My wife (South Korean) and I (American) want to open up a restaurant in Jomtien. We are both on tourist Visa exemptions on arrival. How do we set this up? Do we need a lawyer to assist in setting up a business? On a related note, We are in the process now of finalizing a condo purchase which is in a "company name." Can we start the business through this company?

If you already have a company name condo (rather you than me) then presumably you also already have a lawyer. Have you asked him?

 

Personally I would not like the idea of having to have Thais owning half of my company, though if you are a US citizen there may be a workaround for that.

 

Nor would I like the idea of dealing with Thai staff, most of whom do not appear to be very reliable.

 

Good to see you have the visa issue all sorted!

Can someone recommend a good lawyer in Pattaya to take care of such things? 

And we haven't got the Visas sorted out as we need to get a business Visa connected to the company which we haven't started yet.

Sounds like you have only looked into purchasing a condo and no farther. Get it all sorted before laying down any money. If an second hand condo you need to do a title search and not take it for granted that the seller is above board.

2 hours ago, soistalker said:

And we haven't got the Visas sorted out as we need to get a business Visa connected to the company which we haven't started yet.

As far as I know you are unlikely to get a business visa for a non-trading company that only owns a condo. Unless perhaps the condo is worth more than 10MB in which case you could qualify for an investment visa.

 

Neither of which would allow you to work in a restaurant as far as I know. But maybe you dont intend to actually work yourselves?

 

Either way you will end up with Thai nominees owning more than half of the company and also its assets.

 

There may be some possible exceptions for US citizens under the Amity Treaty, but I have no knowledge of how those work if at all.

 

2 hours ago, soistalker said:

Can someone recommend a good lawyer in Pattaya to take care of such things? 

I would be extremely wary of lawyers in Pattaya and I dont think that personal recommendations have much value unless you know the person very well.

 

Disclaimer: I am not a lawyer and I go out of my way to have as little to do with them as possible. So I also avoid any situation that might make it necessary for me to consult a lawyer, such as marriage, partnerships, companies etc. Life is just too short.

Starting up a new business now....good luck with that....plenty of empty premises here in Pattaya/Jomtien to rent from similar failed ventures

 

sorry to be so negative but I,m just being honest....3 restaurants alone on soi Bukhaow have gone down the pan in the last couple of months alone...others are hanging on by their threads.....perhaps Jomtien maybe a better option...but I doubt it.

Edited June 24, 20196 yr by petermik

4 minutes ago, petermik said:

perhaps Jomtien maybe a better option...but I doubt it.

I live in Jomtien and I have seen more failed businesses here than I can shake a stick at.

 

The only ones that seem to survive are those that dont have high rent to pay.

2 minutes ago, petermik said:

the last couple of moths alone...others are hanging on by their threads

Moths and hanging on by threads is quite precarious indeed... 

 

Just having fun but you are 100% correct... restaurants are an incredible amount of work, workers are spotty, and then all the added hurdles of trying to do business in a foreign country where they may not be familiar with language and customs... this is a challenge way beyond being a great restauranteur... 

It is old but very sage advice that if you want to make a small fortune start with a big fortune and buy a business in Thailand.

 

Making money with a restaurant in any part of the world is difficult, just look at what happened to Jamie Oliver recently. 

 

Add in all the problems of Thai majority ownership (even if it is "supposed" to be only on paper) requirement, Thai regulations about whether or not you can work since you are a farang, and if you can work you have to have a certain number of Thai employs for every farang. 

 

My advice is simple, don't even try in Thailand.  Take your money somewhere else with a more friendly business climate for the two of you.

 

You cannot and be very careful anyone tell you that you can they are just lining you up for a big shock

They will charge you to 'help' but the truth is - you cannot own and operate a business legally without thai citizenship and at bare minimum in form of thai partner

Dont listen to anyone tell you different check labour law yourself and see what will happen - you will loose entire investment no one will care then they will fine you more

Don't get fooled you must have thai partner to begin plus 3 million baht in the bank account then you need to get a work permit and business visa processed - it's going to take around a year to setup just your immigration. Better you just invest in the stock market or buy a condo and trade property - you cannot operate a restaurant without work permit and that permit is incredibly long and difficult process to obtain without knowing thai and having a thai partner

3 hours ago, KittenKong said:

I live in Jomtien and I have seen more failed businesses here than I can shake a stick at.

 

The only ones that seem to survive are those that dont have high rent to pay.

yes all over thailand thousands of failed business because many reasons - no permits allows anyone open copy cat business - no planning permission - total chaos with no order at all - its a mess! Plus they no respect or even small business knowledge just very retarded mindset of a backwards onlooker who thinks they can try also - then no tax on derelict property so we have the total swamp for urban decay and rot sets in

The truth is the place is polluted and that makes it very hard to start a business because so many copy cat and rubbish standards and they stay open because will work for a pittance

This is why we never see social progress just degradation and if you are willing to be lord of the ghetto then you can wear that jewel and let it shine because the money is in gogo and selling bootleg liquors

would the number of for sale signs on shop fronts not put you off ?

Dont buy ur condo in a company name man, run away...

 

There's tons of condos in foreign quota in Pattaya - yes TONS of, there is absolutely no need for a company and you can just own it in your own name.

 

Tons of info here on the forum, take some time and read through all of it. 

17 minutes ago, MartiniMan said:

They will charge you to 'help' but the truth is - you cannot own and operate a business legally without thai citizenship and at bare minimum in form of thai partner

Quite an ironic post (in it's entirety, not just the above).

 

Quote

 

Amity Treaty, Thailand - USA

The treaty allows for American citizens and businesses incorporated in the US, or in Thailand to maintain a majority shareholding or to wholly own a company in Thailand, and thereby engage in business on the same basis as would a Thai national. 

 

 

Good luck - nothing more but     G O O D   L U C K!

The last thing you want to do is to open a restaurant in Pattaya in general and Jomtien in particular. 

8 hours ago, soistalker said:

My wife (South Korean) and I (American) want to open up a restaurant in Jomtien.

May I ask why? If it's for a 'hobby' for your wife, it could be a good idea (depends on the depth of your pockets). If it's to 'make money', forget it.

7 hours ago, Olmate said:

Good to see you have the visa issue all sorted!

Does that mean they have the correct visas to go with work permits which they will need if they are actively involved in operating the business? 

Don,t do it ????

Lots of incorrect info and advice given here, be careful what you believe. Lawyer - yes, seek professional advice, I now get my legal advice from a lawyer in Surin, ones in the Bangkok/Pattaya area can be too "familiar" with foreigners and may not treat you seriously.

 

And as an aside, my work permit took 2 months to come in from the date I started looking into it, and in retrospect I could've done it in 2 weeks with all the correct information that I eventually put together. I did it on my own... well, with the help of a Thai friend of mine.

 

I run 3 separate business under one company name: 1 selling Thai desserts, 1 in real estate, and 1 in cosmetics, all in Thailand. To open the company, the info given here is correct, a Thai national(s) has to hold 51% initially, but I (actually not me, the Thai national) only needed to show 1,020,000 THB in a bank account, not the 3 million said on this thread.

Astro rent is the business killer here relative to the price of what your selling along with a non alcohol selling days that seam to be every other day now and when you find that out for yourself off loading your black hole to the next mug is insanely difficult unless you have a stoke of luck like me???? 

Why not just give your money away? Less stress!

 

Every day businesses close down and if amazingly you made a success, then the local Thais will take it way from you! PLEASE get real!

 

 

Don't do it, far too many places with no customers. Big risk.

1 hour ago, scorecard said:

Does that mean they have the correct visas to go with work permits which they will need if they are actively involved in operating the business? 

No, no visa at all. 

7 hours ago, KittenKong said:

 

 

The only ones that seem to survive are those that dont have high rent to pay.

Which is why OP, if i were you i would look to purchase a ground floor freehold condo (no need to be in company name) in a popular building and where the managment allow businesses such as cafes and restaurants to operate from. You should also be able to stay there too.

 

Can't help you with the visa side of things but there are several Russians in Jomtien working at and or operating businesses from similar premises. I would imagine that if certain people are on your payroll, then you will be left alone.

A small shop or a restaurant in Pattaya .. thats a great idea, I bet no one has thought of that before.

member and prolific commentator for 6 or 7 years....now has no clue?

Edited June 24, 20196 yr by emptypockets

4 hours ago, Racha Bates said:

Lots of incorrect info and advice given here, be careful what you believe. Lawyer - yes, seek professional advice, I now get my legal advice from a lawyer in Surin, ones in the Bangkok/Pattaya area can be too "familiar" with foreigners and may not treat you seriously.

 

And as an aside, my work permit took 2 months to come in from the date I started looking into it, and in retrospect I could've done it in 2 weeks with all the correct information that I eventually put together. I did it on my own... well, with the help of a Thai friend of mine.

 

I run 3 separate business under one company name: 1 selling Thai desserts, 1 in real estate, and 1 in cosmetics, all in Thailand. To open the company, the info given here is correct, a Thai national(s) has to hold 51% initially, but I (actually not me, the Thai national) only needed to show 1,020,000 THB in a bankunt, not the 3 million said on this thread.

Nobody has to actually show anything...I call troll.

You are on the path to success it seems ❤️

 

 

The Lawyer that I would use for certain is

British Law

3rd Rd Pattaya

The company is owned and manage by an English man.

He is very experienced in the matters that concern you.

 

 

You have not stated your motives for such a venture

I assume that making money is not one of them.