Secure a Deposit for a small Business with a reasonable Lawyer in Phuket

[MaaTini]

I am new to Phuket, my Girlfriend intents to overtake a small Business there

They are asking a Deposit - I have no Problem with this, but I want to be sure,

to get it back

So my Idea is to settle this Deposit with help of a local Lawyer

Any Recommendations about a Laywer there?

Some Thoughts in General about Deposit for Business and how to secure to get it back?

´Thans for any Help

[DonaldBattles]

You will never get a deposit back from a Thai. As a farang doing a small business based on statistics you are doomed to failure. Think about this.

This is Part of a Poem by Rudyard Kipling.

Now it is not good for the Christian's health to hustle the Asian brown, For the Christian riles, and the Asian smiles and he weareth the Christian down; And the end of the fight is a tombstone white with the name of the late deceased, And the epitaph drear: "A Fool lies here who tried to hustle the East."

How true it was.

Don

[NamKangMan]

Let me guess, it's a salon. :)

[LivinginKata]

2 off topic posts removed.

[LivinginKata]

@ OP

Best of luck finding a 'reasonable' lawyer. Will just cost you more money with no guarantee of getting the deposit back. Just assume you won't get the deposit back and build into your business costs. If you do get it back treat as a bonus.

[Paangjang]

Let me guess, it's a salon.

Your posts crack me up man Although you may have guessed massage parlour or ladies clothes shop...

OP, please enlighten us...

[jollyposty]

DONT DO IT end of.. if you have to ask then you cant afford it

[Old Croc]

Probably a massage parlour. A very competitive business on Phuket. Hard to make money, particularly with the staff problems.

Still, it will keep the little lady happy.

You don't get the deposit back, they consider that to be like a sale, or goodwill, price.

[MaaTini]

thank you sooo much for your answer till now - not helpfull at all

this is quite unusual for thaivisa member post - maybe a bad day?

I will take it this way...

the Biz is a small Guesthouse - and if all of you are so bright,

I will enlight you, with 2 possibel solutions :

the contract is in Thai Language - made between Thais

so why not use a Laywer for secure the Deposit in his Office - including a Contract with the Conditions,

what Need to happen, that some Money from the Deposit could be taken away from the Business Owner

or

a new created bankaccount, where Money could be taken away from this Account ONLY

with the Signature of both - the Depositor and the Business Owner ?

I will listen to you ágain - please enlight me now :-)

and have a better Day than Yesterday

Edited September 5, 2013 by MaaTini

[MaaTini]

@ OP

Best of luck finding a 'reasonable' lawyer. Will just cost you more money with no guarantee of getting the deposit back. Just assume you won't get the deposit back and build into your business costs. If you do get it back treat as a bonus.

thank you very much for your advice - hence, this is quite common, when a foreigner tries to get his deposit back

I had a smaller "Incident" with such a Problem with a Thai - but calling more than 3 Months this Person, his Family and Friends and complaning about -

after all, I got my Money back

[KarenBravo]

Maa tini

You are missing the point.

A deposit is made so that the present owner does not sell to anyone else.

They may get offers to buy from other people, but, they are obliged to turn these people away due to the deposit.

If after paying a deposit, you decide not to buy the business, your deposit is lost as this is considered fair compensation for turning down other buyers.

You do not get your deposit back.

[NamKangMan]

Maa tini

You are missing the point.

A deposit is made so that the present owner does not sell to anyone else.

They may get offers to buy from other people, but, they are obliged to turn these people away due to the deposit.

If after paying a deposit, you decide not to buy the business, your deposit is lost as this is considered fair compensation for turning down other buyers.

You do not get your deposit back.

You are correct KB.

If the deal is successful, the deposit forms part of the purchase price.

If the deal falls through, the deposit is lost.

Pehaps the OP means "bond" - as in, security held against damage to the property, or the failure to pay rent on time.