Buying an existing business in thailand

[Bamboo Grove]

Some advice, hopefully useful

1. You don't need a non-immigrant visa to become a business owner as you can only own 49 % of any business, the rest must be Thai shareholders

2. Form a company with the help of a lawyer. It will cost you about 20.000 baht, but it's worth it. Don't put anything on anybody else's name thinking you can trust them forever. Lawyers have ready made contract papers for changing shareholders if this becomes necessary. You should insist on getting them. These papers have the names of individual shareholders and they agree to give up their shares. They have already signed the papers and all that you will have to do is to put a date there and find new shareholders if necessary. I repeat, use a lawyer.

Having a company doesn't mean, you'll get work permit but it may help you to get a non-immigrant visa. Discuss the different options with the lawyer.

Having a company is useful also, if you later decide to buy any property. You can buy property for your company i.e land, house etc.

If you plan to buy an existing business, be sure you know what you're getting. If it's a bar, spend some time observing if it does good business, the price should depend on that. Make sure what is included in the price and what isn't. If it's a bar, try to find out if the customers are personal friends of the excisting owner, they may then move out together with him/her.

Well, hopefully this will give you some assistance. Just remember these two things, use a lawyer and don't rush into things. Good luck.