Buying a Business on Phuket:
Buying a Business on Phuket – Owning and Operating your own business on Phuket
Many people who come to Phuket to settle or retire eventually think about buying a business, either to generate an income stream or just as a way to keep themselves entertained. Medium or larger businesses may also offer the option of a Non-Immigrant B visa and a work permit, thus legalizing your stay in Thailand.
A great variety of opinions exist about business in general and specifically about the best types of businesses to buy. Deal with one of the two major business brokers in Thailand: Sunbelt Asia, or Thai Start Up.
Don’t think about getting involved in business in this part of the world without the help of qualified professionals. Accounting standards and practices are not up to Western expectations and legal remedies may or may not be practical when there have been misunderstandings or misrepresentations. Make sure you do it right.
NOTE: Thai Rules and Regulations can change without notice. Be sure to seek competent LOCAL legal assistance before buying or setting up a business in Thailand and Phuket.
Two of the more reputable firms dealing with business start up and purchase and transfer of existing businesses are:
Thai Start Up seems to be more oriented toward business start ups, but may also be involved in transfers as well.
Sunbelt Asia sponsors the Jobs, economy, banking, business, investment in Thailand forum at the Thai Visa website – a good site to visit to learn about conducting business in Thailand.
Be aware that a foreigner needs a Thai partner to start a legal business in Thailand. You might hear differently, but seek good local legal counsel before committing any more a project.
Buying a Business on Phuket