A number of foreign investors, especially those from Western nations like the United Kingdom and United States have a dream of running their own bar in Thailand. Some investors think of it as something of a retirement fund without really knowing the intricacies of company registration in Thailand. It is widely believed that bars in Thailand are among the most lucrative businesses in the nation.
Certainly, with an estimated 17 million tourists visiting Thailand each year as well as the huge population and reputation for wild nightlife, successful bar owners in Thailand are certainly wealthy. As well as the need to be careful when it comes to financing the bar and estimating the amount of money required to keep it running, investors must also be aware of the issues they face when it comes to company registration in Thailand.
Please click here For our full information & services fees for company registration in Thailand
Restrictions
One issue with bar ownership in Thailand is that only Thai and US citizens can actually own a majority of the shares. For everyone else, it’s a matter of finding a Thai partner that’s willing to invest in at least 51% of the bar. As is the case with a restaurant, you will need an alcohol license, cigarette and food licenses (if you sell these items) and a copyrights license if you wish to play music.
What You Must Be Aware Of
It is easy to ignore the specifics of running a bar when you are worried about company registration in Thailand. The best thing to do is enlist the help of a qualified legal team. Companies such as Tila Legal have a mixture of Thai lawyers and legal experts from nations such as America and New Zealand. There are a multitude of licenses that you may need to run your bar; otherwise you will be operating it illegally. Depending on your location, bars have to close at 12am or 1am. Although the authorities are often lax with closing times, you don’t need any extra hassle if you have just moved to Thailand.
Why You Need A Legal Team
You don’t just need your legal team to deal with company registration in Thailand; you also have to get legal advice when it comes to the lease situation. Bars have a habit of changing hands with regularity so it’s vital for you to carefully review the lease before signing anything. Again, a legal team is your best option. It is not unusual for owners of bars to request key money, something that is not always mentioned in the lease agreement. Therefore, you need to ask the owner if they want key money. It is important for you to ask this question as it could involve a substantial sum of money, millions of baht in fact.
If you have a plan to go into the bar business, seek legal assistance when it comes to company registration in Thailand and all matters related to the bar industry which has its own unique rules and regulations. Never assume that one form of business in Thailand is subject to the same laws as another.
Filed under
