New Business In Chiang Rai

[brahmburgers]

I'm an American developing 2 venues in Chiang Rai for tourists. Both are rural and small scale, relating to camping and recreation. I'll probably have to get a Thai Corporation in order to secure them in my name (I have already secured the properties). When doing that, I'll probably have to get a 'work permit' - though it will likely force me to change my current visa, which is type O non-imm annual visa. I'd like to maintain my current visa if possible.

I could put the businesses in Thai friend's name (am not married), but there could be problems with that down the road - when that person sees money coming in and realizes the value involved. This morning, am going to see a Thai attorney about this. Any advice is appreciated.

[ATO1994]

You have figured out what you need to do ...

Your attorney should be able give you a sound counsel.

It is always a good practise to have everything in order;

(Non B & WP) this is to ensure you do not have headaches later on.

[Mario2008]

The extension of stay is what is important, if it is based on retirement you will not get a work permit on that one.

[taurus88]

Certainly a Thai coporation is required in your case. Can be 49/51 in favour of a Thai partner/s. You need a work permit period and you can retained the 'O' visa if you wish. You can apply for work permit if you have a legit coporation. You and your partner should have a separate legal contractual agreement on matters like dividends, operation etc. which all Thai lawyers are familiar. I have run my business for 4 years and started in more or less same situation as you.

[Colabamumbai]

I would see more than one attorney.

[brahmburgers]

thanks for the replies.

I met with my attorney, and the news was encouraging, or at least fathomable.

Sure is a lot different than when I was in California. Ok, I know it's like comparing pineapples with hand grenades, but back then, I'd walk in to the County office, pay $17 for a biz permit (yellow piece of paper), and be out of there in 6 minutes.

[jazzbo]

As I remember, a lot of your property was set up as a 'demonstration farm' and you were offering farm-stay vacations to visitors.

You may want to investigate setting up a Foundation under Thai law and donating or 'renting' (as an arms-length transaction) your property to it -- which may in fact give you more control than with a Thai corporation ... with yourself as the MD and paying yourself a salary w/ work permit.

Thai Civil & Commercial Code Section 110:

A foundation consists of property specially apppropriated to public charity, ... education or other purposes for the public benefit and not for sharing profit. and has been

registered under the provisions of this code.

[brahmburgers]

As I remember, a lot of your property was set up as a 'demonstration farm' and you were offering farm-stay vacations to visitors.

You may want to investigate setting up a Foundation under Thai law and donating or 'renting' (as an arms-length transaction) your property to it -- which may in fact give you more control than with a Thai corporation ... with yourself as the MD and paying yourself a salary w/ work permit.

Thai Civil & Commercial Code Section 110:

A foundation consists of property specially apppropriated to public charity, ... education or other purposes for the public benefit and not for sharing profit. and has been

registered under the provisions of this code.

Interesting idea. I'm getting closer to the age where I want to put my mind in neutral, and enable some younger, brighter minds to wrangle with the gordian knots of bureaucracy.