Because every homeowner who protests their assessments, with a knowledge of how the property tax assessment system works, often receives tax savings of $500 to $1000, if not more, annually on their property tax bill. the property. Simply put, the property tax bill is calculated by multiplying the homeowner’s assessment by the local property tax rate and subtracting any tax deductions the homeowner is eligible for.

The property tax doctor can show you how to lower your assessment and therefore lower your property tax bill! The Property Tax Doctor is a former tax adjuster who knows firsthand how difficult it is for the average person to penetrate the bureaucratic jungle of the tax adjuster who understands arcane terms and practices. No government document does this for the home owner.

Just like going to a doctor’s office, the first thing you need to do is gather the information you need to do the paperwork. The primary sources of that information are the owner’s property registration card obtained from the appraiser’s office and comparable home sales. Most homeowners armed with one or both of these pieces of information lower their assessment most of the time without going any further than their local tax assessor’s office.

Just as you ask your doctor some informed questions to get some pain relief, you should also ask your tax advisor (with the help of your property tax doctor) some informed questions to get some property tax relief. The best advice the property tax doctor can offer is to go to your local tax assessor’s office and check your property registration card for factual errors! Administrative errors and simple errors occur during the valuation process. Here is a partial list of common errors to check for.

1. The dimensions of your house or the dimensions of your land are wrong.

2. Failing to record depreciation under adverse conditions on the site or failing to show depreciation or minimum depreciation for an older home.

3. The dimensions of your lot are incorrect.

4. Review all the calculations, whether or not you understand where the factors come from.

5. Not taking note of depreciating off-site influences — a factory or landfill that produces toxic fumes.

6. The quality of upgrades is wrong: You have a stone, not a macadam path, or: You have the low-priced hot tub, not the big-name, expensive hot tub.

7 Finished areas are listed incorrectly — basement is shown as finished and it is not.

8. The age of the house is incorrectly indicated or the number of floors is incorrect.

My father wouldn’t let the local tax assessor, who was also his best friend, walk past the kitchen table on our farm. My father was afraid that he would see some improvements in the interior of the house and increase our evaluation. My father mistakenly believed that the improvements he had made to the inside of the farmhouse, such as a new bathroom sink, drywall repairs, wallpaper, new ceilings, new light fixtures, would increase our assessed value. Also, he postponed external repairs until after the next reassessment for fear of further assessment. Surprisingly, he was wrong. Exterior repairs such as roof replacement, masonry repair, porch repair, steps, stairs, etc. do not increase the owner’s assessment. Neither does the replacement of garage doors, sheds, sidewalks, etc.

Often establishing the proper combined property value for your home and the land beneath it is the key to your property tax appeal. To win his appeal, the owner must establish the value of his property at a lower level than the value used by the appraiser.

To establish the market value, the homeowner can go to the website http://www.zillow.com to get a rough estimate of the value of their home. The site uses a few basic variables like square footage, number of bathrooms, acreage, and number of bedrooms to calculate a home’s market value based on a formula that is based on other home sales in the neighborhood. Where zillow has sales data, this is a good first step to see if your home is priced too high.

In the years after the revaluation year, the owner must find out what the relationship between assessment and sales is for his New Jersey taxing district. This ratio is announced each year and is available from your local tax assessor’s office. It represents the average in which the appraisal value of all the properties that were sold in the last year was compared with its sale value in the municipality. Because it is important? You can provide a key factor to show that you have received an unequal assessment and have the right to challenge your property assessment discrimination for a tax reduction.

An unequal appraisal is one made at a higher proportion of the market value than the average of the other parcels in the roll. A year or so after a reassessment, housing inflation often makes the appraisal your tax assessor placed on your home appear low compared to the sales prices of comparable homes sold in your neighborhood. But beware!

A low sale assessment rate in a municipality can fool some taxpayers into thinking they are being assessed below market value and therefore getting a break. However, if all assessments are set below market value, then the tax rate must be increased to raise the necessary amount of tax revenue. The same amount of tax is collected, but taxpayers are tricked into thinking they have gotten relief and are not seeking the misassessments.

Now, don’t forget that the sales assessment rate (or common level rate) is a key factor in getting a property tax break. Let me explain. An important test of the fairness of your assessment is not just its relationship to market value. It is also whether or not it is fair in relation to the evaluations of other properties in your city. For example, if you have a house with a market value of $800,000, but it is assessed at $600,000, you may think you are getting cheap. However, if your neighbor’s house, which is comparable to yours, is appraised at only $200,000, you are paying three times as much property tax as you should!

When your property is under appeal, the County Board of Taxation can adjust the value of your home to the common level. The taxpayer must know the average ratio in the municipality where the property object of the appeal is located before filing a tax appeal. Remember that the ratio changes annually on October 1, for use in the subsequent tax year. Also, remember that this common level adjustment is not used in the year of revaluation or revaluation when all properties have been brought to 100% of market value.

Once the County Board of Taxation determines a property’s true market value, it must automatically compare that true market value to its assessed value. If the ratio between the evaluation and the actual value exceeds the average ratio by 15%, the evaluation is automatically reduced to the common level. The owner gets his property tax relief. But beware! If the ratio of assessed to actual value falls below the common level, the County Board of Taxation is required to raise the assessment to the common level. The homeowner would then get an increase in their property tax. If the evaluation is within the common level range, no adjustment is made.

Each year, on October 1 of the year preceding the tax, the assessor establishes a value for each of the properties in the municipality for the following tax year. The annual appraisal value is considered attempted during the public inspection period of the new tax list from January 1 to January 10. The purpose of the inspection period is to allow the taxpayer to determine what assessments have been made against them and to consult informally with the assessor about the correctness of the assessments.

At this point, your approach can be informal and will not require a formal written appeal. Taxpayers have the opportunity only once a year to file a formal property tax appeal. Get your tax form for property tax appeal purposes on the County Board of Taxation website. Generally, it must be received by the County Board of Taxation on or before April 1 of the tax year. If the taxpayer misses the deadline to file a formal appeal, the taxpayer must wait until the following year to contest any tax relief.

The Property Tax Doctor can help the average homeowner get the rightful tax relief. Based on the common level adjustment, described above, the New Jersey statutory standard for an acceptable margin of error in property tax assessment in your calculation is 15%. In New Jersey, where the average homeowner in 2006 paid about $5,000 per year in property taxes, which equates to an acceptable error of $750 on the property tax bill. If we administered our Federal Tax bill with that 15% margin of error, we would have a taxpayer revolt.

Gerald Downgin © 2006

In the last few years, bed bugs have become a real problem in commercial hotels, motels, and residences. I personally know someone who was a guest at a friend’s house. Little did the hosts know that they actually had a bed bug infestation problem and neither did my friend. Unfortunately for him, some of the pests actually hid in his suitcase while he enjoyed his brief respite only to transfer to his mattress when he returned home.

Finally, when my friend experienced long-term incessant and annoying itching, he started noticing a chain of bites on his arms. It was then that he decided not to waste any more time receiving medical attention. Jumping into his car, he drove to an after-hours medical center to be examined. The prognosis was clear as day, though the hour had passed well past sunset: My friend’s itch and rash were professionally diagnosed as bed bug bites.

Lest you think your ordeal ended easily, let me make it clear: this was far from the case. Liability for bed bugs not only included general annoyance, embarrassment, and intense discomfort, but also involved significant expense for the exterminator, something you would learn through your insurance agency that was not covered by your standard homeowners insurance policy. households.

My friend’s ordeal was a genuine learning experience, albeit a painful one. While someone else might have considered filing a lawsuit against his hosts who had infected him with the little bugs that ultimately caused him damage and loss, it was simply not an option for him because it went against his code of ethics regarding friendships. What the affair taught him, however, was to pay close attention to all the finer points of coverage before settling on a policy, and to weigh needs not just by comparing quotes.

While a standard homeowners insurance policy generally covers:

• Fire
• Lightening
• Sudden and accidental smoke damage
• Stole
• Vandalism
• Damage caused by aircraft, cars, trucks and other vehicles
• Windstorm damage
• Damage by hail
• Sudden and accidental water damage
• Heavy ice, snow and sleet damage
• Damage from riots and civil unrest

It does not cover:

• Flood damage
• Earthquake damage
• Frozen pipes (unless under certain situations)
• Losses incurred when your home was vacated (depending on the terms of the policy)
• Wear, termite and bed bug damage that could have been prevented with prompt care and maintenance.

Because my friend didn’t realize he had a bed bug problem right away, the crisis escalated so much that it caused damage that insurance companies defined as something that could have been prevented with proper maintenance. However, if he had included a bed bug rider in his policy before the unwanted bugs appeared, he would have benefited from the coverage.

You certainly live and learn. Now that losses are a thing of the past, my friend always knows to discuss all aspects of personal and property coverage with his independent agent, and to be very careful about where to set up temporary accommodation!

Representation:

In Israel (as in many US states), a real estate agent can represent both the buyer/tenant and the seller/landlord. Please note that this does not release either party from payment. If both parties are represented by the agent, then each party, regardless of the other, must pay the agent the agreed fee (unless, of course, otherwise stipulated and agreed).

When you decide to sell, buy, rent or lease a property, we will usually ask you to sign a form (which is a binding legal document) regarding the specific property.

It is advisable that you read this document, which is basically used, in one configuration or another, by all licensed agents in Israel. The form clearly states the agent’s fee (in the event of a deal) and stipulates that if one attempts to circumvent the agent by asking a parent, sister, or brother to purchase the property, they are still required to pay the agent’s fee. It is also important to note that the basic contract stipulates that once he has signed to buy, sell, rent or lease the property, from that moment on he is obligated to pay the agent’s fees.

It should be noted that real estate brokers and agents MUST be licensed. If you demand to see a broker’s license in good standing (either a piece of paper or a card issued by the Real Estate office that is under the auspices of the Ministry of Justice) and the Broker is unable to produce it, there is no legal bond between you and the broker, no matter how many documents you sign.

Rate:

All fees listed here are the basic fees charged by agents in Israel with respect to properties. Certainly there are some cases where we will take more than 2% or less. However, these are rare and very specific cases, and generally, unless otherwise stipulated, it is a regulatory fee scale, practiced by most licensed brokers and agents in Israel.

1. Buy or sell – 2% of the amount Plus VAT (VAT = Value Added Tax and is currently 16.5%. This is a tax that is added by the government to any sale of goods or services. This is NOT granted at the discretion of the agent. However , VAT is not added to the sale price of the property, unless it is a commercial property.

2. Rental or Leasing – It is usually a month’s rent. So, if you decide to rent an apartment for $1,500 per month, then you will owe twelve months’ rent to the landlord for one year and $1,500 + VAT to the agent. Again, VAT is not added to the actual rent (except on commercial properties), but only to the agents fee, since it is considered a “service industry”.

3. Short-term rentals – The fees for this can vary drastically, depending on the length of the rental and the actual rental rate. The normal policy is to take between 10-15% of the total deal.

Can you negotiate?

Most reputable real estate agents have strict no-negotiation policies in terms of fees. Of course, for returning clients, or for those who use our agency for more than one property, they will discuss a reduction in fees. However, don’t expect them to negotiate a rate before you have an idea of ​​what you want them to do. Also, just because you decided to take the first property that was shown to you does not mean that the agent should reduce your fee. Actually, in such a case, you should be more than willing to pay the agents’ fees, as due to his ability and knowledge, they were able to get him exactly to the place that matched his description! You hired an agent to save yourself time and frustration, and that’s exactly what they did.

Exclusive:

If you’re familiar with agents in Israel, they love the term “exclusivity.” In essence, what this means is that you hire a specific agent for a period of 3 or 6 months to be the only agent to sell or lease your property. The advantages of this type of relationship are multiple. The agent will not hesitate to advertise the property or work alongside other agents who may have clients for your property. The agency will also fully advertise the property both in print and online. In Jerusalem, the apartment will also appear on Shiran, the multiple listing of properties in Jerusalem.

So yes, the exclusivity will pay off in many cases. However, and this is critical, agents cannot demand exclusivity or try to convince you. It is the owner’s decision to follow that path. You should want to do this if the agency is reputable in the real estate and land investment market and therefore you want to sign exclusivity with more than the agency wants you to sign! However, not signing exclusivity also works well and most agencies maintain working relationships with many reputable agents in the market and deal with them constantly.

Choosing the best manager for your property can promote your real estate investment or even ruin it. You find managers everywhere in the market and it’s important to know the good from the bad.

Messaging and branding

The brand and outgoing messages that the company uses are an important factor that can be used to determine what they are really like. To understand them and how they work. So you need to ask questions.

Documentation

The first thing you need to know is if the company is authorized and recognized by the appropriate body. You need to make sure you know what kind of properties they manage and then get referrals. You should never go through with the deal if the company is unwilling or unable to provide you with the necessary documentation. When you see the documentation, you can comfortably say that their operations are legitimate.

You should also know the following things about the company:

• How rent is set and collected
• How are maintenance and repairs handled?
• If inspections of the property are carried out.
• Tenant retention and marketing
• How are tenant and owner funds handled?
• How do they select tenants?

The other things you should talk to them about include:

• Your management fees
• The management contract

This needs to be done with about three companies that you may have shortlisted before you can hire them. You must remain vigilant and not settle for the first company you find no matter how good it may seem. There is really nothing wrong with talking to other companies. Talking with others confirms that the initial preference was the best and you may even have a few more questions. Young never knows, the next company might be better than the first.

If you don’t take the time to talk to others, then you will have nothing to compare yourself to. It’s important to have an idea of ​​how other businesses operate to be sure you’re making the right decision. There are many databases you can use to locate management companies near you.

You should appreciate the fact that finding a manager for an investment you have made is a very important and big decision. You should do extensive research before settling on anyone. There are many qualities to consider when choosing a great organization.

You should try to get referrals from various sources. This is one of the best ways because you will get to know other people’s experiences first hand before choosing. You can get some amazing tips on the entire election process. Since referrals can sometimes be skewed, you need to get them from all corners. If you get the same reference about a certain company, it’s quite possible that it’s true after all, regardless of whether it’s a good or bad review.

Having bed bugs in the house can be unavoidable these days, especially if you travel frequently and stay in hotels quite often. To help solve this problem using a do-it-yourself pest control approach, many manufacturers have developed different types of insecticides to deal with this threat. Some of these products are effective while others are not; some are organically made, while others are chemically based. It is important that one understands the different types of bed bug sprays before going out to buy them.

residual insecticides
These are also called deltamethrin and are often in the form of pyrethroids. They are usually available in aerosol form. This insecticide is usually biodegradable and odorless, making it suitable for confined spaces. It was best to administer it directly on the walls or in the cracks and crevices of the floor. Quickly paralyzes bed bugs of any age. This bed bug spray is safe for people and pets. However, they are not safe for aquatic life.

growth inhibitors
This is a special and unique spray, which uses Hydroprene. It is designed to inhibit the growth of bed bugs. This leads to preventing the insects from reaching the age of maturity, which slows down their reproduction. They help eliminate insects by shortening their reproduction and maturity levels. These insecticides can be found in aerosol form and other forms, such as powder. However, hydropropene is not effective enough in killing insects.

others
There are other forms of sprays that are effective in getting rid of bed bugs. They are usually combined with additional agents, making them more expensive but sometimes more effective. However, some are known to cause health problems, hence the need to educate yourself about them before you buy. Many of these sprays are only available to licensed exterminators and require you to be out of your home for a few days until the vapors dissipate.

Ecological Liquid Aerosols
These are very effective in the bed bug removal process. These are sprayed directly into cracks and crevices in the home, the main hiding places for the insects. However, the application should only be done if it is said to be safe. Some of the liquid sprays have been known to become inert after drying, so they should be used frequently if necessary. Many use natural plant oils, such as red cedar oil, which can be very effective at killing bugs, but is safe for your family and pets. An effective spray that you probably have in your home is isopropyl alcohol. This is fast on removal and kills the

Accommodation is a need that will never be met and therefore more and more rental properties keep popping up. Rental properties are not just residential but can also be commercial to suit your business needs. If residential needs are what you have, then you have so many property options to choose from depending on where you are. Condos and apartments are the most common property types today and you’ll definitely end up in the best ones when you know what to look for before renting your unit. Since your apartment will be your home for some time, you must make all the important considerations to get the best.

Rental – Is the location of the property convenient for you? Is it close to where you work or will you have to start a commute every morning and how convenient is that for you? When thinking about location, you should also think about access to essential facilities and services. The unit you select should offer the type of views you are comfortable with, so be sure to check out the available units in relation to what seems most ideal to you.

Atmosphere – This means the surroundings inside and outside the property. If you like quiet, then you want a calm and quiet environment, and this can be hard to enjoy if you end up in a community that has a reputation for partying. You should also consider what types of residents are staying. For example, a property that is primarily home to students cannot be compared to one that is primarily home to professionals or families. The point should be to select an atmosphere that perfectly suits your personality, as well as your study or work habits.

Mod cons – What is foreseen in the property? Not only is this important to consider in your rental unit, but also the common areas that are available on the property. Internet seems to be one of the most important aspects for many people, so if this is important to you, make sure the property has it available. Sports fields, swimming pools, and entertainment areas are some of the other things you might want to consider before renting a property in a rental property.

Safety – In addition to thinking about security concerns in the area, check to see that reliable locking systems are provided on windows and doors. Smoke detectors, exit points, and other measures should also be installed so that you have a sense of safety at all times. A good property should also have a perimeter wall and some sort of security arrangement at the gate to give residents peace of mind even at night.

Construction Basics – When you rent an apartment, you want to enjoy maximum privacy when you are inside. This makes it important to consider whether the floors, ceilings, and even the walls come with some form of insulation to keep out noise. Due to how apartments are built, without proper insulation you will end up with noise from above, below and outside and this can be distracting to some. Also make sure doors and windows are well sealed to keep out the weather elements.

Traditionally, when someone buys real estate in the United States. They will go through a third-party lender. It could be a big bank like Coldwell Banker or Wells Fargo or a local credit union. Then, a person or family will obtain a loan from this lender, for the price that the seller is asking for the property. That loan is what we call a mortgage. In this case, the lender gives the buyer money to buy the house, and the seller walks away with cash in hand. The buyer and seller usually end the relationship once this transaction is completed. Owner financing, sometimes also called seller financing, is when the seller of a house, land, or some other form of real estate, keeps the mortgage in their name and the buyer pays it in monthly installments until the asking price is paid. by the seller. For example. if a seller is looking to sell his house for $100,000. They can offer it for, say, a 15-year term at an interest rate of 8%. The buyer will end up paying around $955/month for 15 years. Once that term is up and all payments have been made on time, the buyer owns the property. The seller will then transfer the deed to his name.

Probably the best thing about owner financing is that it’s a quick and easy way for someone to move into a home or buy property. With a traditional mortgage through a bank. To get that mortgage, you must qualify. Therefore, you must provide information about your income, your credit history, and sometimes a background check must be done. So you must have an adequate down payment or the bank won’t even give you the loan. Once you’ve met all of those requirements, you can buy the property, but you’ll also have to add closing costs on top of the down payment and the loan itself. It ends up being a very expensive affair just to break into a house or some piece of land. Generally speaking and depending on which owner/seller you go with, owner financing avoids all those extra costs. There is typically no credit check, no or small down payment required, and no closing costs. You just agree to buy the property and start paying, it’s that simple. You should always do your due diligence on both the property and the owner, but it’s definitely a quicker and simpler process than going through a traditional third-party lender.

If you’re looking to buy land for your family home, you can usually forget about looking for a mortgage to cover it. Lenders don’t like to make loans on raw land because it doesn’t serve as security for that loan if you decide not to pay and they have to foreclose. Now, I’ve never understood this because all the bank would have to do is build a cheap house on the property and the value of the property would skyrocket, but I guess this is too much legwork for the bank. So owner financing is really your best option when looking to buy raw land, unless you really have enough money to make a large down payment or enough to buy the land outright, which few people do considering the rising costs. of the earth these days.

When it comes to property taxes, the seller typically pays the taxes and the buyer reimburses the seller for the money they paid for these local taxes. Ultimately, the buyer pays all local taxes, but since the property is still in the seller’s name until the loan is paid off, all taxes must go through them and it is the seller’s responsibility to pay them. It is a condition of most, if not all financial owners, that if the buyer does not repay the taxes, he can be evicted from the property. This may sound like a scam, but it’s no different than not paying taxes directly to your local government or not paying escrow taxes to your mortgage lender. No matter what the situation, if he doesn’t pay the taxes, he will be evicted from his property. Hence the saying, stop paying your taxes and see who really owns your property, but I digress.

There are some downsides to owner financing. The main one is that the buyer does not really own the house until the seller receives full payment. When you opt for a traditional mortgage through a third-party lender, you’ll usually get the deed in your name right away, but as mentioned above, this won’t happen until the seller receives full payment. There’s also the possibility that the seller pocketed all your payments in the middle or for the entire loan period, and then decides you don’t own the house. I’m sure this is an edge case, but it’s definitely plausible. That is why it is so important to have a contract that details all the conditions of the transaction. Another catch is that you will almost always pay a higher interest rate from a financed homeowner than from a bank. This is because, in many cases, they are still paying the mortgage on the house or property, so they may be paying 6% interest while charging you 8 or 9%. Even those sellers who no longer have a loan to pay, charge a higher interest rate because people will pay it. You’re paying for the convenience of avoiding the up-front cost of getting a traditional mortgage.

So you can see that owner financing can be a great option for some, depending on your needs. It worked very well in my situation as I was looking to buy a property for retirement, but I didn’t have a down payment ready to buy a new property and I’m not ready to sell the house I live in now. People looking to the future to purchase land they will need later may want to consider owner financing. Land prices will continue to rise, so buying now may make more financial sense. If you buy now and make a regular monthly payment, it’s your land in 15 or 20 years, that family land could be paid off and then you’ll have a place to retire or sell for more money once it’s paid off. Either way, investing in land is a good idea, and owner financing is a great way to get your foot in the door.

My mother’s town, Santa Caterina dello Ionio, was high on the top of a mountain. Every day at 5 am I begged my aunts to take me with them to my grandfather’s orto (orchard) which he had named ‘Giangi’, which was a good half hour walk downhill towards the gorge…

We meet people who arrived at their farms long before we got out of bed. The aroma of baking bread made my stomach growl and I could see the tiny flames glowing inside their brick and stone ovens as we continued down the path.

I knew we had reached nonno’s ortho when I saw the creek, more like a stream, meandering gently through the bottom of his property. One of my aunts raised large rocks to block the flow of water and create a pond where she would wash our clothes, beating them against the rocks before drying them on a branch of the nearby giant fig tree that looked hundreds of years old.

We were deep in a stream, and when I looked up I saw the most wonderful garden built on steps on the side of the mountain. My other aunt took me to the water reservoir that Nonno had built after returning from Philadelphia, USA, around 1908. It was called ‘u concu’. All she had to do was lift a wooden panel and water began to flow down all the paths specially designed to irrigate everything. I could feel my nonno’s spirit everywhere, and even though I had never met my grandparents I felt them in my heart, as if they were sending me her love. They were humble, hard-working souls who had endured much during World War II and had accepted their lot in life. Tears well in my eyes.

Our first meal was at 11 am when the church, a couple of hundred meters above us, rang its bells to help the farmers keep time. Watches were a luxury that no one could afford.

After helping pick some figs, also fica d’India (prickly pears) and more, we sat in the little casetta, the stone house that nonno fixed up, but I’m told it was originally built centuries ago. Brunch consisted of aromatic slices of Calabrian salami, hard cheese (Pecorino, I think), and delicious Calabrian crusty bread and a pitcher of that fresh mountain dew water from nonno’s concu… I was in heaven and felt how there must have been been Eden. . This is my Calabria as I remember it… This is my experience in Calabria 1964… Memories of a child in Giangi, my Garden of Eden…

1. INTRODUCTION

For all of us (foreign) ‘locals’ in Beijing, we have seen the massive growth of foreign owned restaurants in recent years. These establishments are not only popular (and highly profitable), but add to the international cuisine and perspective of the nation’s capital. In this article, we outline the various procedures required to set up a restaurant. (There are alternatives to setting up a management office first and then a restaurant as a branch office, but more on this in later articles.)

2. BUSINESS ENTITY

To establish a restaurant, the owner must decide what type of entity will own and operate the establishment. In China, this is much more difficult than in other markets like the US, where people can own and operate businesses. Fortunately, the restaurant industry is quite open and the operating entity can be a wholly foreign owned enterprise (WFOE) (owned by a company or individual) or a joint venture (JV) (if partnering with a Chinese national), Although it is not possible for a foreigner to own the restaurant directly as a sole proprietor. Also, to open a restaurant, there are additional licenses and approvals that are needed in addition to the traditional limited liability company requirements. However, once the business is established with the proper business scope and registered capital, it can be used to open additional branches, although of course each branch will require certain approvals for that specific location (see below Health and Hygiene, Environmental Impact, etc.)
Unless there are compelling reasons to the contrary, such as locating and trusting a suitable Chinese partner, the WFOE, a limited liability company wholly owned by the investor, is the likely choice for foreigners, as it offers the most autonomy. Although previously quite common and sadly still prevalent, for the sake of simplicity, many foreigners choose to allow the Chinese partners to open the restaurant as a domestic (Chinese) company. In this case, the Chinese partners will be the sole shareholders of the company, leaving the foreign investor with no legal ownership rights. (Given the often very large initial personal investment, we advise investors to consider the appropriateness of such an ownership structure.)

3. INITIAL PROCEDURES (ONLY FOR RESTAURANTS)

In chronological order, the following procedures must be carried out before the establishment of the business entity itself:
i) Apply for and obtain the notification of company name approval with the Beijing Administration for Industry and Commerce (BAIC)
The name (in Chinese) will be composed of, and in the following order:
Part 1 – WFOE City: In this case it would be: Beijing; Part 2 – Company name (ie Bill’s BBQ); Part 3 – Type of business (ie restaurant); Part 4 – Form of organization (ie, Limited Liability Company).
Taken together, the registered Chinese name would be: Beijing Bill’s BBQ Restaurant Co., Ltd.
It is recommended that the applicant choose at least three names to verify their availability. The company name must be consistent with the actual type of business and must not go beyond the scope of the business explicitly or implicitly.

ii) Selection of a restaurant location

The location of the restaurant is obviously important from a business point of view, but according to the Beijing Municipal Environmental Protection Bureau (BMEPB) regulations, if the restaurant is located near residential areas (within 50 meters), residents they must approve it. At this time there is no regulation that defines the “approval of the neighbors”, and, currently, the BMEPB has considered the following sufficient (depending on the circumstances): survey or completed questionnaire to the residents, and letter of approval from the association of neighbours .

iii) Request and Obtain a Sanitary and Food Hygiene License before the Municipal Health Directorate

Various documentation must be provided, including, but not limited to, the restaurant’s location and site map, and the restaurant’s internal health and safety rules. Within 10 days of submitting the documents, the Health Office will notify the applicant and arrange for on-site inspection. Primary areas of inspection will include hygiene and safety of; 1) raw food preparation area; 2) kitchen area; 3) employee change area; 4) faucet and sink area; and 5) waste disposal area. Inspectors must provide an on-the-spot list of non-compliance and recommendations to remedy the situation. For certain minor problems, the submission of a photo of the applicant of the modified area should be sufficient, so as not to require a second visit by the inspector. Notification of approval, assuming all inspection areas do not require repeat visits, must be made within 20 days.

(iv) Alcohol permit record

Although registration for the alcohol permit will not be completed until after the issuance of the business license, tax registration permit, and health and food hygiene license, the applicant will need to reflect their intent to sell alcohol on the health and hygiene application. . The Food Health and Hygiene License application must include approved wording in the scope of business to indicate that you will sell alcohol.

v) Examination and Approval of Environmental Protections (EP) (District Level)

Restaurant applications do not require a separate EP Impact Report. The two required forms include: 1) Environmental Impact Application Form – to be completed by the applicant; and 2) Environmental Impact Report Form – to be filled out and sealed by an authorized environmental evaluation entity.
The Report Form will mainly examine, among others, the following: an environmental assessment of the interior and exterior environment and the immediate vicinity of the building, an environmental analysis of the site, potential and future environmental impact of the surroundings and recommendations for the protection of the environment. The primary focus of the environmental impact application is to assess the site’s potential and actual water and noise pollution, fire protection, and waste disposal.
When selecting a restaurant location (see above), it is important to note that the outdoor smoke vent exhaust fixture must be located at least 20 meters from any residence or above any residential area.

(vi) No tobacco permits

As of March 2007, the laws state that foreign business companies cannot sell tobacco-related products. Foreign companies that currently sell tobacco will not be allowed to sell these products after their permits expire at the end of 2008.

4. ESTABLISHMENT OF THE ENTITY: WFOE OR JV

i) Request Certificate of Approval
Once all of the above approvals are obtained, they will be submitted with the Articles of Incorporation and Feasibility Report (along with supporting documentation) for Letter of Approval with the Beijing Municipal Office of Commerce.

(ii) Share capital
Registered capital is the stated amount of capital that will be invested in the business. The registered capital will be reflected in the articles of association of the company and will be registered with the relevant government authorities. Since the entire registered capital amount must be invested (subject to cancellation), it is a very important legal and business decision.
Although the minimum amount of registered capital, under the Company Law, can be as low as RMB 30,000, this will definitely not apply to restaurant companies.
Please note that the investor may contribute non-monetary registered capital, among other things, in the form of technology/intellectual property rights. The cash contribution to the registered capital cannot be less than 30%.

iii) Capital Contribution

The capital contribution may be made through a single payment or in installments. The lump sum will be paid within 90 days from the issuance of the temporary business license. If paid in installments, a minimum of 20% will be paid within 90 days. The total amount will be paid within 1 year from the date of incorporation of the company.

iv) Apply for and obtain a temporary business license with the Beijing Administration for Industry and Commerce

With the Certificate of Approval, the applicant can apply for and obtain the temporary business license. The restaurant cannot start operations at this time.

v) Additional Certificates to obtain Permanent Commercial License

Once the temporary business license is issued, the applicant can apply for the various approval certificates and the capital injection. Before the permanent business license, the applicant must obtain the following certificates, reports and attend to the following banking matters:
· Certificate of Registration of the Organization Code in the Office of the Organization Code;
· Certificate of Tax Registration before the General Directorate of Taxes;
· Statistics Registration Certificate before the Statistics Office;
· Exchange Registration Certificate before the Superintendency of Exchange;
Registration of the Entry and Exit Administration Office of the Public Security Bureau
Open a basic RMB bank account with the designated bank;
Open a foreign currency capital bank account with a designated bank;
· Inject capital after the opening of the foreign exchange capital bank account by the client; Y
· Capital Verification Report with a Chinese CPA firm.

vi) Permanent commercial license with the BAIC

With the permanent business license issued, the restaurant will be legally established and able to operate fully within the commercial realm.

5. OTHER ISSUES

i) Logo / Brand Registration

Since China is a first-to-file jurisdiction, the general rule is to register any trademark as soon as possible, which basically means that whoever files first is presumed to be the owner of the trademark. Company logo and names in Chinese and English can be registered with the China Trademark Office.

ii) Carve Company Chop (stamp) and other related chops

Once the business license is issued and the business has been registered with the Bureau of Entry and Exit Administration of the Bureau of Public Security, the applicant can apply for the tabs of the business, the legal representative, and other tabs related to the Bureau of Public security. They will designate an authorized carving stamp agent to carve the chops.

iii) Other Applications and Registration
Register the business license at the district Industry and Commerce Administration and at the district Municipal Commerce Office
· Certificate of Finance Registration with the Finance Bureau
Certificate of Customs Registration before the Customs Directorate

6. CONCLUSION

All foreign investors setting up a business in China will face many obstacles. Setting up a restaurant will add many other variables to the issues involved. Proper planning, professional advice and start-up can reduce and avoid unnecessary delays and risks, so that the business can start operating and generate income.

Self-help books are often written, but not all of them are as popular as this one, “How to Win Friends and Influence People.” Dale Carnegie wrote this book in 1937 and it was later revised and became an all-time popular international bestseller. This book is always in demand already selling 16 million copies worldwide. The book has been translated into many languages. The publishing business received a real boost with the growing popularity of this book.

“How to Win…” is actually a sequel to another Dale Carnegie book, “Effective Speaking and Human Relations.” After writing this useful book, he thought of writing this one for ordinary people. The book is presented in a very interesting way. This is based on personal experiences of the author. Thus, it becomes interesting for the readers. Another interesting aspect of this book is that after each chapter there are “nutshells”, which help readers review the previous chapter. It is certainly very important, since the book must be read by chapters. Some readers tend to skip a chapter or two and continue; this is not advisable for this book.

“How to win…” is divided into four parts and all of them are equally interesting.

First Part – Fundamental Techniques in People Management.

Part two: six ways to please people.

Part Three – How to Win People to Your Way of Thinking.

Part Four – Be a Leader: How to Change People Without Offending or Arousing Resentment.

The book is descriptive and very easy to read. The author describes things and then summarizes them. This helps the reader to review the chapter and continue with the next one. The examples are taken from real life, which has made this book more interesting. Brief comments are made in such a way that the reader has an idea of ​​the facts that he has just explored. It’s easy to remember and remember later.

Although the title itself says a lot about this book, it is necessary to describe the content a little more. If you have an interest in reading self help books, this is a must read for you. However, if this is your first time picking up such a book, you will find it useful. The book recommends a couple of exercises after each chapter. If you can try to follow them religiously, your life will change. The book is not made for a particular category of people; rather everyone should go through this book. Professionals, students and others too, should read this. It is a thought-provoking book that cannot be ignored. People interested in human psychology would love to read it right away. The incidents, which were used as examples, are amazing.

Since the book is divided into many chapters, you should read this one as well. Start at the beginning, read one or two chapters at a time, and leave the rest for the next day. This practice will not make your reading boring or monotonous. Even you will feel comfortable applying the methods slowly and steadily. This is more important than just reading it. The book was written quite a few years ago, so you may not get used to the suggestion at times. In fact, this is very natural, but try tweaking a couple of things to make use of the golden hints. So you can take the main essence.

Throughout the book, there is considerable supporting anecdotal evidence that embellishes the main text. These examples are subtly incorporated, adding to the flow and depth of the arguments presented. Examples of case studies used include Theodore Roosevelt, Sigmund Freud, Abraham Lincoln, and Al Capone. Dale Carnegie also uses true stories from the original course participants. These wonderfully dated settings add a classic touch to each chapter.

“How to Win Friends and Influence People” is a timeless classic. His wonderful charm lights you up while reading, encourages you to accept suggestions. The depth of this book will surely impress you. When you enthusiastically apply the many concepts explored in this book, they are sure to win friends and influence people.