Employment, Self Employment, Being Lazy

[chris55555]

I got back from Phuket a few weeks ago, I now plan to move there. I'm considering all options while also saving the cash, I currently have a reasonably good job in London, UK.

I'd love to hear folks ideas for opportunities for hard working people, I've previously managed bars, but an considering being a teacher (I've got a degree), selling real estate (I've also done plently sales work) or just coming back to the UK for a couple of months a year to save up and fund my life out there.

Any thoughts, ideas, suggestions regarding which would be the best plan would be appreciated. Investing a couple of thousand pounds/euros/dollar in something is also an option, but I'm not keen on investing until I know more.

Fire away guys...................

(Scottish) Chris

[Nicke]

You are not the first one with these thoughts...

So we got plenty of bars, plenty of real estate companies lately and also a lot of new TEFL certified teachers

[geespot]

Chris

Have a look at this website

http://www.modernthailand.com/eng/investment/advice/

Foreign business and employment restrictions are extensive in Thailand - Nicke is right look for a niche market and more than one acctivity or income stream!!

[far_man2]

I strongly suggest you keep your good job in UK...save money...try and get more time off and visit Thailand as much as possible...Staying for a long extended period of time, 1 year, is probably something I would never want to do again. Will definetely change your attitude about the place.

[hugos]

Originally Posted by far_man2

Staying for a long extended period of time, 1 year, is probably something I would never want to do again. Will definetely change your attitude about the place.

Youre right. Have been one year in thailand and would never invest my money there.
Work with an acceptable salary you will find in bangkok.

However, good luck for you.

Hugo

[jay]

If you decide to teach english it will be the biggest mistake of your life the pay in thailand is shit for tefl ers, you will get less time at the beach then if you stay in the uk and come on vacation. Check www.daveseslcafe.com about teaching english, don't do it, not in thailand at least.

Cheers

[orientalbreeze]

Hi guys,
I am moving to Phuket around Aug. 17th (2004) and am going to set up an internet business. I do online marketing and I sell an ebook.

I just got the 3 months tourist visa. Can I set up a business in Phuket and what are the costs involved????

I just read on http://www.phuketgazette.com/issuesa...ils.asp?id=165
“If you want to register a company, there must be least seven investors. The cost of registration will depend on how much capital is put into the company.

For each 100,000 baht of paid-up capital you must pay 550 baht for registration of the company. This mean if your company has paid-up capital of one million baht you will pay 5,500 baht for registration.

However, to “To apply for work permits, a company must have paid-up capital of two million baht for each work permit required. So, in your case, your company must have capital of at least two million baht.”

My other question is, how can I get around the two million bahts that is required to get e work permit? Also, do I need 7 investors and if so, can you make it so they don't have any influence over the business?

Is this up-to-date information that I have??...I am not sure myself...

If anyone could answer some or all of these q's, I would really appreciate it cause I am a total newbie to this..

Thx all for your help...
Johan

[Nicke]

I think the real cost to setup a company is around 15,000 baht (taxes and fees) but you may have to pay for help so 25,000-30,000 baht should be expected. You can own only 49% and 51% must be held on your other shareholders. I also think one of the directors in the company must be thai these days to be able to apply for work permit.

So you need 6 other people as shareholders. Some companies may help you with that. To protect yourself from claims, you should have transfer of shares paper signed by your shareholders.

I dont know if you have to verify the 2 million baht or not these days, in the past it was just numbers on paper.

This is just a guide, I am not a lawyer or expert, so you should contact a lawyer for up-to-date and accurate information. This is not difficult to do yourself if you have a Thai friend who can help you and also staff at Company registration office is very helpful to help you with papers if you pay them some money for the paperwork.

[orientalbreeze]

Thanks a lot Nicke for that useful information. I have seen that some companies will take care of everything for you (ie work permit, visa, tax id, and other governm fees) as you said and I pay them around 35000 baht or so for everything....Then I pay them around 2500 baht a month for tax and VAT...
Is this legal or can I get into trouble if they do it for me (ie if the government ask me for the papers can I show them and be ok)..I just want to do everything legal and not risk going to jail... Sorry for my lack of knowledge in this..
You also said "staff at Company registration office" can help me with this. Where can I find this one?
Thanks a lot Nicke and appreciate all your help in this...

Johan

[Nicke]

This is legal. The only problem I can think, which they wanted to follow up few years ago, was that the company had real investors as shareholders. Because they found out that a large number of companies had the same shareholders, e.g. a lawyer used the same names for all companies he setup.

Nothing happened thought.

It may be an easy way to pay people to do everything for you but you are responsible at the end. It also may be an good idea to learn how this work, e.g. learn the prcedures and where the offiices are located, Labour department (Work Permit), Company registration office (all documents for your company), Revenue department (taxes, guarantee paper for work permit renewals) and so on.