400k Baht What Should I Do ?

[sgthai]

I really enjoyed reading this topic and learning how everyone from different country,culture and age group giving their own experience and opinion about doing business in Thailand.

I'm a chinese Singaporean in my late 40's and has been working and doing business in many countries especially in SE asia.

I, myself have been working in Thailand for the past 3yrs.

Let me share with some of you my experience and opinion as an asian.

To start off with.... my answer to the thread starter...yes 400k baht is alot and you can do many business with it in Thailand.

Jersey_UK is very correct in his comment about the amount 400k baht to be used for business by a thai and a farang.

An average thai earns about 10k baht and 400k baht is about 40 times his salary.

Try multiplying this ratio on what you earn in your own country.

If big capital is needed to start a business in Thailand,I guess many local businesses will be non existent long before anyone of you farang had step foot on to thai soil.

When it comes to business,we have to look at things in many perspective and try to find ways to reach out to it.

If simple thinking like...must have working permit,must register company first,must have big capital or whatever legal process before any business can be conducted then I would say that this people even before they begin have already failed in their business.

If big capital is needed then business is only for the rich and not for the poor.

One can start his business through their spouses or trusted friend at the beginning stage.

Only when your business is growing and making good money,you can start expanding and do whatever legal stuff like registering and getting whatever work permit you need.

Does anybody knows how much is the rental of a stall in silom area or patpong streets? I do.

Does anybody knows who owns the stall and who you pay rental to? I do

For your information...the stall rental is only about 4000 baht around silom area and in patpong it is about 30,000 baht.

Another things is..one have to pay to a certain authority a certain amount to sell his goods.And the amount varys from what you sell.

There are no legal papers for it but the practice is known as a street policy amongst the locals.

I know because I had set up a stall to sell copy watches before.

There are also many merchandise that can be very profitable.

I've stop operating my stall and is now looking at a bigger picture after getting so much information and knowledge during the period I was operating my stall.

I've been to china,guangzhou to visit some manufacturers and is very delighted to say that I will be making good profit by being a wholesaler soon.

I can't divulge much as it might jeopardise my future operation or having more competition

I can only say this..in the past I made about 120,000 baht in profit after deduction on overheads.

Most thais will be satisfied and settled for such amount but not from a Singaporean businessman.

From Where we come ,We will want to grow bigger and bigger.

As a chinese I am a very enterprising person....I am moving on to other legal merchandise as a wholesaler.

My expected profit is calculated to grow to about 500,000 baht a month minimum.

With so much money earned in hand....gentleman,you tell me....will there be any problem in setting up a company and getting whatever permit one needs to have?

The moral of the story is....if there is a will there will always be a way.

If everything have to be legal and with big capital..then coming to do business in a developing country is a wrong choice.

Staying long in Thailand doesn't make one knows thailand well if one does not mingle and mixed with the streets people.

Many farang knows alot about legality and thai culture.

How about unspoken streets rules and regulation?

This can only be reveal to one if one actually gain their trust and confident.

Yes no one wants to live more poorly when one actually comes from a develop country.

But we can learn from the thais how they make their money from a small capital and together with our experience and knowledge we can improve on it thus elevating our standard of living in Thailand too.

And all it takes is to start a small business and make it grow.

Just use your brain and let others do your work.

I hope this information will be very useful to people with no idea and low capital.

Good luck gentleman.

[PCA]

I really enjoyed reading this topic and learning how everyone from different country,culture and age group giving their own experience and opinion about doing business in Thailand.

I'm a chinese Singaporean in my late 40's and has been working and doing business in many countries especially in SE asia.

I, myself have been working in Thailand for the past 3yrs.

Let me share with some of you my experience and opinion as an asian.

To start off with.... my answer to the thread starter...yes 400k baht is alot and you can do many business with it in Thailand.

Jersey_UK is very correct in his comment about the amount 400k baht to be used for business by a thai and a farang.

An average thai earns about 10k baht and 400k baht is about 40 times his salary.

Try multiplying this ratio on what you earn in your own country.

If big capital is needed to start a business in Thailand,I guess many local businesses will be non existent long before anyone of you farang had step foot on to thai soil.

When it comes to business,we have to look at things in many perspective and try to find ways to reach out to it.

If simple thinking like...must have working permit,must register company first,must have big capital or whatever legal process before any business can be conducted then I would say that this people even before they begin have already failed in their business.

If big capital is needed then business is only for the rich and not for the poor.

One can start his business through their spouses or trusted friend at the beginning stage.

Only when your business is growing and making good money,you can start expanding and do whatever legal stuff like registering and getting whatever work permit you need.

Does anybody knows how much is the rental of a stall in silom area or patpong streets? I do.

Does anybody knows who owns the stall and who you pay rental to? I do

For your information...the stall rental is only about 4000 baht around silom area and in patpong it is about 30,000 baht.

Another things is..one have to pay to a certain authority a certain amount to sell his goods.And the amount varys from what you sell.

There are no legal papers for it but the practice is known as a street policy amongst the locals.

I know because I had set up a stall to sell copy watches before.

There are also many merchandise that can be very profitable.

I've stop operating my stall and is now looking at a bigger picture after getting so much information and knowledge during the period I was operating my stall.

I've been to china,guangzhou to visit some manufacturers and is very delighted to say that I will be making good profit by being a wholesaler soon.

I can't divulge much as it might jeopardise my future operation or having more competition

I can only say this..in the past I made about 120,000 baht in profit after deduction on overheads.

Most thais will be satisfied and settled for such amount but not from a Singaporean businessman.

From Where we come ,We will want to grow bigger and bigger.

As a chinese I am a very enterprising person....I am moving on to other legal merchandise as a wholesaler.

My expected profit is calculated to grow to about 500,000 baht a month minimum.

With so much money earned in hand....gentleman,you tell me....will there be any problem in setting up a company and getting whatever permit one needs to have?

The moral of the story is....if there is a will there will always be a way.

If everything have to be legal and with big capital..then coming to do business in a developing country is a wrong choice.

Staying long in Thailand doesn't make one knows thailand well if one does not mingle and mixed with the streets people.

Many farang knows alot about legality and thai culture.

How about unspoken streets rules and regulation?

This can only be reveal to one if one actually gain their trust and confident.

Yes no one wants to live more poorly when one actually comes from a develop country.

But we can learn from the thais how they make their money from a small capital and together with our experience and knowledge we can improve on it thus elevating our standard of living in Thailand too.

And all it takes is to start a small business and make it grow.

Just use your brain and let others do your work.

I hope this information will be very useful to people with no idea and low capital.

Good luck gentleman.

Thumbs up, enjoyed your message.

[blizzard]

hey enterprising chinees guy.

which stalls in patpong or silom area pay what rent. be specific, i cant imagine anyof em making money if they pay 30k rent. i just dont see many of em doing brisk business, hel_l they all sell the same ###### thing.

what does that stall that sells luggage by the s and m shop pay in rent. i never ever see customers there............lol.

Edited July 6, 2007 by blizzard

[bkkmadness]

i cant imagine anyof em making money if they pay 30k rent.

Why not? People can pay up to that much at JJ market for a well positioned stall and make money.

[blizzard]

do you see merchandise moving at patpong and silom stalls. i could be wrong as i dont watch all night, just as i walk thru.

[sgthai]

hey enterprising chinees guy.

which stalls in patpong or silom area pay what rent. be specific, i cant imagine anyof em making money if they pay 30k rent. i just dont see many of em doing brisk business, hel_l they all sell the same ###### thing.

what does that stall that sells luggage by the s and m shop pay in rent. i never ever see customers there............lol.

Dear Blizzard,

Before 1980 there were no stall at patpong lane only bar joints and club.

And the first stall holder is only paying peanuts ( I won't divulge more on it ) for their stall to sell their stuff.

Let me tell you something..the practice in the street is...whoever is the first person to sell their stuff there own that area.( though legally it is not theirs)

And that applies everywhere throughout bangkok.So if let say you want to rent a space there that was formerly occupied by someone else you'll have to pay him/her a rental fee at whatever market rate he decide.

And if the sales are not good why do you think the rental in patpong is so high?

And for somemore additional info....if you are selling anything that is under the IP code...you are not only just paying rental for the stall alone....there is another 2 certain party fees to be paid too every month if not you will not be able to sell your stuff there.The fees range from about anything like 7700 -35000 baht.

Surprise ??? ....well yes ..unfortunately this are the unspoken street rules that have been around for donkey years.

Did you not read about the recent bills been tabled in the cabinet regarding the police power to be decentralised? And about how all ex and present police chief having a gathering and discussion at their police club fighting for their status quo?

To give you another example...how much profit margin do you think they jackup on their stuff?

Well let me tell you this....their initial opening price is at least 500% above their cost because they know potpong is very well known now and tourist is very smart and has many information and will start off their bargaining with a 50% discount.

Yes of course there are high and low season for them but on an overall basis they will still make good profit.

Many farang comes here to drink and get to know girls and some thai friends.But to know more one have got to have friends in the business circle ( not the legal or office kind, I mean the streets type) and not just any ordinary thai.

Most ordinary thai folks don't even know about the street rules especially those working class thai.

Like they say...birds of a feather flocks together.

If you mixed only with decent thai ...this people will not know anything or be able to provide you with the correct informantion even though they are thai.

kao jai mai

Chok dee na krup !

[blizzard]

i dont think its a big secret vendors have to pay money to operate in big tourist area.

but what kind of money are they making, i just dont see a whole lot of sales going on.

if you want to educate us give us the specifics of your moenymaker, it wont hurt as you no longer do it having moved on to bigger things.

[Heng]

I know a vendor in Baiyoke that sells jeans (some legit, some obviously copies) who does about 100,000 a day in sales. As I recall, my cousin that he rents from charges him about 15,000 a month in rent for a stall about the size of a large bathroom (so small that he has to rent another shop for storage) on top of a fairly hefty 'seng' or key money payment. Going by one day to collect the rent, it's not terribly hectic, so one might think sales aren't so good. But there is a fairly continuous line of delivery kids going out with those ubiquitous giant sized plastic bags all taped up with the customer names or shops written in permanent marker on the way to their various destinations all over the area.

Along the same line, I know of a seller of antiques in River City who I've yet to see a customer in his store... but who shows up periodically at the antique auctions they hold there, sells maybe an item or two, sometimes buys an item or two. Doesn't seem like he is making money, but he has a warehouse full of antiques and just selling a few items per month is easily 10 times the rent.

Not all businesses have to operate like a hectic Hua Seng Heng gold shop or Wall Street trading pit to be making a killing.

[Jersey_UK]

Let me share with some of you my experience and opinion as an asian.

To start off with.... my answer to the thread starter...yes 400k baht is alot and you can do many business with it in Thailand.

Thanks for that post!

As I am sure most of us have noticed in Thailand at "Night Bazaars" and normal street markets that most of the stalls do not exactly sell anything unique - and once you have seen one stall full of T shirts and tat etc etc then you have seen them all........but of course if folk make a living out of selling what the market demands then who am I to say they are wrong.

A couple of months ago I was up in Chiangmai for a couple of weeks amd went to a Night Bazaar (Once a week? inside the city walls - probably has a name!) ........one "businessman" I was really impressed with in Chiangmai was selling Key rings that would normally struggle to retail at 10B even to Farang on a normal stall......for over 50B (and I think also for more, but i forget!) and he was selling them continuously. Even sold one to me! Given the custom I saw him have he must easily have cleared over 1,000B, and I suspect a lot more.

How? he made the keyrings on the spot and customised them by adding a customers name.........but more importantly he turned what is essentially a very very dull thing to watch into an interesting "event" that both attracted a crowd and kept most peoples attention for at least 5 minutes.

I am sure some of you have seen him (or similar?) - basically he had made himself a wrist band that looked kinda robocop like to which all the parts and tools needed produce the keyring were attached, including with magnets and he worked in a quick rythmn that invited a curiousity as to what he was going to do next simply making the keyring and also what the robocop wrist band contained / could do.........

IME when folk have seen a million stalls selling T-shirts they are aching to see anything different, even if for only 5 minutes..........the concept could well be expanded beyond keyrings.

Edited July 7, 2007 by Jersey_UK

[sgthai]

i dont think its a big secret vendors have to pay money to operate in big tourist area.

but what kind of money are they making, i just dont see a whole lot of sales going on.

if you want to educate us give us the specifics of your moenymaker, it wont hurt as you no longer do it having moved on to bigger things.

Dear Blizzard,

If it's not a big secret then I guess you should know how they operate.

And not only in tourist area.....everywhere in bangkok....vendors must pay...question is how much and to whom?

Judging from your question regarding about the vendors sales.....I would say that you have literally no knowledge of retail business in Thailand at all.

If you're keen then you'll need to do some ground work and survey on your own.

Go to MBK and on the 4th flr alone you'll find dozen and dozen of stall selling mobile phone.

So are they making money? Simple logic...if not profitable why so many stall???

Surely there must be a reason but only known to them and not to any ordinary people like yourself.

The vendors depending on what merchandise they sell,profit roughly ranged between 20,000 baht to 100,000 baht per month. For item that is under the IP code it ranges from about 50,000 to as much as 300,000 per month.

Wholesaler in samphaeng ( business start at around 3.00am-12pm ) selling bags alone reap in daily walk in sales of about 60,000-100,000 and delivery order to regular customer is about 200,000-300,000 baht a day.

There are many retail merchandise that is sellable like bags,sunglasses,belts,shoes,jeans,clothes,silver ware,fashion watches,remote toy car and etc.

Of course if those of us who comes from a develop country will not want to settle for less but we've got an advantage because of our experience and exposure.

From there we can improve on it.Yes I did make some good money in the past but there are also some hassle that I face from certain element. Therefore I started exploring other possibility on howelse I can make good use of the opportunity and I arrived at a decision to become a wholesaler instead.

It is not easy as one will need to do alot of net working,survey and weigh the plus and minus.

After that one will need to perpare how you want to run your operation.

For me it's very easy as I have 30 yrs of sales and marketing experience.

I can conduct sales training to my thai staff.I can do inventory checks and balances.

I'm also very competive and is willing to lower my price and play by volume.

If bangkok market is not enough I can move up to the north or south.

Thats the beauty of business in wholesales. Your circle of customer will grow and grow more eventually.

A vendor may own only a small stall but how do you know they are not supplying their merchandise to other places?

Try doing your survey in Yaworrat (chinatown),kongsan,JJ market,pathunam,lumpini and etc.

You've got a long way to learn about consumer and retail business mate

Anyway good luck to all in your business and life.

Edited July 7, 2007 by sgthai

[A_Traveller]

I do think there is a different approach here to those coming from the more formalised retail/wholesale split. I'm aware of a number of 'shops' which do little , if any 'retail' business, but have a continuous stream of wholesale activity. However, it does appear to be location centric, in other words the 'shop' has to be in a recognised <insert marketplace> environment.

Regards

[blizzard]

sgthai.

i ask becoz i dont know!

and you dont give us good answers. how do the phone shops make money at mbk 4th floor? they all wholesaling? same for the silom stalls they have lucrative whosale business so they just sit ariound all night for fun.

no offense if you really a good business what the hel_l you doing it thailand. i think its becoz you couldnt make it in singapore.

i dont get you . you say retailer face unsavory elements but wholesalers dont.

Edited July 7, 2007 by blizzard

[sonicdragon]

sgthai.

i ask becoz i dont know!

and you dont give us good answers. how do the phone shops make money at mbk 4th floor? they all wholesaling? same for the silom stalls they have lucrative whosale business so they just sit ariound all night for fun.

no offense if you really a good business what the hel_l you doing it thailand. i think its becoz you couldnt make it in singapore.

i dont get you . you say retailer face unsavory elements but wholesalers dont.

Blizard, do you actually expect people to answer your questions when you insult them in the next sentence ?

I don't know the answer as it pertains specifically to Thailand, but in Hong Kong there are similar places to MBK, where the same types of goods are sold in almost every stall/shop and I have often wondered about the economics of it. To the best of my knowledge I believe the following factors are at work:

1. People owning these stalls/shops, and their employees tend to be extremely hard working, and often own more than one stall/shop (sometimes many more)

2. There is a mix of wholesale and retail sales.

3. Buisiness is a lot brisker than it appears on the surface.

4. To a certain extend cartel pricing is in operation.

[blizzard]

if a guy cant take a little insult how is he going to make it in business.................lol.

same with those thai massage shops scattered aroiund pattypong silom area. they dont have freakking customers. whats up.

and then a few more jsut recently opened.

and that gold shop in mbk on 2nd or 3rd floor bts side with the girl with the blondish color hair with a very pale complexion. every time i pass she is looking at herself in the mirror. her shop gets very few customers while others in same area do have buying and selling going on. any dirty dealing going on here...........lol.

Edited July 8, 2007 by blizzard

[sonicdragon]

if a guy cant take a little insult how is he going to make it in business.................lol.

same with those thai massage shops scattered aroiund pattypong silom area. they dont have freakking customers. whats up.

and then a few more jsut recently opened.

and that gold shop in mbk on 2nd or 3rd floor bts side with the girl with the blondish color hair with a very pale complexion. every time i pass she is looking at herself in the mirror. her shop gets very few customers while others in same area do have buying and selling going on. any dirty dealing going on here...........lol.

It's not question of who can "take a little insult", it's a questions of courtesy.

Maybe another factor at work is money laundering.

[sgthai]

sgthai.

i ask becoz i dont know!

and you dont give us good answers. how do the phone shops make money at mbk 4th floor? they all wholesaling? same for the silom stalls they have lucrative whosale business so they just sit ariound all night for fun.

no offense if you really a good business what the hel_l you doing it thailand. i think its becoz you couldnt make it in singapore.

i dont get you . you say retailer face unsavory elements but wholesalers dont.

No offence either...i guess i'm talking to a totally ignorant person.

In the first place...do u even know anything about Singapore???

Singapore govt and developer are also moving into china.vietnam,india and thailand too.Look at TCC they are developing condo and office building in bkk sathorn area too...you mean they are not doing well in Singapore too.

Just to give you a simple example of business in sg.

A stall rental in Newton circus hawker centre used to rent from the govt about S$90 per mth during the 80's.

Now the sg govt has change it to a bidding system.

The first stall owner selling his famous duck rice bid for a record $13,000 rent a mth.

Of cos that was the highest.The average ones now are bidding around S$5,000 -S$8,000 a mth.

Labour cost eg...a cleaning lady is paid S$800-S$1,000 a mth. The cook salary is about S$2,000 -S$3,000 per mth. Stall assistant is paid around S1200-S$1,500 per mth.

A shop in downtown orchard road ,lucky plaza,the ground floor rent is about S$20,000-S$30,000 a mth.

The upper flr will cost less but still average rental is around S$5,000-S$8,000 a mth.

Yes I move out of sg to venture elsewhere because of the immense competition and high operation overhead.

The taxes are high and in sg we have many indirect taxes.

But on contrary,competition in thailand is practically non existent.

Money or capital wise not many thai ( vendors ) have it to become a wholesaler.

They can't communicate in mandarin when doing business in china where most of the cheap goods come from.

These are the advantages I have over them.

In sg most people can afford or have saving of about S$300,000 to S$1,000,000.

I would advise you to read up more about Singapore and it's people.

Houses and cars are very expensive in sg. Infact sg cars are the most expensive in the whole world.

In order to own a car ,we must first bid for a piece of paper to allow us to drive the car for 10yrs only.

And that piece of paper alone at the moment cost about S$20,000 before you can even buy your car.

Go and find out the exchange rate from baht to Sing dollar and do your sum.

I want to make my money worth and in Sg whatever i earned goes into taxes.

To top it off,I do not like our present govt so basically that is one of the reason I conduct my business oversea.

You are definitely a young man because of the way you talked and asked your question.

If this is your kind of attitude then my advice to you is.... forget about business you are not suitable for it.

I can take insult but from my customer only because I want his business.I have that to gain.

But what about you ??? You mean I must take your insult just because I am a business man ???

How naive and stupid of you to even have suggested it.

Courtesy is the way of life.

Before you learn anything about business you should start learning about basic manner and courtesy.

Sorry I am of no help to you and neither do I want to with people like you.

No offence meant either

Edited July 8, 2007 by sgthai

[AmericanGuy1066]

Q: 400k business - legally and above board for a foreigner A: not much. Given your company is supposed to have share cap of THB2mio for a foreigners work permit. Yes I know, you put it and loan it back to yourself. Most cases, you'd still need Thai shareholders to put money into the same company unless BOI approved or you're american, they need a majority. Why would they want to do that? Yes you can put it in on their behalf, or have pre-signed share sale documents. But that's bending the rules a bt far I'm afraid. i.e for less than 400k you're playing a dodgy game.

As for sgthai: you may be happy to work and have illegal businesses. Personally in Thailand that's not worth the risk for me.

The Thai stockmaket via a mutual fund, as long as you're prepared to take a longer term view, could be an interesting option eg Aberdeen or Ing fund managers

Aberdeen Thailand Growth fund is up almost 250% growth in 5 years, and 480% in 7 years. i.e >25% growth. You can get at your investment at any time. You may lose money over a short time frame. eg 2004 the fund lost 4%. But on the other hand in 2003 it was up 100%. YTD is up around 17%.

No guarantees but legal.

Edited July 9, 2007 by AmericanGuy1066

[AmericanGuy1066]

sgthai "I want to make my money worth and in Sg whatever i earned goes into taxes.

To top it off,I do not like our present govt so basically that is one of the reason I conduct my business oversea."

sgthai.

You know full well taxes are much lower in Singapore than Thailand. If you paid taxes in Singapore, but are not now doing in Thailand, then your activities won't exactly be legal. You're probably not declaring income which is tax fraud. In Thailand, I can't recall the exact amount, but it's only something like THB 8-10k you can earn tax free per month. In Singapore it's about THB 35k a month equivalent.

At the top end Thai tax is 37% over THB 4mio p.a. Singapore tax is around 22% on a much higher figure.

I think you need to spell out to people that you're recommending your business models to, that your activities are illegal and fraudulent.

Edited July 9, 2007 by AmericanGuy1066

[blizzard]

you tell em american guy! his story doesnt add up.

i am unable to as a was banned for 24 hours for questioning his knowledge..............lol.

[sonicdragon]

you tell em american guy! his story doesnt add up.

i am unable to as a was banned for 24 hours for questioning his knowledge..............lol.

I don't think people get banned for questioning someone's knowledge, but they probably do for making insulting remarks.

I believe sgthai was talking about hidden taxes in sing such as the Certificate of Entitlement permitting car ownership, but I might be wrong - I'm sure he can answer for himself.

[Jersey_UK]

I'm sure he can answer for himself.

No doubt, but he probably has better things to do than waste his time trying to educate those who want / need everything presented to them on a plate........Christ the fella was providing general info about what he is doing to be helpful, not presenting a business plan to a bank nor responding to a tax audit!

If folk actually WANT information and help from anyone I find it always best not to use insults........but opnions and experiances no doubt differ on this point..........

Is he 100% legal? Where I come from it is not always polite to ask , but certainly IMO he has given enough information to show a viable business model (whether legal or not)..........I might be tempted to copy him, if I spoke Chinese. and Thai. and could be ar#ed

[waldpyk]

I'm at a bit of a loss here : you want steady income and small risk

I presume you want more income than a fixed dollar or euro deposit would give you?

Or is it just something to do , just to keep you occupied ?

Is it you or the gf who will be working

In fact what do you want?

In general I would not advice people to start being "entrepreneurial" in Thailand unless they already did so

in their home country and then only if they know their business. Do you ?

[TigerBeer2008]

this thread is pretty informative. you can't live off 400k's interest if you put it into a time deposit. doing business in thialand with 400k (let me see, about 12k USD) is not that much. i think i wagered more than that on the super bowl alone. if you really want to do business with only 400k and that is your only source of income, then you're going to have a shitty life for a long time. if you want to make money, you gotta work hard, especailly with only 12kusd of starting capital.

a lot of thai people started with less much less, but i doubt you can live with their lifestyle.

imo, you already got the 400k, that is a nice way to spend a year in thailand.

[thai4u]

In fact what do you want?

In general I would not advice people to start being "entrepreneurial" in Thailand unless they already did so

in their home country and then only if they know their business. Do you ?

extra income for an exsist business(2 years) making 50K a month.(investment of 400K+).

Me and the wife will not operate the business by ourself , we'll hire workers to be at the shop that we'll make as the business that we already have need to take care and operate all day.

If the business can make same the exist business we have already I will be very very happy. I dont think and not expect to make a fortune from the other business.

as I say..small steady,low risk.

Yes I can live same thai.

Of course I have some sourse of money from my country but I want to be able to make money in thailand ONLY.

second business will do it easily.but I just no have idea what to do ..

[blizzard]

hmmmmm...........

after reading and learning.............lol.

the question people should ask themselves is why am i so eager to get a business in which i know nothing about.

is thailand that business friendly.............again............lol. if you cant make money in your home country come to thailand and become a millionaire( bht wise).

Edited July 10, 2007 by blizzard

[thai4u]

bizzard your comments r match with your nickname.. they r Bizzare..

I dont think many foreigners success to make actualy money in thailand and achieve what I achieved in thailand despite the enviroment and the hard work.

I can live off the money in my country..but I'm relativly young and have the power and willing to put hard work same I did with the first business.

Do u find it wierd?bad?stupid?

My bank tells me different..

I'm willing to invest extra 400K for addition business..that was the original question.

[blizzard]

i ask you this sir.

you being very successful businessman. what kind of moeny do you expect making with only a 400k baht initial investment.

[thai4u]

40-60K sir. more then this will be most wellcome.

[sgthai]

Q: 400k business - legally and above board for a foreigner A: not much. Given your company is supposed to have share cap of THB2mio for a foreigners work permit. Yes I know, you put it and loan it back to yourself. Most cases, you'd still need Thai shareholders to put money into the same company unless BOI approved or you're american, they need a majority. Why would they want to do that? Yes you can put it in on their behalf, or have pre-signed share sale documents. But that's bending the rules a bt far I'm afraid. i.e for less than 400k you're playing a dodgy game.

As for sgthai: you may be happy to work and have illegal businesses. Personally in Thailand that's not worth the risk for me.

The Thai stockmaket via a mutual fund, as long as you're prepared to take a longer term view, could be an interesting option eg Aberdeen or Ing fund managers

Aberdeen Thailand Growth fund is up almost 250% growth in 5 years, and 480% in 7 years. i.e >25% growth. You can get at your investment at any time. You may lose money over a short time frame. eg 2004 the fund lost 4%. But on the other hand in 2003 it was up 100%. YTD is up around 17%.

No guarantees but legal.

Dear sir,

I really read with amusement on your comment above.

Care to tell me how much you know about setting up a co.in thailand???

I have an existing co. registered for 3 years now with 4 thai workers thus allowing myself to have a work permit.

Do u actually think you need to pay up 2m baht into your company before you are eligible to employ a foreigner?

What put it in and then loan it back to yourself are you talking about?

What need thai holder to put in money as well are you talking about too?

My sleeping thai partner( practically not active at all,just a nominee ) is holding 51% and myself 49% and I am the one calling all the shots in my business.

Please gentleman....to survive or conduct any business in any country one had got to work smart.

Registering and govt. policy is just a guideline...there are always ways to go around it and get things done.

You don't need to pay the full 2m baht my dear sir.

All you need to do is pay 5,000 baht per million paid up capital.

For example if you want your co. paid up to be 5m baht then all you need to do is pay 5000 x 5 =25,000 baht and that is all.

And I don't need to pay salary to 4 of my thai workers.All I only need to do is to secure 4 thai national names which is unemployed and pay for their monthly social insurance medical funds inwhich the mininmum rate is 580 baht per person ( 290 employee and 290 employer)

On papers my co. have a paid up of 2m baht with 4 fulltime thai employees.

I report with holding taxes,7%vat,social insurances and personal tax every month without fail.

And what I am doing is totally legal on paper..gentleman

No offence meant at all but I guess both you and that bizzard guy are not very smart or knowledgable when it comes to business lol

Boy oh boy...this is a forum...aren't you embarass to make comments which you have no idea or knowledge on what you are talking about?

Anyway out of respect for the adminstration here I shall not carry on explaining or argueing on this subject anymore.

If you think you are the wiser...be my guest...go ahead and do what you think is right or smart.

That's your prerogative.

[blizzard]

i dont think anyone cares about the technical setting up of the companies. i want to know what business you guys are in that thai s cant do themselves.