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The best way to buy a business in Thailand is through a limited company. In order to avoid various restrictions imposed on the operations of a foreigner, it is advisable to set up a company with 51% of the shares owned by a Thai or other Thai legal entity. The non-Thai shareholder(s) will have control through the issue of shares with increased voting rights. To register a company you need 2,000,000 Thai baht (£28,500) as capital. If your annual income exceeds 1,200,000 baht (£17,000) you will have to register for Vat.

You will need to obtain a non-immigrant type “B” business visa from an embassy or consulate outside the country. This is normally issued for a 90-day period. Once you have entered Thailand you can apply for a work permit. But the process can be complicated for foreigners who are not familiar with language or the local bureaucracy, so it is much easier to employ someone to do this on your behalf.

It is always advisable to employ the services of local lawyers, but make sure they are reputable. Alternatively, there are companies that specialise in taking care of all the paperwork for you, such as Bangkok Base (00 66 2664 3445).

Bill Blevins is managing director of Blevins Franks International, an independent firm providing tax and investment advice

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