Work and live in PAttaya

[Stinky 12]

To work and live in Pattaya is damn near impossible unless you are minted and open a bar or restaurant. That being said, how successful are the bars and restaurants right now?

 

Many expats work outside of Pattaya, ie Eastern Seaboard or Laemchabang, and live in Pattaya. This requires you to have the skill set for something that sets you out from Thais in the manufacturing sector. This was much easier 5-10 years ago. Now, you really have to be a superstar at something in your field.

 

Many expats work offshore and live in Pattaya on their off time. Not difficult if you are qualified enough to get the offshore work.

 

Manufacturing jobs are leaving Thailand and going to Vietnam in an alarming rate. If the Thai goverment doesn't put the baht back to 40-45 to the dollar, the manufacturing in Thailand for export will slowly die. It can not survive long term at 33-35 baht to the dollar.

 

I have heard from more than one person in the last month, that the days of a full expat package in Thailand are dead and gone. They are feww and far between. The teaching jobs in Thailand are slowly being taken up by low cost people from the Philippines and India. They will teach for 50% less than what native English speakers will.

 

That being said, we are starting a new manufacturing company in Thailand after the first of the year. Most likely, I will be the only expat on the books. We will have some short term consultants, but that's about it. I will most likely come off the books after a year or so, and be put back on the books in China. I need to be on the books in Thailand to get a work permit for the time that I spend there. Our company will not export outside of Thailand. It's just not feasible financially. But with the sales within Thailand, the company should be okay for at least 7-10 years. After that, most likely it will close if the exchange rate does not come up.

[Fondles 94]

Many expats work outside of Pattaya, ie Eastern Seaboard or Laemchabang, and live in Pattaya. This requires you to have the skill set for something that sets you out from Thais in the manufacturing sector. This was much easier 5-10 years ago. Now, you really have to be a superstar at something in your field.

 

Yup, im at laem chabang, dunno bout the superstar thing but iam good at what i do

 

I have heard from more than one person in the last month, that the days of a full expat package in Thailand are dead and gone.

 

Ive just signed on for my 4th year, didnt get a payrise but i didnt get a paycut either, spose all is good then.

 

That being said, we are starting a new manufacturing company in Thailand after the first of the year. Most likely, I will be the only expat on the books. We will have some short term consultants, but that's about it. I will most likely come off the books after a year or so, and be put back on the books in China. I need to be on the books in Thailand to get a work permit for the time that I spend there. Our company will not export outside of Thailand. It's just not feasible financially. But with the sales within Thailand, the company should be okay for at least 7-10 years. After that, most likely it will close if the exchange rate does not come up.

 

Good to hear its working out mate.

[torrenova 644]

If located inside a BOI Zone 3 Industrial Estate, yes the company can own the land. The company can even own a house and the land it is sitting on. Go make an appointment with BOI and get the info like I did. Prove me wrong if you think I am not posting exactly what was told to me a couple weeks ago by the BOI officials themselves.

 

 

Your company can own land with a house on it any where in Thailand.

 

 

Let's not make it look so badly. Your company needs a registered operating capital of 40 million baht to be able to own land. You do not have to pay 40 million baht for the land. The money is still the companies, and is not frozen or taken.

 

Yes but I can set up a company registered in the Empire State Building for example, I do not need an office there, only a mailing address. If that was the registered address then the company would effectively trade out of the ESB, though it could be anywhere. People use Delaware for tax purposes as an example.

 

Are you saying that you can do the same in one of these places or do you actually have to rent land in these places ?

 

Setting up a company in Thailand requires certain taxes paid on share capital. I doubt you could do the same as the UK for instance where I can set up a company with £20,000,000 share capital but paid up only £100. If you could, then everyone would have their company office on one of these industrial estates.

[Stinky 12]

Yes but I can set up a company registered in the Empire State Building for example, I do not need an office there, only a mailing address. If that was the registered address then the company would effectively trade out of the ESB, though it could be anywhere. People use Delaware for tax purposes as an example.

 

Are you saying that you can do the same in one of these places or do you actually have to rent land in these places ?

 

Setting up a company in Thailand requires certain taxes paid on share capital. I doubt you could do the same as the UK for instance where I can set up a company with £20,000,000 share capital but paid up only £100. If you could, then everyone would have their company office on one of these industrial estates.

 

We will be getting 8 years free of Corporate taxes, and possibly 10 years. The trick is having the dosh to be in one of the Industrial estates to start out. No, I do not think that BOI offers the same for a trading company. You have to make something in Thailand and show that you are benefiting Thailand.

[LocalYokul 177]

http://www.boi.go.th/english/how/setting_up_a_business.asp

[Fondles 94]

http://www.boi.go.th/english/how/setting_up_a_business.asp

 

Brad, your point is ??

 

Your link confirms stinky's rambling........yay you win one eh..... not.

[LocalYokul 177]

it's easy for anyone to find out this information, that's my point

[Stinky 12]

Brad, your point is ??

 

Your link confirms stinky's rambling........yay you win one eh..... not.

 

 

 

 

Yes, the company can own the land the company is built on even outside of an industrial estate, if your company gets BOI approval. Basically, BOI can trump any other laws if they wish.

[LocalYokul 177]

working in LOS, not as easy as it used be, 'nuff said

Edited December 16, 2009 by LocalYokul
kept on topic without childish feud

[sponio 0]

sounds not like paradise

[englishinsiam 15]

If you can work from the Internet then it's perfectly feasable to live and work here. I do and I do okay earning more than enough to live on here.

[sponio 0]

u saling or what u do exactly, i guess i will do the same thing..

[Stinky 12]

u saling or what u do exactly, i guess i will do the same thing..

 

 

Please explain this? I have never heard this term before.

[JohnnyK 28]

I met one guy, maybe a BM here, who does translation work for companies in Europe. Works in his condo during the day, its on the company desk when they arrive in the am and he gets paid falang rates.

Its a tight niche but a sweet one.

[ZARIS 20]

if you are willing to invest 40 million bt I have to ask the question. Why do you want to work still? Why do you want to take the risk of the investment??? To me that idea is totally crazzzyyyyyyyy!

 

40 million bt is about 1.4 million AUD.

 

If I bought a commercial investment or industrial uniit for 1.4 mill my yield would be about 6-8%. It would be 10 % at least if I but in a non metro area.

Take the worst case scenario at 6% thats 84,000$ a year less tax @ 30%= about 58k a year.Thats about 135,000 bt a month after tax.

 

Now tell me why you still want to work if you have this kind of capital to invest?

 

Oh your gonna borrow part of the 40 mill and do it that way? Are you totally mad? The risk profile goes thru the roof.

 

Heres an idea- borrow part of the 40 mill in your own country and invest there.If its a winner employ a manager and spent months at a time in thailand.

Or if you have the 40 mill already-invest it in your own country , go live where you want and live off the net income.

 

The propensity to invest your funds in some kind of business is fraught with danger, as you get older capital is your king. Think investment first, work second.

If your over 40 yo and you have no capital just your labour/skill to sell stay in your own country.If your have not been able to acquire some assets in your own country using your"skills" your sure as hell not going to acquire anything in thailand. As your motivation dwindles and the market place changes in thailand your likely to be left seriously struggling.One hears and see these cases all the time.

[englishinsiam 15]

u saling or what u do exactly, i guess i will do the same thing..

 

 

I presume your asking if I'm selling.

 

Yes and no

 

My main business is as a forex trader but I am in partnership with a couple of board mambers here in different businesses that aren't off the ground yet.

 

They will be selling roles.

[Obsession 571]

I presume your asking if I'm selling.

 

Yes and no

 

My main business is as a forex trader but I am in partnership with a couple of board mambers here in different businesses that aren't off the ground yet.

 

They will be selling roles.

 

Were you always a trader?

[englishinsiam 15]

Were you always a trader?

 

 

I've done all sorts over the years.

 

Whatever has been needed I've never relied on the state have always worked but mainly for myself.

[Obsession 571]

I've done all sorts over the years.

 

Whatever has been needed I've never relied on the state have always worked but mainly for myself.

 

Same here.

 

Trading seemed like gambling though?