Reasons of change

[chickenPOX]

Good day,

Hoping someone could explain this to me.

If someone is selling a business in Phuket (let say a bar), is that mean I (as foreigner) can be a sole owner of that business during the leasing period? If not, what is the best option? Registered ordinary partnership or unregistered partnership? (If someone could explain the pro and con between the two will be much appreciated).

I also heard about foreigners can only own 49% of the business, if I decide to go by the registered partnership, is that mean I can only invest on 49% of the value if the business...?

Thank you so much, any advise is very appreciated.

Sent from my iPhone using Thaivisa Connect Thailand

[Noi657]

49% of the money? Don't be silly, they want 100% and then some!

[bluebluewater]

Oh Boy!! You get to put up 100% of the money and for that you get to own 49% of the business.!! Cool, huh?

Would you do that in your own country?

[PattayaPhom]

Lease contract in your name and Thais working, Easy

[Gsxrnz]

Lease contract in your name and Thais working, Easy

Yep, that's as good a way to lose money as any.

[umbanda]

Contrary what some people here may says, I believe that Thailand is a great place for business.....doing it right.

Look at the BDD web site.

You only can own 49% of the business, and with Thai partners. Get at least one "trusted" partner with 2%, and with you always on the manager/director working position.

Options?

If you will not invest so much money, the best option is a limited partnership company. It is easy and cheap to register it your self in the local BDD office. Sometimes Its have English speakers officers. Cost about 2000THB.

If you will invest good money, will be better to open the company with a trusted lawyer's advise and pay, probably about 15000THB for a limited partnership company registration. That lawyer may be your 2% partner.

If you will invest a lot of money, a limited company registration may be better, but needs to show the money. Definitely needs a lawyer, to write the business and the lease contract, and may cost about 30000THB to register.

Why?

If you will lease the location....better a very long term lease and many protection clauses. If the business can be operated easily just with Thai people, you are not VITAL for the operation, and the business become successful, many things can happen.

The most common, is that the owner of the place will not extend the lease to get free possession of the business.....or "sale" the property, and you will have to move with all its inconveniences, and losing part or all of your investment.

We aware. Take care. Good luck to you.

Edited March 9, 2014 by umbanda

[davejones23]

In a land of opportunity many only see obstacles. Will the people who say it can't be done please step aside and let the people who are actually doing it get on with their work.

Some would rather make no money than make a ton of money and have to give some away. Very strange logic. But I suppose it explains why so many expats here are poor. And gives the rest of us a lot less competition. I really do love the loser expats.

[CharlieH]

The color Green springs to mind, VERY green and yes everyone has to start somewhere that's true, but this smacks of a disaster waiting to happen.

Hope I am wrong and wish you all the best, do your due diligence, get as much info as you can, trust no one, there are many an Expat lost a fortune and propping up bar stools who didnt !