Looking to start a business in Thailand

[Matt z]

Hi my name is Matt I’m from USA. I would like to start a business in Thailand. I’m leaning towards leasing a hotel but now I’m thinking there are other types of businesses there also. Any ideas? Also I’m in the transportation business in USA. I own a tractor trailer. I’m thinking maybe I can do it in Thailand 

[bojo]

As far as I'm aware, one of the prohibited jobs/business for a foreigner in the Kingdom is anything to do with transportation, logistic and transport related............................

[tonray]

25 minutes ago, Matt z said:

I own a tractor trailer. I’m thinking maybe I can do it in Thailand 

Will you be driving it over ?

[Matt z]

1 hour ago, tonray said:

Will you be driving it over ?

No I don’t think that’s possible

[Matt z]

2 hours ago, bojo said:

As far as I'm aware, one of the prohibited jobs/business for a foreigner in the Kingdom is anything to do with transportation, logistic and transport related............................

 

[Matt z]

Just now, Matt z said:

 

Thanks for your reply. I’ll contact a lawyer about it

[Doctor Tom]

Don't  !!

 

If you do, only invest what you can afford to, lose and you may well do that. There are more 'business' scams in Thailand than you can shake a stick at and unless you are experienced here, have money to spare ( and lose), know the business you are in, or want to be in, have a trustworthy Thai business partner, a good lawyer, and know the business as it pertains to Asia, you are best out of it 

[Sunmaster]

I started my business 10 years ago, with basically zero investment. I was lucky to find a good niche, doing something I am passionate about and was able to quit my day job after 3 years. 

For company registration and book keeping I use an agency (recommend DLW accounting).

You will hear a lot of naysayers telling you it's impossible to do and that you will lose all your money. It could happen of course, but don't let that stop you from trying. 

Good luck

 

 

[dimitriepreserve]

I've been living in Thailand for half a year, but I'm still working for a company in the US. I arranged with my boss to let me work remotely throughout the year so that I could travel with my family.

[bassep]

I know that being a driver is not allowed for foreigners. But you could OWNE the business and have hired drivers i think.

[dimitriepreserve]

On 10/18/2022 at 6:17 AM, dimitriepreserve said:

I've been living in Thailand for half a year, but I'm still working for a company in the US. I arranged with my boss to let me work remotely throughout the year so that I could travel with my family.

 

 I needed to get a suitable saving account not to have to pay extra taxes. You can check reviews of the best bank accounts for business. These six months passed unnoticed, and my family and I liked it in Thailand. My wife and I can live in Thailand for six months on our monthly income. Paradise, isn’t it?

[TravelerEastWest]

On 1/11/2022 at 8:20 AM, Sunmaster said:

I started my business 10 years ago, with basically zero investment. I was lucky to find a good niche, doing something I am passionate about and was able to quit my day job after 3 years. 

For company registration and book keeping I use an agency (recommend DLW accounting).

You will hear a lot of naysayers telling you it's impossible to do and that you will lose all your money. It could happen of course, but don't let that stop you from trying. 

Good luck

 

 

Exactly.

 

Starting a business in Thailand has some special challenges, learning new tax laws and the language etc but this is normal in international business.

 

If you have experience and capital etc why not start a business here.

 

I had to learn import and export rules in addition to taxation etc when I started a business here almost 20 years ago. But we have weathered floods, COVID problems lack of qualified staff (biggest personal challenge by far). And theft (not a bigger issue than elsewhere for us - and we have done well in court recovering stolen money).

 

I do have a big advantage a Thai wife that is my partner and learns quickly ...

[ThaiLawOnline]

We setup hundreds of companies in .Thailand since 2006. It is not difficult. You can always find a title like managin director for foreign marketing or another and the labour department will accept.

 

There are rules for capital required, number of Thai employees, unless you qualify for a smart visa, which I do not think you do. It is more for digital nomads. You can send me an email and I will answer in private. Thanks, Sebastien.

[h90]

On 1/11/2022 at 8:20 AM, Sunmaster said:

I started my business 10 years ago, with basically zero investment. I was lucky to find a good niche, doing something I am passionate about and was able to quit my day job after 3 years. 

For company registration and book keeping I use an agency (recommend DLW accounting).

You will hear a lot of naysayers telling you it's impossible to do and that you will lose all your money. It could happen of course, but don't let that stop you from trying. 

Good luck

 

 

 

On 10/29/2022 at 8:30 PM, TravelerEastWest said:

Exactly.

 

Starting a business in Thailand has some special challenges, learning new tax laws and the language etc but this is normal in international business.

 

If you have experience and capital etc why not start a business here.

 

I had to learn import and export rules in addition to taxation etc when I started a business here almost 20 years ago. But we have weathered floods, COVID problems lack of qualified staff (biggest personal challenge by far). And theft (not a bigger issue than elsewhere for us - and we have done well in court recovering stolen money).

 

I do have a big advantage a Thai wife that is my partner and learns quickly ...

nice to read from similar minded people. I started with almost nothing 20 years ago. And now we are a stable company.
My biggest advantage is my Thai wife. She had own companies already before we met, so she know how to run things in Thailand and I had the technical knowledge. It needed years to find good and reliable staff. And have trust so they can say "I don't know". Or "I made that wrong how do we fix it" instead of hiding that.
What are you guys doing? We produce and sell hydraulic and pneumatic seals.

[xylophone]

1 hour ago, h90 said:

I started with almost nothing 20 years ago

Me to.........I started with nothing 20 years ago and I've still got most of it!!!!!!????

[h90]

52 minutes ago, xylophone said:

Me to.........I started with nothing 20 years ago and I've still got most of it!!!!!!????

I honestly don't know what I have. My wife is always joking that she has the oldest car from everyone in the company, but she would never spend that money she was working for hard 20 years for something like a car.
We have no debts.....all her friends are on the limit of what they can get from the bank all the time....60+ nice house, nice car but when you look it is all at the bank....

[xylophone]

50 minutes ago, h90 said:

I honestly don't know what I have. My wife is always joking that she has the oldest car from everyone in the company, but she would never spend that money she was working for hard 20 years for something like a car.
We have no debts.....all her friends are on the limit of what they can get from the bank all the time....60+ nice house, nice car but when you look it is all at the bank....

You have done well h90, and like you, I have no debts and a good sum in the bank in NZ, and other investments as well, but starting a business here has never appealed to me. When I retired at age 53 I wanted to RETIRE and as I am 76 have no wish to work again.

 

Best of luck to you.

[h90]

On 4/7/2023 at 4:23 PM, xylophone said:

You have done well h90, and like you, I have no debts and a good sum in the bank in NZ, and other investments as well, but starting a business here has never appealed to me. When I retired at age 53 I wanted to RETIRE and as I am 76 have no wish to work again.

 

Best of luck to you.

I think if I would retire, I would go scuba diving, than buy a compressor and tanks myself (did that already) and as it is there already, I would offer to fill tanks and than speak with some boat owner-->2 year later I would sit again in an office and being busy with a company. Can't stop.... Bought for fun a 3D printer, now I am already processing orders.
I can't sit silent....Always starting something new. But there is no difference for me between hobby and work. I almost never worked in a company or had a boss, so I never experienced how it is to get ordered to do something.