Open A Restaurant With My Thai Wife

[leopoldo]

Hi everyone, please help me on it.

My project is to open a restaurant to work in it with my future thai wife. I need to contain at max expenses because I have only a little budget. The plan is to go to thai with a touristic visa, marry, then convert it to a non-immigrant to request a OYSP for marriage. At this point open a company me with her (and if need she have 2 sisters can join us in company/partnership or to be employed) and request the wp for me. I would like to know if and how is possible to do avoiding the 2M baht of capital for the company (that we don't have )

I read on the Business Setup For Thai Wife topic (a bit outdated) that there's a way but I need fresh news about the situation as laws changes very quickly and with no stop in thai.

Many many thanks for any help on it

Gbye

Max

Restaurants have the highest failure rate anywhere in the world, so make sure you have a business plan detailing expences versus revenue, fixed costs and variable costs, projected turnover, and a budget that controls food costs, bar costs, the resulting gross profit, and projected nett profit, and then look what the bottom line is telling you, when all this works out satisfactory, (without any silly projections) then and only then give attention to your personal visa matters, and business partnership matters. Good luck.

Max

[abdulrahman]

Hi everyone, please help me on it.

My project is to open a restaurant to work in it with my future thai wife. I need to contain at max expenses because I have only a little budget. The plan is to go to thai with a touristic visa, marry, then convert it to a non-immigrant to request a OYSP for marriage. At this point open a company me with her (and if need she have 2 sisters can join us in company/partnership or to be employed) and request the wp for me. I would like to know if and how is possible to do avoiding the 2M baht of capital for the company (that we don't have )

I read on the Business Setup For Thai Wife topic (a bit outdated) that there's a way but I need fresh news about the situation as laws changes very quickly and with no stop in thai.

Many many thanks for any help on it

Gbye

Max

Restaurants have the highest failure rate anywhere in the world, so make sure you have a business plan detailing expences versus revenue, fixed costs and variable costs, projected turnover, and a budget that controls food costs, bar costs, the resulting gross profit, and projected nett profit, and then look what the bottom line is telling you, when all this works out satisfactory, (without any silly projections) then and only then give attention to your personal visa matters, and business partnership matters. Good luck.

Max

Hey,Leo,trying to reach Dr.Pat record with your repeated posts?

Read yhe advice on the top of the page before sending!

[Paul MBMG]

Paul, I think as italian cannot own a sole proprietorship, it can be in her's name.

I know that running a business and obtain a visa are 2 different things.. can I obtain the OYSP being married, and the business is the business.. what's the point?

ciao

Max

Max

sorry if that wasn't clear

In many cases, the most tax and cost efficient way to run a restaurant is a sole proprietorship under the special favoured status that restaurants enjoy by royal decree. Such a sole proprietorship would be in your wife's name and you'd have to look at the other methods of obtaining a visa.....but if it's only the visa tha's interesting, then why not start by just looking at these and not the business angle at all? Or if both then consider the business and visa as separate requirements as well as combined.

Plenty of ways to skin this cat!

[Rhys]

And all too " I told you so" situation... Are you ready to give away your hard earned...stash.. because in the end that will happen. Just come out..enjoy the lifestyle..

Best of luck..

[farang555]

y doesnt tingtong worry about if business will make it or not, then all else will fall into place.

only worry bout structure seems a bit tingtongish if you ask me!

[maxtingtong]

Can I suggest TV members should also read Maxtingtongs other post on Land to farm in Issan make your own minds up, my 2 bahts worth is :

Max you are a tingtong aren't you - in this post you talk of "your wife' yet in the start a business thread you talk of plan to marry and the story grows & grows like pinochio??? In one thread you are looking at starting a small business and in the other you are going to have people farm the land whilst you live in Bkk.

From the TT Start a farm in Issan post - What's the best for that area? What you would do with it?

I won't start my farmer life, but just manage it giving work to some local friends of her's family meanwhile we stay in bangkok.

From TT's Start a business Thread - Hi everyone, please help me on it.

My project is to open a restaurant to work in it with my future thai wife. I need to contain at max expenses because I have only a little budget. The plan is to go to thai with a touristic visa, marry, then convert it to a non-immigrant to request a OYSP for marriage. At this point open a company me with her (and if need she have 2 sisters can join us in company/partnership or to be employed) and request the wp for me. I would like to know if and how is possible to do avoiding the 2M baht of capital for the company (that we don't have

Yes Mijan, at the moment we're still not married, but its in the plans, and to make the post shorter I talked about my wife, in projection. About the other post about the land in isaan is another alternative project I have. She already own the land, I would like to understand if is worthy do something with that.

Nothing that strange, tingtong or pinocchio, just considering my options. In a month i'll be there to play my turn, so I gather all the possible infos before and then when there I will decide what to do together with her.

Bye Max

[thaigene2]

Why dont you just get a non imm O visa which intitles you to stay in thailand for 15 months? And then think about a business once your here?

That's the best advice so far (haven't read further down yet). But I think he said he's not married yet. So you should get married whilst here on a tourist visa, then follow the above advice. Note to open a Thai LTD Company you need the shareholders as you are aware (used to be 7 now it's 2 or 3?) but it's full of potholes. Anyway, I don't see why yuou can't pull this off.

Marry. Move here on O class. Take your time then invest. BUT keep most of your money somewhere else and keep your old bank accounts to prove the $ was yours prior to marriage. I almost forgot to say that if your biz is successful, you should have a separate bank account from your wife. You split the profits, she gets hers and you get yours -- offshore it into your oversees account. Fair is fair, right? Why keep it here in a joint account? Too tempting..

[Paul MBMG]

Why dont you just get a non imm O visa which intitles you to stay in thailand for 15 months? And then think about a business once your here?

That's the best advice so far (haven't read further down yet). But I think he said he's not married yet. So you should get married whilst here on a tourist visa, then follow the above advice. Note to open a Thai LTD Company you need the shareholders as you are aware (used to be 7 now it's 2 or 3?) but it's full of potholes. Anyway, I don't see why yuou can't pull this off.

Marry. Move here on O class. Take your time then invest. BUT keep most of your money somewhere else and keep your old bank accounts to prove the $ was yours prior to marriage. I almost forgot to say that if your biz is successful, you should have a separate bank account from your wife. You split the profits, she gets hers and you get yours -- offshore it into your oversees account. Fair is fair, right? Why keep it here in a joint account? Too tempting..

The general requirement is now 3 shareholders.

Agree that Max shouldn't do anything until he takes professional advice - although (as not yet married) maybe coming in on a non-imm B and then weighing up the options should be considered as preferable to coming in a tourist visa??

Paul