Starting A New /old Thai Company

[BEDBANDIT]

Hi all UK - 38

A friend of mine had a good successful business in Thailand. The Thai company he owned had the option to have up to 4 work permits as I remember.

Recently, his relationship with Thai partner (wife) broke down, and he just sold off all his stock, closed down his shop and the Thai company, and returned back home.

I have only spoke to him since his return , but he has told me I can have his business ,or whets left off it ,

I can have his internet site and customer base , (rent)take over his old shop ,etc

he has told me i can start up his old company for about 30,000B. (Not sure what he means buy this)

I’m not sure where to go from here ... what to do next ?

At the moment I’m in the UK, will be returning to Thailand soon, hoping to start his old business

I know I’m going to need a Visa and a work permit. I have had a work visa and a work permit before (04/05) when I worked at his company, he gave a load of paper work and I went down to Penang and made the visa. (His wife did all the paper work in Thai etc.etc)I know ill will need a Thai partner too.

What are my options here?

How does a start up company get all the paper work needed to apply for a work visa in the UK?

Am I better to start a new company? Or start up his old company? Is it even possible? Do I have to put a load of money into a Thai bank account to get visa / work permit?

Although I have worked in Thailand and had a work permit , it was all done for me , this time I will have to do it myself and I’m not sure where to start

So im seeking your advice and comments

Thanx in advance

[ubonjoe]

To get a B visa in the UK you will need a letter from an existing company.

If your friend has entirely shut down his company. You will have to start a new company which can be a long and expensive process. I suggest your hire a lawyer to help with this.

Your best option will be to get a tourist visa. Then after the company is set up and a work permit applied for you will need to go a nearby consulate and get a single entry B visa. Then after you get the work permit leave again and get a multiple entry B.

The latest rule changes make it almost impossible to get a 1 a year extesnion at immigration until the business has been operating for 2 years.

[Maestro]

You say your friend sold all his stock. This means that somebody else owns them now and you would have to buy a minority holding (maximum 49%) from that person. Better to start a new company with a Thai partner of your choice. Even with a thorough “due diligence” being done on the old company you could probably not have a 100% guarantee that there are still some hidden liabilities.

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Maestro