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BANGKOK 27 March 2019 09:40
Alcastive

Opening Small Restaurant in Phuket

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Hi everyone i recently relocated with my Thai wife to Thailand currently i am still on my Non-O type visa, my friend and i have an idea opening a small restaurant in Phuket from which i know we need to deposit about 2M THB and i should put 51% shareholders in the name of my wife and the rest 49% in my friends name and we should have at least 4 Thai people workers, my question is i need the full details and procedures as my friend will visit Thailand as Tourist first and after agreeing on the location we will start the proceedings. Is there an official online website that can cover everything for foreign business laws (rent, tax, visas etc..) 

Edited by Alcastive

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You do not need to start a limited company just to run a small restaurant. In fact I would advise you not to start a limited company at first. Instead, your wife can run the business as a sole trader.

 

If the business really does well you can reconsider at a later date.

 

A limited company will take time, effort and money to run. The life of a sole trader is easy by comparison.

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If you have any expectations of earning enough to live off, better have a plan "B" for when you lose your investment.

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Read this thread, it seems relevant :

 

 

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On 2/19/2019 at 1:00 AM, blackcab said:

You do not need to start a limited company just to run a small restaurant. In fact I would advise you not to start a limited company at first. Instead, your wife can run the business as a sole trader.

 

If the business really does well you can reconsider at a later date.

 

A limited company will take time, effort and money to run. The life of a sole trader is easy by comparison.

Thank you all for your replies, dear blackcab if she starts the business then how about our visas ? i will still be holding a non-o type visa and he will still have a tourist visa, how to change the visa into type B.

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41 minutes ago, Alcastive said:

Thank you all for your replies, dear blackcab if she starts the business then how about our visas ? i will still be holding a non-o type visa and he will still have a tourist visa, how to change the visa into type B.

 

If you want an extension of stay based on working then you will have to set up a Thai limited company with four Thai employees paid at least the minimum wage for each extension of stay. You will also need to receive a minimum salary of 50,000 baht per month (assuming you are from a developed country) and you will need to pay social fund contributions for all staff.

 

Be aware that the extension of stay on the basis of work is one of the more difficult categories to get. My own documentation bundle for immigration is about 3cms thick.

 

I would be very surprised if your business idea would make enough profit to pay all of the outgoings.

 

Personally I would let her run the place for 6 months without forming a company and see if it's worth it.  You business partner can survive on tourist visas for that long until you can make a firm decision to move forward or not.

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Thank you very much, it is the best idea i heard so far, we will try to manage our visas at first and maybe later since i am her husband and registered our marriage in Thailand i will put that 400,000 Bhat in Thai bank (show it for 2 months) so i can get a year resident, I already applied for Thai ID but that's like only an alternative for holding a passport. 

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