lordofdelusion Posted August 10, 2008 Share Posted August 10, 2008 If I loan money to a Thai, and the contract states I will be paid interest at a certain rate, will that be considered earnings and will I require a work permit ? I am currently on a retirement visa. The loan paperwork would also state that the loan is secured by personal property if that makes any difference. Link to comment Share on other sites More sharing options...
GungaDin Posted August 10, 2008 Share Posted August 10, 2008 You should be asking members about their experiences lending money to Thais! Link to comment Share on other sites More sharing options...
GuestHouse Posted August 10, 2008 Share Posted August 10, 2008 There have been a number of threads on TV regarding Farangs walking away from debts they took on (Credit Card Debts, Mortgage Debts, Bank Loans etc). Why do you think Thais are any different in this respect? And why do you think they are coming to your for a loan rather than going to the bank?? Link to comment Share on other sites More sharing options...
Heng Posted August 10, 2008 Share Posted August 10, 2008 No work permit needed. Just don't do it on someone's turf who is more important than you are. Link to comment Share on other sites More sharing options...
lordofdelusion Posted August 11, 2008 Author Share Posted August 11, 2008 OK, message received. Money + Thailand = DANGER!!! Unlike my rock solid investments in the US with Bear Sterns, Indy Mac, Fannie and Freddie, Enron, World Com etc; Fortunately I avoided all those disasters in the US and will avoid one here as it is a small sum to expand an already existing business with a decent cash flow. Also written in the deal was my wife becoming 1/3 partner in the business. This just gets better, huh? Like I said, a small sum equal to 2% of my assets which is the sum total of money I have invested in Thailand. Live dangerously. At least wish me luck Link to comment Share on other sites More sharing options...
GuestHouse Posted August 11, 2008 Share Posted August 11, 2008 And there is the definition of bad advice in LoS - Advice that the person asking for advice does not want to hear. Link to comment Share on other sites More sharing options...
duped Posted August 11, 2008 Share Posted August 11, 2008 Usually small businesses bring in investors when they are heading towards troubled waters. Why would they give up ownership of a good thing? Link to comment Share on other sites More sharing options...
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