Buying a small hotel in Thailand. Questions.

Hello, guys
Well, one of my weirdest dreams. To buy a small hotel and to move to Thailand.
I've read everything I found. Ive studied everything I could. But still.
I know it will be complicated and doubtful in terms of big profits. But this is the case when "it's better to regret what you did than what you didn't do."
So, for the full image in my head, I need real numbers. Taxes, expenses. Main stuff.
Who has experience in running a similar business? Help me please.
-@SnowHater

The land which "your hotel" is built on can not be bought by you. A foreigner can not by land but you can lease it long term. It's the same if you want to run a guesthouse. But as a foreigner you can't run it by yourself. You need Thai staff. This is just a piece of information.

@Leeds forever!

Thanks)

I know this. Just need to better understand the process, cost, taxes, whatever. Real numbers.

@SnowHater  very important..  be sur that the hotel already has the hotel licence. It is the only thing I know about hotels in Thailand. It is quite impossible to ask the hotel licence if the building has not been built with all the requirements included in the hotel licence. Hope it helps a little bit.

@SnowHater Hi, i can give you all the information you like to know. I run a small Hotel restaurant in Chiang Mai. Can i contact you directly?

@RoyHefti hi

I've sent a message)

@SnowHater

I have hotel business in Thailand. Perhaps I can help you.

@SnowHater you want to enter in the never ending risk....?

You cannot buy a hotel in Thailand like you think is done abroad...

You cannot posses the land as a foreigner and so a building on it is something uncertain too.

To buy land you must establish a company in which you put the 100% of money but must have a Thai partner that will own by low the 51% and you have the 49%. Then the company where you have 49% can buy the land with your money. Then either you build with your money a new hotel or there is already one that you have to buy again with your money at a huge cost and risk.

You can instead rent a hotel with a licence, and pay Key money, Deposit money, and monthly rent mostly paid in advance for 1 year before starting, then hire and pay salary to at least 4 Thais, then you have to deal with unexpected check of police, without knowing the language and what they want....and if you fall in hands of lawyers you will pay even your soul to them.

Here Thais prevail always, cause the rules are made for them and between them is one way but towards foreigners is completely in their advantage and we are the ones to be must squeezed and then Go back your home...

Cause visa system is also made to be uncertain and to be extended yearly, don't forget the work permit that have to be done and paid with good money......

Don't dream... Here it becomes nightmares

I agree.  Just buy 2 condos.  I you live in and another your rent out.  You get squeezed, you lose little. 

@RoyHefti

Hello Roy,

Is it possible to contact you in private to ask you few questions about your experience .

Thanks and best regards,

Julia

@Kish59

Hello Kish,

is it possible to ask you few questions about your experience?

thanks

best regards,

Julia

Hello Key2023,

Welcome to Expat.com

Feel free to ask your questions on the forum itself.

Cheers,

Cheryl

Expat.com team

@Kish59  Can I get some information from you?

@Maxi Mari How would the visa/right to work permit  work if your own the company

@RoyHefti

Hello  like the person who posted…i have the same dream  Arriving in Thailand beginning of December (2023) & would welcome any advice 

🙏🏼🙏🏼🙏🏼

@fusionchefgirl

Hello and welcome !

Do you also want to buy a hotel ?

Regards

Bhavna

@RoyHefti do you get good income

Regularly

@Kish59 is it still profitable

We have some small hotels for sale in Krabi if you are interested

    We have some small hotels for sale in Krabi if you are interested        -@KrabiMan

If you're addressing a certain person, click on Quote below the post to the right.

@SnowHater  There are 2 kinds of tax , if buyer buy on behalf of company , the company has to pay VAT 7% , for broker seller have to  deduct 3% for personal income tax , and  there are others fee at land department when tranfer title deed