Establishing A Business

[fonzie]

Hello there.

After returning from a 4 month stay in southern Thailand, i've decided, together with two friends, to try to start a bar in koh phangan.

I've met other foreigners that owns bars, but my question is; what do i do to obtain a permit to own a thai business? i know i can only own 49% legally, but people have told me that lawyers fix this so its not a problem.

Any information would be greatly appriciated.

Best regards,

Hans

[davethailand]

owning a thai business is the easy part, you just open a company through a lawyer, 49% is yours and your partners (if farang) 51% will be in thai names, (the lawyers will do that for you, but there will be a document which tranfers there shares to you, so you are the complete authority for the company.

you will almost definately not get a work permit for a small bar, for starters your capital needs to be 2 million bht for 1 permit, and you need 4 registered thai staff for each work permit.

i know especially with gogo bars and beer bars, permits will not be issued.

[thaimee]

Dear Victim, would it help if i suggested you donate any and all monies for which you are only righted to lose in the kingdom and make out to my name.

Only laughing, ten percent of all business ventures fail. To support my arguement I state that when you bring your money to amazing Thailand you have infact signed your money away! Thailand is a self made entrepaneur fuelled by foreigners kindness. Save the loot for a rainy day fonzie.

Unfortunately my scepticism is fact. Thaimee.

[SeaVisionBurma]

Fonzie

Although there is something to consider in what thaimee says - ie there are risks involved in what seems a romatic notion of starting a business (especially a bar) - he is also being rather pessimistic (as thaimee himself acknowledges )

Seek sound legal advice, get a decent business plan together - and whatever you think you may turnover in your business in the first 6-12 months - halve it (and double your budgeted expenses)

Apart from that - best of luck and let us know how you go.

ps what have you been up to since Happy Days?