94tegsi Posted September 20, 2014 Share Posted September 20, 2014 Hi, I have the opportunity to invest 25% of a new smallish hotel/bar in Thailand. I am resident in the UK and will continue to do so. Does anyone have knowledge of the implications it could have for me? Mainly tax related and any other costs that I may get hit with? Do I need to communicate earnings to the uk tax office? What options are open to me? Cheers Link to comment Share on other sites More sharing options...
94tegsi Posted September 21, 2014 Author Share Posted September 21, 2014 Following on from the above. If anyone has advice on how well smaller hotels (20 rooms) in Pattaya have been performing of late it would be appreciated. Occupancy rates etc. It will be a mid priced, clean and well looked after hotel with a sports bar. My Thai based business partner has very good contacts so there should be no hassle from police or otherwise. I have some concerns about advertising and booking agents etc to keep occupancy high. Any advice and experiences would be appreciated. Link to comment Share on other sites More sharing options...
Popular Post JOC Posted September 21, 2014 Popular Post Share Posted September 21, 2014 Someone has to break it to you, so why not me?? Why would someone running a profitable businees in Thailand want/need a partner from abroad. You are 100 % sure going to get cheated out of your money!! So keep your hard-earned mony, where they belongs: In your account!! 6 Link to comment Share on other sites More sharing options...
inzman Posted September 21, 2014 Share Posted September 21, 2014 Someone has to break it to you, so why not me?? Why would someone running a profitable businees in Thailand want/need a partner from abroad. You are 100 % sure going to get cheated out of your money!! So keep your hard-earned mony, where they belongs: In your account!! This is sound advice,not to mention occupancy rates in Pattaya are in the high 30%, so don't expect any profit. I think lighting your cash on fire would produce a better return, run. 1 Link to comment Share on other sites More sharing options...
choochoo Posted September 21, 2014 Share Posted September 21, 2014 (edited) bar-hotel in pappaya! hahahahahahaha! only chance you got is if you lived in your hotel AND still it would have 2 chances- SLIM and NONE and none just left! or has SLIM just left? Edited September 21, 2014 by choochoo 1 Link to comment Share on other sites More sharing options...
Popular Post choochoo Posted September 21, 2014 Popular Post Share Posted September 21, 2014 Someone has to break it to you, so why not me?? Why would someone running a profitable businees in Thailand want/need a partner from abroad. You are 100 % sure going to get cheated out of your money!! So keep your hard-earned mony, where they belongs: In your account!! What are the chances this ventures involves some kind of thai girl? 4 Link to comment Share on other sites More sharing options...
94tegsi Posted September 21, 2014 Author Share Posted September 21, 2014 Lol no Thai girl. It is a hotel that is currently being constructed/renovated, ie not opened yet, by a long standing friend of mine who is a Thai resident. He lived in the uk for 15 years or so which is where I know him from very well. He has good contacts and will actually have a relatively highly ranked police officer having a small stake in the hotel, if that makes a difference. Do none of these type of establishments woke well in Pattaya? Some must, so what are the criteria of those that do?! Thanks for your responses so far. Link to comment Share on other sites More sharing options...
Popular Post robertthebruce Posted September 21, 2014 Popular Post Share Posted September 21, 2014 A Honestly, listen to what fellow TV folks are saying. Pattaya is awash with Small Hotels and Guest Houses, all offering good quality rooms and service... If I was you I would not bother , honestly keep your dosh in the UK... All the best 3 Link to comment Share on other sites More sharing options...
choochoo Posted September 22, 2014 Share Posted September 22, 2014 A Honestly, listen to what fellow TV folks are saying. Pattaya is awash with Small Hotels and Guest Houses, all offering good quality rooms and service... If I was you I would not bother , honestly keep your dosh in the UK... All the best A place i stay in near pizza hut has rooms for 600 baht a night. ok rooms and ok internet. currently they are in the process of renovating their rooms. I expect the rooms to be VASTLY improved. However if upon check-in the big boss lady tells me i have to pay more i will probably go to another 600 baht place. Absolute no pricing power in pattaya. Too many same same type of hotels all over the place. Why would a foreinger want in on a business where POLICE is involved? If police see if you are a chump they probably want more and more for their services-it would never end! 1 Link to comment Share on other sites More sharing options...
rgs2001uk Posted September 22, 2014 Share Posted September 22, 2014 Lol no Thai girl. It is a hotel that is currently being constructed/renovated, ie not opened yet, by a long standing friend of mine who is a Thai resident. He lived in the uk for 15 years or so which is where I know him from very well. He has good contacts and will actually have a relatively highly ranked police officer having a small stake in the hotel, if that makes a difference. Do none of these type of establishments woke well in Pattaya? Some must, so what are the criteria of those that do?! Thanks for your responses so far. The questions you want to be asking are. Is the land and hotel leased, who actually owns the land and what is the lease period? Yes those that work are owner/operator owned, eg NO leases. The so called high ranking police officer is nothing more than a red herring, he could be transferred elsewhere tomorrow, what is his investment in actual cash terms? Good contacts, what exactly does that mean? How many partners will there be? What is each partners contribution? What will each partner take from the business each year? Where is all this written down in English in the form of a legal notorised contract? Have you seen bank statements from each partner to prover their financial input? Where exactly will this place be located? Will this be a guesthouse or hotel? Do you understand the difference between the two? Who will run the food/drinks section? Who will the food/drink section be sub-leased to your friends family? Personally I wouldnt touch this with a barge pole. Seen too many Thais with big dreams, usually farang funded, who couldnt run a bath. 1 Link to comment Share on other sites More sharing options...
Popular Post fletchsmile Posted September 23, 2014 Popular Post Share Posted September 23, 2014 25% stake in a bar/ hotel in Pattaya? From a tax perspective? You'll struggle to set your Thai losses off against UK income. However, as you hold 25%, it would be a good idea to meet with the other 11 people that also own 25% Some good advice from rgs above if you insist on going thru with it. I wouldn't touch it with a barge pole either. Invest your money somewhere else and have some nice holidays here. Cheers Fletch 4 Link to comment Share on other sites More sharing options...
94tegsi Posted October 4, 2014 Author Share Posted October 4, 2014 So, if I can try and summarise what the general consensus is... That, I should try and up my investment as it's bound to be a great success?! 1 Link to comment Share on other sites More sharing options...
Riverman63 Posted October 4, 2014 Share Posted October 4, 2014 My suggestion would be..... go to Pattaya and look around. You should have before even thinking of the investment. I'm no expert but opening yet another hotel there is not going to make anyone rich Link to comment Share on other sites More sharing options...
choochoo Posted October 8, 2014 Share Posted October 8, 2014 So, if I can try and summarise what the general consensus is... That, I should try and up my investment as it's bound to be a great success?! the consensus is your a fruitcake if you buy the hotel. Link to comment Share on other sites More sharing options...
choochoo Posted October 8, 2014 Share Posted October 8, 2014 Is their anyone in their right mind who would pay(invest) in a business with a corrput cop? 1 Link to comment Share on other sites More sharing options...
AnotherOneAmerican Posted October 8, 2014 Share Posted October 8, 2014 When a foreigner, absentee investor invests in a Thai business, any profits are stolen by the local person/s in charge. The absentee owner is always required to top up their investment to keep it afloat. Often the Thai manager/owner/local makes no profit if/when they dare take a holiday, as the new 'man on the spot' will steal all income. It's just the way it is. 2 Link to comment Share on other sites More sharing options...
Xa1 Posted October 27, 2014 Share Posted October 27, 2014 I would agree with the other posters here. The deal looks worse and worse. I would scrap this deal and look for another: you have a chance if you are going to be on site, or if someone you really know and trust is going to be on site, running the biz hands on. and if you or the person you trust has a unique concept. The possibilities here are infinite and amazing. There are many businesses that can be had for relatively little money @ $50,000 yearly lease of the business proper, not including monthly energy costs or rental. Link to comment Share on other sites More sharing options...
CarlTyson Posted December 22, 2014 Share Posted December 22, 2014 Thailand is the Nigeria of Asia and you want to invest? Go ahead. Link to comment Share on other sites More sharing options...
vieseng Posted March 8, 2015 Share Posted March 8, 2015 Do you hiring any foreigners employee to run the business ? Link to comment Share on other sites More sharing options...
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