Going To Look At Buying A Business?

[obsession]

As the title says, I am going to go with the intention of buying a small business. Im not sure if you can own a business with a tourist visa or how I would change the visa from tourist to whatever. I am under 50 and single. Thanks

[Casanundra]

As the title says, I am going to go with the intention of buying a small business. Im not sure if you can own a business with a tourist visa or how I would change the visa from tourist to whatever. I am under 50 and single. Thanks

Oh dear. Now why would you seriously be bothering to own and run a business here in LOS?

Really it is too much of a hassle and what with the new proposed FBA and visa regs, well you would be selling your soul to the Thai devil

Have a look around you and ask yourself why so many good educated smart and decent farangs are upping their sticks and moving on to pastures new...

Come back when you are over 50 and get that retirement visa it is less hassle all round (at least at the moment)

[obsession]

As the title says, I am going to go with the intention of buying a small business. Im not sure if you can own a business with a tourist visa or how I would change the visa from tourist to whatever. I am under 50 and single. Thanks

Oh dear. Now why would you seriously be bothering to own and run a business here in LOS?

I ask myself the same question You are completely right, it is like selling your soul to the thais, but if you had been back in scotland for two weeks like I have, then desperate measures are called for. I just need to earn a little to top up some rental income I get and buying a business seems the only way.I have also been looking at cambodia due to the difficulty in getting thai visas. At least you can actually work there and look further ahead than your next visa application.

[Luckydog]

As the title says, I am going to go with the intention of buying a small business. Im not sure if you can own a business with a tourist visa or how I would change the visa from tourist to whatever. I am under 50 and single. Thanks

Oh dear. Now why would you seriously be bothering to own and run a business here in LOS?

I ask myself the same question You are completely right, it is like selling your soul to the thais, but if you had been back in scotland for two weeks like I have, then desperate measures are called for. I just need to earn a little to top up some rental income I get and buying a business seems the only way.I have also been looking at cambodia due to the difficulty in getting thai visas. At least you can actually work there and look further ahead than your next visa application.

Sure you wanna join the ranks of Farangs who lost a pot?

[wxpwzrd]

Appears that those that "lost a pot" are all that are replying. Maybe you have your own reasons for losing money. He obviously has his reasons for wanting to go there. Perhaps they are different than yours.

[obsession]

Sure you wanna join the ranks of Farangs who lost a pot?

Only risking a small pot. No more than 1 million baht for a small guesrhouse or a laundry. I think its the bars that lose their shirt. Also. I have experience of running a business, but not in a foreign country 20,000 bht a month drawings would be enough. Surely I can manage to make that.

[solo siam]

I agree, as long as its not a bar, hairdresser or whatnot then it should be fine, sometimes those types of businesses make money but more often they don't.

What about a website, should be pretty easy to draw 20k baht out on that, register it in the UK and you avoid the hassle of setting up a Thai company.

[Sunbelt Asia]

As the title says, I am going to go with the intention of buying a small business. Im not sure if you can own a business with a tourist visa or how I would change the visa from tourist to whatever. I am under 50 and single. Thanks

For some, owning a business has a high degree of risk. For others, they have found that owning a business has been very profitable. There is no guarantee you will lose just like you will find there is no guarantee you will win. This goes for every business in every country.

Common misconception all bars lose money in Thailand. I know four bars that make over three million net a month (not gross sales either) When it’s good it can be really good. On the other hand, I’ve seen people lose money in the bar business. Most of the times it was a small beer bar which was just a hobby for the owner.

I would recommend coming over to Thailand and investigate investment opportunities. Be sure only to choose a business you have passion for. A laundry for most people will be zero passion.

If you insist on a laundry, you will need to find a genuine Thai investor. Have a good lawyer draft a partnership agreement spelling out any potential issues such as hours expected to work by the partners, bank account, distribution of any dividends, etc.

If you go into manufacturing or export, you can own the business 100% as a foreigner.

You should get a visa in your home country before coming to Thailand. If you arrive in Thailand with a tourist visa, it will be very hard to change this to a non immigrant visa. You can own shares in a company but if you will be working you will need a non immigrant visa in order to get the work permit.

www.sunbeltasiagroup.com

[obsession]

What about a website, should be pretty easy to draw 20k baht out on that, register it in the UK and you avoid the hassle of setting up a Thai company.

Internet earnings would be perfect, but not sure how to make money from a website.

Sunbelt Asia.

Thanks for rhe advice. Ok, laundry is out, I didnt know I would need a Thai partner. One of the Thais I know seems trustworthy but why take the risk. Next to internet earnings, exporting would be good but I couldnt find any opportunities in my recent four month stay. The opportunities are there, I just need to hook up with the right mentor.

[sfokevin]

Given the new crackdown on visas by the authorities can these visas still be acquired?

http://www.lawyer.th.com/Thailand-Visa.asp

http://www.siam-legal.com/us_business.html

[Sunbelt Asia]

Given the new crackdown on visas by the authorities can these visas still be acquired?

http://www.lawyer.th.com/Thailand-Visa.asp

http://www.siam-legal.com/us_business.html

If someone is looking for this method to just stay in Thailand, we will decline the sponsorship application. The Mergers and Acquistions Dept., must in their opinion feel the applicant is genuine and meet the criteria.

www.sunbeltasiagroup.com

[sfokevin]

Given the new crackdown on visas by the authorities can these visas still be acquired?

http://www.lawyer.th.com/Thailand-Visa.asp

http://www.siam-legal.com/us_business.html

If someone is looking for this method to just stay in Thailand, we will decline the sponsorship application. The Mergers and Acquistions Dept., must in their opinion feel the applicant is genuine and meet the criteria.

www.sunbeltasiagroup.com

Would you be able to sponsor the OP given his description of his situation?... "I am going to go with the intention of buying a small business"

[naka]

Obsession, Thailand is not a land of milk and honey !

If you want to have a good life here, then make your

fortune before you arrive on these barmly shores.

Why do you think all those foreign folks are banging on the

gates trying to get into your own country ?

Naka.

[Mid]

Sure you wanna join the ranks of Farangs who lost a pot?

Only risking a small pot. No more than 1 million baht for a small guesrhouse or a laundry. I think its the bars that lose their shirt. Also. I have experience of running a business, but not in a foreign country 20,000 bht a month drawings would be enough. Surely I can manage to make that.

would that be before or after the accountant s fees , and all legal tax requirements ??

don't do it ........................................

[obsession]

Obsession, Thailand is not a land of milk and honey !

If you want to have a good life here, then make your

fortune before you arrive on these barmly shores.

Why do you think all those foreign folks are banging on the

gates trying to get into your own country ?

Naka.

I agree with you. I dont think I would risk it if I had to rely on the thai business profits. I am in fact being overly cautious. I have an income from 4 properties ( ex local authority flats ) in scotland and the proceeds from selling my house. Thats why I just want a top up of 20,000bht. I have spent 6 of the last 16 months in los, and have a fair idea of the difficulties facing a foreign business owner. Thats why I wouldnt go for a bar and thought of a laundry or small guesthouse or even a second hand bookshop. One of my properties didnt get any rent last year from july to november ( bad tenant ) and also there are local authority refurbishments( roofs and roughcast) coming up in the next few years, so I would like to save towards them and have the safety net of a thai income without touching my savings ( house sale money).

I was meaning 20,000 net.

I think people are banging on the door of the uk because they have a false image of life in the uk. I believe many are very disappointed with the real uk. I have only spoken to 2 immigrants about this, and they were both disappointed with the violent slum they were housed in ( ibrox in glasgow, only a mile from my house, the cheeky blighters ). And they didnt know places were as cold as it is.

[astral]

Obsession, Thailand is not a land of milk and honey !

Is anywhere??

[paulfr]

Why not just teach English ?

I know farangs who teach part time tutoring and pull in 20K/month

Full time teachers make more than twice that in good schools.

Not much risk either as there is large demand for white faces

to teach English here. Plenty of jobs.

Just a thought .....

[obsession]

Why not just teach English ?

I know farangs who teach part time tutoring and pull in 20K/month

Full time teachers make more than twice that in good schools.

Not much risk either as there is large demand for white faces

to teach English here. Plenty of jobs.

Just a thought .....

That was my initial plan, Id even picked a course and it included a 1 year visa. But there were changes which meant you couldnt get a job without a work permit, and work permits arent issued to part timers. I think they also want you to have a degree now, which I havent got.

[LonelyAmerican]

I taught English a few times and hated it. You will almost certainly be teaching kids, and they are likely to be kids of rich Thais who want their kids to learn English, but most of the kids have no interest in learning English and you do a lot more babysitting. Finding freelance teaching work teaching adults is much more rewarding. A lot of people do it part time, and while it is not exactly legal to work freelance for cash under the table, few people ever get in trouble for it.

I seriously looked into starting my own business too. I had Thai friends who wanted to be my partners, people I really knew and trusted, and who already owned other businesses and knew how to do it. We thought about opening an Internet cafe near Bang Na where there is likely to be development and tourists because of the new airport. We looked at the costs and potential return, and I just could not see it making sense for me. So much work and investment and in the best case I would still barely have been able to survive on the income living on my own over there, and any small business will have so much competition that you might lose your entire investment. As much as I loved living there, I decided my best option was to return to the US and make money back here, visit Thailand when I can, and think about rental properties back here in the US so that I could go over and be a perpetual tourist, and then try to retire over there someday, or get my own web based business and run it from Thailand. There aren't any easy options for living over there.

Why not just teach English ?

I know farangs who teach part time tutoring and pull in 20K/month

Full time teachers make more than twice that in good schools.

Not much risk either as there is large demand for white faces

to teach English here. Plenty of jobs.

Just a thought .....

That was my initial plan, Id even picked a course and it included a 1 year visa. But there were changes which meant you couldnt get a job without a work permit, and work permits arent issued to part timers. I think they also want you to have a degree now, which I havent got.

Edited April 3, 2007 by LonelyAmerican