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BANGKOK 21 November 2018 16:59
mikosan

Can a Farang Hold the Lease for a Bar in Their Name?

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Posted (edited)

A quick question and whilst I appreciate that many will only too quickly say 'why would you want to run/own a bar', I'm already fully understanding of the scepticism about this, but I'd like an answer to the actual question please.

 

A friend is interested in buying the lease on a bar, to run as a hobby, rather than a money making exercise.  He would like my Thai girlfriend to manage it for him.  He will have to put up the money to buy the bar and, quite rightly, he would prefer to have the lease in his name.

 

I imagine he can't have the liquor licence in his name, so that would have to be in the name of my girlfriend.  However, I am told that this would be difficult if she is not the actual leaseholder of the premises.  Is this correct and if so, any  suggestions, apart from the obvious, 'don't open a bar'.  555

 

Thank you in anticipation.   

Edited by mikosan
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1 hour ago, JAZZDOG said:

Very likely the current lease is in a limited company or you will need to open one. Without a Work Permit your friend can't lift a finger working in the bar, nothing, cant touch the register. Getting a work permit is a pain and he will have to declare 4 employees plus himself, total payroll 90K / month. This cuts into his already minimal profit. He can own 49% of the shares but can't be director or sign for the company, signing docs is work.  He can write into the bylaws it takes 66% shareholders to sell, encumber to insure his say in things but is still dependent on Thai shareholders going along. Doing it legally is really hard to turn a profit. He should take up gardening, believe me, I've been there.

Thanks JD for saying/explaining it once more. No wonder that hardly any Farangs are getting involved in the Bar-Business anymore (it's so retro and so yesterday).


More and more Farangs are getting into gardening. For 90K/month I too would prefer "gardening" over paying 90K for "overhead".
Just thingking how much "overhead" I would be getting by gardening and spending 90K/month makes my heart soar like an eagle.
Cheers.:sorry:

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45 minutes ago, swissie said:

Thanks JD for saying/explaining it once more. No wonder that hardly any Farangs are getting involved in the Bar-Business anymore (it's so retro and so yesterday).


More and more Farangs are getting into gardening. For 90K/month I too would prefer "gardening" over paying 90K for "overhead".
Just thingking how much "overhead" I would be getting by gardening and spending 90K/month makes my heart soar like an eagle.
Cheers.:sorry:

Very true, he could sit in his favorite bar drinking seven days a week, getting laid every other day for what he loses on this hobby idea. My "Hobby" business in Patty is 10X better and it totally sucks, haha!

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5 hours ago, JAZZDOG said:

Very likely the current lease is in a limited company or you will need to open one. Without a Work Permit your friend can't lift a finger working in the bar, nothing, cant touch the register. Getting a work permit is a pain and he will have to declare 4 employees plus himself, total payroll 90K / month. This cuts into his already minimal profit. He can own 49% of the shares but can't be director or sign for the company, signing docs is work.  He can write into the bylaws it takes 66% shareholders to sell, encumber to insure his say in things but is still dependent on Thai shareholders going along. Doing it legally is really hard to turn a profit. He should take up gardening, believe me, I've been there.

The current lease is in the name of the Thai lady who runs the bar, as is the liquor licence and whatever other licences you might need.  The bar was originally started from scratch in one of those shop front town houses and the set up money was provided by her farang husband.  So, as far as I am aware, no limited company.  My friend intends to live on the premises and fully appreciates that he can't lift a finger working in the bar, but that doesn't mean he can't potter around in the background doing the paperwork etc.

 

And before anyone suggests it, no I am not my friend,  as far as I am concerned, bars are for drinking in, not owning.  I simply see this as an employment opportunity for my girlfriend who, surprisingly for a Thai, is keen to do something, rather than laze around watching TV or playing on her phone.  Or better still, get paid for doing that! 

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38 minutes ago, mikosan said:

The current lease is in the name of the Thai lady who runs the bar, as is the liquor licence and whatever other licences you might need.  The bar was originally started from scratch in one of those shop front town houses and the set up money was provided by her farang husband.  So, as far as I am aware, no limited company.  My friend intends to live on the premises and fully appreciates that he can't lift a finger working in the bar, but that doesn't mean he can't potter around in the background doing the paperwork etc.

 

And before anyone suggests it, no I am not my friend,  as far as I am concerned, bars are for drinking in, not owning.  I simply see this as an employment opportunity for my girlfriend who, surprisingly for a Thai, is keen to do something, rather than laze around watching TV or playing on her phone.  Or better still, get paid for doing that! 

If your girlfriend wants to run a bar, she should be able to find this information on her own.

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5 minutes ago, FritsSikkink said:

If your girlfriend wants to run a bar, she should be able to find this information on her own.

Thanks for your input.

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On ‎5‎/‎24‎/‎2018 at 6:21 AM, mikosan said:

I simply see this as an employment opportunity for my girlfriend who, surprisingly for a Thai, is keen to do something, rather than laze around watching TV or playing on her phone.  Or better still, get paid for doing that! 

I simply see this as an employment opportunity for my girlfriend who, surprisingly for a Thai, is keen to do something

 

Ah, if I had a baht for every business that was opened for that reason, I'd be a rich man.

If a Thai wants to work, there are thousands of jobs available, in established businesses, but "owning" one that someone else paid for is always preferable.

I'm calling BS on the GF's "desire to work".

 

As for  "get paid for doing that!", they get paid to have rumpty, and the rest is incidental. 

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