Starting business abroad

[Will Lawes]

Wantng to buy a business, ie small coffee shop, thai partner will be putting up capital. Things to be weary of? I know they are thinking of it as a way out of thailand should the need arise, but none the less, if they want to buy the business in my name, share profits, well...

advice?

[Indo-Siam]

Are you talking about a shop inside Thailand?  If so, your situation sounds very strange - I cannot imagine any legitimate reason why Thais would want a farang to be the "front" for a Thai business.  'Maybe to say "Foreign Owned", to attract foreign visitors?

Sinister reasons woulds be to launder money, or to not pay in capital, ring up large debts, and then default - leaving you to have to pay-in the capital that was registered in your name, to meet creditor demands.  But - a coffe shop does not sound like a good intrument for either subtrefuge.

If shop is outside Thailand - probably no harm, but it might end up costing you your friendship!

Steve

Indo-Siam