Buying a Bart

[Blazer 0]

A friend of mine here in the US is going to Pattaya to buy a bar. I would like to know about some of the legal issues involved. Can he carry the money into LOS or does he have to perform a wire transfer like when you buy a condo? If so, how can he open an account from over here?

 

Thanks in advance for any info or advice.

[SunnyValentine 173]

Depends on the business he is going to acquire .... Most beer bars here are sold kinda "under the blanket", especially the small open ones. In case your friend is happy with that (no wp, and all that ...) i guess noone asks where the money comes from.

If your friend plans to do it the legal way incorporating a Thai-Majority owned company with nominee shareholders, and all that red tape, it probably makes only sense once over a certain size as well as financial investment.

In this case he should find a good and experienced lawyer to set up everything for him. This lawyer will also answer the question on how the money goes into Thailand.

You can open a Bank Account in Thailand without a long term Visa or Work Permit. Just to to an other branch or bank if one turns you down. Don't believe the shit they might tell you that it is illegal. Some Bank reps are just too lazy, or don't want to get involved with strange looking smelly people who speak a strange language (a.k.a. Farangs) ....

 

Sunny

[doorman 0]

Before you invest over there. It is best to go to the experts. Check out the www.pattayaexpats.com club. They will answer any and all questions and be able to get you in touch with a lawyer. Join its free. Plus you can get a discount card which is good in quite a few places. later doorman

[marleyboy 140]

well good luck to your mate with his bar! he needs it as there are always bars up for sale.