Medical Condition

[philipcooper]

I am currently going my last operation one my eye, this is my fifth one. I had a accident 5 yrs ago in work. I lost nearly all my sight in my eye. After this next operation my eye should be pain free and comfortable. There is a chance it could develope problems in future but could all be good. I have got £250,000 and want to move to Thailand. Before I go wasting my time finding out everything is my situation going to stop me having a chance of emigrating ?

Thankyou

[londonthai]

if you are 50 or over you can get a retirement visa. If younger than marriage, employment or self employement.

£250k is enough to open some small enterprice and buy property

[philipcooper]

if you are 50 or over you can get a retirement visa. If younger than marriage, employment or self employement.

£250k is enough to open some small enterprice and buy property

Been looking at buying a guest house. I got told when I was in Thailand though and I dont know if it is true that you can not work in hotel or bar that you buy and you have to get thai people to work in it. Is this true ?

[sriracha john]

It depends on your age, but 12,715,528 Baht would provide for 15 years of living on over 800,000 baht per year.

If the the majority of that was placed in safe investment in the West drawing interest over that time, it would easily last much much longer.

The benefit of going that route would be no need for company formation or property purchasing or working... just easy and care-free living for a long long time.

[philipcooper]

es true but I really need to look at the rest of my life to be safe. So would need to still generate income which is why I was looking at a buisness.

[sriracha john]

es true but I really need to look at the rest of my life to be safe. So would need to still generate income which is why I was looking at a buisness.

Fair enough. Obviously you're of an age where 20 to 30 years of non-work-living would be insufficient.

Good luck to you, then...and I'd just say to be very careful. Thailand has a number of pitfalls trying to make a go of it in business in order separate you from your nest egg. It'd be a shame not to get even the aforementioned time span, let alone longer, out of it.

Edited February 19, 2009 by sriracha john

[philipcooper]

Thanks. I have to read alot and find out first if its true that I can own the buisness but thai's have to work in it.

[ubonjoe]

You have lots of options with the amount of money you have. Your medical condition will not hinder your plans to get a visa or extension of stay,

Since you used the pound as the currency for your savings I assume you are from the UK.

You could get a multiple entry non-o visa to visit friends from the Thai consulate in Hull that would give you a total of 15 months doing border runs every 90 days to start with. That would give you time to decide what long term options are best for you.

You could also come to Thailand and study Thai lanquage and get an ED visa and then an extension every 90 days without leaving the country. You could even make arrangements to get the ED visa before leaving home. Check some of the websites for the schools that sponsor this forum for more information.

Speaking and understanding Thai would be a big help if you want to start a company and stay here long term.

[jamesjdaly]

Be VERY careful in Thailand with your hard earned life savings.. If it sounds too good to be true, I won't say it probably is.........I will say it IS!!

[Soutpeel]

if you are 50 or over you can get a retirement visa. If younger than marriage, employment or self employement.

£250k is enough to open some small enterprice and buy property

Been looking at buying a guest house. I got told when I was in Thailand though and I dont know if it is true that you can not work in hotel or bar that you buy and you have to get thai people to work in it. Is this true ?

Unless you can get approved for a work permit you are not permitted to work in your own guesthouse...also would guess the ownership of the guest house will be on a 49/51% in favour of a Thai national with you hold the 49%

My advice until you know the rules of game in Thailand (ie company ownership, Work permits etc) just dont jump in with your cash....you may end up regretting it...

My advice...come and spend a year here first on holiday before committing to anything in Thailand...

Also you mention emigrating to Thailand, you know you cant really emigrate here I hope you know ??...unless you get PR or citizenship, you will always be a "long term tourist", irrespective of the money invested, or getting married to a Thai national etc etc..

[samuibeachcomber]

all good advice.

my advice would be(apart from coming here for a year to check things out)keep money out of thailand except what you need for immigration requirements.do not build house or buy land cos you will never really own it.If you want to invest invest in upmarket condominiums.

trust no one especially long term farang residents,business scams abound here.the only downside(for all of us,is how much can you trust western banks/financial institutions with your money anyway)

much more could be said re advice but you are better finding out first hand.but dont delay,life's too short.

[astral]

I think the OP has a lot of reading to do before he should venture his money in Thailand..............

[philipcooper]

if you are 50 or over you can get a retirement visa. If younger than marriage, employment or self employement.

£250k is enough to open some small enterprice and buy property

Been looking at buying a guest house. I got told when I was in Thailand though and I dont know if it is true that you can not work in hotel or bar that you buy and you have to get thai people to work in it. Is this true ?

Unless you can get approved for a work permit you are not permitted to work in your own guesthouse...also would guess the ownership of the guest house will be on a 49/51% in favour of a Thai national with you hold the 49%

My advice until you know the rules of game in Thailand (ie company ownership, Work permits etc) just dont jump in with your cash....you may end up regretting it...

My advice...come and spend a year here first on holiday before committing to anything in Thailand...

Also you mention emigrating to Thailand, you know you cant really emigrate here I hope you know ??...unless you get PR or citizenship, you will always be a "long term tourist", irrespective of the money invested, or getting married to a Thai national etc etc..

Would I no be able to have full ownership for any business if I am willing to pay the full amount myself ?

[Maestro]

Off-topic posts and replies to them have been deleted.

--

Maestro

[Soutpeel]

Would I no be able to have full ownership for any business if I am willing to pay the full amount myself ?

In your circumstances no....A Ltd company will always be set up on 49/51% shareholding in favour of Thai shareholder, there are exceptions to this....ie BOI companies and Amity agreement companies, but in your case you would be under a normal limited company in Thailand.

Obviously under the 49/51% shareholding there are ways in which the 49% shareholder (you, the farang) would maintain control of the company, but the fact remains, even putting 100% of the money into the business, you still technically can hold only 49% ownership of the company.

Again will give you the advice - Spend at least a year in Thailand learning about how things operate here before sinking any money into a business..

[stevenl]

es true but I really need to look at the rest of my life to be safe. So would need to still generate income which is why I was looking at a buisness.

Most of the businesses, especially started by foreigners, fail miserably within a short period of time, and a lot of money will have gone by then.

Invest your money and get a steady income out of that, and you will be able to live from your money for the rest of your life. Start a business, and chances are within a couple of years you'll be broke.