How To Set Up My Business?

[olirudd1]

I have recently been thinking of setting up a business in thailand but unsure how to set everything up. I have a gf in thailand and was thinking about opening a hair salon, but still have to look into this alot more first. I wanted my gf to learn about hair so that she could work there, would it be best to set the business up as a company or is it possible to have the business in mine and her name only? if so, i would have 49% and she would have 51%? or....

Would it be best to rent a hair salon with all equipment inside? or start from scratch...rent a shop and add all equipment etc?.

How do i find the best location for the shop? im guessing just search for busy roads or a busy soi?

i know i still have a lot to think about and a lot more imformation to get, will be very gratefull for some advice and info

thanks

[SunbeltAsiaExpert]

From the nature of your questions it seems like it may be a better idea to first rent a salon rather than buy one considering this is a venture new to both you and your girlfriend. Renting the building and equipment can be put in your name. That said, it is a decision that you will have to make based upon factors such as your commitment to the business, your finances, the level of risk you like to take when investing your money, your commitment to staying/owning a business in Thailand, and your commitment to your Thai girlfriend (and vice-versa). At a minimum you should work with a business adviser when looking at properties for rent/sale as they will know an area's likelihood for maximizing your chances for business success. If buying an existing salon should interest you, you may check out our website at http://www.sunbeltasia.com for a list of businesses for sale.

Now let's discuss some information on forming a Thai limited company.

Registering a Thai Limited Company for a Foreigner

On a registered limited company, if you are involved in import/export, manufacturing or hotel management then you could simply use common shares as you can own a majority of the shares and control the corporation as a foreigner. Also if you are an American citizen, you could apply under the treaty of amity and own the company 100%. Amity, does also carry some additional fees and may not be suitable for all types of business/situations. It would however be suitable for a hair salon. Other ways as a foreigner you can have control( not necessary a hair salon but other sectors) is by BOI, Alien Business License.

With a Thai limited company that does not fall into the categories above:

If you will trade within Thailand then this is a limited company that is required to have at a minimum 50.1% ownership by Thais. Your advisor will recomend various ways to help protect your investment such as you being the Managing Director, diffrent classes of shares, etc.

Out of the 3 promoters, only one has to be Thai. The other 2 can be of any nationality. You can have 49,998 out of a 100,000 shares. The other foreigner has 1 share and the Thai shareholder has 50,001 Shares.

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