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Dr Coolbreeze
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Although I've only been to LOS a few times, I love it. Now I'm considering ways to finance living there. I'm a bit of an entrepreneur, and have started, bought, run, and sold several small businesses. I also have a day job that stabilizes the ups and downs of owning a business. I'm thinking of setting up a thai corporation, which will own one or more businesses in thailand, that will hopefully provide enough income that I can quit my day job and allow me to move to thailand sometime in the not-so-distant future. Now I just have to consider what type of business. Then the next step will be to select the officers of the corporation because, as most of you know, farangs cannot own property or a business in Thailand, or at least not more than 49% of it.
I want something stable that won't be so up and down like tourist-oriented business can be. That leaves out bars, hotels, massage parlours, restaurants, taxis/limos, etc. Believe it or not, I am thinking about buying a farm. Of course, there are ups and downs due to supply and demand issues from year to year (and droughts, floods, locusts, etc), but even so, it seems like it may be more stable than a lot of businesses can be. Of course, I wouldn't actually live on my farm, one of the corporate officers can do that. I would live in one of the cities (haven't decided which yet).
Questions:
Have any of you bros tried this?
If you answered yes to the above question, what are your thoughts, considerations, warnings, etc. on this idea?
I'm not looking for minutiae of legal/financial issues here (that's what lawyers and accountants are for) ; I'm really looking for practical considerations.
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Thai Girls : Meet Sexy Thai Girls
Posted on: 7:14 pm on June 13, 2005
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bkkfella
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I suggest you also consider just finding an absentee owner business in the US/UK/OZ. It is much simpler to do, you get to own it all, and you avoid all the annoying restrictions here in LOS. Plus Western earnings go a long long way here in LOS and are easy to bring into the country. Thus your investment can be smaller.
As for Immigration, if you buy a 3MBaht condo, I think you can get a long term visa and solve the border run problem..... unless of course you are over 50, then it is easy.
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Bangkok Women : Meet Sensual Bangkok Women
Posted on: 7:28 pm on June 13, 2005
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BigDUSA
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I may be wrong about this but I think farming may be a prohibited occupation for falong.
Check out www.thaivisa.com
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Thai Girls : Meet Sexy Thai Girls
Posted on: 9:15 pm on June 13, 2005
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Dr Coolbreeze
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Thanks for the heads up BigD.
I just checked out Thai Visa, did a cursory read, and it appears that a maximum 30% to 40% farang ownership rule may apply to a farm. I didn't see anything where farms were specifically exempted from foreign ownership, but I'll give it a more thorough read.
Of course, if I'm going to grant even 1% ownership to thai partners, I've got to be able to trust the parties concerned - always an iffy proposition (not because they're thai, but because they are human, and humans can get kind of funny where money is concerned).
Has anybody else heard about any foreign prohibition to owning a farm? Alternatively, I could always lease the land, rather than buy it...I'd have to make sure I had a pretty iron-clad right to renew the lease built into the contract language.
Does anybody know a lawyer specializing in Thai-Farang business law?
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Bangkok Girls : Meet Sexy Bangkok Girls
Posted on: 10:00 pm on June 13, 2005
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richie rev
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Dear Doc, let us use logic one on one. Is a farm also known as 'land' ? Can a foreigner own 'land' ?
You can do it through a company and share issues and voting rights for example, but when a foreigner owns a percentage of a company which is looking to buy land, they will look at it very closely and even though you may own less than 49% you may have a very hard time with it. Even if your percentage is as low as 30%.
I have not looked at the restricted occupations for foreigners lately, but I remember some time ago that farming/agriculture was prohibited and reserved for Thais only. After all they do not want to see rice fields full of backpackers do they.
Do you have a Thai partner or wife you trust to have your land in her/his name ? probably not.
How long have you lived in Thailand for ?
What sort of farm do you want to have, chicken, goat, pig, corn, rice, organic vegetables ? Do you have farming experience before ? Do you realise that subsistance farmers in Los are just that, they barely make a living out of it.
What are you going to do when your crops are overcome by drought, pests, disease ? What will you do when the authorites want to kill all your chickens because they have brid flu, your pigs because they have foot and mouth and your dog because it has rabies ?
Best you keep human partners out of it and get a few cows involved. There are plenty of them in Nana Plaza and Patpong. Oh and a good thai/farang lawyer frequents Patpong as well, kill two birds so to speak.
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Thai Women : Meet Matured Thai Women
Posted on: 10:17 pm on June 13, 2005
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BigDUSA
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Think about this as a business. Many single baby boomer's with high pensions are retiring. Some will be looking to move overseas as their pension will go further.
Start a consulting service that brings them over sets them up in an apartment, condo, house. Shows them the ropes and handles all the paper work. Easy to find customers when you place ads in police, fire, government worker mags.
For you, low start up costs and you make your money off of the standard Asian 10% commission. Plus you can get a legal work permit.
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Bangkok Women : Meet Beautiful Thai Girls
Posted on: 10:39 pm on June 13, 2005
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bkkfella
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I have not looked at the restricted occupations for foreigners lately, but I remember some time ago that farming/agriculture was prohibited and reserved for Thais only. After all they do not want to see rice fields full of backpackers do they ?
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What they do not want is Con Agra bringing over heavy machinery and putting all the little farmers out of business. Automation is a change hard enough to deal with. Having the money leave the country in addition to all the unemployment is what would be intolerable.
For legal advice in business contact Sunbelt Asia. They are very reputable.... the best AFAIK. They also have pages and pages of businesses for sale.
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 10:47 pm on June 13, 2005
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Blattsucker
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Dr. Coolbreeze, I don't know if this will be a big help, but I remember a post from THE FRENCH GOAT who lived up shitcreeck....... uh........ upcountry I mean. He told about what he was doing there to make a living. It could also be that he was just a retired guy with some hobbies, but it sounded all a bit under your level.
I think he got banned so you have to use the searchengine or wait for somebody who is knowledgable of him to fill you in on his exploits. He was not living in a city and he was doing a lot of work himself. It could be in the ANYWHERE ELSE IN THAILAND forum (my first guess, and read all of those anyway) but it could also be everywhere else.
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Thai Girls : Meet Active Thai Girls
Posted on: 10:59 pm on June 13, 2005
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scobie
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I've asked a couple of the lawyers here in the office about this issue of farang farmers. They confirm that farming is one of the professions restricted to farang. However, the law is less certain on the OP's question.
My lawyers say that so long as the guy is not DIRECTLY working as a farmer, he should be ok. There is nothing to prevent him setting up his corporation and buying a farm, which can then be staffed and 'managed' by Thais. At least, that's their reading of the letter of the law, but they say they've not heard of it being tested in the courts yet.
Their view makes sense. It's perfectly legal for a foreigner to own shares in a Thai listed company, even if that company is engaged in some businesses which might involve some of those restricted occupations.
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Thai Women : Meet Matured Thai Women
Posted on: 1:52 am on June 14, 2005
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dirty guru
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I am doing it now (just dont get invovled) hands on.
Its all about face
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 1:55 am on June 14, 2005
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