Thaiquila Posted May 4, 2005 Share Posted May 4, 2005 OK, I have a novel idea for a small restaurant. Not even yet getting into the visa questions, or the 2 million baht capitalization questions, if I did this I suppose I would need a work permit to the be company's director. As an American, to maintain my work permit, would I be required to have the company pay me 60K per month salary, or if not, what are the compensation rules, if any. I wouldn't expect such a venture to be profitable the first year, so paying myself 60K salary would be a little silly. Perhaps there is an alternative requirement to pay the tax on such an amount? Thanks for your answer(s). Link to comment Share on other sites More sharing options...
davethailand Posted May 4, 2005 Share Posted May 4, 2005 You can pay yourself what you like but on paper and tax wise you have to show 60k. Salary tax on 60k is around 5000bht per month. Link to comment Share on other sites More sharing options...
bkkmadness Posted May 4, 2005 Share Posted May 4, 2005 Sure it's that amount Dave? I know you got a business and all so should know, but I have been chatting with sunbelt about the same thing before and I'm sure they told me it was just 30-40 k a month every month on paper which worked out to about 2 k tax? I could be totally wrong of course, probably am. Link to comment Share on other sites More sharing options...
Indo-Siam Posted May 4, 2005 Share Posted May 4, 2005 For a work permit, they no longer have a formal salary minimum. We have successfully and repeatedly processed westerners married to Thais, with a 40,000 baht stated salary - enough to exceed the magic "400,000 baht per year" income, to qualify for a marraige-based extension. But - to sponsor a work permit for a foreigner not married to a Thai, a company must have 2,000,000 baht registered capitalization - and must also be registered for VAT - and there is generally no sliding around these two rules. Cheers! Steve Sykes Managing Director Indo-Siam Group Bangkok [email protected] www.thaistartup.com Link to comment Share on other sites More sharing options...
davethailand Posted May 4, 2005 Share Posted May 4, 2005 Sure it's that amount Dave? I know you got a business and all so should know, but I have been chatting with sunbelt about the same thing before and I'm sure they told me it was just 30-40 k a month every month on paper which worked out to about 2 k tax? I could be totally wrong of course, probably am. <{POST_SNAPBACK}> I just look at the salary tax sheets that are made by accountant and it shows 60k for my guitarist, 50k for me, 40k for the filipino singer and 50k for by norwiegen organ player. Link to comment Share on other sites More sharing options...
davethailand Posted May 4, 2005 Share Posted May 4, 2005 Just to add my guitarists year visa renewal was held up because his salary tax payments were based on less than 60k per month. I had to pay the extra tax before they would process the applicaton. Link to comment Share on other sites More sharing options...
Sunny Valentine Posted May 4, 2005 Share Posted May 4, 2005 I think this is based on nationality: 6000o for Americans, 50000 for Europeans, less for Asians, but don't know details of the other nationalities. Sunny Link to comment Share on other sites More sharing options...
Indo-Siam Posted May 4, 2005 Share Posted May 4, 2005 This thread is getting mixed up. The original request was about WORK PERMIT - not "visa" (which really means "entry permit"). No real minimum salary is needed for a work permit. 60,000 baht salary IS required for an American to obtain a long-term entry permit extension based on employment - as is having at least four Thai employees. But - this has nothing to do with work permit. Cheers! Steve Indo-Siam Group Link to comment Share on other sites More sharing options...
davethailand Posted May 4, 2005 Share Posted May 4, 2005 60,000 baht salary IS required for an American to obtain a long-term entry permit extension based on employment - as is having at least four Thai employees. But - this has nothing to do with work permit. Thats what my post was based on. 4 long stay visas with work permits and 30 thai staff. (and alot of headaches) Link to comment Share on other sites More sharing options...
Totster Posted May 4, 2005 Share Posted May 4, 2005 This thread is getting mixed up. The original request was about WORK PERMIT - not "visa" (which really means "entry permit").No real minimum salary is needed for a work permit. 60,000 baht salary IS required for an American to obtain a long-term entry permit extension based on employment - as is having at least four Thai employees. But - this has nothing to do with work permit. Cheers! Steve Indo-Siam Group <{POST_SNAPBACK}> I though there was some deal for US citizens... something about being a sole trader, some special agreement... maybe I'm getting mixed up with something else.. totster Link to comment Share on other sites More sharing options...
Indo-Siam Posted May 5, 2005 Share Posted May 5, 2005 People get mixed up when they talk about "sole proprietorship." They seem to think that this means "one person company". That is not the case. "Sole proprietorship" is a form of business entity, and has nothing to do with number of employees. A sole proprietorship may employ hundreds of people - it is simply owned by one person, and all its income is taxed at the owner's personal income tax rate. Additionally, all assets of a sole proprietor - including home and personal bank account - are subject to any claims against the company - theSP has unlimited personal liability. An American CAN form an SP under the Amity Treaty - but he must still demonstrate paid-in capital of 2,000,000 baht, be registered for VAT, and have at least four Thai employees, to obtain a long-term entry pemit extension based on qualifying business employment. Cheers! Steve Sykes Managing Dirtctor Indo-Siam Group Bangkok [email protected] www.thaistartup.com Link to comment Share on other sites More sharing options...
davethailand Posted May 5, 2005 Share Posted May 5, 2005 The capital for the club is currently 8 million, (It was 14 million 7 work permits) Now as said I have 4 but I'm looking to replace one of the farang musicians with a thai guy and bring it back down to 6 million, A bit more off the tax Link to comment Share on other sites More sharing options...
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