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Vancouver Jay
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One last bump, most likely.
The idea is still alive and moving forward. We are almost at the point where we can form a company and make a move.
If you are new to this thread or still on the fence, go back to the first post on Page 1 here and PM me the answers to the 8 questions. There is still time to get in, but I need to hear from you first.
A preliminary business plan and budget has been written. A prospectus is in the works. Everyone who has contacted me so far should have a PM from me in their Inbox now with some instructions. Let me know if you didn't get it.
*softly* woo-hoo!
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Thai Girls : Meet Sexy Thai Girls
Posted on: 5:37 am on Aug. 1, 2003
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Sunbelt
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Vancouver Jay asked me several weeks to give the Forum some examples of how foreigners structure their businesses legally to get the needed license and permits (including work permits), I promised him I would. The easiest way would be if you have four or more Americans owning 51% of the shares. Here are all the options..
1...
(a) Have different classes of voting shares... The Thais who have 51% Ýof the sharesÖfor every 10 shares =1 vote and the 49% foreign interest has 1 share =1 vote. As the 51% has the class of shares with only 1/10 of the voting rights. The Thai has the first right to liquidation proceeds. However it could be put in the bylaws beforehand what valuation the 51% ratio will obtain...( note it does not have to be 51% will get 51%. it could be .001%) Ý
(b)Ö. the foreign Mgr Dir. can be the sole signature on the account and the director.
2. Americans for the most part are exempted from the nationality requirements of the Alien Business Law under the provisions of the Treaty of Amity.( at least till Dec 31st 2004) and then in all likely hood will be ìgrandfatheredî in. A foreign group of all nationalities can own 100% of the shares as long as 51% of the shares and directors are American.
3. The Board of Investment may grant exceptions and foreigners can own 100%.. However a bar would not qualify.
4. Another legal way a foreigner can control a Thai companyÖ. ÝHave a company registered in Thailand ,the "Operating Company", Ýwhich then can be considered Thai if 49% of its shares were directly held by Aliens and the other 51% were held by another company, the "Holding Company", which itself was 51% Thai and 49% Alien. It's possible for foreigners using a two-tier company structure to directly or indirectly own approximately 74% of the capital of the Operating Company and for the Operating Company to be considered Thai and thus permitted to conduct businesses prohibited to aliens. This is totally legal as the Ministry of Commerce did not change the law before it was enacted. They in fact studied the case very carefully and said ìWe wonít change the wordingî I've seen 5 or 6 Thai Operating companies and Holding companies holding one company. The foreigner with this process could own indirectly or directly up to 98 % of the shares of one company. Some corporations even do crossing of shares between one Operating and one Holding company as shareholders so the foreigners can own directly or indirectly 98% of the shares.
Overall the rules concerning foreigners are fair and do not appear to have discouraged investment.
By the way, nominee shareholders using Thais does exist but this is not legal. There are legal options as stated above to control the corporation.
As for work permits, the company must be formed with 2 million baht paid up capital (3 million as Amity) If you have 4 Thais then you can get one work permit. Under the new laws, you can qualify for other work permits without the above criteria as long as the other foreigners get a salary of 30,000 ( single) or 45,000 ( married) ÝEach foreigner must pay taxes of at least 18,000 Baht per year. Ý
Liquor and alcohol license is easy to obtain. The entertainment license is a harder nut.
Hope this helps.
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Bangkok Women : Meet Sensual Bangkok Women
Posted on: 11:34 pm on Aug. 2, 2003
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Vancouver Jay
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Sunbelt, thanks very much for taking the time to do that write up. (And for doing it with a greater economy of words than I could ever have hoped for- succint is always good!)
Congrats again on your new store.
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Thai Girls : Meet Sexy Thai Girls
Posted on: 4:03 am on Aug. 4, 2003
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wingman
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VJ,
Interested. Just sent you a PM.
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Bangkok Girls : Meet Sexy Bangkok Girls
Posted on: 3:37 pm on Nov. 22, 2003
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Vancouver Jay
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Special Air Group Commander will reply shortly. Thanks.
All -- This idea has been on hiatus for a while owing to Social Order Crackups, APEC, and VJ's bad habit of liking to eat and live indoors. (I had to focus on pursuit of the almighty banknote for a while.)
We'll try to crank it up again as we move toward the new year.
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Thai Women : Meet Matured Thai Women
Posted on: 11:22 pm on Nov. 22, 2003
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mokewen
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VJ -
are the business ventures limited to bars?
moke
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Bangkok Women : Meet Beautiful Thai Girls
Posted on: 12:22 am on Nov. 23, 2003
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Vancouver Jay
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Moke, the bar idea was the attractor for the capital group. To date, almost all of the ideas and the draft business plan have kept that focus. Read the whole thread and you'll see how it got that shape. Read its parent thread, too -- I think the link is one page 1 here.
Short answer, yes and no. It's all that has been talked about to date, but it need not neccessarily be so. I'd rather keep focus of this initiative on bars and related however.
Do we need to form a splinter group to cover a different concept? PM me if you don't care to spill the beans to the general public just yet.
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 12:57 am on Nov. 23, 2003
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cyborg
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VJ, I like this idea a lot and have sent a PM. If for some reason you didn't get it, PM me and I will reply.
Cyborg
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Thai Girls : Meet Active Thai Girls
Posted on: 6:25 pm on Dec. 2, 2003
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cyborg
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You know as a Farang who has visited LOS several times I have often thought that Farangs should come and run some of these bars. We are the primary customers and of course we know what we like. I think this could be a great opportunity to "Do it RIGHT"
Havent all of us been in a gogo or beer bar and thought of some great ideas that they could do to upgrade and draw in the punters in droves?
A few quick thoughts concerning my personal likes and dislikes jus to see if my thinking is in line with others.
What I like, a classier decor and I like it when the ladies wear a uniform of some sort. Not so much the gimmicky costume thing per se but rather how about having them all dress in long black evening gowns with lingerie underneath. Something along those lines to class it up just a little.
Also I agree with the idea of having the real dancers as hello girls, no false advertising.
Nice choreographed shows like at Angel Witch.
What I do not like:
Girls asking for drinks, music always so loud that you cannot have a conversation. Maybe have a quieter song every third time or a quieter area for conversation in the bar. (Space permitting)
Some thoughts.
Cyborg
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Thai Women : Meet Matured Thai Women
Posted on: 7:36 pm on Dec. 2, 2003
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cmore
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In other words just like almost all of the artist bars over on Soi 33 right  ? Peace
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 10:18 pm on Dec. 2, 2003
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