American Starting A Small Business In Thailand. Helpful Information Please.?
I’m an American interested in buying a bar or a small business in Thailand. I have about 20k I can invest and was looking for some information on visa’s, taxes, and legal issues on americans owning businesses in Thailand. Possibly interested in investing with another person that knows more about how this works. Thank you.
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- difficulties in starting business in thailand,french starting business in thailand partners,only americans can own business in thailand/,opening a food business in thailand,opening food business in thailand,should we open business in thailand right now
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You can get a residence visa without investing in a company. You have to live for 3 years without legal problems, then take tests, etc....
Wait for a while. The current foreign investor rules are not clear. You would have to put 30% of the money invested into a non-interest bearing account based on the current rules.
Do your due diligence carefully. Do you have 5 or more thai people you can trust with your money? That is what it takes to have a corporation in Thailand.
Please review the following website. www.thailandguru.com, it is written by an American who moved to Thailand around 12 years ago. His information is current and pretty honest and he does have his own service if you so desire someone there. He is into computer so he could help with a website if needed also.
There are many issues involved. One is the affect of the NYE bombings on tourism. Which if you owned a bar or any other business is critical.
Do some reading also. Keep track of goings on in Thailand. I like www.bangkokpost.com it is fairly politically neutral and in English.
Personally, I would invest in real estate there. Businesses come and go. Real estate is another animal altogether.
you may want to go and ask dispatcher living in thailand at
forum.thaivisa.com
things to recommend you,
learn in depth the business you about to get your hand on. don’t trust any one more than your self.
doing pub and bar in thai, you may have to deal with mafia (thai police is considering a mafia. a very big and bad one.)
hotel or guide tour busi seem better to me. anyway good luck.
I think you should contact our Ministry of Commerce web site (via google first), I’m sure there’re certain sections there ready to help you or advice you with useful information. Good luck and welcome.
You might want to reconsider it. Foriegn own businesses in Thailand, the owner will face problems of corrupted government. It doesn’t matter the regulations you might read from the internet,every step of the way will require under table money to get through. I could tell you the details and law of setting up business here, but I hope after all the above information, you would change your mind.
Listen to the others. Your idea isn’t good. Forget it. Don’t be a sucker.
Not a good idea, as all the others have said. Also, there are so many bars in Thailand, you would need some gimmick and a lot more than the USD 20k you have. Bars, like some other businesses, usually have added problems (fights, police kickbacks, organized crime, etc.). Look into another line of business. To start any business in Thailand, you need Thai partners (who may or may not be looking after your interests), put up money into a bank account, deal with rental agents, etc.
In short, USD 20k is much too little to do anything with. I have looked into a start-up book publishing business in Asia; I think I will need at least USD 150,000 or so.
Two things to consider and which are fraught with problems are obtaining a work permit and having a Thai partner. This adventure is not recommenced for the weak kneed.
God…..one more fool who want to open a bar. Hear me, if you can not place your bar direct on walkingstreet in Pattaya or Nana in Bkk, then don’t make a bar. Or you can be among the hundreds who every year have to sell there bar again, loosing all they have investet, because of no income, bad staff etc. The only thing you can and will, is loosing your money. Find another thing to do. Anyway, I havent seen anyone invest without loosing in the end.
Rule number 2. Never make partnership with anyone in Thailand, not with thais not with foreigners living here already, and most of all, not with your Thai girlfriend if you have one.
If you want to own a bar because you like the ladies, this is not usually a good idea — If you are the lovable boss, they will take advantage of you and then the entire relationship becomes adversarial which is likely either way.. The business can be alot of aggravation, and I think the figures that I have seen are that 90% will lose money… Really knowing the ropes here can take a long time if ever – - lately they are changing things too..
If you invest with a partner, especially one you do not know for a real long time, that is another potential likely source of BIG problems.. Is it likely that someone else might do things all the way that you like? What if he gets drunk and not only consumes the profit but acts like an embarrassment?
HOWEVER – I have a great solution.. If you want all the fun of owning a bar, then just find a bar you like and go in as a customer.. buy a few drinks.. the girls will all love you and in a mere couple of days – that will be your bar.. [ so to speak ] – They will shout out your name like “Norm!! at Cheers.. Everyone will love you and it will be cheaper and more fun in the long run.. You can do this at several bars.. If you are looking for a hangout, that works best.. good luck to you.. but seriously think not 2x but 50x before going into something like this
It will be good if you can head over and ask the owners themselves how the business is run. Not everything is textbook style. There will ba many unseen regulations that you will need to abide if you do want to start.
You will also need legal advices on the regulations. So you will need to find one. See if you can fulfill them.
Best to do all your ground works before you make any move.
Thailand doesn’t make it easy for you as a small business owner. i would never try it