Business with my Thai wife, what visa should i have

[Tim2650]

Hello, this question is for all the veterans,

 

My name is Tim and I'm originally from Belgium. I am soon to be married to be my Thai girlfriend of 2 years. After our honeymoon I will return to Belgium for 6 months to a year to start my old job.

 

After my return to Thailand we would like to open a business. We already have most the details figured out about our businesconcept. We think Chiang Mai is the place to be for our idea. We have looked into it and would take over an existing business for around 200,000 bath + monthly rent of about 10, 000 baht (the numbers can always fluctuate of course). We would both invest 50/50 with all the documents under my Thai wifes name.

 

To come to my question, which visa would be the least hassle for me in the long term future? A marriage visa with after 1 year renewal, requires 3 months prior extension 400,000 baht on a bank account or proof of 40,000 monthly income, This won't be a problem for me for the first couple of years but eventually i won't have this amount to show on my bank statement, because you never know if a business will be successful or not,

 

What would be the route to take in terms of a visa?

I look forward to your suggestions, thank you in advance

 

 

 

[ubonjoe]

A troll post and a reply to it have been removed.

[ubonjoe]

Moved to here.

You can get a single entry non-o visa at a embassy or consulate and then apply for a one year extension of stay at immigration based upon marriage during the last 30 days of the 90 day entry from it.

You can get a work permit and work with a non-o visa or extension of stay based upon marriage. You can use the income from working to meet 40k baht income requirement for the extension application instead of the 400k baht in a bank for 2 months.

[Tim2650]

Understood, one further question. If the business is on my Thai wife's name is it possible to get the workpermit to work for her? So that I work in our own business. I know farrang are usually not allowed to work in businesses and only can own it and hire Thai workers.

So are you suggesting to invest my money and after that get a different job inside Thailand with a workpermit?

 

Thank you for the help

9 minutes ago, ubonjoe said:

Moved to here.

You can get a single entry non-o visa at a embassy or consulate and then apply for a one year extension of stay at immigration based upon marriage during the last 30 days of the 90 day entry from it.

You can get a work permit and work with a non-o visa or extension of stay based upon marriage. You can use the income from working to meet 40k baht income requirement for the extension application instead of the 400k baht in a bank for 2 months.

 

[ubonjoe]

6 minutes ago, Tim2650 said:

Understood, one further question. If the business is on my Thai wife's name is it possible to get the workpermit to work for her? So that I work in our own business. I know farrang are usually not allowed to work in businesses and only can own it and hire Thai workers.

So are you suggesting to invest my money and after that get a different job inside Thailand with a workpermit?

It would be best to set up a partnership with your wife to be. That will make it easier to a apply for the work permit. It is possible to get a work permit if your wife has a registered sole proprietor business.

I was saying you could use income from working at you wife's business. You could you use the income from the business to prove the 40k baht.

[Tim2650]

brilliant stuff, thanks for the knowledge!

[Maestro]

 

This government website of the Department of Business Development has much useful information about registering a business in Thailand, for you in English and for your wife in Thai. As Ubonjoe mentioned, a partnership (ordinary or registered partnership or limited partnership) or sole proprietorship (business with individual owner) – see here – appear ideal for the situation you have described. 

[vukovar77]

Do not take over an existing business in Thailand.You will fail almost for sure.Nobody will sell you good business here.You will lose money only.I have experience here and I live here more than 6 year and I speak Thai.

[utalkin2me]

If you really had to, in reference to your question about not having the 400k, you could have the non-imm o multiple entry and get 90 days per entry and 60 days on extensions without any financial proof. You may just wanna do it without the 60 day extensions since you’d be so close to a border up there for the in-outs. 

 

This way, every year (or more like 17 months) you’d have to get a new non imm o multiple from savanakette or from your home country. 

[FritsSikkink]

"would take over an existing business for around 200,000 bath"

Do you know if the business has any outstanding debts (loans, tax, suppliers)?

Why 100% in your wife's name when you can own 49%? 

[action]

1 hour ago, vukovar77 said:

Do not take over an existing business in Thailand.You will fail almost for sure.Nobody will sell you good business here.You will lose money only.I have experience here and I live here more than 6 year and I speak Thai.

I've lived here 12 years and also speak fluent Thai but not sure how that has anything to do with this topic. 

I have seen many good businesses change owners with success for all parties involved.  I opened a company in 2008 and sold it two years later.  It is still in business and growing, I kept 5% of the shares and am very good friends with the current owners.  

 

If you're smart it can easily be done, but use caution as there are countless stories similar to Vukovar's about people who get into things they have no understanding of. 

Just because not everyone can do it, doesn't mean you can't or shouldn't try.  Good luck, If I can do it, you can do it.

 

[tingtongtourist]

and yet another one to be burned and crying 2 years down the track when down the tubes and not a penny

 

but yes, this is amazing thailand where they keep coming and coming and never learn

[Jimbo1964]

You also need to check what you work as. Because some businesses and positions can only be taken by Thais.

 

Further to protect yourself. The general rule here is once your shareholding is set up it will be a max 51 - 49% in your wife's favour. If you want to make your position stronger break her share down so you have two Thai partners. 25 and 26% shareholding and you 49%. May sound harsh but it offers you more protection.

 

What ever you do, once set up take the document and lock them away from everyone. Even from your beloved future  wife.

 

Sadly ive hear of too many expats get ripped off by their wives and families. Not all I might add but too many are reported so id hate to thing of the ones that aren't.

 

Good luck. And i hope she is the one for you.

[ericthai]

12 hours ago, vukovar77 said:

Do not take over an existing business in Thailand.You will fail almost for sure.Nobody will sell you good business here.You will lose money only.I have experience here and I live here more than 6 year and I speak Thai.

You cant just make a blanket statement like that.  It comes down to work ethic, business knowledge, etc

 

My wife bought a store and did great. Actually she did better than the old owner as my wife is a worker!

[vukovar77]

On 3/24/2018 at 11:59 PM, ericthai said:

You cant just make a blanket statement like that.  It comes down to work ethic, business knowledge, etc

 

My wife bought a store and did great. Actually she did better than the old owner as my wife is a worker!

Well,maybe,but mostly this is not a good option.I have bad experience about that and almost all people I know had very same experience.

There is no any logic to sell good business if you can not sell very pricey,right?

Besides,You  need a time to realize ,your business is good or not.Start -up is much,much better option to start business here on Thai spouse.

[ericthai]

12 hours ago, vukovar77 said:

Well,maybe,but mostly this is not a good option.I have bad experience about that and almost all people I know had very same experience.

There is no any logic to sell good business if you can not sell very pricey,right?

Besides,You  need a time to realize ,your business is good or not.Start -up is much,much better option to start business here on Thai spouse.

I agree mostly it's not a good option If you never owned a business or have any experience in the market you are entering.   I too have seen many guys open a business and had no experience and they closed. You cant open a company in Thailand and try and run it as if it was in the west, it wont work.  You need to adjust to the Thai market, thai workers etc.   As for the reason someone would sell a good business in Thailand, same as if in the west. Retiring, owner died, moving etc. 

[vukovar77]

11 hours ago, ericthai said:

I agree mostly it's not a good option If you never owned a business or have any experience in the market you are entering.   I too have seen many guys open a business and had no experience and they closed. You cant open a company in Thailand and try and run it as if it was in the west, it wont work.  You need to adjust to the Thai market, thai workers etc.   As for the reason someone would sell a good business in Thailand, same as if in the west. Retiring, owner died, moving etc. 

No,they will not sell good business .They will leave it to family member.Not same like like in the west.

[steve187]

you will need some Thai employees in order for you to get a work permit.

[Peterw42]

On 23/03/2018 at 5:25 PM, ubonjoe said:

It would be best to set up a partnership with your wife to be. That will make it easier to a apply for the work permit. It is possible to get a work permit if your wife has a registered sole proprietor business.

I was saying you could use income from working at you wife's business. You could you use the income from the business to prove the 40k baht.

Does that mean if Thai wife has a sole proprietor business, she can give husband a WP without the usual Thai employees and capital requirements ?

[ubonjoe]

10 minutes ago, Peterw42 said:

Does that mean if Thai wife has a sole proprietor business, she can give husband a WP without the usual Thai employees and capital requirements ?

Thai employees are needed. No registered capital but the last number I saw was 850k baht baht of physical capital.

Not sure what the most recent ministerial order states.

[Tim2650]

On 24-3-2018 at 9:24 AM, Jimbo1964 said:

 

Sadly ive hear of too many expats get ripped off by their wives and families. Not all I might add but too many are reported so id hate to thing of the ones that aren't.

 

Good luck. And i hope she is the one for you.

Thanks for the well wishes and thanks for the extra information.

 

It's sad to read a lot of negative comments on this forum (not only on my post but on this forum in general) from people with a stereotypical view in mind of a farang meeting a Thai girl in a gogobar, wanting to marry her after a short period and finally opening their own bar in the same soi. Ofcourse in this situation it's more than likely that you will fail or get ripped off during the process.

 

I just would like to say that this is not my situation. Every relationship is different and can only work with 100% trust, and I can guarantee that I trust my fiancée 101%.

 

Sorry, I had to get that off my chest haha

thanks again for your reply

[Tim2650]

On 27-3-2018 at 4:21 AM, vukovar77 said:

No,they will not sell good business .They will leave it to family member.Not same like like in the west.

I think vukovar77 has a point actually. The more i research it the more I agree with him. Taking over an existing business has its pro's and con's; and one of those con's is that their might be some problems in the financial department.

 

I'm opting to start from scratch, the most important thing for a business in Chiang Mai is LOCATION and BUSINESSCONCEPT.

 

Khob khun krap

 

[roamer]

3 minutes ago, Tim2650 said:

I think vukovar77 has a point actually. The more i research it the more I agree with him. Taking over an existing business has its pro's and con's; and one of those con's is that their might be some problems in the financial department.

 

I'm opting to start from scratch, the most important thing for a business in Chiang Mai is LOCATION and BUSINESSCONCEPT.

 

Khob khun krap

 

Well no one starts out with what they believe to be a bad concept. But the amount of business's that go under because the concept wasn't as good as they thought it was are legion.

[Tim2650]

2 minutes ago, roamer said:

Well no one starts out with what they believe to be a bad concept. But the amount of business's that go under because the concept wasn't as good as they thought it was are legion.

true, ofcourse I am aware that being an entrepreneur has incredible risks but better to die with memories than with dreams. I guess haha

I have friends who had businesses in Thailand and failed and sold it later; and I have friends who's businesses are doing pretty great.

[Tim2650]

On 27-3-2018 at 5:19 AM, ubonjoe said:

Thai employees are needed. No registered capital but the last number I saw was 850k baht baht of physical capital.

Not sure what the most recent ministerial order states.

Let's say I want to open a coffeehouse (to keep it simple), we are married, I have a non-O visa that I extent yearly, we both combined have a little more than 1 million Baht to invest.

 

1. Is it even possible to open a business in the food business with a startup capital of 1 million Baht?

2. What is would be advised: a registered partnership or my wife's sole proprietor business?

3. In order for me to get the work permit we should have a ratio of 4:1 farrang:Thai employees

   3a some sources say this ratio should only be 2:1 if you are married to a Thai spouse, true?

   3b should this be full time employees or can this be part time employees? Because it's quite a cost for a starting coffeehouse to employ and pay for 4 Thai employees.

4. If I don't work in my coffeehouse and just co-own it with my wife, can I transfer the money to my bank account and show as proof for my 400.000 Baht bank statement when I want to do my yearly extension of my non-O visa? No questions asked where the money came from.

5. Will this headache ever go away?

 

Thanks in advance

 

[stevenl]

10 hours ago, Tim2650 said:

Let's say I want to open a coffeehouse (to keep it simple), we are married, I have a non-O visa that I extent yearly, we both combined have a little more than 1 million Baht to invest.

 

1. Is it even possible to open a business in the food business with a startup capital of 1 million Baht?

2. What is would be advised: a registered partnership or my wife's sole proprietor business?

3. In order for me to get the work permit we should have a ratio of 4:1 farrang:Thai employees

   3a some sources say this ratio should only be 2:1 if you are married to a Thai spouse, true?

   3b should this be full time employees or can this be part time employees? Because it's quite a cost for a starting coffeehouse to employ and pay for 4 Thai employees.

4. If I don't work in my coffeehouse and just co-own it with my wife, can I transfer the money to my bank account and show as proof for my 400.000 Baht bank statement when I want to do my yearly extension of my non-O visa? No questions asked where the money came from.

5. Will this headache ever go away?

 

Thanks in advance

 

1. Yes.

2. I have a sole proprietor business (or better, my wife does).

3. We have 2 employees, should be full time. However you only need this after one year, so you can start cheaper.