Talk to

@Amanda *******

at Settle in Abroad she can help you

Sending you a message, we can help you with that

@Руслан ********

correct

@Руслан ********

I don't think they are but it all depends on what exactly yoy need. If you have the contract ready in English then it's a translatiin to legal Thai language. If you need us to draft the contract then that would add to the price. Also depends on the size and complexity. Happy to jump on a call to discuss your needs and then give you a quote

@Руслан ********

work permits are based on company capital, type of work the foreigner woyld be doing (lots of restricted roles), number of registered local employees, a min salary of 65k, sufficient turnover in the company to justify the permit. Lots of paperwork but it gets done dozens of times every day all over Thailand

@Руслан ********

this contract sets out your investment in the company, the distribution of revenue and cost, decision making processes, sets out a strategy for the company/partnership. Should be very clear on process, decision making, startegy and it should also have an exit plan for all shareholders. To be legally enforceable in Thailand the contract needs to be in Thai and your Language but the Thai version will be the driving force for any issues. I urge anyone to ensure they have a solid agreement in place and that all partners understand the contents and it's intent. This will majorly mitigate problems down the line. I have in house lawyers who can draft such documents if thats any help.

hi Cullen - I am with James on this. There are many opportunities for business that don't require millions to buy/invest in. I have customers who have invested much less than you in a small business with a Thai partner and they have been successful. It is also true that many have failed at business in Thailaand and that is generally becuse they did not have the right mindset and skills for it. So find an existing hostel that is struggling, research why it's not doing well, is it in the right place, do they manage their money well, etc. If you can contribute to turning it aroud with your 200K and your expertiese then set up a solid contract for the investment. As a part owner you are allowed to oversee your investment and take part in decisons on the company. You are however not allowed to work without a permit. If you have the extra cash to invest in a workpermit then you are all set.

The process to set up a business is very clear. It has many steps but essentially you need to reserve a name for the company, submit a number of documents such as articles of incorporation, memorandum appointing a director, copies of a lease agreement for where the business is to be located. Shareholder register and ID copies etc. Depending on the type of company there are restrictions on shareholder distribution, min 2 shareholders, if you need workpermits then a capital of 2M thb per work permit. Then you need restaurant licences, alcohol license, entertainment licenses, open bank acounts, VAT and Social Security registration. Budget USD10-15K for the whole process. All documents must

about 2 weeks to get the company registered.

@Rod *******

of course

Go and see Dr Gerhard Melcher in Phuket. He is world class ortho surgeon.