Pattaya Business Investment Work

Business, Investment & Work In Pattaya

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Those visitors to Thailand who have decided to settle down here and make Pattaya their hometown but neither receive a pension from abroad nor have another source of regular income 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 or investment opportunities that could add an extra income to the insufficient cash-flow from their home countries. Whatever your personal financial situation is - there are hundreds of expatriates here who have all taken the big step to move to Pattaya and face a similar problem every year.

First of all, running a business in the Land of smiles is probably very different from what you were used to in your home country. Especially if you've never run a business of your own back home the initial steps in Thailand might 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 might enable you to maintain a tourist-like lifestyle.

Run "your own" Pattaya bar ???

For example, many Farangs who have experienced the tempting nightlife of Pattaya dream of running their own bar, restaurant, guesthouse or related tourist-oriented business. Of course, at first glance it might look like great
fun to sit in your own newly-established bar in the position of a "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. Looks like a paid holiday, doesn't it?
Be warned, however.
Whereas a professionally run bar (restaurant, guesthouse or 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. It is always wiser to have a chat with operators of similar businesses in the same area who have made
either good or bad experiences already. As the average beer bar story goes like "Farang A buys it, operates it for a while without economic success and sells it on to Farang B", make sure you won't be Farang C or D in that line of unaware and unlucky entrepreneurs who invest into loss-bound businesses. Especially when relying on a Thai business partner (Thai wife), due diligence should be your priority. Remember the often-repeated expat joke:
"How do you make a small fortune in Pattaya?"
Answer: "Start with a big one!"

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 lucky guys who have made fortunes probably have not made them here but have all had money before moving to Thailand. On the other hand, there aren't many expats who literally started from scratch, set up a successful business and have subsequently become wealthy men. To put it clearly, unless you have been a millionaire before and made a serious investment in Pattaya at the right time you probably will not make a fortune or become a millionaire.
So what business, investment and job opportunities are there in Pattaya and Thailand?

Serious yet potentially risky alternatives to investments in the local economy include offshore banking and asset protection or FOREX (foreign exchange) trading. If purchased at a realistic price (following intensive market research) the most secure investment opportunities in recent years could be seized in Pattaya's real estate 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 should either make a substantial one-time profit or generate a sustainable regular income.
Offshore Bank Accounts & Asset Protection
Pattaya Real Estate Agents
Pattaya Property Listings
FOREX Trading Online

Unless you're highly skilled and qualified in a sector in which Thai people are not competitive yet, chances of finding an employment with a local company are relatively low. There might be some chances in the hospitality sector, for example, in hotel management or chef positions. But if you seriously want to work in Pattaya or Thailand and do not qualify for such high profile positions your best options might be to seek a teaching position as English teacher, Scuba dive instructor or start your own internet business or online shop.
Teach English In Pattaya
Internet Business

If you want to conduct 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" obtained from a Royal Thai embassy or consulate abroad, preferably in your home country. Foreign employment is strictly prohibited without a regular non-immigrant "B" visa and a work permit, and it makes no difference whether you establish your own business or work as an employee for another company. In the latter case your future employer should arrange the necessary documents for you and assist you with taking the right steps in order to obtain a Non-immigrant visa and a work permit. Be careful with low-income job opportunities (say "management" and "papasan" positions in GoGo bars or teaching positions) and companies which offer to employ you without a regular work permit. According to Thai law you would be considered an illegal laborer and be at permanent risk of harsh fines, imprisonment and deportation.
Thailand Business Visa

If you want to run your own company you will probably need the assistance of an established legal advisor or a law firm in order to set up your business (see links below). However, please note that there are certain businesses which aliens are not permitted to operate by Thai law. On the other hand, some forms of investment, e.g. Offshore Banking & Asset Protection, Real estate investments or investments in Stock Exchange and FOREX (foreign exchange) Trading, might well provide you with a regular income (possibly liable to tax) but are not categorized as businesses/ occupations and thus do not require the formation of a company and a work permit.

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