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Starting a business in Thailand

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Hey folks, I am about to open a business here and I was wondering how many have experience doing so? specifically the problem of required 51% Thai national ownership. I was going to use my sons as co-owners but apparently they must be above 20 years old. I am aware that there are companies that will be silent partners (51%) and allow me to retain control over the business as well as collect the profits. I am interested in hearing of peoples interactions with these agencies and any other advise is more than welcome! 

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Posted (edited)

I don't want to start yet another debate on starting and using a Thai company,  as all you seem to get back here is negativity,  but if you wish to PM me i can give you my experience. 

Edited by Pilotman
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On 6/12/2020 at 8:39 PM, itsallmine68 said:

Hold onto your wallet very tight. 

Trust your friends and colleges like enemies.

 

Good luck

This bit of wisdom is true anywhere, not just Thailand.

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Starting a business in Thailand . 

 

Like the thais say ,,,, Up to you. 

Only put up as much money as you can Afford to Lose . If not  Don't start .

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Don't start a business here unless you have more money than you need, and your not worried about losing it. Me I came here to enjoy and not worry about the Thai community trying to take it off me.

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I recall sitting in a coffee shop in Chiang Mai when a middle aged westerner sat near me with two well dressed Thais, who turned out to be lawyers. It seems that he started a business and took on local partners who cheated him and voted him off the board. 
 

if you don’t need to for financial reasons why bother. The law is designed to screw over foreigners.

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You want to start a business in Thailand????   I have experience at 'Monkey Business'.....

I have a Thai wife in the USA, a Mia-noi in Pattaya (both 25 years now)......... I have a young lady w/2 kids in Sisaket That I built a solid house for a few years ago...... I hav a massage extra-service girl in Pattaya.... and 3 Ban Chang bar girls in Ban Chang (near Pattaya) I call them all 'MY HAREM'....... Now I am stuck in the USA for several months so Thanks to my Kasikorn Account App on my phone.... Since I can't go I just SEND MY MONEY..... They all love me just as much as when I go.... MAYBE MORE....

So in you want to start a 'Business in Thailand'.... Then consider... "THERE AIN'T NO BUSINESS BETTER THAN MONKEY BUSINESS'....

And if you are not in Thailand yet..... then don't bother go..... JUST SEND YOUR MONEY.....

I speak with experience.......  LOL ....

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If you are a US citizen, you need to look into the Amity Treaty. If you are not, it is a dicey prospect trying to secure a company with only 49% ownership. I would never do it. Never.

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