Work In Los

[nicholasmerwood]

Hi All,

I am in my late 20's, married to a Thai, we both live in Australia. We're looking at coming over in the next year or so and assessing work options.

I am a pharmacist by trade - is there any legal reason why I would not be able to purchase pharmacies in Thailand and have Thai pharmacists manage them?

Cheers

[Mario2008]

Look here for some basic legal information: http://www.boi.go.th/index.php?page=index&language=en

You can only own a minority share in a Thai company.

[mjnaus]

Look here for some basic legal information: http://www.boi.go.th/index.php?page=index&language=en

You can only own a minority share in a Thai company.

Not true. If you're a US citizen, you can own 100% due to a treaty between Thailand and the US. And even if you're a non-US citizen, it's still possible to own a majority share. For this you'll need to apply for special privileges, your local DBD office.

[nicholasmerwood]

I can always put 51% under my wife anyway. Does anyone know if you have to be a registered pharmacist in thailand to own a pharmacy or where I could find out? In Australia you have to be a registered pharmacist to own a pharmacy....

Also in the restricted list is:

Retailing, unless not less than 100 million baht capital is invested, or having minimum capital for each shop of not less than 20 million baht

Would a community/retail pharmacy be considered retail?

Edited January 23, 2012 by nicholasmerwood

[Tatsujin]

Not true. If you're a US citizen, you can own 100% due to a treaty between Thailand and the US. And even if you're a non-US citizen, it's still possible to own a majority share. For this you'll need to apply for special privileges, your local DBD office.

How does a foreigner (legally) get to have more than a 49% shareholding?

[impulse]

Before setting your sights on purchasing a pharmacy, I'd suggest walking a block in any direction from anywhere in Thailand. You can't swing a dead cat without hitting a small pharmacy here, and you can't walk more than a few blocks in any developed area before you pass a major chain pharmacy.

Sit outside any of the small pharmacies for a few hours and watch their turnover and ask yourself if you really want to compete with them. And unless you have very deep pockets, you won't be competing in the same genre as Boots and Watson who seem to do more business in skin whitening products than anything pharmaceutical.

Still, thanks for posting the question because the information in response is interesting.

[nicholasmerwood]

Good point - although I was hoping to own a franchise of a chain - ie boots, watsons or similar, if possible. The pharmacy would obviouslly have to be strategically placed - ie meeting needs of an area that is underserviced.

I hate selling things other that medicine - but understand it is necessary to make a profit.

Perhaps the whole country is already oversupplied and it was a terrible idea to start with....althgough one of my (thai) friends own a few pharmacies (Phuket/Songkhla etc) and seems to be doing well. I shall talk to them more about it.

Edited January 24, 2012 by nicholasmerwood

[impulse]

nicholas, I didn't mean to downplay your plan, just to suggest some diligence.

To be honest, given what a "real job" pays for most local people here, it's not surprising that a lot of them choose to be self employed. But what qualifies as a rousing success (making more than I did at my last job) wouldn't pay the apartment rent in Australia (or the US where I'm from).

That said- I'd also contend the street food scene is way too crowded in Bangkok. Yet I know some locals that claim to make 300K baht a month with little street restaurants that fold up into a 3 wheeled motorcycle. I watch their turnover for a few minutes on a busy night and have no doubt they are very successful.

[mjnaus]

Not true. If you're a US citizen, you can own 100% due to a treaty between Thailand and the US. And even if you're a non-US citizen, it's still possible to own a majority share. For this you'll need to apply for special privileges, your local DBD office.

How does a foreigner (legally) get to have more than a 49% shareholding?

Like I mentioned in my earlier post; a majority stake can be obtained when you're an US citizen. If you're not, you can apply for special privileges for your company allowing foreigner shareholders to hold more then 49%. It will cost a bit more then a regular company registration, but it's definitely possible. When registering our company with the local DBD office, they informed us about this possibility and they would help us get all the paperwork in order as well.

[samran]

I'd suggest that this is something you are going to need a lawyer for especially if you are going to be any more than a passive investor. Additionally, you should check the chapter and verse of the Australia Thai free trade agreement which does give some preference to Australian investors. Not strictly on the pharmacy side, but on the service provision side there may be scope.