Wisarut

BOI people won't pay attention the most to the cash flow analysis or any ROI, ROE, Cost/Benefit ratio or any financial ratio. Because the BOI won’t provide financial support to the applicants, BOI will pay attention to the marketing side and how your project help Thailand development in economic.

The history of the project key person, the market size, the product strategy map, the value chain in the industry, the five competitive forces as Porter’s model, and how your project help new business opportunities in Thailand are the most importance to the BOI.

Since your project has been approve, other project like yours, come to BOI at the later time, are likely to be rejected if there are no more room in the market.

"It sounds as though the Software Park may be a good recruiting ground. I was thinking of taking on graduates from the universities, but if they are consolidated in one place it makes things easier.”

The software park’s purpose is to serve above.

“At the moment, however, my focus is on company formation and getting the infrastructure and processes in place and functional. It seems that the BOI approval will not happen in time for this. So I still have the problem of protecting my investment (i.e shareholder majority) in the initial 2 months. It is not acceptable to trust a person I have never met or have a history of dealing with in control of accounts and assets so I still have one hurdle to overcome."

After you have got the BOI approval, you will form the company with 100% foreign shareholder.

BOI have the “Investment Service Center” provide the service such as yours.

The THB 2Million is enough; the work permit in viewpoint of BOI is the way to invite investor to bring in the knowledge people to work in Thailand. That’s mean the more work permit is the more prefer, as long as they come here with their knowledge to transfer to Thai people, in the form of on the job training.

For your business model, the machinery import tax exemption/reduction incentive of BOI would be benefit to yours, as you would import the testing equipment or design equipment from the technology source. If you import any raw material to use in the process, the BOI can also give you the raw material import tax exemption/reduction incentive. Your strategic plan will be the good point to negotiate with the BOI.  

Software Park Thailand is a government agency under National Science and Technology Development Agency was established to stimulate the development of Thai software industry. The software park and the BOI are working together to invite investor from oversea. Then the software company locate in the software park can get income corporate tax exemption as same as they are in the Investment Zone 3.

For more information, just go to www.swpark.or.th. Or mail to Mr.Rom Hiranpruk, Ph.D. [email protected]. He is the director of the software park. Just tell him that you have got information from Khun Wisarut.

The THB 2Million is enough; the work permit in viewpoint of BOI is the way to invite investor to bring in the knowledge people to work in Thailand. That’s mean the more work permit is the more prefer, as long as they come here with their knowledge to transfer to Thai people, in the form of on the job training.

For your business model, the machinery import tax exemption/reduction incentive of BOI would be benefit to yours, as you would import the testing equipment or design equipment from the technology source. If you import any raw material to use in the process, the BOI can also give you the raw material import tax exemption/reduction incentive. Your strategic plan will be the good point to negotiate with the BOI.

I don’t know exactly of the Treaty of Amity and Economic Relations between Thailand and the United. I will ask my friends at the Commercial Registration Department in tomorrow and tell you more.

As far as my experience, there are many American tour companies doing the business, in the list 3 and already got the business license. For the photographic tours, I don’t think It will have any difficulty since Thai government always arrange visit Thailand promotion activities by inviting foreign photographers to take picture in Thailand.

The advantage of your own company is that your can take control by yourself, and you can get customers royalty to your business. In my viewpoint, if you can reach the outcome, the easiest way is the best. Let me ask from my friend about the “Treaty of Amity” at the department, then tomorrow I will tell you more. Also I think you need the work permit to run the business.

“A Royal Decree in 1973 listed 39 occupations and professions that were then prohibited to aliens.” They prohibit to the persons who perform the work, but don’t prohibit the company to do the work. The example is that your company has to hire Thai guides to guide your customers to the place to take the pictures, but you can command your guide go to anywhere which is the most beautiful to take the picture. The work permit would be issue to be the “Photographer Specialist”, but cannot issue to be the “Tour Guide”.

Please don’t hesitate to ask more questions, or if it is involve business secret, e-mail me.

For 6.5.9 Electronic design (Category 5.7) is classified as a priority List of the BOI. That’s mean; you can get the corporate income tax exemption 8 years, no matter where your location is. In ordinary case, the 8 years tax incentive will be grant to the project, only in the Investment Zone 3. The corporate income tax exemption includes revenue from sale of products and related products, which are of own design but manufacture by others.

For 6.5.10 Software (Category 5.8), the corporate income tax exemption would be 5 years out side the Software Park, or 8 years for the location is in the Software Park, or in the investment Zone 3.

For your business model… The best fit to yours, would be in the category 5.7… The minimum investment is 1 million Baht only, but the more investment the more BOI prefer. Your number of Thai employees makes no difference in BOI decision-making, as the BOI law can allow them issue no limitation number of work permit. The strategic plan is the most importance.

As the ex BOI officer, I do confirm that BOI can approve your project on time of 2 months. You need the cooperator to keep contact and feed the information to the BOI officers who has responsibility to your project. The delay project approval always from lack of information need. It’s may be almost all of lawyers at law firm don’t know the business model and don’t know the technical. Your strategic plan is the most BOI pay attention to.

For sake of work permit, once you submit the application to BOI. You eligible to get the work permit under section 24 of the BOI law. This allows you to get 6 months work permit, until BOI approve your project. After the project is approved you can get 2 years period.

For the detail of your meeting at Bangkok… I will talk to some directors involved your project, and then tell you via your e-mail, the available time of them during the June 3rd 2003.

If you have any questions please don’t hesitate to post in the board, or e-mail me.

First of all, I do confirm that Thai government really wants serious investment from overseas.

For your question, you can submit the project plan to the BOI, without any company registration process. After the BOI approve your project, you will form the company with foreign shareholder up to 100%.

To avoid wasting time and resource, you need to have someone who knows BOI procedures, criteria, and people at the BOI to help you prepare the project. It need time at least 2 months to get the approval and another month to get the certification. Just the BOI’s approval can allow you to get 100% foreign shareholder.

Please take a look at this link… http://www.boi.go.th/english/boi/activity.html Then tell me, what is the business categories you would like to set up.  We will talk in more detail…

Thank you to George… for mail me the topic… Nola, My question is, what is the specialty tour company you would like to form in Thailand. Take a look at this link…http://www.boi.go.th/english/boi/section7_2545.pdf.

There are two business categories 7.3 and 7.4 pertaining to the tourism promotion service. Basic requirement is 1 million bath minimum in investment exclude cash flow and land.

For the BOI promoted company, BOI will issue you the unlimited number of work permit as long as necessary for your business. The foreign shareholder can be up to 100 %. The income tax exemptions in both categories are varying to the location of your business.

The general guide tour is in the List three of Foreign Business Act B.E.2542 (1999). To run this business category, you must have foreign business license. The license can apply at Commercial Registration Department, Ministry of Commerce.

There are 2 ways to stay in Thailand...

1) Buy Condominium... I can't remember how much you gonna spend... Contact Khun Apassara Satayavatin... 02-693-9333 Ext. 103 at One stop service for Visa & Workpermit Rachadaphisek... ask her for condition for permanent residential... Tel her that Mr.Wisarut Recommendation...

2) Setup company... Share register at least 2 Million Baht + Hire 4 Thai empolyees... for 1 Work permit+Visa... You can Your wife's Visa will be grant along with your Workpermit... Your work permit will be renew every year... This will be very much procedure...

I think the first way will be more convenient... ha ha... Go get contact Khun Apasara.... She is Government Officer...

Q. 1. Are there any One Stop services available to us "normal" farangs that maybe have 2 million baht to invest in a business?

A. BOI/One Stop services at Rachadaphisek... is availble to normal farang...

Q. 2. Please tell us more about the One Stop Center! Are there officials from Immigartion, Labour Dept sitting there stamping, or do you need to send the stuff to the different places?

A. BOI/One Stop services at Rachadaphisek... is consist of the government officers from three organizations... BOI, Immigration, and Labor department... They have their authorization in there areas... BOI has authorization only the BOI promoted company... Immigration for VISA... Labor department for work permit...  

The "normal" farangs that maybe have 2 million baht to invest in a business... can apply at the one stop...

Appreciated Sir...

I just found the "Special Member"... at first I tough, just because it need to be verified by the board's owner... ha ha... Very happy for that...

1) The department of employment cannot change type of visa from Tourist Visa to a Non-Immigrant visa... They have the form Tor tor 3 (http://www.doe.go.th/workpermit/listdocument.html)...  this form is for the expat who cannot get Non-Immigrant visa... the employers will submit the form for workpermit of their expat. After the department take consideration, then will issue the letter to expat to get Non-Immigrant visa from outside the country...

2) The BOI "can" issue letter to other government organizations to change other visa type to Non-Immigrant visa.

3) I'm not the government's officer right now. I'm scholarship student of BOI. Now I'm setting up my own business... It would be the software hourse... I'm the one who develop the transaction processing system in the BOI's Visa & Work permit Unit...

Appreciated again sir.

1) The most popular is Co., Ltd

2) Foreign can hold up to 49%... except (1)having Thailand Board of Investment Certification(BOI Promoted company)www.boi.go.th... or (2) Have got foreign business license....http://www.thairegistration.com/eng/foreign/fba1999.phtml

There are a lot of formations fit to the topic.

Let’s say…

1) Get the Non-Immigrant B Visa (www.mfa.go.th)

2) Apply for BOI Promoted privilege… then under the section 24 of the BOI’s law you can get the work permit up to 6 month.(www.boi.go.th)

3) After you get the BOI Certification… you can get privilege along with the work permit as long as you work in your company…

The BOI promoted company can have 100% foreign shareholders…  

There are list of business activities which can apply for privilege… the most popular is software house business...

for more detail please contact... [email protected] or contact... [email protected]

The best way to check the behavior of bad agencies is to call...

One Stop Service Center for Visas and Work Permits for Foreign Investors, Experts and Correspondents is located at Krisda Plaza, 3-5th Floors, 207 Rachadapisek Road, Dindaeng, Bangkok 10310, Tel. (662) 693-9333-9, Fax. (662) 693-9340.

....

Deputy Director is Khun Apasara Satayavadhin... Extension No. 103

Or Khun Bung-On Thita-phisarnpol... Head of Work permit Unit... Extension No. 104

Just tell her that Mr.Wisarut recommendation...

The bad people are all around the world... but the majority of Thai's government officers are free from corruption...

As former government's officer... I feel very bad for this event...