Domain Business.

Domain buying and selling business is like real estate business. But in this you don't pay any tax. You pay just the yearly registration fee to the register the domain name and you have to pay for the domain price annually. Domains can be registered from 1 year to 10 years period. You can buy any amount of domains in any extension like .com, .info etc. To buy some domains like .US you must have a physical address in the USA, then only you are allowed to buy one. The most valued domains are the ones end with .COM extension. It is better to buy domains using your credit card and registering them under your name. If you are serious about this business you can become a reseller under so it will be easy for you to transfer it to other people whenever you want to sale it.

Also you can rent them to people who want to do their businesses under this name and get your rental fee. Or sell them to bidders who want to buy them. The price may be some hundreds to some millions depending the value and demand of the web site name. In recent years some web sites have fetched good valued prices. For example, S-x.com (add e in the middle.) around $12 million, On.com around $635,000, Macau.com around $550,000, Blue.com around $500,000 and Jasmin.com sold for nearly $310,008.

Two letters, three letter domains are also in top priced list. There are 1,000 - 2,000 individuals and companies are involved in this domain buying and selling business, where investment is very low and the profit is ultra high. There are many companies which are working as middleman and they are called also as domain parking.
A person can register with these companies online and can publicly announce the domain names which he has for sale. Others who want to buy it can bid online with their offered price.

If you are buying celebrity names and company names they may bring you legal trouble as the owner s may try to claim it according to their legal right. Also buying domain names only for cheating will also give you trouble.

How to start this domain buying and selling business?
Get a credit card and go to any web site which is selling domain - names, select any desired one and buy it using your credit card.
Get privacy for your domain. Some registrars offer this free while some may charge for this service. This is to avoid people seeing your personal information’s and also to avoid spam mails.

Put a lock to avoid unauthorized transfers without your knowledge.

Learn more about Domain names here. http://www.icann.org/