Can a person with a retirement visa open a business in Thailand, and what are the ownership conditions?

@Jorge ***

ok if you buy land of property it probably works. Starting to understand now. 🙏

@Russell ******

you got it! Many people like it here, want to stay, and also want to "own". The benefit is that the land they buy sells for more than the cost.

@Russell ******

sorry, cannot comment about what details are in the company info, after all, it is private, and the other two "nominees" each hold less than 51%. This type of business does not generate funds. It is a front. On the other hand, many foriegn companies set up businesses. They have to be blessed by the Board of Investment, BOI, get all the permits, drop money on the co., and hire a few locals. There have to be a minimum of them before a work permit can be issued to a foreigner. It can be done. There are many multi-national companies doing buss here but it takes $$$. I used to know a guy who ran a sole proprietorship. He had to report income in excess of 50k/mo for tax purposes, and get a Non-O buss based visa every 3 moths. This allowed him a work permit. No visa extensions, and yes, visits to embassies outside the country ever 3 mo. Lots of leg work. That was >10 ago. YMMV.

@Jorge ***

but it must be easy for them to do that as there contact details must be on the company information ? I guess you just live in hope they don't interfere. All sounds so complex and what do the government achieve from the business funds going to a foreigner, just tax ?

@Russell ******

well, that is the purpose. Picture this: the 2 or more who, on paper "own" the 51%, want to sell the buss that you have funded 100%. Since you are a minority holder, they leave you holding the bag. This is, of course, if they can get together and talk about it. Mostly this "business" is setup as an offshore company so it could buy land normally forbidden to foreign nationals. You would then control it, not them. An old trick by now and even the government, on occassion, threatens to stop this practice. Chinese, Indians, Europeans, and others, have lots of investments here using business companies as front. Clever.

@Graham *****

do you think the government can ask the Thai parties to close the company ?

@Russell ******

The point is a foreigner cannot legally own more than 49% of a Thai company so you have 51% of Thai "partners" to meet the requirements.