Guest Posted October 21, 2001 Report Share Posted October 21, 2001 I'm just trying to get some basic info for some friends. How much does it cost to register a company in Thailand? He has been quoted 100,000 Baht which seems a lot to me. For this two work permits will be issued. They also need to employ a miniumn amount of Thai staff and have at least an additional 100,000 Baht capital. This is one of those 'friend of a friend" type deals. I wonder if the friends are recieving a big kickback. Would the Embassy be a place to find out more? Many thanks Link to comment Share on other sites More sharing options...
CondomKing Posted October 21, 2001 Report Share Posted October 21, 2001 I would advise your friend to do some checking around with various accounting companies and business service companies before deciding who to hire for this work. There are a number of them in Bangkok who specialize in working with foreigners. They will all be eager to offer an initial meeting and outline what is necessary and how much the fees and services will cost. It is not necessary to pay any deposits or sign any agreements or contracts until your friend is 100% satisfied that he has found a person/company that he feels comfortable with. Some will really try to pressure/embarrass a potential client into signing an agreement during the consultation. Believe me, if you are not ready to sign, don't do it. My experience with the company I hired wasn't too miserable, but I could have done better if I'd looked around. They made mistakes, had to register my company twice, the associate handling my account left during all this and the new person couldn't speak English, it was a really a TRIP and took over a year. There will be various application fees and service charges for all of the forms and applications that need to be registered. These are all very specific and the agent should be able to break it all down so that your friend knows exactly what he is paying for. Of course, there will be the tendency to provide a foreigner with the "super delux all inclusive package", which may or may not be necessary. For example, it may not be necessary to apply for a work permit, at least, not right away. You don't need one to own a company in Thailand. Without a work permit you can still own the company (my wife is the general manager, a company executive and minority shareholder) and without a salary you can save on payroll taxes and the number of required Thai employees. You can still apply for a one year muliple entry non immigrant visa by submitting a letter with a business letter head stating your intentions, along with any other business documents that you might be able to present. Also, if your friend is an US citizen he may prefer to register as an American company under the Treaty of Amity and Economic Relations. This is a good idea even (especially?) if he has a Thai wife since this type of company must always have American citizen(s) as the majority shareholders. Keep in mind everything happens slowly in Thailand and this is a very beauracratic process. On the other hand, there are a number of different ways to legally own and operate a business here. If possible, try to keep it simple and at the same time obey whatever laws need to be observed, taxes paid, rules and regulations, etc. One thing I can advise going in is that if you do have a registered company of any kind in Thailand you must have a business address where you can prove that you are actually doing business. A mailing address does not fulfill the requirement. You will receive visits from agents of various labor departments and ministries to do a check of your company and a search of the premisies. In order to register your business at any address you must submit copies of the "house papers" and the property owners ID, etc. If you are planning to register at your home address, be advised that you cannot do it with out all of the necessary documents from the landlord. Good luck. Link to comment Share on other sites More sharing options...
Guest Posted October 22, 2001 Report Share Posted October 22, 2001 I recently went Co., Ltd. with one work permit and 2 million baht registered capital. Total cost 38,000 baht. 100,000 is way over the top, shop around! Link to comment Share on other sites More sharing options...
Fatbastard Posted October 22, 2001 Report Share Posted October 22, 2001 Spent 28,000 most of which went on licences! but no work permit as I had believed that the company had to be operating for two years (or have tax history back 2 years)before a WP would be approved. Link to comment Share on other sites More sharing options...
gummigut Posted October 22, 2001 Report Share Posted October 22, 2001 Please go to ethailand.com and read the information and links to government websites. All the information is there. They also have links to law firms that generally outline the requirements as well (least they did when I did my diligence over a year ago). Basically you need 2 million baht registered capital. This does not have to be all upfront. If you get revenues over the next two years (I believe it was 2) from overseas, this can be counted if I remember correctly. To get a work permit, you need to get incorporated. An Inc. company needs 7 partners and Thais have to own over 50% of the company although the voting rights can give you majority say (unless you are an american and register your company via the amnesty agreement previously cited). To get a work permit, you must be paying taxes for 4 thai employees (4 thais per one WP). Of the four, one can be your accountant who will do your annual return, one can be the lawyer who sets up the company, one can be the lady who cleans your apartment, and maybe you can fill the fourth with a secretary or some'n Best of luck to yah, <<burp>> Link to comment Share on other sites More sharing options...
Guest Posted October 31, 2001 Report Share Posted October 31, 2001 know 2 guys who set up a Thai Ltd for 15,000 THB ea. and the paralegal at the law firm is an english guy. Link to comment Share on other sites More sharing options...
Guest Posted November 4, 2001 Report Share Posted November 4, 2001 quote: Originally posted by farangbaa: know 2 guys who set up a Thai Ltd for 15,000 THB ea. and the paralegal at the law firm is an english guy. Farangbaa, care to give up more details? Particularly, what are their nationalities, did they get work permits and what is the general nature of their business? Regs, Link to comment Share on other sites More sharing options...
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