Can a farang own a business in Thailand?

[TEXASMAC]

I have read so many darn articles my tri -focals are going crazy. Can a farang own a business in Thailand. I am now 50 and want to move but not rich like Stogie. I am a computer idiot so thats out so maybe I can run a 7-11?

[Snick]

if you are an american, you can own a business outright under the 'Amity Treaty' -- this is a special treaty between USA and Thailand.

Another option is you can apply for BOI status and then you can own your company outright -- as long as you maintain BOI status (which must be renewed every 3 years). This is for medium-big businesses.
http://www.boi.go.th/english/

Otherwise you cannot own a majority of the company, you can setup a proxy structure where some Thais technically own shares but you control them. A lawyer would have to set this up for you.

[kahuna]

And just why would you want to own a business in Thailand?

[TEXASMAC]

I have to work. I am not a computer expert like some. Unless some young LB will sponsor me? The guy who runs Pars Place is an Aussie but he told me he has to lease.

[Bumpa STIKKA]

How much do you need to earn?

This will be important in deciding if you can make the move.

Owning a business in Thailand is a lifetime of frustration. You'll never get a 7-11 franchise but even if you did manage to find the start up funds for one you'll be ripped off every second you are not actually behind the counter AND checking deliveries.

I'd live here first and work as a teacher for a couple of years before you decide to try something as challenging as owning a business.

[deepthroat]

You know what they say -

Q: What's the best way to becoming a millionaire falang running a business in Thailand?

A: Start with two million.

*rimshot*

[PigDogg]

(Bumpa STIKKA @ May 13 2010,21:30) You'll never get a 7-11 franchise but even if you did manage to find the start up funds for one you'll be ripped off every second you are not actually behind the counter AND checking deliveries.

I've often wondered about this because it seems in most 7/11s it's just a bunch of teenagers behind the counter and I rarely see anyone who looks like an owner on premises.

[Bumpa STIKKA]

Olay worked in 7-11 for two years!

[PigDogg]

Next time we get together I'd like to hear about what measures the owners have in place to stop shrinkage.

[kahuna]

My Pattaya Princess worked at a Pattaya 7-11 for a while...

For what it's worth, she just told me, "Farang no own.  Only Thai own."

Must be the 7-11 Mafia...I suppose there is a Family Mart Mafia as well...

[robbo]

7-11 is a franchise operation in Thailand part of a global franchise network.
i wouldnt go there with this idea convenience store in Thailand......id go back to the drawing board Texas if i were you.
best as Bumper says go and live there with funds for a year make friends pref a mature thai girl who can aide with language etc or find a job.

[f0xxee]

My understanding is the royal family are the largest owners of 7/11 franchises in LOS.

Anyone else heard this or is it another Thailand furphy?

[guydesavoy]

(TEXASMAC @ May 14 2010,09:46) I am now 50 and want to move but not rich like Stogie.

Someone should tell Stogie  

If you want to make a living plying a trade or in some kind of business, one idea would be to hook up with a smart entrepreneurial LB and open a shop in one of the markets/MBK etc... (shoes ?). Had a mate with a Thai gf, now wife, who did quite well in that area.

Anyway as BS says, best to come over and check it out first

Good luck Mac

[rossco]

Owning your own business anywhere always requires much more work than just being an employee.

It is not easy for a Farang to own a buisness - and by business I mean a regular type business (not a bar/brothel).

You can have a correctly registered business and for every 3 full time Thai employees you get one Foreigner work permit. Thai employees means they have a contract of employment and salary and you apy all the social charges.

The business must have a capitalised value of about 2 million Baht. Expect to pay extra for the privilege of having a business here. Seriously.

You should see a good English speaking commercial lawyer/accounting firm before you consider anything.

Speak to other Farangs who own businesses/bars here. Cross reference all you glean and doubt the integrity of same!

Unless the business is a properly registered business the accounts/profitability presented will be garbage. You need to sit and observe the business operating to get a 'feel' for true turnover etc.

If you are looking to a more casual business like a bar remember a few key points (non negotiable):
* You as a Farang can lease the building - you cannot own it. Most leases here demand that the tenant is responsible for all building fabric repairs - not like the USA/Europe
* You CANNOT work in your bar - you just bank roll it. You may not serve drinks nor walk behind the bar/serving area.
* In theory you should get a bin like any customer - not generally followed but some asshole could determine you are 'earning'' by drinking for free.
* You need a Cashier &/or Mamasan that you can trust - this alone could be a whole thread!!
* How many hours a day/week are you prepared to sit in your bar - when the cat is away the mice will surely play!
* Do a business plan.
- How much are your outgoings - Rent/Salary/Utilities/Sundries/Fees
- What is your market - you are competing with thousands of other bars.
- How many drinks do you need to sell to break even each month (assume drink profit is 30 to 50 baht)
- How much do you need per month - CLEAR of all costs/commitments?
- Will the premises provide you with accommodation
- Learn some Thai
* Assume that you are going to be ripped off!
* Do not drink your profits nor have relationships with staff. That is the difference between a hobby (costs money) and a business (makes money - well tries to)

I knew a bar owner in a complex - he would not trust his own people (including Thai partner) to do the stock count - he used a cashier from another bar to do so.

A lot to consider

[TTChang]

   good advice from 'Rossco's Unique Business Management Enterprise'  (RUBME  )