Business, Investment & Work In Pattaya
Teach English In Pattaya? Business Opportunities, Work & Investment Links
Those visitors to Thailand, who have decided to settle down in what appears to be the "Land of Smiles", and have made Pattaya their hometown, but neither receive a pension nor have another source of regular income from abroad, will probably look out for business or work opportunities in order to make a living here.
Others might have some kind of regular income, however, not sufficient to maintain their desired lifestyle, and are in search of business, work or investment opportunities locally to add an extra income to the insufficient cash-flow from their home countries.
Whatever your personal financial situation may be, there are thousands of expatriates here, who have all taken the big step to move to Pattaya and who face a similar problem every year.
First of all, running a business in Pattaya (or Thailand, in general) is probably very different from what you were used to in your home country. Especially if you have never run an own business, the initial steps in Thailand may turn out to be difficult.
Secondly (and this is a serious warning!), if your financial possibilities should be limited, you will probably find it hard to be successful on the long run, and generate an income that would enable you to maintain a tourist-like lifestyle. (If you want to run a business and live in Thailand - i.e. live of the income that your business produces - you may also have to adjust your lifestyle.)
Before going into furher details, here's an often-repeated expat joke:
Question: "How do you make a small fortune in Pattaya?"
Answer: "Start with a big one!"
If you want to run a business in Thailand legally, you will have to set up a company and apply for a work permit. The basic requirement for both is a regular Non-immigrant "business visa", which can be applied for at Thai embassies or consulates, preferably in your home country.
Employment is strictly prohibited without a regular Non-Immigrant visa type "B" and work permit, regardless of whether you set up your own business or are employed by a local company. In the latter case your employer should arrange the necessary documents for you, and assist you with taking the right steps in order to successfully apply for a business visa and work permit.
Be aware of low-income job offers (say "management" positions in the entertainment sector) and companies that offer to employ you without a work permit. According to Thailand's strict laws on foreign employment, you'd be considered an illegal laborer and at permanent risk of harsh fines, imprisonment and deportation.
Thailand Business Visa
If you want to set up your own company, you'll probably need the assistance of an established legal advisor or law firm, which will help you with the legal procedure, company registration, work permit etc. Also, please note that there are certain businesses which aliens are not permitted to operate by Thai law.
Legal advisors & business consultants
Many foreigners, who plan only a smaller investment in Pattaya, say, open a beer bar or small guesthouse, and don't want to go through the legal hassle of setting up a company, buy "their" businesses in their Thai girlfriends' or wives' names. There's nothing wrong with that essentially, albeit it's not the smartest way of securing your investment. On one hand, you may save on the running costs that come with a registered company, personal income tax, corporate tax, lawyer fees etc., which makes sense if your business produces only a moderate income. On the other hand, you would not be allowed to work in "your own" business (not even serve a bottle of beer!) and shouldn't be surprised either if one day your Thai wife or GF kicks you out of "your" bar.
Run "your own" Pattaya bar ???
Many farangs who have experienced the tempting nightlife of Pattaya dream of running their own bar, restaurant, small guesthouse or related tourism-oriented business. Of course, at first glance the prospect of owning your own bar in Pattaya and be the "big boss", drink your favourite brand of beer at wholesale prices, enjoy the company of "your girls" and mates and even make money on top of that all, may be tempting. Looks like a paid holiday, doesn't it?
Be warned, however.
While a professionally run bar (AGoGo, restaurant, guesthouse, whatsoever) in the right location might well provide you with a sufficient income to survive, you will probably not make a fortune. If it's really got to be a bar, think well about the location, calculate the monthly costs for operating your business (rent, salaries, key money etc.) and pre-estimate what your monthly takings may be realistically.
Do not listen to fairy tales of previous owners, even the more so if they are fellow countrymen of yours. They are basically just trying to get rid of the place, possibly because they can't afford to pay for the monthly losses anymore, so always inquire into why somebody wants to sell his bar. It is always wiser to have a chat with owners of similar businesses in the same area who do not want to sell, and whose experiences may help you make the right decision.
As the average beer-bar-owner story goes like "Farang A buys a given bar and runs it for a while (without economic success) and then sells it on to Farang B" - make sure you won't be Farang C or D in that line of wannabe-bar owners, who invest their savings into loss-bound businesses and, in the worst case, have to sell their bars at "urgent sale" prices well below what they paid themselves.
Especially when relying on Thai "business partners" or your Thai girlfriend or wife, due diligence should be your top priority. Say, if you buy a bar in your Thai girlfriend's name, you shouldn't be surprised if one day she kicks you out of 'your' bar. On the other hand, if you set up a company for your bar (or other) business and apply for a work permit as, e.g. managing director, you'll be subject to income and other taxes (higher in the case of foreigners), which add to your monthly costs.
If you still wish to open a bar in Pattaya, expect to spend at least 500,000 Baht for a single-unit shophouse bar in a mediocre location, i.e. if you rent the place. To develop a small guesthouse in a rented shophouse building, should cost you at least one million Baht.
As everywhere in business, the sky is the limit. So if you fancy running your own GoGo bar on Walking Street, bring at least a few million Baht with you to get started.
Admittedly, there are a few foreigners who have made serious investments in Thailand (including the entertainment sector) and have been successful with unique business ideas. However, those few lucky guys, who have made fortunes, probably have not made them here in Pattaya but have all had money before moving to Thailand.
On the other hand, there aren't many expats around who literally started from scratch and with a few hundred thousand Baht, set up a successful business and have become rich men. To put it clearly, unless you have been a millionaire before, you'll probably not make a fortune or become a millionaire in Pattaya. Realistically, if you break even, and have a little bit on top to cover your expenditures, well, for Pattaya standards, that's quite a success already
So what other business, investment and job opportunities are there in Pattaya and Thailand?
If purchased at realistic prices (and following intensive market research), one of the most secure investment opportunities in recent years could be seized in Pattaya's property market.
Both rental and sales prices for condominiums, residential houses or commercial buildings have continuously risen in recent years, so whether you decide to "buy, refurbish and sell", or simply rent your property, you can either make a substantial one-time profit, or generate a sustainable regular income.
Pattaya Real Estate Agents Pattaya Property Listings
Serious, yet rather risky, alternatives to investing in the local economy include offshore banking and asset protection or FOREX (foreign exchange) trading. Trading stocks online on the Stock Exchange of Thailand (SET), may be another viable option for investors willing to take a risk.
Offshore Bank Accounts & Asset Protection FOREX Trading Online
Unless you're highly skilled or qualified in a sector, in which Thai people are not competitive yet, your chances of finding an employment with a local company are relatively low. Due to the lower costs of employing Thai workers, restrictions on what foreigners are legally permitted to work in Thailand, no work permits required etc., most companies are seeking Thai nationals only. There might be some chances in the hospitality sector (e.g. hotel management or chef positions), but job offers are rather limited.
If you still wish to work in Thailand and do not qualify for such high profile positions, then your best option might be to seek a teaching position as English teacher (high demand for qualified teachers but relatively low pay), seek a job as Scuba dive instructor, or start your own internet business or online shop. It won't make you a millionaire either, but selling stuff on Ebay, run a website, do some online gambling etc., may supply you with a few extra Baht?
Teach English In Pattaya
Business, Work & Investment Links
Teach English In Pattaya? Business Opportunities, Work & Investment Links
Those visitors to Thailand, who have decided to settle down in what appears to be the "Land of Smiles", and have made Pattaya their hometown, but neither receive a pension nor have another source of regular income from abroad, will probably look out for business or work opportunities in order to make a living here.
Others might have some kind of regular income, however, not sufficient to maintain their desired lifestyle, and are in search of business, work or investment opportunities locally to add an extra income to the insufficient cash-flow from their home countries.
Whatever your personal financial situation may be, there are thousands of expatriates here, who have all taken the big step to move to Pattaya and who face a similar problem every year.
First of all, running a business in Pattaya (or Thailand, in general) is probably very different from what you were used to in your home country. Especially if you have never run an own business, the initial steps in Thailand may turn out to be difficult.
Secondly (and this is a serious warning!), if your financial possibilities should be limited, you will probably find it hard to be successful on the long run, and generate an income that would enable you to maintain a tourist-like lifestyle. (If you want to run a business and live in Thailand - i.e. live of the income that your business produces - you may also have to adjust your lifestyle.)
Before going into furher details, here's an often-repeated expat joke:
Question: "How do you make a small fortune in Pattaya?"
Answer: "Start with a big one!"
If you want to run a business in Thailand legally, you will have to set up a company and apply for a work permit. The basic requirement for both is a regular Non-immigrant "business visa", which can be applied for at Thai embassies or consulates, preferably in your home country.
Employment is strictly prohibited without a regular Non-Immigrant visa type "B" and work permit, regardless of whether you set up your own business or are employed by a local company. In the latter case your employer should arrange the necessary documents for you, and assist you with taking the right steps in order to successfully apply for a business visa and work permit.
Be aware of low-income job offers (say "management" positions in the entertainment sector) and companies that offer to employ you without a work permit. According to Thailand's strict laws on foreign employment, you'd be considered an illegal laborer and at permanent risk of harsh fines, imprisonment and deportation.
Thailand Business Visa
If you want to set up your own company, you'll probably need the assistance of an established legal advisor or law firm, which will help you with the legal procedure, company registration, work permit etc. Also, please note that there are certain businesses which aliens are not permitted to operate by Thai law.
Legal advisors & business consultants
Many foreigners, who plan only a smaller investment in Pattaya, say, open a beer bar or small guesthouse, and don't want to go through the legal hassle of setting up a company, buy "their" businesses in their Thai girlfriends' or wives' names. There's nothing wrong with that essentially, albeit it's not the smartest way of securing your investment. On one hand, you may save on the running costs that come with a registered company, personal income tax, corporate tax, lawyer fees etc., which makes sense if your business produces only a moderate income. On the other hand, you would not be allowed to work in "your own" business (not even serve a bottle of beer!) and shouldn't be surprised either if one day your Thai wife or GF kicks you out of "your" bar.
Run "your own" Pattaya bar ???
Many farangs who have experienced the tempting nightlife of Pattaya dream of running their own bar, restaurant, small guesthouse or related tourism-oriented business. Of course, at first glance the prospect of owning your own bar in Pattaya and be the "big boss", drink your favourite brand of beer at wholesale prices, enjoy the company of "your girls" and mates and even make money on top of that all, may be tempting. Looks like a paid holiday, doesn't it?
Be warned, however.
While a professionally run bar (AGoGo, restaurant, guesthouse, whatsoever) in the right location might well provide you with a sufficient income to survive, you will probably not make a fortune. If it's really got to be a bar, think well about the location, calculate the monthly costs for operating your business (rent, salaries, key money etc.) and pre-estimate what your monthly takings may be realistically.
Do not listen to fairy tales of previous owners, even the more so if they are fellow countrymen of yours. They are basically just trying to get rid of the place, possibly because they can't afford to pay for the monthly losses anymore, so always inquire into why somebody wants to sell his bar. It is always wiser to have a chat with owners of similar businesses in the same area who do not want to sell, and whose experiences may help you make the right decision.
As the average beer-bar-owner story goes like "Farang A buys a given bar and runs it for a while (without economic success) and then sells it on to Farang B" - make sure you won't be Farang C or D in that line of wannabe-bar owners, who invest their savings into loss-bound businesses and, in the worst case, have to sell their bars at "urgent sale" prices well below what they paid themselves.
Especially when relying on Thai "business partners" or your Thai girlfriend or wife, due diligence should be your top priority. Say, if you buy a bar in your Thai girlfriend's name, you shouldn't be surprised if one day she kicks you out of 'your' bar. On the other hand, if you set up a company for your bar (or other) business and apply for a work permit as, e.g. managing director, you'll be subject to income and other taxes (higher in the case of foreigners), which add to your monthly costs.
If you still wish to open a bar in Pattaya, expect to spend at least 500,000 Baht for a single-unit shophouse bar in a mediocre location, i.e. if you rent the place. To develop a small guesthouse in a rented shophouse building, should cost you at least one million Baht.
As everywhere in business, the sky is the limit. So if you fancy running your own GoGo bar on Walking Street, bring at least a few million Baht with you to get started.
Admittedly, there are a few foreigners who have made serious investments in Thailand (including the entertainment sector) and have been successful with unique business ideas. However, those few lucky guys, who have made fortunes, probably have not made them here in Pattaya but have all had money before moving to Thailand.
On the other hand, there aren't many expats around who literally started from scratch and with a few hundred thousand Baht, set up a successful business and have become rich men. To put it clearly, unless you have been a millionaire before, you'll probably not make a fortune or become a millionaire in Pattaya. Realistically, if you break even, and have a little bit on top to cover your expenditures, well, for Pattaya standards, that's quite a success already
So what other business, investment and job opportunities are there in Pattaya and Thailand?
If purchased at realistic prices (and following intensive market research), one of the most secure investment opportunities in recent years could be seized in Pattaya's property market.
Both rental and sales prices for condominiums, residential houses or commercial buildings have continuously risen in recent years, so whether you decide to "buy, refurbish and sell", or simply rent your property, you can either make a substantial one-time profit, or generate a sustainable regular income.
Pattaya Real Estate Agents Pattaya Property Listings
Serious, yet rather risky, alternatives to investing in the local economy include offshore banking and asset protection or FOREX (foreign exchange) trading. Trading stocks online on the Stock Exchange of Thailand (SET), may be another viable option for investors willing to take a risk.
Offshore Bank Accounts & Asset Protection FOREX Trading Online
Unless you're highly skilled or qualified in a sector, in which Thai people are not competitive yet, your chances of finding an employment with a local company are relatively low. Due to the lower costs of employing Thai workers, restrictions on what foreigners are legally permitted to work in Thailand, no work permits required etc., most companies are seeking Thai nationals only. There might be some chances in the hospitality sector (e.g. hotel management or chef positions), but job offers are rather limited.
If you still wish to work in Thailand and do not qualify for such high profile positions, then your best option might be to seek a teaching position as English teacher (high demand for qualified teachers but relatively low pay), seek a job as Scuba dive instructor, or start your own internet business or online shop. It won't make you a millionaire either, but selling stuff on Ebay, run a website, do some online gambling etc., may supply you with a few extra Baht?
Teach English In Pattaya
Business, Work & Investment Links
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