Doing business internationally can be exceptionally rewarding, but it can also be riddled with pitfalls. Sound judgement in developing commercial ties suggests avoiding hasty decisions, especially when transferring large sums of money. The investor you found online, may not be an investor at all, but rather someone who is part of an elaborate scam. Basic due diligence often pays off in these situations. That may be as straight forward as tapping into government resources, both yours and theirs. The effort can save time and embarrassment.
A classic scenario in the Middle East, for instance, may involve an investor who poses as a member of a royal family. The term “brother” or “cousin” may not have the same blood implication in Middle East cultures, as it does in the West. And while royal families are large and sprawling, they rarely feel a need to search for investment deals. Remember that Middle East business culture is relationship-based. Be suspect of actions that run counter to that trait. ■
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