Retirement

[tigerman1956]

Hi everyone,

this is my first time on here and i hope someone can help me. I am looking at retiring in thailand with my Thai Girlfriend. She owns her own restaurant and home and i am looking to buy into both. Where do I start? How long can i get a visa for? And if we were to marry does this alter things? She lives in Korat, Northern Thailand and I have already visited her and been to her restaurant.

Any help anyone can give me i would be grateful.

Thank you, Mick

[GuestHouse]

If you are planning to retire to Thailand then I presume you have a pension/income and I also presume from what you tell us you will probably settle with your girlfriend.

If so then why are you 'buying into' her business?

It would seem that you will in anycase be sharing your pension/income with your girlfriend - certainly if she becomes your wife.

Why then the need to hand over part of your capital into a business that is already up and running?

You are retiring, you cannot by definition replace your capital - hang on to it.

[tigerman1956]

Thanks Guest House,

the reason i was buying into her businees was that her friend who owns 50% is pregnant ant wants to sell. Buy buying her 50% i will get an income. I am also selling my house in the UK which will raise me about 60k after paying everything off. I was thinking of leaving most of it in my UK bank just in case

[GuestHouse]

I'd still be very careful.

Start asking some questions: How much are you expected to pay into the business and how much are you expecting to get out of the business?

Are the claims of income realistic? What is the daily take? What are the out goings? Does the business own or rent its premisses?

Is the amount you are being asked to pay realistic?

Measure this against your property value and where that might be in five or ten years time.

--

Also take a close look at the income you need to retire in Thailand, now and in the future.

If your age is as per your user name than you are not going to get your state pension for another 13 years - do you have the income to remain in Thailand until then and after getting your state pension. (Your state pension would not on its own provide sufficient income to meet the retirement visa income requirements)

I'm not saying your plan is not doable, but it does need a lot of preparation and above all you need to look at protecting capital and securing an income which is your income in your own right.

Edited May 26, 2008 by GuestHouse

[bkkblueeyes]

Right. But you said you want to buy in to both. What can you get out of buying half of her house? Business fine.. its your life !!

To me it sounds very odd.

[tigerman1956]

I would just be buying 50% of her business. I would be living at her house. Her friend wants about £1200 for her 50%. The business makes about £500 per month. I intend going back over to check all the paperwork and to make sure it makes what she says. I have stayed in her home before and she pays for it with the restaurant takings. How do you go on with driving in thailand? Do you need an international licience or a thai one?

[TEFLMike]

With respects to the OP. it is similar

to asking 'HowLong is a Piece of String'?

[siamamerican]

Hi everyone,

this is my first time on here and i hope someone can help me. I am looking at retiring in thailand with my Thai Girlfriend. She owns her own restaurant and home and i am looking to buy into both. Where do I start? How long can i get a visa for? And if we were to marry does this alter things? She lives in Korat, Northern Thailand and I have already visited her and been to her restaurant.

Any help anyone can give me i would be grateful.

Thank you, Mick

You have little knowledge of Thailand, considering that you intend to retire there. Hard to answer the visa question without knowing your specific financial details. The TV visa section should answer most your questions without having to post your private financial data.

I don't see the point of investing in the restaurant nor the home. Take your time and don't complicate things.

Good luck

[aries27]

hey, congratulations. at least you asked before you jumped. some never did and regretted later..oooopss...

just one question: so what if the friend is pregnant? if business was good, all the more she should hold on to it for a stable income for her, her child or family... selling out doesnt make sense??? huh? duh? whatever!

am femme, am not from thailand and this is the most objective reply you can get.

THINK!!! ASK AROUND!!!! at the very least, read many of the posts here about farangs investing in TH for their GFs. if youre still convinced you are making a good decision, go for it.

Edited May 26, 2008 by aries27

[Naam]

just one question: so what if the friend is pregnant? if business was good, all the more she should hold on to it for a stable income for her, her child or family... selling out doesnt make sense??? huh? duh? whatever!

selling out makes no sense at all when the proceeds are less than 5 months profit share!

[lopburi3]

If she is unable to work it makes sense to me - this appears to be working owners and one can no longer do the work. Poster may not know that he can not do the work either as foreigners require a work permit prior to any type of work here and owning 50% does not change that (actually he probably can not own 50% in any case). He has not supplied an age or how would would stay here (visas are required and owning part of a business does not provide them). Yes, getting married would help qualify for non immigrant O visa and with proof of 40k baht per month family income that can be used for one year extensions of stay - but still does not allow work.

[coventry]

just one question: so what if the friend is pregnant? if business was good, all the more she should hold on to it for a stable income for her, her child or family... selling out doesnt make sense??? huh? duh? whatever!

I have to agree with Aries. Easy to borrow the money from a lending source and have the business in her own name. I can't see why the friend is selling based on being pregnant. As soon as the baby is born, the baby will be dumped on granny and it's back to work. This is the Thai way.

As for driving licence. International one is recognised by some insurers for only 6 months after that you must get a Thai one. The process is very easy, and so is the test. You can also pay a few Baht and not sit the test, if you know what I mean. If you do drive in Korat, then please ensure you have insurance as the traffic is a nightmare. Good luck

[thailand_tom]

keep your money in england..do not buy into her business..if you want to give her the money..since not much..give it to her to buy the girl out as cheap as possible..and let her pay for everything with the other 50% she will be getting.. and see if things change..now that she has an extra 250 a month..i do not trust anyone in thailand anymore..and i learned the hard way.

[Macclad]

You can get a Non Immigrant O Multi Entry visa from any Thai Consulate in the UK....valid for 12 months and costs about 100 quid.

After that,if you wish,you can apply for a Retirement Visa or a Marriage Visa in Thailand,if you have married,obviously,in the meantime !

Retirement Visa,you need an income of 65k baht per month or 800k baht in a bank account.You have to provide evidence of this.

Marriage Visa,you now need to show a monthly income of 40k baht now.

Personally I wouldnt commit myself to anything for at least 6 months.Use this time to get a feel for Thailand and the way things work over here.

[vrsushi]

I don't understand the general caution on here. The guy is in a long term relationship and we are only talking about a month's wages at even the crappiest job in the UK.

Give it a go. Literally, what have you got to lose?

People on this forum often talk as if the Thais were a bunch of cheating bastards, but they are not. Well, not any more so than any other people. If you trust this girl with your heart then the hard part is already done.

More info is needed on whether you SHOULD retire now, but as that is not what you are asking about then all really anybody need say is to explain the visa situation to you.

Don't listen to the moaners on here. They don't trust the locals, don't trust the girls thay have relationships with and don't even trust each other. And yet, for some reason they stay!

[coventry]

I don't understand the general caution on here. The guy is in a long term relationship and we are only talking about a month's wages at even the crappiest job in the UK.

Give it a go. Literally, what have you got to lose?

People on this forum often talk as if the Thais were a bunch of cheating bastards, but they are not. Well, not any more so than any other people. If you trust this girl with your heart then the hard part is already done.

More info is needed on whether you SHOULD retire now, but as that is not what you are asking about then all really anybody need say is to explain the visa situation to you.

Don't listen to the moaners on here. They don't trust the locals, don't trust the girls thay have relationships with and don't even trust each other. And yet, for some reason they stay!

Got burned by Thais after I committed myself to stay here. I once trusted Thais but no more. They see corruption at all levels from local government to national government, so everyone for themselves. Just because I live here doesn't mean I have to like it. I live here soley because my family lives here and doesn't want to live anywhere else. As for trusting a Thai, never again. They just don't know the meaning of truth and honesty. Edited May 27, 2008 by coventry

[denboy]

Hi everyone,

this is my first time on here and i hope someone can help me. I am looking at retiring in thailand with my Thai Girlfriend. She owns her own restaurant and home and i am looking to buy into both. Where do I start? How long can i get a visa for? And if we were to marry does this alter things? She lives in Korat, Northern Thailand and I have already visited her and been to her restaurant.

Any help anyone can give me i would be grateful.

Thank you, Mick

You have certainly put the cat amongst the pidgeons judging by the replies.

I have 14 years experience with my Thai lady with no big regrets, so there are good and bad ones.

From day one of my relationship 'I have never put all my eggs in one basket'.

I would take the middle road, give her the 20.000 Baht to buy out her freind, take a year multi entry visa from the UK and see how it pans out.

After a year living together amongst the Thai family syndrome you will have a much better feel (hopefully) of how it is working.

There is a hel_l of a big difference in the Thai culture and you either accept it or get the hel_l out of it.

Keep your capital in the UK where you get a decent return on savings but make sure you decalre yourself non resident for tax purposes.

Slowly,slowly is the key factor no matter how much you care for your lady.

The only way is to try it and find out YOURSELF.

Cheers

[klikster]

keep your money in england..

All GBP 1,200?

[tigerman1956]

Thanks everyone for all your comments, they really are appreciated. It's given me a lot to think about. I never thought it was going to be simple but some of you have obviously had bad experiences so i think slowly is the way forward. I think getting a 12 month visa and giving my g/f £1200 to buy her frinds 50% seams to be the best thing to do then see how it goes from there. I have met all her family and they seem really nice. Thanks again

[egg6447]

Right. But you said you want to buy in to both. What can you get out of buying half of her house? Business fine.. its your life !!

To me it sounds very odd.

nothing odd about it. its a bog standard scam. tigerman, you are forwarned. but then again yours just might be different. oh look a flock of pigs.

[Andrew Hicks]

I would just be buying 50% of her business. I would be living at her house. Her friend wants about £1200 for her 50%. The business makes about £500 per month. I intend going back over to check all the paperwork and to make sure it makes what she says. I have stayed in her home before and she pays for it with the restaurant takings. How do you go on with driving in thailand? Do you need an international licience or a thai one?

Accounts? Paperwork? Bet there isn't any!

Like many residents I always show my UK licence. No probs so far.

"Take it slow cos Daddy-oh you can live it up and die in bed."

Andrew

[Gary A]

It's a very simple thing. Any money you invest is the same as a gift to her. If the relationship goes on the rocks you will be leaving and you will have no claim to anything. If you are a logical guy and are thinking with your big head, it sounds like a reasonable deal. You either trust her long term or you don't. If you can't afford to lose the money, keep it in the UK.

[distortedlink]

Thanks Guest House,

the reason i was buying into her businees was that her friend who owns 50% is pregnant ant wants to sell. Buy buying her 50% i will get an income. I am also selling my house in the UK which will raise me about 60k after paying everything off. I was thinking of leaving most of it in my UK bank just in case

I beg you, dont do it.

[justcruisin]

Could not agree more with last post

I purchased a car 2 months ago in my ladys name,now it seems a ticket for a life of absolute luxury for her if she changes it back to my name.... Bribery

We have been together for 2 years.

Now she has leverage and is proffering all sorts of offers,ie buy land for her or 30k bht mth salary from me.

Fools rush in where angels fear to tread

[mrsmith]

i agree with you.the gentlemen should wait at least 1 year,my question is the original poster said that his gf owned the rest,but her friend owned 50%??? who really owns the rest?

thanks

keep your money in england..do not buy into her business..if you want to give her the money..since not much..give it to her to buy the girl out as cheap as possible..and let her pay for everything with the other 50% she will be getting.. and see if things change..now that she has an extra 250 a month..i do not trust anyone in thailand anymore..and i learned the hard way.

[mrsmith]

hi aries,i completely agree with you!!!

hey, congratulations. at least you asked before you jumped. some never did and regretted later..oooopss...

just one question: so what if the friend is pregnant? if business was good, all the more she should hold on to it for a stable income for her, her child or family... selling out doesnt make sense??? huh? duh? whatever!

am femme, am not from thailand and this is the most objective reply you can get.

THINK!!! ASK AROUND!!!! at the very least, read many of the posts here about farangs investing in TH for their GFs. if youre still convinced you are making a good decision, go for it.