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lalake
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Question for those of you who live/work in Thailand.
I have a old gf I've known for 2 years. Met when I stayed at a 5 star hotel, and she was spa manager.
She wants to start her own spa at another 5 star (several options in BKK, maybe have to go to Koh Samui), and I want to invest and give her money.
But,...of course don't want to be stupid and just write her a check. I trust her a lot, but, not enough to give her 1-2,000,000 Baht without a contract.
Does anyone have any ideas how I can do this (legally) without getting burned? Like maybe, can I buy into 49% of the business? Maybe a joint bank account? What about her signing a promissory note? Under the table deals are not very trustworthy.
here's the show stopper....I am farang (of course), and currently don't live in Thailand. Tough, I know.
cheers, thanks
Lalake
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Thai Girls : Meet Sexy Thai Girls
Posted on: 11:05 pm on Jan. 11, 2004
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DrLove
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First, let's take a look at the amount...
1-2 million baht for a spa at a 5 star location? Probably not even enough to build the toilet facilities....
Secondly, a business plan. Where are you going to be ie location? What will be the fees the hotel charges you? Most 5 star hotels usually run their own spa or let a third party handle it.
Third, indeed you won't be the first foreigner losing money the quick way. Get a good lawyer (not a bargain either). I remember Sunbelt Asia is a foreign owned company (he used to lurk on the board).
These are just quick thoughts and by no means complete advice...
http://www.sunbeltasia.th.com/default.asp
Good luck!
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Bangkok Women : Meet Sensual Bangkok Women
Posted on: 11:16 pm on Jan. 11, 2004
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lalake
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thanks Dr. Love,
but, to clarify, I never said that was total amount. Actually that is just the lease fee, and she is looking for banking investment, her money, her family....etc...
I didn't mention those incidentals, as it didn't matter too much...we're not building the spa, but, taking over management rights....
thanks again, appreciate the input...
Lalake
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Thai Girls : Meet Sexy Thai Girls
Posted on: 1:22 am on Jan. 12, 2004
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Smegma
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What about you investing in something that YOU like -ie makes sense to you, and help her by using your influence as shareholder to have her hired to work there. As you make money and she works, you can better gauge what to do next,... maybe save the proceeds from the business and give them to her later when she has proven herself as a very efficient employee/manager. This way you may also get to preserve the initial capital investment.
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Bangkok Girls : Meet Sexy Bangkok Girls
Posted on: 4:57 am on Jan. 12, 2004
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fastmover
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Smegma...."maybe save the proceeds from the business and give them to her later when she has proven herself as a very efficient employee/manager"
What have the Thai woman work to prove herself worthy of the farang capitalist? That's treating her like a child. And who is to say 'lalake' is competant enough himself to determine a well run overseas business, even if the field is one he is familiar with.
If she is an efficient manager in the first place she would be able to present a business plan that carries weight for investment.
The 'slave' until you prove yourself routine, never works.
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Thai Women : Meet Matured Thai Women
Posted on: 12:30 pm on Jan. 13, 2004
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lalake
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thanks to everyone for their valuable input.
I am happy I posted this to get some feedback.
But, an interesting turn of events. My friend flew to Koh Samui to interview some prospective places there. And turns out, the place in Chaweng offered her a job as Manager of their Spa.
She took it ! Don't blame her, in fact, I am happy. Gives me a chance to look at maybe buying a Condo or something instead...can't get much for Baht 2,000,000 though.
cheers,
Lalake
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Bangkok Women : Meet Beautiful Thai Girls
Posted on: 8:50 pm on Jan. 13, 2004
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NaughtiusMaximus
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I know someone looking for an investment, send it over to my account and we will get the balls rolling, literally
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 11:15 pm on Jan. 13, 2004
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deby
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promissory notes dont have much of a binding power. Neither do oral agreements. The best bet would be to engage a lawyer and draw up a simple agreement. Doesnt cost much - since you're prepared to invest so much already. Dont do anything without drawing up an agreement. Even the best of relationships - whether business or personal, can turn nasty. Best to arm yourself with proper safeguards.
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Thai Girls : Meet Active Thai Girls
Posted on: 11:39 pm on Jan. 13, 2004
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