Can a farang own a business in Thailand?

[Ivor Biggun]

Live long and prosper- don't go into business here!!! I was lucky after 2 years just above broke even on what I put in, the place has plummeted since and not worth a red cent. The big difference for me as well was that I wasn't dependant on the income. Most people who say they are making big money here are LYING!!!

It's not worth the hassle. If you need to earn spend half the year somewhere else making the cash and half the year here spending it

[TEXASMAC]

I can live quite comfortably for 18 months and I like the teaching idea. Thanks for all the info.

[deepthroat]

Good luck TM. I think you might need it.

If you have no computer skills, that's a real deficit. And teaching jobs are highly prized and lowly paid amongst English speakers, so there's usually far more applicants than positions.

As for owning a business - talk to Bob at Bob's Texas BBQ in Pattaya if you want to hear just how frustrating/discouraging running a business in LOS can be. Poor guy, I actually avoid the place now because it hurts me just to see how tired/frustrated he always is.

I think it takes a certain temperament to be able to pull it off. You have to be able to accept TIT, flakiness, theft, deception, and still find a way to meet your goals without losing site of the fact that the odds are often stacked completely against you.

Besides, after "living comfortably for 18 months" in LOS, some expats decide it's a nice place to visit but they wouldn't want to live there.

Keep us informed please!

[PigDogg]

(TEXASMAC @ May 15 2010,10:52) I can live quite comfortably for 18 months

Two key issues are:

1) Will you be able to get a good job when u return to the West?

2) What will you do with your stuff?

Sort those out and there's no real reason not to come over here for an extended stay.

[farangbah]

Well, at least it's a comforting thought that -- presuming it's the same for most or all foreigners -- those middle-eastern suit shop owners are getting bent over as well...

TM, there is also the alternative of moving closer to LOS, and easily visiting frequently . . . a more comfortable and relaxed place, with job opportunities, and a better standard of living . . .  like, oh I don't know, off the top of my head, say, Japan?

[rossco]

Texasmac

Just an illustration. I know the Realtor and he gets fed up with the time wasters who have done no pre planning/thinking

VA1008
So the Key Money is 1.9 million
Annual receipts are 1.6 million
Monthly salary/rent 60K = 720,000 per annum

So you will need to operate for at least 2 years to break even.
Of course when you sell you should get the key money back
The biggest killer is Cash flow and the fact you must pay out 1.9 million up front is key to any plan.

Look at some other 'opportunities' on his site.


http://sn114w.snt114.mail.live.com/mail....b7f6c3d

[TEXASMAC]

Thanks rossco and all BM's. As to questions I dont have much stuff as ex-wife got most of it when she caught me with ladyboy. As can I get a job if I come back I think so I am good at what I do. I would never even try the bar thing I was just curious after speaking with the gentlemam who leases Pars Place which is where I stayed last visit.

[rossco]

That is why I sent you info on a Guest House.

A good guest house can charge 400/800 per night. So you hook up with a Golf society that has visiting golfers.
You provide post match buffets etc etc.

You now have a way to build an all year clientele at the same time as attracting the usual holiday and whore mongers

You also avoid all the normal problems associated with a bar. The main problems with bars is the owners!
They see a 'glam' lifestyle where they can drink and banter with patrons and shag all the staff - while in fact he is the one actually getting shafted/reamed and blown away by the staff and the customers.

Simply put:
In a Guest house a guest rents a room and he pays for the room
In bar the customer tries to rent the staff without paying

[TEXASMAC]

I am thinking teaching for a while if I want to keep busy and learn the area and look for a possible Guest House.

[jimbo34]

or Singapore.

Many sensible comments on here, and good advice. I always wince when somebody says they're coming to live here and try to earn a living. You have to be INCREDIBLY lucky or astute to make enough money to "live the dream".

Could your assets be put to work in order to earn you an income? E.g. Renting out your house? Investing your cash in a good quality investment fund?

Forget the 7/11 idea - it isn't going to happen.

You say you're useless at IT, but maybe you have some other skills that could be put to use here. Even if it's not enough to earn you a full living, it could chip in, and with a combination of that plus some investments, may be enough to make it pay.

Like you, when i turned 50,i decided enough was enough in the UK. I'd had 3 businesses during the previous 30 years, and i just don't have the energy or inclination to start all over again. I got incredibly lucky with the buy-in at C & Ds, but the first 2 years was quite painful, and things turned in the nick of time. I hadn't much longer before i would have had to return to the UK as another failed expat, or plunge in with the last of my assets. Don't get caught in that.

Think long and hard before taking the plunge.

I'm sure there's more i should say, but i'm starting to ramble, so i'll stop here.

Best of luck, whatever you decide.

[Steff]

Jimbo,

Your honestly is valued. Your efforts appreciated. Your stalwart dedication is solid, brave and does not go unnoticed for an instance by most of us. I will make my first visit to Phuket in July and if nothing else, the trip will be tremendously rewarding just to have an opportunity to shake your hand and buy you a yard of whatever your fancy might me.

Steff

[TEXASMAC]

Thanks Jimbo, I have been in the planning stahe since last year. I am not the type that rushed ahead. I was actually surprised I made the first trip last May after only planning for 6 months. I am not sure I would have made the trip so quick except I wanted to attend the Big Bash. I will make my two 10 day trips a year and I will keep making contacts and learn and listen from all you gentlemen.

[manarak]

(rossco @ May 15 2010,14:04) 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.

I was always surprised that bar owners didn't invoke that rule to obtain a work permit to work in their bar?
Isn't it possible to get such permit as a bar owner when there are 30 Thai employees?

[jimbo34]

Of course it is. And advisable too, if you want to avoid problems with the BIB. It's just that too many barowners are lazy, don't know the rules, or try to avoid paying the (relatively) small costs.

[manarak]

(jimbo34 @ May 29 2010,00:26)  Of course it is. And advisable too, if you want to avoid problems with the BIB. It's just that too many barowners are lazy, don't know the rules, or try to avoid paying the (relatively) small costs.

That proves again how dumb many people are, they keep repeating to everyone that one is not allowed to work in his own bar... Why don't they just apply for a permit, FFS?

TexasMac and all the others interested in doing business:
Crosscheck every info you get, several times. Don't believe anyone without checking that what he says is not bull.
(this is true for every country, not just the LOS)


On a totally unrelated note, does anyone know the building costs for a 100 room hotel?
:-)