Starting New Business - Help Needed!

[dansavestheday]

Hi there,

Myself and a friend from the UK are looking to move to Bangkok and start a company specialising in putting on gigs/club nights at venues in BKK.

I have read through lots of info but have a few questions:

1) If we were to form a company and apply for WPs, I understand the company need to be owned 51% Thai - How safe is this? I also see that legal companies can help with providing these shareholders.

2) Does this mean we would need 4 million BHT (although as foreigners we don't need to show this??) and employ 8 thai staff combined? We don't really need staff, apart from occasional student help such as flyering etc. Is there a set wage we have to pay thai staff?

3) As we are starting out - the legalities and costs seem pretty high - obviously to work without this would be illegal but how much of a crackdown is there? I mean if we were to work with a specific club and co-promote the nights we put on and just dealt with that club cash in hand almost, do you think this is a viable option? Can we come in/out of the country?

Appreciate any help people can provide and any recommendations.

Dan

[raro]

1) yes, and it is as safe as your Thai business partners are trustworthy. You have done your due diligence, right?

2) yes and yes. Minimum salary would be about 6,500 Baht per staff.

3) that would be illegal, indeed. If you want to work here, you need a work permit.

[JohnC]

You would be competing with Thai promoters who would make things difficult and make sure their "friends" checked all your permits etc.

[scorecard]

You would be competing with Thai promoters who would make things difficult and make sure their "friends" checked all your permits etc.

My comments would be:

- Have you done a serious evaluation of the potential market for the services your contemplating? And have you seriously calculated the fees you would need to charge to cover your costs and walk away with a healthy bottom line margin? (Have you done a serious costing?)

- Are you assuming there is a big and regular market for these services 'UK' style? Or, to put it another way, are you assuming that large numbers of Thai people would want to attend an event / gig run in typical UK style? Personaly I would doubt that to be true?

- Are you aiming at western expats / tourists? Is this in fact a big and regular market, have you checked?

- If you are aiming for the event or gig to have total Thai apearance, in every way, who will design everything?

- Have you ever lived in Thailand long-term, and are you aware of the typical features / the apearance of a Thai style event/gig?

- Do you have a clear picture of the typical working behaviors and attitudes of Thais who are involved in this Industry in Thailand? Therefore the adjustments you will have to make to the way you might typically work in the UK?

Edited February 14, 2010 by scorecard

[dansavestheday]

Raro - Not yet, still very early days. Can you expand anymore on how it can be safe for thai's to own more than 50% of YOUR company? How does it work?

JohnC - Understood and true. However I feel the type of gigs we want to put on don't have much competition but yes they could do further down the line. Am I right in saying foreigners can do this type of work? It is not listed on the foreigners can't do list - is it?

Scorecard - We have looked at similar previous events and ones in neighbouring countries also. Although it wouldn't be the same as in the UK, I have experience of this work in the UK and looking at how a couple of other similar previous events went in BKK, feel this could take off. We would be catering to a mixed market - thais, holidaymakers and expats. As i'm sure you are aware UK and American bands/artists are a high commodity.

Thanks for the help so far. If anyone can assist further - especially on costs of forming the company/how much money you need to show in your acct/whether it is worhtwhile working with a company like Sunbelt/Siam Legal.

[jaapfries]

Raro - Not yet, still very early days. Can you expand anymore on how it can be safe for thai's to own more than 50% of YOUR company? How does it work?

JohnC - Understood and true. However I feel the type of gigs we want to put on don't have much competition but yes they could do further down the line. Am I right in saying foreigners can do this type of work? It is not listed on the foreigners can't do list - is it?

Scorecard - We have looked at similar previous events and ones in neighbouring countries also. Although it wouldn't be the same as in the UK, I have experience of this work in the UK and looking at how a couple of other similar previous events went in BKK, feel this could take off. We would be catering to a mixed market - thais, holidaymakers and expats. As i'm sure you are aware UK and American bands/artists are a high commodity.

Thanks for the help so far. If anyone can assist further - especially on costs of forming the company/how much money you need to show in your acct/whether it is worhtwhile working with a company like Sunbelt/Siam Legal.

Stay away from Sunbelt/Siam Legal.

"Paid-Up Capital" - this does not mean that you have to actually 'show'these funds.

With regards to "employees" who are legally required: don't worry about this either; all you need is to PM me and I will explain the best way to put this together at minimal cost.

Cheers,

JGK/Pattaya

(18 years in Thailand)