Simple Question

[Rog]

Hey all!

I've spent the last 2 hours scouting this forum for answers to my questions but this forum is huge and I am having a hard time finding answers to my questions. Anyways... I am since 6 years married to a Thai citizen, we are currently both living and working in Sweden. We have talked some about buying a hotel/hostel in Thailand in a few years when we have saved up some money (most likely on Koh-Samui since we used to live there and have our friends there) but I don't know much about running a buissiness in Thailand. I used to have a bar a long time ago in Phuket but it wasn't very serius and not legal so I didnt learn much from that experience.

My simple questions:

As I understand it one have to have one or two million bath to set up a serius buissiness, is this money that is only for "show" and once you have showed that you have that amount can you then use the money to buy property and/or invest or do you have to keep that much money in the bank for a long time just to be able to show that you have them?

Would I get very far with about 2.5mill bath? Is it enough to set up a company, get a car and a small hostel/hotel (in general)?

Are there still rules that say that ones company have to be owned by a thai? I love my wife very much and I do trust her but we all know that things can happen. Is there a way to set up a company so that I know that I will still own 50% of it even if we brake up and she goes berzerk? (I saw alot of old druken falangs during the time i lived in Thailand that lost everything they had when their marriage didn't work out). I´d also like to add that we will both put in just as much money into this project so I do not want to be the only owner, but 50% if possible in some way.

Thanks, and I hope ya'll understand my poor English

[Sunbelt Asia]

As I understand it one have to have one or two million bath to set up a serius buissiness, is this money that is only for "show" and once you have showed that you have that amount can you then use the money to buy property and/or invest or do you have to keep that much money in the bank for a long time just to be able to show that you have them?

This is register capital and does not have to be paid up capital with cash. If you did pay up the capital with cash you can use these funds for investment, expenses or directors loan whenever you like.

Would I get very far with about 2.5mill bath? Is it enough to set up a company, get a car and a small hostel/hotel (in general)?

Sorry but the answer is no. You simply need to save more money for your dream. Odds are good, you have worked hard to obtain this amount and its a lot of money to you. But,if you are talking of a hotel/guesthouse and car, you'll need 5 million Baht minimum and this would be very risky with such a low sum.

Are there still rules that say that ones company have to be owned by a thai?

no

In fact with the business objective" hotel mgmt" you can own the business as a foreigner 100%

But with some businesses you can only own as a foreigner 49.999% You however can have the majority of voting rights so you control the business as a MD.

I love my wife very much and I do trust her but we all know that things can happen.

Even though you and your wife love each other. You both are human and can die. This is why you need bells and whistles if you are the minor shareholder to protect yourself.

www.lawyer.th.com