Thinking Of Moving To Thailand To Start A Business

[huggybear]

I appreciate the responses, but wow, the negativity from much of the expat community never ceases to amaze me.

I think maybe you misconstrue negativity for what is the negative experiences the posters have already encountered and feel they should warn you about.

After seeing most of your posts I'm already under the impression you've decided to give it a go. My advice would be (unlike GW Bush), have a coherent exit strategy. Leave a bit of an egg back in the states so that (Buddha forbid) it all goes to sh****, you can pick up where you left off.

Best of luck to you.

HB

[gnode]

I appreciate the responses, but wow, the negativity from much of the expat community never ceases to amaze me.

I think maybe you misconstrue negativity for what is the negative experiences the posters have already encountered and feel they should warn you about.

After seeing most of your posts I'm already under the impression you've decided to give it a go. My advice would be (unlike GW Bush), have a coherent exit strategy. Leave a bit of an egg back in the states so that (Buddha forbid) it all goes to sh****, you can pick up where you left off.

Best of luck to you.

HB

There have been a few very informative responses thus far, and I appreciate those who try to present a realistic viewpoint of doing business in LOS. I know there will be significant challenges, and believe me, I've heard these stories before. If every foreigner with a few thousand baht could come over and make a fortune without any hard work or expertise or common sense of course Thailand would be overrun with them. I have friends and family that own businesses there, most of which have done "average" at best and provide a comfortable lifestyle for them to live off of. I also have friends and family, myself included, who have been patient and made some really smart investments and put themselves slightly ahead while waiting for the next good opportunity to come along. Having an exit strategy is an excellent bit of advise, and anyone who's read this thread all the way through would know that I've been thinking along those lines. I have several different potential sources of income and a couple of solid business ideas that I'm fairly certain will be successful, either individually, or in combination, but I'm also prepared to return to the US or elsewhere should circumstances dictate. I just want to understand the laws and common practices and what can easily be accomplished and where potential problems could arise. I am well aware that in Thailand, like anywhere else, there are many pitfalls in business. Thanks to all who've shared their advise.

[Cyberstar]

There are a couple of other ways to get a WP than getting a job or setting up a company (co.ltd). One is forming a Limited Partnership, another is to be employed by a natural employer (any Thai citizen that meets some tax-paying requirements can do). The latter opportunity was discussed at length in this thread:

http://www.thaivisa.com/forum/index.php?sh...rson+workpermit

As for Limited Partnership it shouldn't be hard for those who wants to find a few hundred threads about it on this board.

[Basch]

The 40k comes into play for one year extensions of stay inside Thailand - which could lead to Permanent Residence or even citizenship at some point...

Hello,

can you be a bit more specific? I am currently on the 40k/month 1 year visa based on marriage and planning to continue with it. I hadn't heard about PR and such in connection with that until I read your post.

Thanks,

Basch

[lopburi3]

Off topic to this thread but after three years of using extensions of stay you can apply for PR. Chance of success is dependent on a number of factors including tax amounts you have paid and you should have some knowledge of the language. For those intending to live there lives here it is probably a good move - and under current policy can not be done once here on retirement. See long thread from link at top of Thai Visa page under useful information if you wish to read up on it.

[LivinLOS]

Off topic to this thread but after three years of using extensions of stay you can apply for PR. Chance of success is dependent on a number of factors including tax amounts you have paid and you should have some knowledge of the language. For those intending to live there lives here it is probably a good move - and under current policy can not be done once here on retirement. See long thread from link at top of Thai Visa page under useful information if you wish to read up on it.

However one of the requirements of PR is substantial tax payment history..

40k per month isnt even min wage to get a work permit.. I think they look at 80k or so per month as minimums..

[lopburi3]

And I did mention that tax payment is a factor - we have no idea how much money the person may make - the 40k amount is just the minimum to obtain extensions of stay. But now is the time to do it if he wants to apply for PR as once your earning years are over your chance is gone under current policy.

[gnode]

There are a couple of other ways to get a WP than getting a job or setting up a company (co.ltd). One is forming a Limited Partnership, another is to be employed by a natural employer (any Thai citizen that meets some tax-paying requirements can do). The latter opportunity was discussed at length in this thread:

http://www.thaivisa.com/forum/index.php?sh...rson+workpermit

As for Limited Partnership it shouldn't be hard for those who wants to find a few hundred threads about it on this board.

Thanks Cyberstar, I found a lot of useful information from that thread. It sounds like the business my wife wants to open would likely meet the requirements for both my visa and work permit if structured correctly, which would keep us legal while I'm exploring other opportunities, which is precisely what I was hoping to do.

[blizzard]

if someone comes up with a busniess plan that actually makes sense maybe there wouldnt be so many negative response.

i still think if you have to come here for guidance it automatically means you need a whole lotta things go right to succedd.

[freitag1]

make money online. lots of people who live here do this.

[steveromagnino]

make money online. lots of people who live here do this.

I heard big corporations make a lot of money.

So there you go, form a big corporation.

I also heard there is money in healthcare.

So perhaps some sort of big corporation in healthcare. That would be like a double double profit, it could not possibly miss, as it is both a corporation AND in healthcare.

Simple.

[Edonista]

the pressure to permit more and more foreign investment, particularly US business investments, will continue to encourage growth and will improve Thailand's economy over time.

Open your eyes. Pressures here are all to forbid , not to permit.

The ruling class people don't give a shit about the opportunities a more open economy could deliver to overall Thailand , they are concerned only about their wealth and they see farang as dangerous competitors. Besides most of their wealth is built on other Thais misery, what would they do if farang started to improve conditions of the poor masses they exploit ?