~G~

Its a pain though as my employer banks with SCB, so when I get paid I have to receive cheque from employer, cash at SCB and pay into my bank

You can just deposit it in your bank, it may take a few days to clear.

You can start with certain company objectives, then add more if necessary.

UPDATE: I was just informed by SCB that although their Debit Cards are indeed international, they CANNOT be used online.

otherwise easier to just invest in the share market and make a lazy 10%-15% p.a.

*****

in what far away galaxis is that "share market" located where one can make a "lazy 10-15% p.a."?

In a galaxy where so called financial advisors ignore years in which the market drops or moves sideways The market goes up and down, calculating return based on bull years only is a joke, as well as checking the average yield over decades and concluding that one can spend that average yield every year.

As was mentioned here, steady returns are in bonds. Stocks are important if you are saving for 20 years from now or otherwise, know exactly what you're doing.

Each company in Thailand must have minimum of 7 shareholders. Your first company may be one of the shareholders in the second company.

Kohtao, it is simple:

1. A Guest pays you - you need to Issue a Tax Invoice that includes VAT and collect it from the Guest.

2. You pay the Hotel - the Hotel has to issue you a Tax Invoice that includes VAT and collect it from you.

3. Then you deduct the amount of VAT you paid (to the hotel) from the amount of VAT you charged (from the guest), and pay the difference to the Revenue Department:

VAT to Revenue Department = VAT charged - VAT paid

My lawyer and accounting company never informed me of this.

Simple. Call the Department of Employment (they issue the Work Permits), and ask them, "Can I get a WP if my company is not VAT registered???"

Bangkok :

Alien Occupational Control Division

Department of Employment

Ministry of Labour and Social Welfare

Mit - Maitree Road, Dindaeng

Bangkok 10400

Tel. : (02) 245 2745

http://www.thaivisa.com/289.0.html

I run a travel agency which requires me to take large payments for guests. As an example I might take a payment of 100000 THB from a guest but my commission might actually be only 10000 THB or less. If I am VAT registered am I then supposed to pay VAT out of 100000 THB or 10000 THB?

Out of 100000. Your profit is irrelevant to VAT calculations.

My current accountant have adviced me that since my annual income does not exceed 1,8 mill. I am not liable to pay VAT. However, I have now gathered from searching the net, that my gross income does indeed exceed 1,8 mill. - if you consider all payments such as above income (the large payment) and not just the actual commission. Can anyone answer this question as I do not mind paying VAT if required and since I am quite frustrated with my accountant's anwers.

Regardless of the amount, AFAIK your company needs to be VAT registered in order for you to get a work permit.

I have noticed a lot of bars and guesthouses for sale, why.

They're just popular because they're out there. "I spend so much time in bars, I better own one and save the beer cost" is only half a joke. For those with no prior business experience they seem like easy money. Those with some experience will look a bit deeper.

Is there a living to be made out of such businesses, I dont live in a fantasy world and dont think that I will come to Thailand and make bucket loads of money.

If you do not intend to make lots of money, don't start. Work in OZ and come for long holidays. If you don't have strong enough motivation to make plenty of money don't open a business in Thailand. If you plan to run a business here on a "semi-retirement mode" or if you are looking to make "just a living", "just a bit to support myself" you are more likely to just lose than earn anything at all. Don't open a business as a hobby either.

For foreigners, business here is rough - apart from the difficulties that local business owners face, the government doesn't like you unless you're really big plus you have language and cultural gaps that don't really help. In order to make a living, in western standards, you will need 100% commitment, 1,000% motivation, and 10,000% persistance. And, of course, to be well-financed, to pay for mistakes during the time you learn.

I think along the lines of lifestyle and different cultures for the move, I can make more money by staying here in Oz but I am more interested in a change.

Sound excellent, but if you have saved enough, you might earn more from putting this money in a conservative investment portfolio rather than in a business here.

Anybody know where the re-entry booth is, at the airport?

Anyone?

I have searched for related threads and surprisingly did not find any clear answer. Is there a re-entry permit desk in Suvarnabhumi and, if so, where is it?

AFAIK the broker needs to report the activities to the US IRS, as well as to the Tax authorities in the country of citizenship.

I make lots of plane reservations for Thai domestic flights via the internet when I'm outside of Thailand

I see you point here, but the sums for domestic flights are really not that large and the comissions will be small respectively.

or make reservations for international travel from Thailand while outside of Thailand.

Those are not quoted in baht. They are quoted in USD and converted to baht. You actually save the loss that results from the conversion if you use a foreign credit card.

I for one would like to have a Thai credit card, but do not have a work visa, so it's unlikely I'll be succesful in obtaining one. I work outside of Thailand, but spend a lot of my time in Thailand and make a lot of purchases in Thailand. I'd like the flexibility of paying for many of those purchases with a Thai card for which I can pay my balance in Thai Baht and not need to pay any surcharges for converting my purchases into Dollars, Pounds, or whatever my foreign credit card is based on. As it is now, I just bring a lot of cash with me, which also runs a similar risk of being stolen as would a credit card.

What you say is that you need a Thai Bank account, not a Thai credit card. If you had a Thai bank account, you could transfer money once and use local ATM card whenever neccessary.

I have an account with SCB, and was now told they issue international Debit cards. I Will try that way first.

I opened a savings account with Siam Commercial Bank (SCB) just over two years ago. At the same time they immediately issued me a "Hip Card" international Mastercard Electronic debit card (the card is purple). The card is not personalized but linked to your account. I believe I paid a 100 baht issuance fee and every year they ding me a 200 baht fee for the card. The expiration date on the card is 2014 so I will be holding onto it for a while. I have used the card within Thailand, in other Asian countries and the USA to make purchases (must be swiped electronically -- no manual purchases but can be used online). You can also make atm withdrawals in Thailand and internationally if the atm machine is on the Mastercard Cirrus network. ATM withdrawals are limited to 200,000 baht a day so no worries about being limited in getting cash. Since Thai banks issue accounts regionally there are small fees (20 baht) when using the card at atms outside of Bangkok, including Pattaya (if your account is based in Pattaya then you will pay fees at atms in Bangkok). There is also a fee of 100 baht for making international withdrawals.

So far I have been lucky and have had no fraud on the account, even though I use it extensively throughout Thailand when I go to LOS. I think the fact it is electronic and cannot be imprinted (card is flat) makes it less likely to be a target of fraud. Good rule of thumb is to keep the card in your sight as much as possible. I have dined at many restaurants in Bangkok where they take the card away from the table to run it in the machine and never had a problem with double charges, fradulent charges, etc.

SCB is a great bank and I am very happy with their service. They even have free Swiss Coffee from a Saeco Super Automatic Espresso Machine in the Siam Paragon branch.

Thanks for the detailed post. Their call center told me today that their current fee to get the card is 300 baht. However, I rather have a card which is not linked to the account, to be able to limit the risk in case of fraud without managing an extra account just for this purpose.

I have an account with SCB, and was now told they issue international Debit cards. I Will try that way first.

Thanks for the replies so far. I am not interested to perform purchases in local outlets using the card, the only purpose I am thinking of getting one is to set up a Paypal account (after they included Thailand as a place to withdraw funds to). I have been using 2checkout.com so far, but Paypal charges smaller comissions and seems has some other advantages. I want to minimize the risk of frozen Paypal account and such.

I have understood that Paypal has difficulties (or rather, causes difficulties...) when you withdraw funds to Thailand, if the credit card used to set the account is foreign. Or can you start a Paypal account with a debit card? Do bank here issue an international debit card at all?

Got his attention. Another way - just step into (almost) any Subway restaurant in Thailand and start yelling: Greg! Greg!

I have been reading here several times that Credit Cards issued in Thailand are less safe than those issued in western countries. In case of fraud (for example, you buy something at Central Chitlom, the selling staff writes down your card details, then using it to buy online), it will be much more difficult to claim the amount back.

Is this true? Isn't the credit card refund policy for local Visa cards set by the international Visa company, for example? Or does the local legistlation more relevant here?

Leaving aside the fact that different classes controlling different numbers of votes is illegal in Thailand

And where did you get this information from?

Can't be the full answer not least because sole signatory arrangements are seen as bad practice.

And why exactly is that a bad practice?

I can see how an appropriate structure prevents decisions being taken against the "owner"s" interests.But how can the "owner" enforce decisions he initiates against the wishes of the majority.

Very simple. As a Managing Director who is sole signatury authurity, you just need to use your company seal and sign your name and the decision is made. It is legal, since you are not required to hold shareholding meetings to approve every decision.

Methods specified above by Indo-Siam and Sunbelt assure control by the foreigner. However, it is important to remember that all the shareholders should be real investors and not puppets, or otherwise the setup may be questioned.

Thanks.

Yes certainly be open to frang people, if I can get work permit issued, and proper.

You need 2M baht in registered company capital per WP.