The idea of moving to Thailand and starting a business there is becoming very popular among tourists. Friendly people, tropics, the sun and the atmosphere of an eternal holiday inspire the idea that business in Pattaya does not require much effort and brings only pleasure. In fact, there are many difficulties for running a business in Thailand for foreigners. In our article we will tell how a foreigner can start or buy a business in Pattaya and which projects are the most profitable.
Everybody knows that the legislation of Thailand is rather nationalistic and it is aimed at the Thais with employment. That is why there are a number of restrictions for immigrants for doing business in Thailand.
First, foreigners can start their own business, but their share can not exceed 49%. This means that in order to open a business, non-residents must have a Thai partner. Of course, there are some exceptions: in some areas a foreigner can own a large percentage of shares if his business is governed by the The Foreign Business Act.
Second, in order to do business legally, you need to get a special license, providing a certain package of documents in Thai.
Third, the sum of share capital must be at least 2 million baht. Non-residents can not own commercial real estate in Thailand, they are only available for a long-term lease. And the ratio of Thai and foreign employees in the enterprise should be 4 to 1.
The Thai government actively supports those entrepreneurs who have a beneficial effect on the competitiveness of the country and its economy, introduce scientific technologies, help save resources and preserve the environment.
The most profitable business in Pattaya for foreigners:
• Restaurants and bars. As Pattaya is a tourist center, the restaurant business is very popular. But don’t forget about a strong competition: a successful café or restaurant should differ from competitors and be attractive for customers.
• Transport rent. The size of investment in this business depends on the size of the car park and types of transport. A budget option for a start is renting out motorbikes, which are very popular among tourists. The main thing is to think over the terms of the rental, to minimize the risk of non-return of transport by customers.
• Import goods. If you have a reliable supplier of interesting products in your country, maybe this product will also be in demand in Thailand. You can also open a store with unique products for tourists or locals.
• Renting housing. By signing a contract for long-term rent of an apartment in a condominium at a reduced price, you can rent out housing to tourists for a short period of time at a higher price.
• Kindergartens. This business is also rather popular in Thailand. By completing the necessary documents, you can open a kindergarten, for example, for mixed groups or an elite institution with the division of children into groups with different languages.
You can also study the offers for sale of ready-made business in Pattaya and choose the most profitable and interesting to you. There are a lot of such offers here and this does not always mean that the business is unprofitable. Perhaps the last owner decided to return home or do another business. It is a good idea to seek an advice from professionals in this field to determine which direction develop in the future. Naturally, doing business in Thailand, as in any other country, requires some skills and knowledge to solve current problems. But successful business in Pattaya will let you earn a living and enjoy this amazing city.