edw Posted May 10, 2015 Share Posted May 10, 2015 hi all, I'm from Malaysia and I'm 30 years old, I'm deeply in love with Thailand for years, and I wish to live in Thailand and settle down if possible. My prefer destination will be Phuket or Bangkok, I heard of many kind of Visas, ( tourist visa, non immigrant B visa, non immigrant O visa, ED visa, marriage visa, retirement visa ). My thought is to setting up a small business, ( as I saw some shops in Phuket are owned by foreigners, which selling organic or natural products, beauty products, aroma products, and also cafe ) I'm not sure if I allowed to do so by the Law in Thailand, I'd like to seek advises and knowledge from you guys. 1) how to go about it? ( what's the procedures, requirements, minimum capital ? ) 2) does it helps me to live in Thailand, ( wiill I get visa and work permit ? ) Thanks. Link to comment Share on other sites More sharing options...
Popular Post nzexpat Posted May 10, 2015 Popular Post Share Posted May 10, 2015 (edited) My advice is to continue enjoying Thailand as a tourist Your "dream" is most likely un-achievable Sorry Edited May 10, 2015 by nzexpat 6 Link to comment Share on other sites More sharing options...
edw Posted May 10, 2015 Author Share Posted May 10, 2015 My advice is to continue enjoying Thailand as a tourist Your "dream" is most likely un-achievable Sorry hi. why do u said so? could you advise more? Link to comment Share on other sites More sharing options...
PoorSucker Posted May 10, 2015 Share Posted May 10, 2015 1. To form a company that will get you a work permit, the company must have 2 million baht capital and employ 4 Thais (this is halved when married to a Thai) The company must be own by Thais that have 51% of the shares, you can own 49%. There are lot of lawyer firms that can set up a company where you own 51% but control the company. 2. If the company obliges to the rules above you will get a work permit. First two years of the company you will have to go to get a new multiple non-B from Malaysia. After that you can get an extension of stay from immigrations in Thailand. 1 Link to comment Share on other sites More sharing options...
edw Posted May 10, 2015 Author Share Posted May 10, 2015 1. To form a company that will get you a work permit, the company must have 2 million baht capital and employ 4 Thais (this is halved when married to a Thai) The company must be own by Thais that have 51% of the shares, you can own 49%. There are lot of lawyer firms that can set up a company where you own 51% but control the company. 2. If the company obliges to the rules above you will get a work permit. First two years of the company you will have to go to get a new multiple non-B from Malaysia. After that you can get an extension of stay from immigrations in Thailand. 2 million baht capital, which mean me and my partner in total? which my partner pay 1020000 baht and I will have to pay 980000 baht? Link to comment Share on other sites More sharing options...
digitalchromakey Posted May 10, 2015 Share Posted May 10, 2015 (edited) 1. To form a company that will get you a work permit, the company must have 2 million baht capital and employ 4 Thais (this is halved when married to a Thai) The company must be own by Thais that have 51% of the shares, you can own 49%. There are lot of lawyer firms that can set up a company where you own 51% but control the company. 2. If the company obliges to the rules above you will get a work permit. First two years of the company you will have to go to get a new multiple non-B from Malaysia. After that you can get an extension of stay from immigrations in Thailand. 2 million baht capital, which mean me and my partner in total? which my partner pay 1020000 baht and I will have to pay 980000 baht? The capital is notional, you pay a small fee per 100,000 THB to register it, for example when the company is formed. No proof of 'ownership' spilt is required for registered capital. You will have to account for the registered capital in the annual accounts/auditing; this could however be listed as a value in terms of capital assets, loans to directors, trademarks, copyrights, intellectual property, etc. Running a company in Thailand is laden with potential problems and many who try will eventually give up, some succeed. The playing field is not level when you compete with 100% Thai owned/run businesses. Good Luck. Edited May 10, 2015 by digitalchromakey 1 Link to comment Share on other sites More sharing options...
F4UCorsair Posted May 11, 2015 Share Posted May 11, 2015 (edited) 1. To form a company that will get you a work permit, the company must have 2 million baht capital and employ 4 Thais (this is halved when married to a Thai) The company must be own by Thais that have 51% of the shares, you can own 49%. There are lot of lawyer firms that can set up a company where you own 51% but control the company. 2. If the company obliges to the rules above you will get a work permit. First two years of the company you will have to go to get a new multiple non-B from Malaysia. After that you can get an extension of stay from immigrations in Thailand. 2 million baht capital, which mean me and my partner in total? which my partner pay 1020000 baht and I will have to pay 980000 baht? More like you paying B2 M and 'donating' 51% to a Thai.My advice is as above.....continue the love affair as a tourist. Emotion is not a good basis for starting a business in a foreign country, or probably in any country. Thailand is littered with foreigners who have blown a bucket of money in partnersip with a local. Your choice, and $$, of course, but I think the overwhelming advice will be to not do it. Edited May 11, 2015 by F4UCorsair 2 Link to comment Share on other sites More sharing options...
maidee Posted May 11, 2015 Share Posted May 11, 2015 the search button would have saved you a post 1 Link to comment Share on other sites More sharing options...
1FinickyOne Posted May 11, 2015 Share Posted May 11, 2015 Some dreams can turn into nightmares - - Malaysia is nearby, you are more likely to be profitable in your own market & have fewer obstacles - make money at home and enjoy your vacations. 2 Link to comment Share on other sites More sharing options...
Wadan Posted May 11, 2015 Share Posted May 11, 2015 I had the same thought like you , but it seems the overwhelming consensus here is to be careful and not do It. I believe the people here give genuine advice and most of them are talking from experience. I decided this is not laughing matter and does not want to be a statistic. As a result I backed down . No investment. Link to comment Share on other sites More sharing options...
Tatsujin Posted May 11, 2015 Share Posted May 11, 2015 Based on previous experience, I wouldn't even consider opening a business here "unless" I already had a reliable Thai partner that I could depend on and that had a more "western" mindset. There's just too many "problems" when trying to deal with things on your own as a "foreigner" when it comes to living and working here. Oh, and it'll end up being a lot more expensive than you think/expect. 1 Link to comment Share on other sites More sharing options...
recycler Posted May 11, 2015 Share Posted May 11, 2015 Maybe you should try to get "love" out of the equasion, it often results in very bad business decisions. Thailand is a rather difficult country to start and run a business. Restrictive and variable interpreted laws and regulations, high dependency because of language on locals who always tell you they know it all, but often know nothing at all and run off after messing up, high cost in just setting up and running a company before you even do any business, high taxes, etc... Link to comment Share on other sites More sharing options...
50baht Posted May 11, 2015 Share Posted May 11, 2015 #1 Move to Issan. Marry a Thai women with lots of Brothers,Aunts,Uncles,neices and nephews. #2 Invest in everyones problem. #3 Join The Pattaya Flying club + http://tinyurl.com/PFCLUBMANUAL Link to comment Share on other sites More sharing options...
smotherb Posted May 11, 2015 Share Posted May 11, 2015 With so many nay-sayers on businesses in Thailand, why do so many "buy" houses and property here? Not only is the ROI not here, it seems the odds are against you--after all, by Thai law foreigners cannot own property and if push comes to shove any way some lawyer circumvented Thai law will be adjudicated illegal in a Thai court, unless you spend even more money to "buy" the court's decision. 2 Link to comment Share on other sites More sharing options...
Fullstop Posted May 11, 2015 Share Posted May 11, 2015 I'm deeply in love with Thailand You're in the "Honeymoon" phase ... Be sure to post again when you're in the "Divorce" stage. It will be interesting to compare the two threads. Link to comment Share on other sites More sharing options...
humqdpf Posted May 11, 2015 Share Posted May 11, 2015 Get a retirement visa and enjoy Thailand first! Live in your chosen place for 6 months or a year, do your research and get to know the folks around you so that you can know what you will be up against. But do not jump into any business as you will suffer. Wait until you hear the stories from other expats. Learn who the mafia is in your chosen place and what the police are like in that area. Do not even think about setting up a business in competition with a local Thai person. And ignore all of those who tell you that they can get you the permits cheaply because they know someone - most likely you will lose your money and get into trouble. Link to comment Share on other sites More sharing options...
BlackJack Posted May 11, 2015 Share Posted May 11, 2015 I would wait until December when we MAY all know more above the ASEAN AEC rules and regulations It maybe easier then Agree with another poster and live in Thailand for 1 year before you spend any money Do your market research and due diligence as I have seen many try and 99% fail Link to comment Share on other sites More sharing options...
torpedo1970 Posted May 11, 2015 Share Posted May 11, 2015 My advice is to continue enjoying Thailand as a tourist Your "dream" is most likely un-achievable Sorry I love Thailand too! just to stop someone from calling me a Thai basher,...... but i would second this... You should enjoy and continue to love Thailand as a Tourist..... as a foreigner you can only own 49% of a business.... and even if you manage to make some good business.... the envious Thai's (someone in a power position) would make sure you loose some... to level out.... (or to pay bribes, or protection money) As a Foreigner... as that is whatever you/we would be even after spending 30-50 years here.... we are only meant to spend money here... not make any.... The foreigners you see that own a shop as you stated are most likely married to a Thai.... but even then they are not owning more than 49%.... You can always dream, but be very cautious Link to comment Share on other sites More sharing options...
elgordo38 Posted May 11, 2015 Share Posted May 11, 2015 My advice is to continue enjoying Thailand as a tourist Your "dream" is most likely un-achievable Sorry I love Thailand too! just to stop someone from calling me a Thai basher,...... but i would second this... You should enjoy and continue to love Thailand as a Tourist..... as a foreigner you can only own 49% of a business.... and even if you manage to make some good business.... the envious Thai's (someone in a power position) would make sure you loose some... to level out.... (or to pay bribes, or protection money) As a Foreigner... as that is whatever you/we would be even after spending 30-50 years here.... we are only meant to spend money here... not make any.... The foreigners you see that own a shop as you stated are most likely married to a Thai.... but even then they are not owning more than 49%.... You can always dream, but be very cautious Above Quote"The foreigners you see that own a shop as you stated are most likely married to a Thai.... but even then they are not owning more than 49%....and to add a little something you better wake up every day hoping she still loves you. I have known of a couple farangs who fell out of favor with their wives or the wife just waited till he had the process set up (a French baker comes to mind) and they lost it all. In the case of the French baker the wife later found out her life's calling was not baking good French bread. After she booted the husband out the shop did not last long and closed. Link to comment Share on other sites More sharing options...
tomyumchai Posted May 11, 2015 Share Posted May 11, 2015 i stopped reading after the words 'love' 'thailand' 'phuket' 'bangkok'......surely a wind up... Link to comment Share on other sites More sharing options...
Mark T Posted May 11, 2015 Share Posted May 11, 2015 Hope this helps, although i am enjoying myself as a tourist Thailand BusinessGuide 2014.pdf Link to comment Share on other sites More sharing options...
IMA_FARANG Posted May 11, 2015 Share Posted May 11, 2015 Well, it can be done, but it is difficult and will require you to learn to adapt to living in Thailand as a 'resident" not a tourist. Not every foreigner can do that. Also on setting up a business, besides the financial requirements noted above, you have to realize that there are some businesses that are legally restricted to Thai nationals that you simply can not now start as a non Thai. No matter how much money you have to invest. However, with the full implementation of the ASEAN rules in a couple years there MAY be some changes to current rules. But then again, there may not be. Just not sure yet. Link to comment Share on other sites More sharing options...
GR8fun in LOS Posted May 11, 2015 Share Posted May 11, 2015 Hi there, as mentioned above there are many trials and tribulations to be negotiated by a Foreigner investing and opening a business in Thailand. As many have mentioned the love affair may not last, so do your research and be sure you understand exacting what is required and what the RISKS are currently and may be over a period of time. Stop and think logically then research, test the information gathered, think again, do further research if after thinking you decide you require more information. A very important comment, only made once that I saw, is - ASEAN commences on 31 December 2015 you said you are from Malaysia, are you Malaysian? if you are Malaysian you will have benefits that are common to all the members of ASEAN from 31 December this year determine if those benefits are to your advantage in opening a business and living in Thailand gather all the information both Pros and Cons decide if you still want to live and work in Thailand ask for advice from friends or professionally, perhaps both do all the research that you feel will allow you to make a clear and logical decision STOP and THINK AGAIN make your decision Good luck with which ever decision you make, but do think it all through before taking the steps. Remember - "He did plan to Fail but simply Failed to Plan" 1 Link to comment Share on other sites More sharing options...
Mitker Posted May 11, 2015 Share Posted May 11, 2015 The OP must be somewhat depressed after reading all these posts. However, it is far more preferable to be warned about reality than to experience it the painful way. My only suggestion to the OP: get in touch with foreigners who have been running their business in Thailand for years and gather information from them. The picture will be much less rosy than the official communication but will save you a lot. You are young. You surely have projects but Thailand is not the best place to invest as a foreigner. Link to comment Share on other sites More sharing options...
laobali Posted May 11, 2015 Share Posted May 11, 2015 Hi there, as mentioned above there are many trials and tribulations to be negotiated by a Foreigner investing and opening a business in Thailand. As many have mentioned the love affair may not last, so do your research and be sure you understand exacting what is required and what the RISKS are currently and may be over a period of time. Stop and think logically then research, test the information gathered, think again, do further research if after thinking you decide you require more information. A very important comment, only made once that I saw, is - ASEAN commences on 31 December 2015 you said you are from Malaysia, are you Malaysian? if you are Malaysian you will have benefits that are common to all the members of ASEAN from 31 December this year determine if those benefits are to your advantage in opening a business and living in Thailand gather all the information both Pros and Cons decide if you still want to live and work in Thailand ask for advice from friends or professionally, perhaps both do all the research that you feel will allow you to make a clear and logical decision STOP and THINK AGAIN make your decision Good luck with which ever decision you make, but do think it all through before taking the steps. Remember - "He did plan to Fail but simply Failed to Plan" The way you earn income in Malaysia will have a big effect on your success. What do you do for a living? Link to comment Share on other sites More sharing options...
luk AJ Posted May 11, 2015 Share Posted May 11, 2015 With so many nay-sayers on businesses in Thailand, why do so many "buy" houses and property here? Not only is the ROI not here, it seems the odds are against you--after all, by Thai law foreigners cannot own property and if push comes to shove any way some lawyer circumvented Thai law will be adjudicated illegal in a Thai court, unless you spend even more money to "buy" the court's decision.foreigners can own property such as condominiums. ROI I suppose you mean Return On Investment? Just look at the sqm price and compare to any Asian Capital, Bangkok is always the lowest so ...much room for increase. You can even compare with Almaty or Tashkent.... Link to comment Share on other sites More sharing options...
wowfactor10 Posted May 11, 2015 Share Posted May 11, 2015 Good idea people in love usually make the best choices over here here how u will be served.. u will invest 100% of the money and then u own 49 % of your company...Sounds great right hahaha Random thai share holders will hold 51% of your company... u also need to hire 4 thai staff and for work permit its so complicated and so full with 100,0000 rules and regulations that soon u hairs gonna be grey.. good luck ur business sure u be rich soon!@ Link to comment Share on other sites More sharing options...
smotherb Posted May 11, 2015 Share Posted May 11, 2015 With so many nay-sayers on businesses in Thailand, why do so many "buy" houses and property here? Not only is the ROI not here, it seems the odds are against you--after all, by Thai law foreigners cannot own property and if push comes to shove any way some lawyer circumvented Thai law will be adjudicated illegal in a Thai court, unless you spend even more money to "buy" the court's decision.foreigners can own property such as condominiums. ROI I suppose you mean Return On Investment? Just look at the sqm price and compare to any Asian Capital, Bangkok is always the lowest so ...much room for increase. You can even compare with Almaty or Tashkent.... Things with dirt, I should have said. However, my aversion also applies to condos. All the stories of unrequited love and lost fortunes aside; in countries with unstable governments you never know when foreigners will be ousted without recompensation for their belongings--I have experienced that twice, in Iran and in Vietnam, and my parents experienced it in Cuba. Thai prices are already highly inflated; try comparing prices here to back home--I am from Florida, I can buy there for cheaper than here, and in my name too, so can you, no matter your citizenship. If Thai property prices keep going up, the asking prices also go up--but how long until the bubble bursts? Another problem, will there be someone to buy? I know farangs who have been waiting to find a buyer for their places--Thais don't want to give them near what they paid, and farangs don't seem interested or want to build their own. Furthermore, you can never rent your house for anything near what a monthly mortgage amount would be--the selling price was B10M for my three story row house, I pay B8k/mo rent, that means it will take the owner 104 years to get his money back. So, you had better be sure it is what you want, that circumstances will not change, and that the hassles of trying to stay here are not unbearable. Only one of those factors is up to you; deciding if that is what you want, the other two are up to someone else who may not have your best interests at heart--so, don't change your mind. Why not rent instead of buying? The big bennie, you can simply leave if you want and lose nothing. Link to comment Share on other sites More sharing options...
GOLDBUGGY Posted May 11, 2015 Share Posted May 11, 2015 <script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script> My advice is to continue enjoying Thailand as a tourist Your "dream" is most likely un-achievable Sorry Yes! I to agree with nzezpat. I don't own a business here in Thailand but I have been a long time reader here. I suppose everyone who is not on a Retirement Visa would like to own there own Business here. In hopes they could make a living here and there Visa woes would disappear. But in most cases this not so. Now consider the small business failure rate in you own country then multiply this by 3 for Thailand. There is many hoops and hurdles you will have to jump through and over, just to get started. Many protection laws as well. For example owning your own business does not mean automatically you would get a work permit, and thus visa. So you may not be even allowed to work in your own business legally. There are some success here I am sure. But many more who opened some kind of bar or business with his Thai Girlfriend or Wife only to find disappointment and closing down in a year, with their investment gone. I think one wise poster here said it all and about this years ago. He said that to make a small fortune in Thailand you need to start with a large one. Link to comment Share on other sites More sharing options...
Kanthralak 1 Posted May 11, 2015 Share Posted May 11, 2015 I would wait until December when we MAY all know more above the ASEAN AEC rules and regulations It maybe easier then Agree with another poster and live in Thailand for 1 year before you spend any money Do your market research and due diligence as I have seen many try and 99% fail 99% fail. Is that a recognised statistic or your opinion??? Link to comment Share on other sites More sharing options...
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