit will be there. The only problem is:

    1. How hard is transferring 1Million to Iran?
    *Fees
    *Transport
    *Conversion

    2. Tax Rate on incoming Initial + Profit to USA?
    *Import Fees
    *Converting Rial to USD

    Anyone has done anything like this?
     
  2. SRT Mike

    SRT Mike Two Time F1 World Champ

    Oct 31, 2003
    23,343
    Taxachusetts
    Full Name:
    Raymond Luxury Yacht
    This sort of post goes in the business & investments forum - not off topic. You need to subscribe to at least silver to be able to participate in that forum.
     
  3. M3-ADDICT

    M3-ADDICT Formula Junior

    Aug 13, 2006
    986
    NOVA
    Oh my bad!
     
  4. MGD416

    MGD416 Formula 3

    Jun 4, 2006
    2,385
    Boston
    Full Name:
    Matt
    interesting, but personally I wouldnt f*ck with Iran... and yeah subscribe, its the good life
     
  5. Zahiba

    Zahiba Formula 3

    Mar 29, 2005
    1,427
    Victoria, Canada
    Full Name:
    Malcolm
    Agreed.
     
  6. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

    Dec 4, 2004
    14,244
    It is illegal for US citizens to invest money in Iran as well as other countries that are not allies with the US (such as North Korea).
     
  7. M3-ADDICT

    M3-ADDICT Formula Junior

    Aug 13, 2006
    986
    NOVA
    AAA damn it :( That's what I thought! I knew there was some sort of rule like this. Wow, this was such an amazing opportunity.
     
  8. djui5

    djui5 F1 Veteran

    Aug 9, 2006
    5,418
    Phoenix, Arizona
    Seems funny you'd ask an internet forum something like this...don't you have an accountant if you've got that kinda cash?

    Fishy fishy.
     
  9. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

    Dec 4, 2004
    14,244
  10. M3-ADDICT

    M3-ADDICT Formula Junior

    Aug 13, 2006
    986
    NOVA
    Just a thought for now. Nothing big, imagine if I hired an accountant to tell me samething BMW told me. Also I don't have the cash, I don't know if you read the first post. I was thinking of getting a business loan. BTW Forums are educational resources too, but with live people.
     
  11. RussianM3_dude

    RussianM3_dude F1 Rookie
    BANNED

    Mar 15, 2004
    4,097
    Switzerland/Montreal
    Full Name:
    Nikolai Petroff
    They can and WILL screw with you since you are American. I wouldn't bother. ESPECIALLY on a loan. If something bad goes down, Iranian goverment can simply confiscate your property. I am sure there are business opportunities in Sierra Leone too, do you want to go there?
    Leave the Iran business to the locals, who know how to navigate the murky waters.
     
  12. SrfCity

    SrfCity F1 World Champ

    It's my guess they'd welcome you with open arms when you're flashing the money around but next thing you know you'd get picked up with them claiming you're a spy or other excuse.(maybe the US would get you?) Probably pretty dicey. There's enough Persian guys in the US with dough so I can't believe others haven't tried this or just figure it isn't worth it. Maybe there's a way?
     
  13. 62 250 GTO

    62 250 GTO F1 Veteran

    Jan 9, 2004
    7,765
    Nova Scotia Canada
    Full Name:
    Neil
    Run it through Canada.
     
  14. Kds

    Kds F1 World Champ

    Too much political risk...........
     
  15. SRT Mike

    SRT Mike Two Time F1 World Champ

    Oct 31, 2003
    23,343
    Taxachusetts
    Full Name:
    Raymond Luxury Yacht
    ;) looks like you got the advice anyway! heh
     
  16. ralfabco

    ralfabco Two Time F1 World Champ
    Lifetime Rossa

    Mar 1, 2002
    28,029
    Dixie
    Full Name:
    Itamar Ben-Gvir

    No American bank would give you a loan.


    Perhaps a French bank ? lol
     
  17. writerguy

    writerguy F1 Veteran

    Sep 30, 2003
    6,786
    NewRotic
    Full Name:
    Otto
    Naaah risk like this calls for an Israeli bank, with south african support and then profits can help a bunch of freedom fig... oh wait that has been done.
     
  18. 62 250 GTO

    62 250 GTO F1 Veteran

    Jan 9, 2004
    7,765
    Nova Scotia Canada
    Full Name:
    Neil
    Not for me. I don't vote!
     
  19. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

    Dec 4, 2004
    14,244
    +1 If you have any connection to the US and they find out, you'll be screwed. As I was looking up that pdf file on US citizens being prohibited to invest in Iran, I found another case that pissed off the Iranians there, lol. Apparently some Irish company that sold Coca Cola syrup to an Iranian bottler is now banned since their profits were being sent to Coca Cola in Atlanta. They didn't want any profits ($150k a year) going from Iran to the US...

    I suppose as long as you keep your money there, they'll be happy. I don't see how building can be so profitable if the citizens make only $150 a month. The numbers just don't add up.
     
  20. menoy

    menoy F1 Rookie

    Mar 12, 2005
    2,661
    PL
    Full Name:
    MRodziewicz
    What if the profits were to be located somewhere else (ie not USA), in lets say another investment. And only then transferred to the US. Still illegal?
     
  21. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

    Dec 4, 2004
    14,244
    Illegal in which country? Iran or the US? It's really both. If you're a US Citizen and invest in Iran, the US will be really pissed off at you if they find out. If you take the profits and send them to the US, you're going to piss off Iran. So really no one would be happy.

    US Citizens aren't even allowed in Iran. You'd have to have dual citizenship. Let's say you're married to a German and have a German passport, you could go to Iran since Germany is somewhat of an ally with Iran (Mercedes is building cars there).

    I'm sure this idea the OP presents isn't new and either has been done before or is done right now. You could get around tax laws in the US and say you got the money elsewhere. If they find out you lied and it came from Iran, well, I guess you wouldn't be in the best of situations. :)
     
  22. M3-ADDICT

    M3-ADDICT Formula Junior

    Aug 13, 2006
    986
    NOVA
    My dad has a Honda accord which he purchased around 21K. He financed the whole thing back in 2002 and has been paying around 220 dollars monthly. God bless early year interest rates. This is a 5 year loan.

    So, we said citizen makes 150 dollars. Very well. Now we said units are being sold at 20K in Iran. So if they financed the house through the bank, they would had to pay around 210 dollars monthly for 5 year loan. But keep in mind, house loans are 30-50 years depending on the packages you get. So even if we use the lowest one, 30 year. 30 * 12 = 360 Month. 20K / 360 = $56month. 150 - 56 = $94 to spend on necessities (Food, clothes, saving).

    Now if you are ready to buy a house, you usually have some sort of down payment. So according to that, your monthly will be even lower.

    Also as a builder, you don't really work with individual comes purchase time. Your job is to fund the project, get it working and receive checks from Realtors who have sold your units one by one. The finance and other stuff is the buyer's responsibility and the bank.
     
  23. djui5

    djui5 F1 Veteran

    Aug 9, 2006
    5,418
    Phoenix, Arizona
    You're gonna wind up with National Security knocking down your door soon if you keep this up :)
     
  24. ADON

    ADON Formula 3

    Feb 8, 2007
    1,059
    What do you guys think of this idea? I'm currently assmebling a team of experts to hunt down a Leprechaun and steal his Pot O' Gold. I don't have the money to hire the team yet. I'm going to get a business loan and talk to an accountant to see what the numbers might come out like. Learn about what tax laws might be involved in such an operation. We figured the Leprechauns probably got the gold 100's of years ago for like $20K. So today it could be worth $$$$$$$

    What do you guys think? It's just an idea right now. Do Leprechauns still stash them at the bottom of rainbows, or do they hide it elsewhere nowdays? All this info is crutial to building my team.
     
  25. Samimi

    Samimi Formula 3

    Oct 17, 2005
    1,699
    North of the 49th
    Full Name:
    S.
    Wow...i had never see the spelling of Leprechaun until this day...:eek:
     

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