Newb Needs Some Advice

[ben23]

Hi everyone good forum!

Me and my thai friend want to set up a muay thai gym in phuket or chaing mai, im a bit confused with all the rules and stuff.

How do i go about starting up, ive read about starting up a company to get myself a work permit but i read that you need 2 million baht of registered capital, i dont have that much money at the moment, i also read that you dont actually need all the 2 million baht straight away to get the work permit. What would be the best solution, could my thai friend employ me if he sets up the company in his name?what is registered capital is that money that you need in a thai bank account?

i intend to be marketing/internet manager, could anyone break it down simply the best way for me to go about this?

thanks

[JonnieB]

Hi everyone good forum!

Me and my thai friend want to set up a muay thai gym in phuket or chaing mai, im a bit confused with all the rules and stuff.

How do i go about starting up, ive read about starting up a company to get myself a work permit but i read that you need 2 million baht of registered capital, i dont have that much money at the moment, i also read that you dont actually need all the 2 million baht straight away to get the work permit. What would be the best solution, could my thai friend employ me if he sets up the company in his name?what is registered capital is that money that you need in a thai bank account?

i intend to be marketing/internet manager, could anyone break it down simply the best way for me to go about this?

thanks

Buy a general "doing business in Thailand" type book at a local bookstore, read it, then post specific questions on the forum. Then, find a good Thai business lawyer and accountant. But a question, this is not exactly an unserved niche in Thailand...maybe look for another business sector.

[Sateev]

There was a thread somewhere that indicated that the minimum needed to start up a business here was in the neighborhood of 650K for the initial investment, including the legal services, government fees to get it registered, and initial capital in the bank. The 2 million would then have to be shown after the first year of operation (I think). Search around, and find the post.

I would have to strongly agree with the previous poster, or put another way: what are you bringing to Thailand that Thailand doesn't already have in spades? You can't swing a dead cat without hitting a boxing club/Muay Thai school here...

If you're thinking farang clientèle, maybe better to hook up with an existing school, and offer a package, say, including accommodation, and some other activities, maybe a six-week bootcamp-kind-of-thing.

In any case, good luck, and if you can, post back here whatever the results.

Sateev

[tijnebijn]

Just make a chat with guys who allready successfully are operating a muythai gym .

Fairtex in Pattaya perhaps ? At least they can give you an idea .