Can a farang own a business in Thailand?

[f0xxee]

Gents,
Now is a pretty good time to be looking at buying a business in LOS, and I agree that Rossco's idea about a guest house is most sensible.
For every Cocktails and Dreams /Ezy Bar success story there are (I am guessing) 20 failures through not understanding Thai business practices and principles, drinking the profits, falling in love with a wallet robbibg monster etc etc etc.
A guest house is a very good way to earn a living while staying relatively low on the radar: a better way to go. Your input can be high but can remain in the back office which really is what the Thai's want to see: they HATE seeing a falang take a job from a Thai, as an example a neighbor recently got yak-yakked for cutting his own lawn. "Job for Thai man!
Should you go the Guest house route pick your location and market appropriately. HH where I live for example is surrounded by golf courses and Rossco's point again about golf deals makes sense. Also HH is now the prime place for Bangkok Thai's to go on weekends: they see themselves as HiSo and would love western ideals of service and cleanliness in their rooms. Pattaya generally speaking offends them (no offence to Pattaya BM's!)The Pattaya Bay Resort must (or it used to seem that way back when i wuz single) be 60% occupied by BM's from this and other LB  forums. So know your market and where you fit in.
Teaching english: I am told now that it is necessary to have a degree of some nature and a teaching certificate of some discription to teach in Thailand.... Can anyone confirm?
Singapore and KL (Malaysia) both have far more employment opportunities and are more open to falang employment. Google the "Straights Times"  and "Singapore Expats" for more jobs there. Both are cheap flights to LOS for weekends and both have ladyboy communities if that is the sole motivating factor. Vietnam is probably the hotspot for falang expats to make a buck a the moment, as the economic crisis seems to have bypassed it. They tell me Cambodia is the new cheap hottie for investment, but in honesty I have spent 36 hours in Cambo and that was 33 too many.

[TEXASMAC]

Today I saw on Craigs list a bar in Phuket, it has the bar, pool tables close to Kamala Beach for 600, 000 bhat it has pool tables and three rooms to sleep. But what I will do that I did not do for my marriage is INVESTIGATE. Oh yeah it has 2 1/2 years left on lease

[Mister Ree]

Today I saw on Craigs list a bar in Phuket, it has the bar, pool tables close to Kamala Beach for 600, 000 bhat it has pool tables and three rooms to sleep. But what I will do that I did not do for my marriage is INVESTIGATE.  Oh yeah it has 2 1/2 years left on lease

Do that. There are many, many bars for sale in Thailand now. Look for locale-specific bulletin boards. You'll find lots. Remember also that online postings often list a 'sucker' price. Better to have a look around when you're in-country.

Actually, better to spend a year or two here and get a real sense of how things work.

[TEXASMAC]

What people like on Craigs List? I am stunned !!! Next you will say that I am not really a Hadsum man like I always get told in Pattaya.

[f0xxee]

Really Mac you need to spend a little time here learning the ropes... that seems to be the common theme through most replies to you.
It all changes when you stop spending money for short time thrills and start looking at the big picture. True friendships seem harder to make and many prey on the lonely expat and not only bar girls.
Many ditch the missus and sell up what is left over after a messy divorce and come to Thailand as to live but spendas though it is only a holiday. In fact to make the move you are to an extent cutting yourself off from a lot of security. Once the nest egg is gone it's gone my friend... as a lot of the suicides would suggest. There are many expats here who have come seeking a new start only to end up in worse shit then they immagined...

Please be very careful and move slowly.

[TEXASMAC]

Wise words.

[dixon cox]

(TEXASMAC @ May 15 2010,17:52) I can live quite comfortably for 18 months ...

Right now I could live in LOS quite comfortably for 10+ years, but I still wouldn't do it until I have the means to live there indefinitely. In other words, a sufficient income from farangland through various income streams, such as property rental, investments, pensions etc..

As others have said already, unless you get posted there from farangland the chances of making sufficient money out there to reasonably live on would be minimal at best, coupled with high uncertainty and frustration.

I wouldn't trust the Thais with my future, so I'll bring my own when I'm good and ready  

[guydesavoy]

(dixon cox @ May 31 2010,01:10) I wouldn't trust the Thais with my future, so I'll bring my own when I'm good and ready  

Words to live by

[f0xxee]

I've just bit the bullet and bought a house here in HH. (Bitten the bullet? Engrish so hard lah!)

I used an english lawyer (cost plenty, around 53,000 baht) and all contracts (it took 4) are in english with english being the language to resolve any future conflicts. This is not home, and absolute care must be taken with due diligence and contracts.

The number of expats in HH who have had trust funds diddled, power of attorney rights abused, contracts being voided and other legal mayhem in thier lives caused by signing blindly with Thai Lawyers is scary. If this is so in HH, I can only assume it is worse in Patts or BKK given that there would seem to be more shysters running around there.

I bought  from and Expat's wife of very good standing, but still locked her and her decendents into a contract for my life and also my offsprings (which, unless I get Mrs F prgnant and given her lack of pink bits its a long shot)  
Never has the expression Caveat Emptor been more valid.

Not every expat is to be trusted either: many are as deceitful and conniving as their thai counterparts, so dont think that round eyes equals an honest Joe. They may just be a more sophisticated scammer. This is why you need to live here for a while and work out who's who in the zoo.

Word is that limited companies to buy houses are to be scrutinised far more closely in the future, so most agents in HH will only sell on a 30 x 30 lease.

Follow all thai rules and regulations and don't take shortcuts. Remember that you can get justice in this country if you play it their way, but if you try to circumvent the process to your advantage you are swapping short term gain for long term pain. IN MY HUMBLE OPINION!

Be careful out there!

[manarak]

wise advice f0xxee.

To all who are buying on a lease scheme: get an usufruct at least for you and possibly for your children.
It might last longer than a lease.

[johnnydiver]

Great advice on this thread! I have read every post and am impressed with the sincerity of the board members who are watching out for us newbies! Thank you all!

Johnny