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  1. #1
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    Default Starting a LTD company in Thailand

    Hi
    Can anybody give me advice on how to start a limited company in Thailand

    I just need a few pointers and what steps to take first

    Regards

  2. #2
    Forum Antiquity ความเก่า dan&ploy's Avatar
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    Hi Andy,

    It is relatively straightforward unless you want to do something out of the ordinary.
    A couple of questions first: do you want to be a shareholder and do you want to work for this company? One more, what is the company doing?

    Dan.

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    Dan

    I do want to be a share holder but not , it will be a guest house / bar / restraunt , and i would want to do some work now wouldn't I

    Andy

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    Forum Antiquity ความเก่า dan&ploy's Avatar
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    Well you can't, not for that. Only certain jobs are allowed of a foreigner in Thailand and that isn't one of them. Yes I know you probably know of someone who does it it, it doesn't change the facts. If you have some special culinary skills you may be able to do something. Otherwise you run the risk of deportation.

    Why do you want a limited company to do this anyway? Assuming your wife is Thai she can own and run the guest house. You sit with your feet up in the background offering advice.

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    thats what i was told i needed !!!!!!well i have no thai wife am recently devorced in uk so was looking for a fresh start , so that is the question really then what is the best way to start a company of that type in Thailand ? the guest house / bar / restraunt is already in existance and running for 10 years im in the first steps of finding out how to do all this , bank accounts, Visa , ect ect

    Andy

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    Forum Antiquity ความเก่า dan&ploy's Avatar
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    The only way to do it is to have a limited company but you still cannot work for that company in any capacity unless you have some 'special' skill.

    The limited company has to be 51% minimum owned by Thais so you need some friendly Thais you know and trust. Easier in terms of share capital is that you only have a maximum 39% holding.

    Given this do you still want to go ahead?

    Regarding your visa, you won't get a non-B visa (or you will but it won't be able to be renewed as you won't have a work permit). If you are not married to a Thai then a retirement visa is your only option but that certainly precludes any thought of working in any capacity.

    How were you planning to stay in Thailand?

    Sorry to be so pessimistic but it is what it is.

  7. #7
    Furniture เฟอร์นิเจอร์ the_link's Avatar
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    You could try Scarborough, Andy.

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    Thanks The link But i think you know my answer to that ?!?!?!?

    I dont think a retirement visa applies as im 40

    So ok i can get the company but not a work visa thats ok , But what are the first steps ????

    Before the thai bank account do i need an address ?

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    Premium Member Gary & Nok's Avatar
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    Quote Originally Posted by Andy_69 View Post
    Before the thai bank account do i need an address ?
    Before that, you need a Thai that you can trust!

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    Premium Member toddmeister's Avatar
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    Quote Originally Posted by Gary & Nok View Post
    Before that, you need a Thai that you can trust!
    Easier said than done. I know an American guy set up his business 7 years ago (its a lot easier for Americans to own a company because of some trade alliance or something) anyway he has worked with the same thai guy in his company all that time with no problems, until a couple of months ago when the thai did a runner with the company money. Now the American guy is in a world of legal sh#t trying to sort it all out.

    Dan, I thought I read somewhere that a farang company owner could get himself a work permit if the company had assets of 2million baht or something along those lines?? maybe i'm totally wrong

    Steve

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    Premium Member Flip's Avatar
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    51% Thai, Andy has 39% - who has the other 10% Dan?

    Andy, on the subject of visas - could I ask you how often you plan to come back to the UK once you get yourself set up in Thailand?

  12. #12
    Forum Antiquity ความเก่า dan&ploy's Avatar
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    Hi Flip,

    Andy can own 49% but if he restricts that to 39% he doesn't have to issue so much share capital. Sometimes the 2 million baht share capital that is required for the 49% ownership does not have to be 'real'; it is supposed to be available - i.e. in the company bank account.

    Hi Steve: Andy can only get a work permit based on his own company (his 49% that is) if he is working in a permitted job. Somewhere on this forum is the list of permitted jobs - running a guest house/restaurant/bar is not one of them.

    Andy biggest concerns, in my opinion, is the partner(s) in his business. Does he know them or trust them because he will not be the majority shareholder.
    Second is his visa. He cannot get a work permit for this work (unless he has particular skills in the kitchen or in management that cannot be found here) so the non-B visa is no good to him. That visa will only be issued for three months and then it is supposed to be renewed in Thailand once you have the work permit. He is not married to a Thai so he cannot get one type of non-O visa and he is under 50 so he cannot get the retirement visa which in any case explicitly excludes any work.

    There are lots of other things too of course but they seem to me the first hurdles.

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    Andy, on the subject of visas - could I ask you how often you plan to come back to the UK once you get yourself set up in Thailand?[/QUOTE]

    I plan not to return as little as possible

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    Premium Member toddmeister's Avatar
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    Andy - have you thought of some other kind of business you could get into other than buying a guesthouse/bar?? It's just that on my past few trips there seem's to be more and more forsale signs shooting up everytime all over and the tourism over there is on its @rse. I personally would never consider buying a business ralted to tourism in the current climate.

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    The bars main custom is 80% expat based

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    Premium Member toddmeister's Avatar
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    Hmmm ok. You just need to be very, very careful with anything bar related. Hope it all works out for you anyway

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    toddmeister,

    Yes I am being careful and will not go ahead with anything unless i am happy with everthing , that is why i am very greatful to all the advice i get from this forum

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    Premium Member Phetchy's Avatar
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    Andy, where is this bar/guest house located? I've spent a good few years in Pattaya and never once have I been tempted to consider owning/running a bar. There are obviously bars that make money, and bars that don't. The ones that don't make enough to stay afloat are predominantly the ones that are taken over by farangs who have little or no experience of running any kind of business, let alone one in a foreign country where, as you are already finding out, official red tape and "under the counter" administration make things very problematic. The only bars which make a lot of money do not come on to the market very often. Who wants to sell a bar that is providing a good living for the owner? Conversely, why are there always a number of bars for sale at what seems to be a bargain price? If a good money-earning bar comes on to the market, you can guarantee that it will be expensive and the person(s) that buy it will either have a day job which comes with a tight-fitting dark brown uniform, or drive a black Mercedes, blacked out windows, and Bangkok red plates.
    You say that 80% of the trade is ex-pat. 20% is a significant proportion for Thai trade bar wise, maybe not so bad if that reflects accommodation/food being a good proportion of overall receipts. I don't how much you are intending to invest in this venture, but if I were you I would make sure that you get sound legal advice regarding "ownership" options and where large sums of money are concerned, it is advisable to trust nobody. Where I live on the outskirts of Pattaya, there are quite a few small bars that are run successfully. In nearly every case, they are rented on short term or monthly agreements with the rent typically between 3-10,000 baht /month + utilities with no owners or letting accommodation and 100% ex-pat year round trade. The farangs concerned have Thai wives/girlfriends which takes care of the paperwork, they make enough to cover their monthly outgoings and to provide a modest living only. The reason why these bars are a reasonably feasible option for someone who chooses the bar trade as a way of funding a life in Thailand is that although you have little or no security of tenure, the maximum amount of money you can lose should your landlord turf you out tomorrow or a lightning bolt reduces the place to ashes, is a months rent, any stock you carry and the cost of any improvements you may have done (assuming you start from scratch with no key money or goodwill payment). If you've taken it over as a going concern, then any premium paid for the business will come into the equation. You won't make a fortune but you won't lose one either.
    Sorry that I can't help you with the ownership issue, and if I've covered things you may know already, but this could be a minefield and it sounds as if you are going into this venture needing to find out a heck of a lot more detailed information before you can consider it to be a viable proposition.
    Good luck.
    Phil.

    "Good judgment comes from experience, and often experience comes from bad judgment."

  19. #19
    Premium Member Gary & Nok's Avatar
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    Quote Originally Posted by Phetchy View Post
    the maximum amount of money you can lose should your landlord turf you out tomorrow
    See my "Death of a Bar" to see that this has just happened to a friend of mine, and she is Thai!

  20. #20
    Admin maokaang's Avatar
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    Quote Originally Posted by Phetchy View Post
    You say that 80% of the trade is ex-pat. 20% is a significant proportion for Thai trade
    He didn't specify, but perhaps the 20% are mainly holidaymakers, rather than Thais?
    Paul พอล
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