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sirusman
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I think it is 7 directors 5 of which must be Thai with a minimum of 51% holding. If i am wrong maybe the Bros will correct me
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Thai Girls : Meet Sexy Thai Girls
Posted on: 7:42 am on July 16, 2003
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JackRabbit
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I'm in if thai's are out ( all changes possible without a notice).
10 k , right ?
JR
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Bangkok Women : Meet Sensual Bangkok Women
Posted on: 7:45 am on July 16, 2003
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Vancouver Jay
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This is generally but not exclusively the case. There are a few workarounds which are being researched now. Forgive the vagueness but I don't want to speak in definite terms until I have info I trust. More to follow.
A lease has not been given serious consideration. What are you suggesting exactly?
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Thai Girls : Meet Sexy Thai Girls
Posted on: 7:51 am on July 16, 2003
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thaiprivateeye
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Properly registered company must have minimum 7 directors, 4 thai, any business therefore needs thai control [ on paper ] re a bar of course, remember Foreigners can not work behind the counter, or in fact do a job Thais can usually do, take into account payment to the men in brown, tax's, and dishonest staff, also the fine print re the lease of the property/building etc - a good way to have some fun perhaps, a talking point for you, but a profitable investment .... unlikely, allowing majority of bars you walk into at present, have staff out numbering patrons about 5 to 1 !!
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Bangkok Girls : Meet Sexy Bangkok Girls
Posted on: 7:58 am on July 16, 2003
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ducksnutz
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BOSS,
a person could buy as many number of 10k parcels as they wanted. what I was trying to get an idea of was, we talked and threw out a figure of 500 members at 10k baht each, this would also equate to lesser members if some members bought multiple parcels, or more money raised if we managed to pull in 500 or more members.
Basically we have to raise 'XXX$$$$' baht to do something, however this is done, by however many are interested. But lets say we can only raise the interest of 50 people to become serious and pay, at 10k each we would not raise enough baht to fund it. So what I was wondering was what would the general population be happy to go up to as a 'baht' amount if this was the case.
As a smaller figure of 10k, we were looking at discounts and friendship and the bragging factor, to be a return, not a cash ROI in the first instance. If the amount was markedly higher for lesser number of persons, then we would need to look at a cash ROI as well as the other factors.
VJ,
no worries, this was different as I was interested in a general comment from anyone, serious or not, just to see what figures people are thinking of.
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Thai Women : Meet Matured Thai Women
Posted on: 8:04 am on July 16, 2003
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sirusman
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What many Pattaya bar owners do is get taxi drivers to sign up as directors it is important that these people do not know each other as ther total vote in any decision would total 51%.
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Bangkok Women : Meet Beautiful Thai Girls
Posted on: 8:09 am on July 16, 2003
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Vancouver Jay
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Listen to TPI, people. He frames the proposition in a most reasonable light. Runaway successes in this area still do not generate wild profits. A smartly run bar can survive, but it will not be the next Microsoft.
The 5:1 ratio is generous, many bars are looking worse right now. This suggests that the time to get in is at hand, things are only going to go up. However a new bar right now can open with fewer trained personnel to control costs and bring on new people as business improves- it's harder to go the other way, from boom to bust and lay people off.
Ducks- no worries. We're not a cross-purposes at all. One structured thread and one freeform is a good thing.
Sirus- That's one way to go about it, but risky as all get out. Better to turn to Thais with whom one has a longstanding and committed relationship (who still don't know each other). We'll get to the correct structure and provide a comfort zone for everyone, one way or another.
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 8:49 am on July 16, 2003
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sirusman
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VJ If i did not have 2 busnisses in Pattaya to run i would be in with you lads,my problem is my wifes family are Police officers the elder one is ĘPol Col and they have made it clear many times that they would not be happy with me being involved in a bar. But then again how would they know...........................TiT
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Thai Girls : Meet Active Thai Girls
Posted on: 9:04 am on July 16, 2003
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eyeswideopen
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Thais can own 51% of the shares (b class - 1 share 1 vote) but the other 49% are supervoting a class shares with 10 votes to each share. This is legal, and how most get around the nominee risk. Much better than presigned transfer agreements.
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Thai Women : Meet Matured Thai Women
Posted on: 9:22 am on July 16, 2003
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BossInLOS
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I read somwhere, maybe on this forum, that one way around the 51% Thai ownership is to lease a business from the owner (who is Thai). I don't know if this is factual or even smart, just another option. Seems like there are a number of farangs running businesses in BKK. Is this how they do it?
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 9:41 pm on July 16, 2003
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