Is My Friend Wasting His Time?

[Mr_Pedantic]

I have been asked by a friend if it would be possible for him and his female farang partner to move to Thailand with £100k at his disposal. Buy a club or business of sorts, buy or build a house and live in Thailand, while his business at home is paying over £1k into his bank every week.

I have offered him every possible solution I know but am not up on the current legal status with regard being a club owner, buying land, if at all possible for a Uk couple without a Thai connection.

I've searched other posts for hours and not found anything with all the elements included.

The information I have offered him at present is to leave the money in the Uk until he has decided. Rent an apartment and spend 6 months looking around first. But there is no point in doing this if he can never own his own club or purchase land to build a house or even buy a ready made property.

His ultimate destination would be Pattaya. As it is a small town and has all amenities.

[Thaiquila]

I am guessing there would be a way for such a couple, depending on their priorities. You weren't clear on defining exactly what they want. For example, do they need to work in Thailand, or are they just looking for a way to legally stay. That weekly cash flow is very ample for living in Thailand.

They could possibly get two investment visas, one for a new condo at over 3 million baht, and another parked in Thai bonds, and live on the UK income. Can a married farang couple both stay on ONE investment visa? If so, then one investment visa.

[udon]

Mr P.

Your advice was sound but I'd look around for a year, not 6 months.

1000 squid a month...... I wish!

[Mr_Pedantic]

I am guessing there would be a way for such a couple, depending on their priorities. You weren't clear on defining exactly what they want.  For example, do they need to work in Thailand, or are they just looking for a way to legally stay. That weekly cash flow is very ample for living in Thailand.

They could possibly get two investment visas, one for a new condo at over 3 million baht, and another parked in Thai bonds, and live on the UK income. Can a married farang couple both stay on ONE investment visa? If so, then one investment visa.

<{POST_SNAPBACK}>

Thanks I've never heard of an investment visa. I'll look into it.

He wants to 'work' without doing too much work, although he is a builder by trade.

Doesn't feel he could sit around all day doing nothing. I guess you need to learn how to do that.

[Thaiquila]

What are the ages of this couple?

If one is over 50, retirement visa an easy option.

[Mr_Pedantic]

They are both 40 ish owned their own business in South Africa and now UK and are quite comfortable financially but don't want to blow their savings on an over priced UK house.

[Thaiquila]

So not 50 yet.

Off topic, but why Thailand?

This couple with those resources have a much wider choice of possible countries to move to, also offering an escape from overpriced first world real estate.

For examples,

Mexico in Cuernavaca or Puerto Vallarta, for examples

I think they enough money for a visa there.

Malta

Also offers attractive visa and real estate options

Argentina (I have heard lots of people own apartments and just take a short trip to Uruguay every six months to get another passport stamp

There are probably a lot more ... though unfortunately Brazil would probably be hard, they need the money to be from pensions for retirement visa.

[Harmonica]

So not 50 yet.

Off topic, but why Thailand?

This couple with those resources have a much wider choice of possible countries to move to, also offering an escape from overpriced first world real estate.

For examples,

Mexico in Cuernavaca or Puerto Vallarta, for examples

I think they enough money for a visa there.

Malta

Also offers attractive visa and real estate options

Argentina (I have heard lots of people own apartments and just take a short trip to Uruguay every six months to get another passport stamp

There are probably a lot more ... though unfortunately Brazil would probably be hard, they need the money to be from pensions for retirement visa.

>>>>>>> Off topic, but why Thailand? <<<<<<<<<

That's easy. Here's my opinion based on expat-ing there.

Scale of 1-10:

Thailand ........ 10

Mexico

Oaxaca ........ 6

Cuernavaca ........ 2

Puerto Vallarta ......... 3

Guadalajara ........ 3

South & Central A.

Brazil ........ 4

Guatemala ....... 5

Bolivia ...... 5

Ecuador ....... 5

Argentina ....... 1

LOS is where its at.

[Mr_Pedantic]

I agree, they have been looking for a while weighing up the odds. They see what I have in Thailand and want that, and a whole lot more.

[PeaceBlondie]

If Guatemala gets a rating of 5, shouldn't Costa Rica get an 8 or a 9?

Since Puerto Vallarta is on the coast, foreigners can't own land there (unless they've amended the Mexican Constitution since 2001).

That's a thousand quid per WEEK! They have countless choices, and if I had that kind of cash, I don't think I'd stay in Thailand.

[Thaiquila]

If Guatemala gets a rating of 5, shouldn't Costa Rica get an 8 or a 9?

Since Puerto Vallarta is on the coast, foreigners can't own land there (unless they've amended the Mexican Constitution since 2001).

That's a thousand quid per WEEK!  They have countless choices, and if I had that kind of cash, I don't think I'd stay in Thailand.

<{POST_SNAPBACK}>

There is a commonly used legal machination that allows foreigners to buy coastal properties in Mexico. There is a yearly fee, people have been using it for years, and it is safe.

I like Thailand too, however, it also occurred to me a couple with these resources have more choices than average. Heck, they could afford to live in the Positano Coast in Italy, which most people would considerable a tad more glamorous than Pattaya. Up to them!

[bkk_mike]

Everyone here seems to be forgetting that Thailand is a pretty good tax haven for people who have offshore income that you're not taking into the country (at least, not taking into the country in the same calendar year that you earn it...)

It's relatively safe, especially compared to places like the Phillipines, and with a low cost of living. (especially compared to the UK).

If he wants to buy a house, there are the obvious problems of not being allowed to own the land, so having to get a company set up to buy the house, and then rent it from the company. - Which is why he might be better buying a condo.

Main question is. If he works in the building industry, has obviously made money in that industry in two different countries already - why does he want to run a club? Why are there so many farangs who want to come to Thailand to run a club? It's never struck me as a particularly profitable business as you're competing head-on with Thais who don't have the same property ownership issues, and think they're earning a good income on 25K baht a month...

Since he does know the building industry - why not buy a bit of land (through a company - 49% ownership, etc), build a couple of houses, live in one and sell the other... SA would have similar issues with termites, so he'd be well aware of building with concrete, and could build his dream house, and if he's on-site, can check it's built to a decent standard - and by choosing who to sell to, he can even pick his neighbours... When the other house is sold, he can use the money to repeat the process for as long as he wants to work...

There will be the hassle of paying rent to his company for the house - and paying tax on that rent, but if he wants a house - that's what you have to do in Thailand...

Edited March 14, 2005 by bkk_mike

[Maka]

Yes they can own a business and land here in LOS. They might be best off w/ a corporation to do it.

A qick letter to Sunbelt Asia, advertized on this page, can get you the professional info you need at no cost. Then your friends can follow up w/ them either from there by E Mail or when they get here.

I have not yet done business with them yet in a formal paying sense of the word, but Glen there has been most helpfull thru E Mail with what is possible and what is required.

I agree with your six mos. check it out time frame, maybe longer.

[mbkudu]

Maybe HE wants to live in Pataya . Poor girl, does she know what is going to happen?

[pluto_manibo]

Belize in central America...is very interesting....2hrs from houston or Miami by plane....great islands...Ambergris Caye....part of British commonwealth..(ex British Honduras) Great tax breaks ....English speaking.......Amazing potential....

[udon]

Belize in central America...is very interesting....2hrs from houston or Miami by plane....great islands...Ambergris Caye....part of British commonwealth..(ex British Honduras) Great tax breaks ....English speaking.......Amazing potential....

<{POST_SNAPBACK}>

G'day Pluto, et al,

is Costa Rica on a par with Belize or better?

Thanks.

[davethailand]

After a nice house, 100k won't get him much of a business.

[Harmonica]

If Guatemala gets a rating of 5, shouldn't Costa Rica get an 8 or a 9?

Since Puerto Vallarta is on the coast, foreigners can't own land there (unless they've amended the Mexican Constitution since 2001).

That's a thousand quid per WEEK!  They have countless choices, and if I had that kind of cash, I don't think I'd stay in Thailand.

Costa Rica = 5 IMHO. Very different setting from Guatemala and far more advanced w.r.t. services etc. -- but the tranquility of Guate locations like Quetzaltenango, Lake Atitlan etc. is what gives it the nod -- for me anyway.

But still nothing compared to LOS overall!

[Harmonica]

Belize in central America...is very interesting....2hrs from houston or Miami by plane....great islands...Ambergris Caye....part of British commonwealth..(ex British Honduras) Great tax breaks ....English speaking.......Amazing potential....

G'day Pluto, et al,

is Costa Rica on a par with Belize or better?

Thanks.

Belize is pretty; and expensive. Direct comparison with Phuket is reasonable -- Phuket floors it in a heartbeat for overall long-term living.

I'd put Belize in the same "5" slot as Costa Rica with the nod going to Costa Rica for LT living.

[Harmonica]

Belize in central America...is very interesting....2hrs from houston or Miami by plane....great islands...Ambergris Caye....part of British commonwealth..(ex British Honduras) Great tax breaks ....English speaking.......Amazing potential....

G'day Pluto, et al,

is Costa Rica on a par with Belize or better?

Thanks.

Have you been to Goa, Udon?

[Crushdepth]

If anyone can think of a business that gives a 50% annual return...please let me know

Edited March 18, 2005 by Crushdepth

[udon]

Belize in central America...is very interesting....2hrs from houston or Miami by plane....great islands...Ambergris Caye....part of British commonwealth..(ex British Honduras) Great tax breaks ....English speaking.......Amazing potential....

<{POST_SNAPBACK}>

G'day Pluto, et al,

is Costa Rica on a par with Belize or better?

Thanks.

<{POST_SNAPBACK}>

Have you been to Goa, Udon?

<{POST_SNAPBACK}>

No mate, only Bombay to pick up a load of Vee.

An Ozmate is enamoured with the south of Ceylon where the biggy hit at the famous cricket pitch, he reckons its better than Samui and he is a LT expat in LoS.

Tell us about Goa.

Edited March 18, 2005 by udon

[demiurge]

Interesting conversation. I am considering early retirement next year and starting to research locations for LT. I am 45 and will spend the first 5 years mostly traveling/treking. I have about $2,500-3,000 month income from investments to live on. My parents finally retired this year and decided on Puerto Vallarta. They purchased a beautiful place right on the beach about 20km from PV. here is URL http://www.punta-esmeralda.com/casas_ing.htm. They are moving in this summer. They purchased a unit for about 350K before it was built and new units are 450k a year later, so they are quite happy with their decision. I have been to PV 3 or 4 times before and will be exploring that area further. The prices for everything (except housing, medical care, maid service, etc.) is about the same as in the US. The weather is nice 8 months of the year and very hot the other 4. Scuba diving is only fair. The mountains and jungle around the area are interesting and worth exploring. There is a growing expat community. High speed internet is readily available and flights are non-stop and cheap from the US.

Costa Rica is also very nice and an option I am considering. The cost is similar to Mexico. A small country but amazingly diverse geographically. There are pockets of expats in certain areas of the country.

I have never been to SE Asia and Thailand but have always been curious about the area. A good friend of mine retired 4 years ago and is spending his time traveling/treking. He spends 6 months of the year in S.E. Asia, China, and further West. I have talked extensively with him about his experiences and he has a favorable impression of Thailand. This is what got me started on researching Thailand and the surrounding area. Thaivisa has been an excellent source of info. I think Thailand is looking very promissing and I will be trying to arrange a visit soon.

[Harmonica]

Belize in central America...is very interesting....2hrs from houston or Miami by plane....great islands...Ambergris Caye....part of British commonwealth..(ex British Honduras) Great tax breaks ....English speaking.......Amazing potential....

G'day Pluto, et al,

is Costa Rica on a par with Belize or better?

Thanks.

Have you been to Goa, Udon?

No mate, only Bombay to pick up a load of Vee.

An Ozmate is enamoured with the south of Ceylon where the biggy hit at the famous cricket pitch, he reckons its better than Samui and he is a LT expat in LoS.

Tell us about Goa.

About 400 Km. south of Bombay, on the coast, very similar to Phuket, maybe a tad more exp., similarly beautiful & numerous beaches, real estate cheaper than Phuket, women good, but nod goes to LOS; accommodation plentiful and easy to find -- 5* hotels more expensive than LOS.

Food? Thai & Indian .... both the best of the best.

Booze? All freely available, but Caju Feni is unsurpassed; mixed with the soft drink, Limca -- heaven .

Big advantage: English WIDELY spoken and ALL contracts are .... ditto.

Crime: Not sure about the current sit. compared to LOS but seemed to be equally non-existent.

Expats: besides the usual stuff have the option of getting real high on Charus, Opium, Bombay Black, Afghani mustafa etc. Dens everywhere.

Phuket = 10 ...... Goa = 9

A reasonably viable alternative to LOS if one had to leave the kingdom for whatever reason ....