Buying A Business In Bangkok

[Totoro]

Greetings

I am currently selling my flat in London and I intend to move to Thailand within the next 4 months. I would like to buy a business and live off the income that this generates, my budget is approximately $50,000+ USD. I would appreciate some advice if possible.

What’s the best way to obtain a Non-Immigrant visa and work permit, will I be able to come out on a tourist visa and apply for these while I am there or do I need to apply for these before I move out? What criteria will I need to satisfy considering I am under 30 and from the UK?

What’s the best way for me to purchase a business with no risk of inheriting bad debits, law suits ect. Is there anyway I can have majority control over the company?

I am thinking of getting an Internet Cafe, would it be realistic to expect a decent income from this, are there too many in Bangkok as it is? If I wanted to run two businesses’ such as an Internet Cafe and a Restaurant could do this from the umbrella of a single company?

Does anyone have any advice on any other types of business that would be successful in Bangkok in the current economic/political environment, it seems that it would be very risky to get involved with running a business such as a bar at this point in time.

Thanks in advance

Totoro

[dr_Pat_Pong]

Seek information on businesses for sale from Sunbelt Asia ( a sponsor of the forum ) They are a reliable agency with good experience and they tell it as it is. When you are ready apply for a Non-Immigrant business visa at the Thai Consulates such as Hull or Birmingham...you can do it by mail. Don't go to the Embassy in London. London is altogether too tough. There are links to Sunbelt on the opening page of Thaivisa. Good luck

[Up2U]

You don't seem to have much money. That is not an absolute block on prosperity, but it does mean that you will have to do a lot of hands-on work to get anywhere.

Internet cafe will not generate much income. It is enough for a Thai girl or similar to be able to feed and clothe the one person. can you live like that?

Restaurant, if you are a good chef, and get a location where there is a good expat clientele, is possible. But you would start with small premises and not on the main drag - 'cos you ain't got the moolah.

Come out and work for someone else for a few months, manager of a bar or similar. Learn a fair amount of Thai so that you can communicate with your potential custommers when you branch out on your own.

You have many years ahead of you, so do it all now - if the whole thing goes pear-shaped, you have time enough to put things to rights again.

I have made (and lost) three fairly reasonable fortunes. Now working, heading for the three-score-and-ten, trying for the fourth time - hopefully the last!

[Totoro]

Thanks for the information and advice

Moving out first and getting experience does seem like a wise move, although from what I understand working doesn't generally pay well there. I can see myself eating into my limited capital very quickly...

Up2u it seems that you have extensive business experience in Thailand, what other feasible business ideas can I look into, I suppose that I want to buy something that I can improve on and expand.

[Sunbelt Asia]

I am currently selling my flat in London and I intend to move to Thailand within the next 4 months. I would like to buy a business and live off the income that this generates, my budget is approximately $50,000+ USD. I would appreciate some advice if possible.

As a rule of thumb and it’s just that. But on average, the norm for an acquisition is 2.5 times earnings which in this case would be around $20,000 or 800,000 Baht. Can you live off 66,000 Baht per month? Now keep in mind, this means the business is maintained the same way. Most businesses will soar to greater heights or go stagnant or even worse. Depends all on the management! Take two houses acquired in a neighborhood, in a year; they will have the same value if they were the same size and look. If you take two restaurants, odds are very high; they both won’t be worth the same in a year. It’s because a business has humans…how you manage the staff and treat the customers. Also depends how you manage your nightlife with drinking as well! Be prepared to lose the funds but if you can handle that... you may want to go for it. Acquiring an existing business has a much higher success rate but still does not guarantee you'll do well. Its because of that old thing called management. Be sure to have training by the seller, at least two week or even a month.

What’s the best way to obtain a Non-Immigrant visa and work permit, will I be able to come out on a tourist visa and apply for these while I am there or do I need to apply for these before I move out? What criteria will I need to satisfy considering I am under 30 and from the UK?

We can help you if needed. It's better to get the visa now.

What’s the best way for me to purchase a business with no risk of inheriting bad debits, law suits ect.

Good question. Its with a asset purchase agreement where you acquire the furniture, fixtures, equipment, non-compete, trade-name, and goodwill and put those assets into your OWN corporation. This way, you would have zero liabilities from the prior owner. A share purchase would not be a good avenue if you are very much concerned about prior liabilities.

Is there anyway I can have majority control over the company?

Yes with voting rights and being the sole managing director to bind the company.

I am thinking of getting an Internet Cafe, would it be realistic to expect a decent income from this, are there too many in Bangkok as it is?

Cafes around Universities and tourists areas do ok. Important to have Smart cards installed to monitor the usage.

If I wanted to run two businesses’ such as an Internet Cafe and a Restaurant could do this from the umbrella of a single company?

Yes, but I personally wouldn’t recommend it.

Does anyone have any advice on any other types of business that would be successful in Bangkok in the current economic/political environment

Export, Mfg and service.

Looking forward to meeting you in BKK.

www.sunbeltasia.com

[et33.com]

take it from an old fart

don't go into any business

the you know nothing about

and is new to you

go find some work

learn your thai

and then see about buying a business

be careful and take care

good luck...

[wcr]

how is he supposed to live?

[Guest timbee]

the unrealistic expectations of some people are phenomenal! anyone who needs to ask such questions as this could never even for a magic moment stay in business. think about yield, man! you seem to think coming out to asia you can purchase ought for nought, and then still manage to live like a squire ... think again! ... the people here will skin your virgin ass alive!

sorry, no offense, but someone needs to grab you by the shoulders and shake some sense into you before it's too late.

[randyksf]

Few questions for the original poster.

1) What profession are you in now?

2) What is back-round?

3) Can you afford to lose all of it 50k then start over back home?

4) Have you been to to Thailand before.

5) Is this Geeit?

Come here for 3 months and find out how life is really here. This should cost you about 120k Baht or less. Then come back and ask questions make contacts. Better yet find stuff you can buy here and sell back home.

Don't sell you home take a morgage out on it. Keep your assists rent it out. But fist b4 you do anything take a few business classes. Money is money, and fools can lose money faster than then can make it.

[Totoro]

Hi, Thanks for your replys.

To answer your questions:

1) What profession are you in now?

Currently in IT support, something which I am not really interested in at all, I just started doing this to get money.

2) What is back-round?

I have a background in Video Games and Web Development production/management.

3) Can you afford to lose all of it 50k then start over back home?

Not really, its risk at the end of the day but so is running a business anywhere.

4) Have you been to to Thailand before.

Yes but not for a significant amount of time.

5) Is this Geeit?

No.

I think that living in Bangkok for several months checking things out and learning as much as I can is the best way to proceed. Will I still be able to come out on a Non Immigrant Visa "B"?

About renting my flat out, I need to get rid of it anyway, its jointly owned by my ex, she tried to sell it the other day for about £30k less than its worth, the crazy cow.

Timbee I understand what your saying but the reason I am asking these questions is so that I can try any avoid any problems and have more of a realistic outlook.

Cheers

Totoro

[fatter than harry]

Mate, sell your house, put the money in your UK bank account, come and live here for a few months on your ATM card. Really, I've seen so many people lose their shirts and pants over here in start up business' that it's like I have a mental go go show going on in my mind - you wan ping pong? - enough!

Keep your capital in your trousers for a while.

[Indo-Siam]

Hi -

I'll share one viewpoint with you. I am a (very) modestly successful entrepreneur in Bangkok. I spent my adult life either working for the US government, or working as an employee for several corporations.

I had no background as an entrepreneur, and no real desire to go that direction. Then life took a few twists (as it is want to do), and I decided - for some unknown reason - that it was time to strike out on my own.

I did this in a very unwise manner, and I only survived due to benevolence on the part of one company for whom my company worked as a subcontractor.

But - here's the point - the "lesson learned" - the most important nugget I could give anyone who is considering starting and running their own company - for the first time -

Make sure that - before you start your company - you have some customers pre-sold, such that you start earning income right away - as soon as you launch.

Here is what I "discovered" - the working capital of a start-up company is like sand in the top portion of an hourglass. Once you start your company (flip the hourglass over), money starts flowing out of your bank account - without pause. night and day - no matter what you are doing - money flows out - for salaries, rent, taxes, electricity, phone calls, taxi fares, postage stamps, etc., etc, ad infinitum. It takes ABSOLUTELY NO EFFORT WHATSOEVER to inspire money to flow away from you.

But - to EARN money - that is, to put sand back into the top of the hourglass, you must struggle and fight, tooth and nail, never-say-die.

You must:

Create a product or service

Market your deliverable

Respond to inquiries (kiss a lot of frogs)

(maybe) Discover a prince ot two - customers who pursue purchase

Negotiate the transaction

Close the deal, and book the order

Create the deliverable

Deliver it

Get the customer to realze/acknowledge that they received it (do NOT take this mundane point for granted)

Invoice customer

Follow-up on invoice

Inspire customer to pay the invoice

Get customer to sign the check

Find out that check has been signed and is awaiting pickup (again, if you take this minor point for granted, then you have no clue about life in the Bangkok business world)

Send someone to pick up the check

Get the check deposited in your account

Now - look at that list. Simple - right? Heh, heh. Don't bet on it. The path I outline above is fraught with a million diversions and hazards. 'Remember "the dog ate my homework"? That excuse pales in comparison to what confronts the poor blighter who expects the payment side of the equation to proceed predictably.

You HAVE to have your early client payments already 85% through the payment process before you launch your enterprise. Otherwise, the sand in your hourglass stops flowing before you even know what happened to it. The flow of money outward is insidious, relentless, and merciless. None of your employees care - they are getting a paycheck, so its not their problem. It's YOUR problem. No one cares except YOU. Never doubt this for a minute.

But - if you somehow survive - it is a wonderful new feeling - sort of like "cheating death" - you managed to somehow create something self-sustaining out of absolutely nothing. It is a unique feeling. To create jobs out of nowhere.

One other unrelated tip: There are two types of businesses - those that satisfy unfulfilled demand, and those that first create demand (for something no one even knew they needed), and then fulfill that demand. Well, in Thailand - always try to satisfy existing unfulfilled demand. This is an ungodly difficult place to create demand, and then fulfill it. The gods must be against innovation here. Demand creation is work for wizards here - not for mere mortals.

Hey - as Wayne Gretzky once said - "You miss 100% of the shots you never take."

There's nothing like flat out desperation to bring out the unbridled panic within every unsuspecting first-time entrepreneur.

I could never be an employee again. Once you endure the crucible, and somehow scrape through - you can never again tread "among the timid souls who know neither victory nor defeat."

Good luck!

Cheers!

Indo-Siam

[Sunbelt Asia]

Very good post Steve. Some gems in your post. Thank you.

I firmly believe that’s why an existing business has a much higher success than starting one up. You acquire a business that satisfies existing unfulfilled demand and still has growth. What a HUGE advantage.

Case in point. 35 year old electric generator company which has been successful every year and survived the crisis in 97. Their daughter wants to continue her profession not be in manufacturing. Weak in sales and marketing but their factory has backlogs not able to keep up with the demand. The new owner will have a huge advantage versus starting one up because of their reputation and demand from the state railroad.

Second case in point: Fire Safety Company. Established over 20 years ago. The current owner has stomach cancer and wanted to take care of his employees for the future. The law was passed last year that all public buildings had to have fire extinguishers. Their sales skyrocket higher last year. New owner will do very well using their reputation and capitalizing on their demand.

Third case in point. I could go on and on about other existing business cases but on this point I would use a start-up as an exception and one example. Exports are white hot now. There is unfulfilled demand for the high quality made products in Thailand. If you have distribution channels set up beforehand, you could do very well.

www.sunbeltasia.com

[Totoro]

Thanks for your replies, Indo you have some very good points on the subject and it nice to hear some positive comments!

It does seem that the best way to proceed would be to move to Bangkok initially and then look around for a decent opportunity. To reduce the hourglass effect that Indo talks about buying an existing business with ongoing revenue streams seems to be the best option with less initial risk than a startup.

Its interesting to read the different comments on on the forum, from what I have seen so far it seems that a lot of people have seen people or have themselves had bad experiences of running business's in Thailand and losing money. Is this a clear indication of what's really happening? Perhaps its just down to the fact that running a business can be risky no matter what country you are in.

It would be really interesting to hear about more peoples experiences (good and bad) of running their own companies in Thailand. Perhaps this should be for another thread.

Cheers

Totoro

[Sunbelt Asia]

A international lawyer Harold Vickery told me several years ago “ Businesspeople that are not successful in their home countries, usually are not successful in Thailand either. On the other hand those that make it in Thailand, would be successful anywhere else too”

So it’s not just Thailand, it’s the individual because it all comes down to management.

Thailand does indeed have a number of rags to riches stories just like other countries.

I know one guy who had borrow $2,000 from his brother 8 years ago and just built a house for 40 million baht. He takes net one million out of his company a month. Excellent people skills. He’s a freight forwarder.

Know of another case where a guy had $5,000 to his name six years ago and started a club. He makes over 2 million net a month now.

Another case, where a guy invested $25,000 in a bar. After selling his shares and starting another pub. He just sold his shares for $240,000. He did this in six years.

Bill Heineke who is a Baht Billionaire has 70,000 employees( Burger King, Sizzler, Dairy Queen, Swenson’s, owns cheese and ice-cream plants and several five star hotels. He started out in Thailand as a janitor in 1966.

Do any of them go out drinking every night? Nope, long hours is what is needed at the grindstone.

[kwiz117]

A international lawyer Harold Vickery told me several years ago “ Businesspeople that are not successful in their home countries, usually are not successful in Thailand either. On the other hand those that make it in Thailand, would be successful anywhere else too”

In summary, above statement is enough..

Good points Sunbelt and Indo-Siam.

I am still thinking whether to start a company in Thailand or not due to many reasons. I have a business running very smoothly in my home country, but selected to work in Thailand to sort out my Work Permit problem and also take some time to study the system here before jumping and hitting the deck. But the more I study...and more I live here..the less likely I am going to start any business here..Well..that is me..

[Patong Bob]

From my limited experience, three and a half years in Phuket, 90% of businesses fail within 6mths to three years. Please note that in Patong you are generally restricted to a three year lease. At the end of that time, the owner of the property will be after more keymoney (i.e. you have to buy the business again) and higher monthly rent. If you are successful the rent and key money will rise by a huge amount, or alternatively the owner will refuse to renew the lease and one of his relatives will then take over the business.

This is Thailand.

[et33.com]

don't buy any business

unless you are an expert in your field

go after a local thai business-woman

and marry into her business

and help her expand the business to your home country instead...

good for you

good for her

any thai woman want to know me ?

i'm still single

[mouse]

i'm still single

And now we know why

[Sunbelt Asia]

Please note that in Patong you are generally restricted to a three year lease.

Wild stuff!

Just not very good business! I can't think of one of our clients ever doing that! They ALWAYS get at least three years plus a three year option MINIMUM. With the option resting with them, not the landlord. The option always has a maximum rental increase already in the contract. The norm is 10-15% increase per three year rental. No key money either! We have over 100 listings on our books in Phuket. I really can't think of one that the new owner can not get a long term lease.

Phuket is in fact is much better than Bangkok on 12 or 15 year leases. Anything over three years has to be registered with the Land Department or it's only valid for 3 years. The Landlords usually don't want to pay 1.5 months tax per year. On a contract longer than three years they have to.

I've been told, were a VERY tough negotiator with Landlords. I do know we only want the best for our clients and will try to protect them at all costs. Their fee for our service if they acquire a business: Zero.

A long term lease is a must! We insist on it.

www.sunbeltasia.com

[dr_Pat_Pong]

From my limited experience, three and a half years in Phuket, 90% of businesses fail within 6mths to three years. Please note that in Patong you are generally restricted to a three year lease. At the end of that time, the owner of the property will be after more keymoney (i.e. you have to buy the business again) and higher monthly rent. If you are successful the rent and key money will rise by a huge amount, or alternatively the owner will refuse to renew the lease and one of his relatives will then take over the business.

This is Thailand.

The buyer should never sign up without security of tenure. That is essential.

[asinah]

Bill Heineke who is a Baht Billionaire has 70,000 employees( Burger King, Sizzler, Dairy Queen, Swenson’s, owns cheese and ice-cream plants and several five star hotels. He started out in Thailand as a janitor in 1966.

The Heinike family has been rich from the start. I know Bill and Skip very well and many of those stories are press stuff.

One of the biggest revenues and profit comes in from the Pizza Co and he makes good money as an exclusive representative for the Piper airplane manufactuer.

.. but any way, he is a great business guy and I love those battles he had with Pizza Hut.

[asinah]

Totoro,

I have seen many European's that sold a house or flat and came with the money to Thailand. (Many failed and lost it all)

If I were you, hold on to the money for another year and find out how business is done in this country.

Any way with 50,000 USD, you should do ok for 2 years.

[asinah]

But the more I study...and more I live here..the less likely I am going to start any business here..Well..that is me.. ]

Kwiz117,

Me too

[Totoro]

Asinah

Thanks for your comments, I am becoming increasing more wary about getting a business in Thailand but I think that would go for getting a business anywhere really.

What I will do is move out in a few months after I have sold my flat and spend a while researching different opportunities. The major problem is what I will do to get income during this period.

Cheers

Totoro

[mowlem]

Do what a lot of people do......TEACH ENGLISH!!

Or maybe computing........

Come out here and live normally. So many people start a business after coming on holiday. Facing the daily grind, (and a lower standard of living) changes ones perceptions somewhat. A cheapish condo, a crap day at work, and a bad and long journey home are things you don't normally get on vacation. Test the water before you dive in. There IS money to be made here, but often only after living here for some time, and with loads of self made contacts.

Good luck with whatever you decide to do!

[peterexpat]

when you are here, look around and talk to the expats who have lost business- as other posts say- but thru experience-

thais do not normally sell there business's to farangs full stop.

only if they are in debt or trouble, you see lots of adverts in here and the bkk post about thais retiring.

They never retire!

They leave the business to there family or relatives.

I know people who have bought thru farang brokers they will tell you all the good stories but non of the bad.

Have you thought why a good business decides to sell?

you cant trust the accounts?

A friend bought a business for 10m baht,seen the books etc, business folded after 3 months- revenue was promised at 100,000 baht a month but in reality was only 10,000 baht.

so beware of farang advice ! think of your own business ideas and go for it,

take the monry while you can cause they will soon copy it.

[Sunbelt Asia]

Peterexpat, thanks for your post. I don’t agree with most of it but it does give me a chance to give facts and point out why in my opinion, your thinking is flawed. I’m the Managing Director of Sunbelt Asia. People that know me know that we value our reputation which is based on honesty.

"thais do not normally sell there business's to farangs full stop."

In some cases but most of our businesses owned by Thais are acquired by Thais. We get three prospective Thai buyers to every Foreigner in our offices. In the past 21 months, 1005 businesses listed with our company, the Thai Sellers owned 732 of the businesses, as we had three times more Thai buyers than foreigners. That should hold up as for business transfers and it does.

"only if they are in debt or trouble, you see lots of adverts in here and the bkk post about thais retiring.

They never retire!

They leave the business to there family or relatives. "

That I will disagree with 100%. If I had listened to the same wisdom, we never would have expanded to Thailand. I was with Sunbelt for 18 years in the USA and now going on 2 years in Thailand. Nobody thought we could get listings in Thailand as they pass it on to their family. People asking my wife “If she loved me? How could she let me expand here?” Boy were they wrong! We are the #1 office in the World out of 389 offices. The average Sunbelt office in the States gets 28 listings in a year. We get that in some weeks! This week we had 17 new listings. Why do people sell? You imply it must because something is wrong with their business. I can give you many cases that they sell for human reasons, divorce, partnership disputes, health, relocation and retirement.

Why does your theory of retirement not holding up in 100% of the cases versus passing it on to their family? Couple examples:

An electrical generator manufacture company, one of the largest in Thailand. They have been open 35 years. Survived the crisis in 1997 when activity came to a screeching halt. Why are they not passing the business on to their daughter? She is an adult and a professional model. They don’t want to force her to give up her career unless they have to. They understand it’s not fair to force anything on to their only child. Very much concerned about their “family” of employees that many have worked for the past 20 years. They have audited books and confirmed back log of orders for the next 95 days.

Profitable cosmetic company that produces whitener cream has been established 28 years which already has been acquired . Brand name that 70% per cent of the Thai people will recognize. The Sellers were very rich and they wanted to retire. Married late and both were 55 years old. Two kids..one 12 years and 14 years old. Two companies… paper manufacture and cosmetics. They asked the kids and they wanted to go into the paper business. The Seller was very much concerned about the Cosmetic employees that they would be taken care of so they just didn’t simply close it. Successful business transfer and both the seller and buyer are happy.

Flour and Food Ingredient Wholesaler is well established after 38 years in the China Town region of Sampanthawas. The business imports products such as bean cake powder, potato flour and cinnamon from abroad and then distributes them to hotels and restaurants. The owner is planning to retire and has no children.

Successful Bangkok Transportation Company has been is existence for almost 20 years, and has a total fleet of 24 buses. The owner has run this business for a long time now, since inception, and feels that it is time to retire. His kids are professionals and not looking to get in the bus business. Their oldest is a medical doctor and the other an architect.

Three or four star resorts, manufacturing companies, a 22 year old restaurant that serves 750 guests a night. All of these and more are available. Not because they are losing money but because the owners are looking to retire. 691 businesses currently available, 65 of them are because the owners are looking to retire.

"I know people who have bought thru farang brokers they will tell you all the good stories but non of the bad."

Of 121 businesses acquired with us last year. I can tell you 119 good stories. Two bad…

One bad case, the guy broke up with his GF and then drinking every night. As he was in a good location and the business still did ok. He ended up selling it. He lost 75,000 Baht on the sale. But still had made 130,000 in the three months he owned it. So no real net loss.

Another a guy was transferred to Hong Kong after he had just bought a restaurant. With no physical checking up on the business in the last three months except by phone. What do you think the sales have done? He has it listed with us now with Owner financing. However, it must be noted, he also bought an internet café with us at that same time and that is making around 40,000 Baht net per month. The computers all have smartcards on and he can track that business.

The 119 good cases, why are they successful? Would they have the same track record be if they started from scratch?

The odds would be very much against them. Why? Take 10 business plans from 10 different people. Who would you invest in? They all feel they’ll make a profit in the second year. How bout if you could come back in 2 years and see their actual businesses? Two years later, they now are in business and you could pick one to acquire. Would you have a better chance at the 2 year period or at the start up stage? Of course at the two year period as you could do due diligence and pick the one that fits your personality and if it’s really making money rather than just the concept itself.

"Have you thought why a good business decides to sell?"

A good question and one that’s the first out of our mouths asking. If it’s not a sincere human reason, we pass. If we find out, it’s because they are losing and they are not ready to sell at least half of their investment costs, we pass UNLESS it’s in a great location. Asset sales are usually asking around 50% of the Sellers investment. Final selling price 25-40%. 90% of our businesses are valued on a cash flow model as the Seller is motivated to sell because of a human reason. Your due diligence by your professionals will confirm if it’s really a human reason such as partnership dispute, retirement, etc.

"you cant trust the accounts?"

In Thailand, I feel that’s been the biggest shock to me on how many companies have good books versus the West. Much higher in Thailand. I must say its more foreign companies than Thai ones though but still around half paid their fair share of taxes. Must be the Thai prisons! However many other ways to find out if a business is good without looking at tax records.

"A friend bought a business for 10m baht,seen the books etc, business folded after 3 months- revenue was promised at 100,000 baht a month but in reality was only 10,000 baht."

He sure didn’t acquire it with a professional business broker. Our firm would as an example would NEVER take a listing that was 8.33 times earnings which it would be even at the 100,000 earnings per month. The norm is 3 times earnings max excluding real estate. The rule of thumb after negotiation is the acquisition would be at 2.5 times earnings. To be blunt, to pay 8.33 times, is equivalent to buying the Brooklyn Bridge. A 12% return and you have to work to get that? The norm as I said around the World is 40% return for an acquisition in a small business.

"so beware of farang advice !"

Yes and also Thai advice too. There are good honest people in the World and there are bad ones as well. Sorry to say, your friend sure didn’t listen to professionals.

"think of your own business ideas and go for it,

take the monry while you can cause they will soon copy it. "

Again, the guy has 2 million to invest. You want him to come up with his own idea in a different country? Which makes more sense, a plan on the drawing board or one that has gone thru the initial start-up and has trained employees in place and immediate cash flow?

I’m not saying that owning a business is for him but one thing is for sure, acquiring an existing business has a MUCH higher success than starting one up. I have the true facts of my experience and hope I have enlightened you or other readers, why I’m very proud to be the Managing Director of Sunbelt Asia.

Greg Lange

Managing Director

Sunbelt Asia

www.sunbeltasia.com

[asinah]

Totoro,

Thanks for your comments, I am becoming increasing more wary about getting a business in Thailand but I think that would go for getting a business anywhere really.

Just take your time and investigate proper. I would say if you are good in IT you could have excellent opportunities in Thailand. (I am getting at least 5 inquires per month within Thailand but I promised myself never again to work or be in partner for Farangs or Thais in this country - Thailand is a great way to retire as long you

have income from overseas.

What I will do is move out in a few months after I have sold my flat and spend a while researching different opportunities. The major problem is what I will do to get income during this period.

That's a good option and remember "keep your pounds in the UK" !

I came with 2 million Baht (around 80K USD) to Thailand many years back and lost it all. Don't trust anyone in this country or do deals with Bangkok's High Society only aka stay away from the Farang community.

PS: Don't buy any business in this country and only go on a partnership if your partner puts the exact amount in the business.

Any way good luck

[peterexpat]

To

SBA,

you should go into writing sci-fi books, too many stories,

by the way my friend did buy his business thru you!

if you ring most companies advertised about accounting, when you see them they will explain in detail how they will cut corners and save you lots of money.

by false accounting etc etc

we all know you are a sponsor here, but you ever go to bed!

you dont have to reply and trade for business here to everyone.

lots of bad business here just look at SUBWAY, always empty, should turn it into a massage & sex shop.