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Starting business advice needed please!

Discussion forum for expats moving to or living in Thailand.

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Starting business advice needed please!

Post Posted: Tue Mar 14, 2006 6:43 pm

Hey there everyone, I was hoping to get some advice about moving to and starting a business in thailand, (or Koh Samui to be more precise).
I have recently returned from samui after a 6 week holiday with a friend, it was my first time there but my friend has spent 3 months around the country. (Im 26 and my friends 27)

Needless to say we love it and we are now very interested in buying some property and building some bungalows, or maybe buying some bungalows outright.

We have contacts to buy land, for constuction from a trusted thai male whom we met through a friend who is an expat from the uk and works as an estate agent.

The problem being that neither myself or my friend own any property in the uk. Now both our parents have agreed to let us use thier houses as collateral to obtain a loan.

But this idea is still in the early stages and although it is definately what we both want to do were not sure if we would be able to get a loan and if there would be any other difficulties we would encounter.

Any help or comments would be gratefully received. thanks a lot for reading.

Tom. Smile

 

tom_toms
Newbie
Newbie
 
 
  
Re: Starting business advice needed please!

Post Posted: Tue Mar 14, 2006 8:12 pm

- tom_toms

I was hoping to get some advice about moving to and starting a business in thailand, (or Koh Samui to be more precise).
Needless to say we love it and we are now very interested in buying some property and building some bungalows, or maybe buying some bungalows outright. Any help or comments would be gratefully received. thanks a lot for reading.


--

Don't be fools.

Obviously, you have not done your homework. The web is full of reports from foreigners who have tried exactly that. They, too, had "trusted friends". There are many people in Thailand - farang and local alike -who stand ready to gently and politely separate foreigners such as yourselves from their money. Looks like some of those people have you in their sights.

In addition, from your short post, it's clear to me that you have zero experience as business owners. You don't write like someone with business experience. You write like someone with business fantasies.

You've done one thing right: you asked for advice. Now do your research on the Internet before you start throwing your money away on Koh Samui.

-- Peter

 

Peter4
Regular Poster
Regular Poster
 
 
  
Re: Starting business advice needed please!

Post Posted: Wed Mar 15, 2006 2:55 pm

Dear Tom: As far as I know, foreigner could not own any land in Thailand. That's the law right now. If you are going to buy land through your trusted Thai friend. He/she will own the land, not you! You have some priviledge to own condominium, but not house too. If you want to buy land or houses, you need to set up company with 49% foreigner 51% Thai. There will be some funds to reach to be able to do that. Please don't give them any money until you are sure about the Thai regulations and law for doing business. I don't want you and your friend to loose your house in UK. Find business consultant from your side, not their side. I don't mean that they are bad people, but it sounds too easy to do business like that now, especially in Samui. Be patient and do more research...
Good luck.
Khun See

 

khunsee
Regular Poster
Regular Poster
 
 
  
Re: Starting business advice needed please!

Post Posted: Wed Mar 15, 2006 3:44 pm

Khunsee -

As always, you offer valuable information in a very polite way. I am sure many readers will appreciate that from you.

In my opinion, the original post on this thread is valuable, but I am certain it is not real. Nobody could be that stupid.

The value of the original post is that something along those lines happens a lot when Westerners travel abroad. We come from a culture based on trust. Most of the rest of the world operates in cultures based on power. Trust does not figure into their thinking. We are in their country - Thailand, Philippines, Indonesia, Spain, Brazil: doesn't matter. In their home country, they have the power and the connections. We trust them. Foolish us. Threads like this are valuable for spreading that warning.

But I am sure the original post is not a real situation. Anybody stupid enough to consider a mortgage on their parents' homes to buy beach huts on a little island in Asia would be too stupid to use the Internet, to find a web site like this one, and to compose a literate message.

No, the original post was invented by the webmaster or his associates. And a very good service that is, too. The webmaster is saavy enough to know the serious problems of living/travelling abroad, and to bring them onto the forum for discussion. This can be an entertaining way to transmit valuable warnings to other readers of this forum.

I hope to see more like that.

-- Peter
.

 

Peter4
Regular Poster
Regular Poster
 
 
  
Re: Starting business advice needed please!

Post Posted: Wed Mar 15, 2006 5:20 pm

No this post post isnt from a webmaster!, i searched for this website to find out more information, this was our first port of call to ask and find out what we needed to do and maybe get other peoples opinions.
I understand how careful we have to be and that we obviously need to do more research.
The guy we know in samui has already built/designed bars and bungalows with english people we know and have known for a long time.
There is no way any money would be changing hands unless we were sure everything was legitimate, but this is in idea/researching stages.

Your right peter4, we dont have any business expierience, but thats why we are on this forum asking for advice, this isnt something thats going to happen overnight we realise that and will obviously need to travel to Thailand again and do our research on the web.

Constructive criticism is always welcome so thanks.


Tom

 

tom_toms
Newbie
Newbie
 
 
  
Re: Starting business advice needed please!

Post Posted: Wed Mar 15, 2006 7:38 pm

- tom_toms

No this post post isnt from a webmaster!



Tom -

I humbly accept your correction. And I thank you for adding more information.

Instead of deleting my previous messages , I will let them stand as evidence of my mistake in thinking about your original post.

I sincerely hope this venture -- should you decide to undertake it -- works out well for you.

In recent years I've read several posts on the web about men who have successfully built houses in Thailand. Not quite the same as building and renting beach bungalows, but, perhaps, you can learn from their experiences. Here are two web pages about that:

http://www.thaivisa.com/build_house.0.html

http://www.coolthaihouse.com/

- Peter
.

 

Peter4
Regular Poster
Regular Poster
 
 
  
Re: Starting business advice needed please!

Post Posted: Wed May 24, 2006 6:02 am

G,day Tom,
I have been to Samui many times and understand your desire to live there, especially seeing that you live in climate dismal England. Yes you do have to be careful, making sure that you engage a good legal adviser, there are many pitfalls. However having said that, i have many expat friends on Samui some from UK, who have set themselves up in business and are very happy indeed. Some making money and others just a decent living but 'what the heck' i expect that is really what you are looking for and if it really makes money then thats a bonus. The only thing that stops me from doing the same is my age, i am now retired but i go back to Samui again and again( and i live in paradise called Queensland), dispite the 'knockers' saying its too busy i find that all B*** S**T there some very beautiful quiet spots on Samui, i like the north coast. I say go ahead with caution , which you would need anywhere, dont let any 'smartass' tell you that you do not have business experiance, it will come. I wish you all the best, and remember the old saying "Faint heart never won fair lady"

 

HappyD
Regular Poster
Regular Poster
 
 
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