Lease Soi Eric

[ChangNoi75]

Hello

I was offered taking over a lease in a bar in soi eric. The owner told me i dont need a company. Just put lease in my name and booze licence in thai friends name. No accounting, no taxes no nothing expect monthly rent and key money for remaining contract.

Sounds strange to me but TIT so i thought it was worth asking you guys.

Anyone here experience with soi eric lease?

[stacker10]

I hade bars and restaurants here in Thailand and this is they way it works.My girfriend whent once a year to settle the tax at the the tax office.This i nothing specific for soi eric,its the same everywere.If its the best way or even by the book legal is a other story but this is how its done if you dont want company.

[ChangNoi75]

Thank you for the reply.

If its a grey zone, then what kinda trouble could i face if they decide to crack down on it or something

[stacker10]

from the bottom of my heart I wish u luck and i say this,DONT buy a bar or a restaurant or a guesthouse.its to many and if u do the numbers for the rent,keymoney,police,bartender and all this shit.the biggest problem i had was to find girls.always have to look for new ones because they leave.if u dont have some one that can run the girls for u,even bigger reason not to do it.U do the numbers so what u are doing is buying yourself a job.But if u dont do it only for money,go for it,but as a businessidea?no way.just my humbel opinion,what do i know?good luck

[tombkk]

Thank you for the reply.

If its a grey zone, then what kinda trouble could i face if they decide to crack down on it or something

If you don't have a company, you won't get a work permit. So you will get a problem the moment you work there.

No accounting / no taxes: Will cause you major fines as a business owner - unless you are willing to pay bribes, which is not a good way to base a business on, or your personal future for that matter. I hope the money it costs you to buy the business is only part of the amount you can easily lose without jeopardizing your retirement fund. Expect to lose it, and some more when starting to run the place.

If you go for it without having the documents in order, I would think there is likely some jail time in it for you, but you'd better check with a lawyer. If you are found out, best-case scenario is being deported.

Unless you are well connected in the underworld, I would recommend against buying bar. Be it in Soi Eric or anywhere else in in the night-life industry (not restricted to Thailand).

It's your choice, though.

[ChangNoi75]

Thanks for the feedback. I appreciate it.

I have made up my mind. For now anyways

To marginal

To many grey zones

To high possibility for lady-drama

I shall look elsewhere. Thanks again and have a great one!

[Patong Bob]

The only person who has ever made money from Soi Eric is Eric himself. He knows Thai property laws backward and will foreclose without notice if the lessee even unknowingly breaches an obscure one.

Keep well away.

[raro]

Thanks for the feedback. I appreciate it.

I have made up my mind. For now anyways

To marginal

To many grey zones

To high possibility for lady-drama

I shall look elsewhere. Thanks again and have a great one!

congratulations!