Doing Business in Thailand: Is it a developed and safe country?

February 1 2012 Categories: Doing Business In Thailand, Understanding Thailand No comments yet

Is Thailand a safe country?

Yes. Thailand has low violent crime statistics compared to other countries such as France or the US. Of course, violence does exist but is not often directed at foreigners. While there are from time to time crimes against foreigners, they are still rarer than in your homeland and when foreigners do get into trouble, they, often bring it upon themselves.

Is Thailand a developed country?

They are more than a few Tom Dick and Harry that come to Thailand armed with a “colonial” false sense of superiority. This is a mistake, even if Thailand did not yet achieve European, Japanese or US standards in all matters do not be mistaken about it. Thailand is a developed country. Right now Thailand classify as “a middle income” developed country. Anyone who thinks that being an American or French or an Australian will give them a head start over the locals is in for a big surprise.

Is there something dangerous about Thailand?

Whilst Thailand is a safe country there is still something dangerous about Thailand. I cannot point what it is, whether it is something in the air, or too much somtam (local spicy papaya salad) or Singha (local beer) but from time to time an ordinary person will lose all focus and reason and over a few years will go from the status of a respected professional to a pitied fool.

As a boxer in a ring that lets his guard down is second from being knocked out, new comers in Thailand will be for a period at risk to lose it. It will not come as a surprise if I tell you that 99% of the subjects affected are male (is there something wrong with our chromosomes or too much testosterone maybe?).

What can surprise you is to learn that social status (middle class or high so), ages (young or old) profession (blue or white collar) status (married, single or widower) do not matter.

Every man that comes to Thailand is at risk. Father and husbands that have spent a few weeks in Thailand will leave their families and jobs and come back to try to make a living in Thailand. An expatriate working for a multinational company; with excellent career prospect; will upon to be transferred out of Thailand resign from his job and forfeit a promising career just to stay here.

Professionals that were making 200,000 USD per year will often agree to take a job where they make 15,000 USD per year just to stay here. Some of them (more than a few) will burn the candle at both ends and self-destruct and end up throwing themselves from the balcony of their condominium (sometimes after having first beaten or killed their Thai girlfriends) or ending up homeless, beggars. Thailand paradise or hell, at the end of the day, you have to choose which Thailand you want to live.

How to protect yourself against this?

I would love to tell you how to protect yourself against this danger but the truth is I do not know how. Everyone deals with it in his or her own way. Personally, I have been involved in a committed relationship for nearly 10 years and this helped. In addition, if you enjoy entertainment, keep it under control (being wasted once a week is enough, believe me) especially if you have turned in your forties.

Is there a gold fever in Thailand?

Yes definitely. It is a by-product of this “little something” I was mentioning above and you will see careful and cautious businessmen, who never make an investment in their home country without having lawyers and accountants reviewing every aspect of the deal, making fools of themselves and throwing money away (you cannot call this investing) by deciding (within 1 hour) to invest hundreds of thousands of dollars in some existing business or vague startup company based on the shallow promises of a partner they barely knew and on a business plan drafted on a half paper napkin. In ten years I have seen millions of US Dollars blow up in smoke.

Is it easy to get rich in Thailand?

It is possible to invest in Thailand and to make a good return on your investment. But making money in Thailand is not easy. It will require work (and a lot of it). Investors here definitely have to work more than in Europe.

Personally, a day at work is between 10 to 12 hours average (and sometimes more if needed). Now working a lot helps but still might not be enough. I know of people who are really putting a lot of effort in their businesses but barely make it. Now one of the things that make Thailand such a great country is that even when you work a lot and finish late there is always something to do after work.

You can do your shopping 24/7 or find a restaurant or a pub open at anytime (walk in the streets of Geneva after 19.00 during the winter season and you will understand what I mean).

How helpful are foreign embassies in Thailand?

It is a simple statistical matter that some of you who will read this guide will run into trouble of one sort or another when in Thailand. So can you count on your Embassy if you are in deep trouble?

To give honor to where honor is due I will start with the French Embassy. If you are a French national and if you think that you might run into trouble in Thailand you should get yourself naturalized a Swiss or German citizen before coming here. One of our clients spent nearly 6 months in a Thai jail before receiving a visit from a representative of the French embassy. It makes you wonder why French people pay their taxes.

Over the years, I‘ve heard many stories from my clients that describe the short comings of the French Embassy but I will hold my tongue, at least for the moment.

From personal experiences and from what I hear, citizens from the US, Switzerland, Sweden and Germany do not need to worry; they will be well cared for (Swedish and German diplomats in two cases, I can remember, went far beyond the normal call of duty to help their compatriots and have gained my admiration since then).

Others I cannot judge (please feel free to send your comments on this matter I will include them in the next post. To be fair to the Embassies, even the French one, they have to handle some pretty serious stuff (especially when dealing with those of their citizens that have gotten this little something I referred above) and there is a limit to what one can do to help.

About the Author:

The author Rene-Philippe DUBOUT is a lawyer since 1990 when he was admitted to Geneva bar (Switzerland). He practiced as a litigator there for 10 years until he moved to Thailand in 1999. In 2002 he founded with a group of Thai lawyers Rene Philippe & Partners Ltd a local law firm that specialized in Cross Borders Investments and Real Estate. He has been lecturing in several Thai Universities and a speaker to numerous conferences and seminars. He is the author of a must read book:”How to Purchase Real Estate Offshore Safely: The Case of Thailand”.

http//:www.renephilippe.com

Originally posted 2009-07-23 13:06:14.

Doing Business in Thailand