dsieg58
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Posts posted by dsieg58
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American Expat working with an American oil company. We are looking to source oil, any kind, but crude palm and coconut oil especially. This is serious and I will reply to any serious offers. In addition, I will personally come to Thailand to secure the deal. We are looking for sample first, then trial shipment (5-10 MT) if everything OK, we can buy whatever you have available on a monthly basis. Send or reply with price, terms, etc.
Thanks
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But I think I'm going to end up like a second class citizen
Based on your post, I say you should consider other more welcoming retirement destinations. Some you can even become a permanent resident over time.
any recommendations ?
Just somewhere thats warm, friendly, currency thats not all over the place, and I dont have to be kept tabs on, just see my time out
Look into Panama
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Interesting. Thanks for the info. All in all, it does seem a LTD. Partnership has definite advvantages. Does anyone know the employment requirements then for a limited company? Meaning is it the same as for a limited company? (Four thai people) or can it just be 2 partners?
Thanks to all of you.
dns
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What a weird thread this one is --- ah. never mind. Shah Jahahn has previously - many times - exposed himself as a person who lives out there where even I don't dare to go. Feel free to disregard his input, but be prepared to be categorized as fools by doing so.
Actually his reply makes perfect sense. At least to me anyway. (but I'm probably bacon
) I've read the same technique in books in setting up offshore companies, for doing business in repressive (Vietnam) countries. The point in doing so is to give the government as little control over your operations, especially the movement of money, as possible. It also the very same reason just about every major company in every 1st. world country, actually operates (i.e. incorporates) from an offshore location. It's the reason why companies incorporate in Delaware and Nevada in the US, (they are treated as "foreign entities") and Isle of Man in the UK. That a Thai company would use HK makes sense. Foreign money is always treated better.dns
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I was going to spare you 10 minutes of my time writing a detailed reply, until I noticed this sentance..I'd love to get together offline and chat or PM. I haven't quite figured out how to do it on this forum yet, but my yahoo id is dsieg58 if you get a chance.
How the hel_l do you make serious money on-line if you can't even use a forum?
Something smells fishy...
OK, No problem. You're entitled to your opinion. I feel no need to reply to your question, I assume it was rhetorical. You can believe or disbelieve, as you wish. Truthfully, I don't spend time online in forums, unless I have a reason, like now. If I wanted to take the time to learn the in and outs of this forum, and dazzle everyone, I could. But that seems sort of pointless to me. However, it's easier, and quicker, to stay with what I know. The point in me writing, was to learn something about Thai business structures, in order to solve a problem, not impress anyone with my Internet forum savvy. You gave me a good answer, and I'm thankful for that response. (and everyone else's) I've gotten some great advice. More than 3 lawyers put together, 2 of whom who I had to pay for. All in all, it was time well invested so far.
But I feel no need, to justify anything to anyone. Do you?
dns
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Hi Shah,
Now we're getting somewhere. Thanks for the great reply. Khow jai, Khrap.
Ok, a few questions. Actually, more than a few.
Why HK? I understand perfectly about what you're saying, and I agree, don't get me wrong. But why not, say, Panama? (Same no taxes on offshore income, about the same price too) Or does it matter? Is it simply the proximity to Thailand? Is there a definite advantage to incorporating in HK I'm unaware of? Such as HK companies are more acceptable in Asia? I ask because I'm more familiar with the Panamanian business laws and have no clue about HK. I assume they would be modeled after British.
But that is exactly what I'm looking for...no taxes on offshore income, a minimum of BS, and excellent Internet banking.
I agree about wanting to keep the money in a offshore location, absolutely. My personal situation is I'm around the 200k range per month, and simply debit card my living expenses but I'm getting ready to ramp it up (as discussed before) The web sites I'm thinking about doing require me to be in Thailand and Asia for about another year or 2.
I understand your point about having your offshore business owning the 49% share, rather than an individual. Keeping the money offshore from the very beginning, and simply paying business expenses. Smart.
Yeah, that is exactly where I'm at. At the very beginning, Sick of visa runs, and want to set this up properly from the very beginning. "Been there, done that" as far as setting up companies and having them be completely useless within a year because they weren't set up properly to begin with.
Also, what is the cost of running a minimal business in Thailand tax wise? Meaning, what can I expect to pay over and above employee cost? The "total" cost of doing business here? Also, what can I expect time-wise?
(Your opinion) Would there be any advantage to having a HK corp. and an amity company 100% foreign owned (I'm from the US) together? I understand from others that Amity companies are under the microscope.
Thanks again, for the great reply.
dns
HK just because it is close and i know that. If you know Panama better, then use that
As for Thailand, again, no reason ever to have more here than the bare necessity. If you need to hire employees, then just make a company that hires employees or better not even that.
though by snooping at your niches, I am not sure how thai employees can help as it would involve much content writing and setup and it is very difficult to find competent English speakers. the only time I let thais get near a computer is for graphic design.
I would say better to outsource to india and keep living with your laptop.
Thailand is the best place in the world to live, but a horrible place to do business due to corruption, incompetence, non-transparency and moving goal-posts.
keep your home here, but all your business interests overseas.
btw.. nice niches(s)
if you want to discuss offline pm
Yeah, I wasn't sure either how to farm out the English language aspect. I'd either end up doing the proof-reading, or outsourcing the job. Except for the research, it's all English language skills of one kind or another. For that matter, all aspects of this I'd prefer to outsource to India given the choice.
I agree, keep everything Thai to an absolute minimum.
I had a Thai business here in 1995-1998 before everything went into a deep dive economically and spent more time chasing my tail dealing with Thai office politics than making money. Of course, another problem is I LIKE doing all aspects of Internet design, SEO and marketing. People moan about it, but I can't imagine not doing my own. (Or at least micro-managing it!
I need to shed that kind of thinking, I know) It's a one-of-a-kind gig, if you can do it, information products coupled with affiliate marketing are the best gig on the planet if you ask me. I also agree, Thailand is the best place to live, No question. I'm at the point now where I need a secure base of operations, and except for the visa hassles, Thailand is perfect.
I'm going to follow your advice. My original plan was to get an IBC in Panama, and then come here with it. I'm looking into it now. But HK looks OK, too. Couple other places look interesting as well.
Thanks a million for the advice (I mean it) I'd love to get together offline and chat or PM. I haven't quite figured out how to do it on this forum yet, but my yahoo id is dsieg58 if you get a chance. I'd love to chat. Feel free anytime. It really helps having someone to bounce ideas off of. Someone who actually knows what you're talking about.
Yeah, I'm having a blast in my niches. I come up with about 10 ideas a week. Most of them gather dust, which is a shame, because I know they'd be profitable. Matter of fact, I need to brainstorm these one's I've got right now with someone. Problem is, no one knows what I'm talking about. I need to pump more of them (websites) out, quicker, though. I spend too much time building one of them, instead of focusing on building several at one time. (Out-source, I know) But you've got to get the pattern down to where you can reproduce them easily. I got the pattern, now I've got to cookie-cutter them out. The cool thing is, I'm finally on my way.
All the best to you and I hope we chat again.
dns
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here is your 10 million baht answer
1) If the business is just you and your laptop at small income levels (under 100k a month) best option is to go under the rader
2) if your business gets bigger - incorporate in Hong Kong. Will cost you about 2k USD. HK incorporated companies that dont actually do businesses in HK are not liable for taxes
3) if your business is bigger and you have to hire thai employees, then have the HK company own the Thai company 49/51 and have the thai company just be paid its expenses for the employees salary, but all your billing and checks are going to the HK company.
4) if you are still worried about how to get your next visa....then you have a long way to go.
basically, besides the fact that you live here, you dont want the main $$$ cash aspects of your business running through thailand (just like all the wealthy thais) . do everything you can to stay legal, but avoid this.
Hi Shah,
Now we're getting somewhere. Thanks for the great reply. Khow jai, Khrap.
Ok, a few questions. Actually, more than a few.
Why HK? I understand perfectly about what you're saying, and I agree, don't get me wrong. But why not, say, Panama? (Same no taxes on offshore income, about the same price too) Or does it matter? Is it simply the proximity to Thailand? Is there a definite advantage to incorporating in HK I'm unaware of? Such as HK companies are more acceptable in Asia? I ask because I'm more familiar with the Panamanian business laws and have no clue about HK. I assume they would be modeled after British.
But that is exactly what I'm looking for...no taxes on offshore income, a minimum of BS, and excellent Internet banking.
I agree about wanting to keep the money in a offshore location, absolutely. My personal situation is I'm around the 200k range per month, and simply debit card my living expenses but I'm getting ready to ramp it up (as discussed before) The web sites I'm thinking about doing require me to be in Thailand and Asia for about another year or 2.
I understand your point about having your offshore business owning the 49% share, rather than an individual. Keeping the money offshore from the very beginning, and simply paying business expenses. Smart.
Yeah, that is exactly where I'm at. At the very beginning, Sick of visa runs, and want to set this up properly from the very beginning. "Been there, done that" as far as setting up companies and having them be completely useless within a year because they weren't set up properly to begin with.
Also, what is the cost of running a minimal business in Thailand tax wise? Meaning, what can I expect to pay over and above employee cost? The "total" cost of doing business here? Also, what can I expect time-wise?
(Your opinion) Would there be any advantage to having a HK corp. and an amity company 100% foreign owned (I'm from the US) together? I understand from others that Amity companies are under the microscope.
Thanks again, for the great reply.
dns
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I have an internet business in Thailand, run via a registered company with 24 staff (6 full time in the office). I admit, the main reason is to get my Visa and work permit. However, I view having help as a long term strategy... the profit I make from my established sites that I've built up over 7 years pays for staff and office costs. I don't expect to see a return on this investment for a year or two... but as you know, once sites are generating revenue... they keep going and going and going...
If you want to live here, further expanding your on-line business may be a worth while option. Yes, you say you don't need assistance now, but why stop at where you are at? The worst thing anyone can do with a successful business is loose momentum. If you are successful in a few niches, just apply the same strategy to others and expand your empire.
As for staying here under the radar... I think you need to check out the visa section of this site. As far as my understanding goes, tourists can only stay here for 90 days in a 180 day period.
I guess it all depends on how serious you are about living in Thailand... If you want the LOS as your home, you'll need to sort out a visa... makes sense employing some staff to help with your current business rather than helping someone else make more money (via employment)
Good luck
Hi Seobangkok,
Pleasure to meet you. Let me get this straight, you have a Thai limited company, then?
How do you handle all the legalities? Who do you use?
Right now, we've been here over a year on embassy issued tourist visas. I think you're right if it is a "visa on arrival" stamp on the airport. I have a wife and son, (Vietnamese) and visa runs are getting old.
24 staff, uh? Wow. Whatever on earth do they do? I've thought a lot about expanding in different areas. I've more ideas than time, that's for sure. I think I could maybe do 1 or 2 employees at this time. And I agree, you never want to stagnate. I'd have to put serious thought into "jobs" and a work-flow system designed to arrive at a desired end. How do you do it? As far as web design goes, that could easily be farmed out. Article marketing as well could be. (At least to a point) Research as well. My gut feeling is that you probably do all of your own SEO, but with software, that also could be delegated as well.
I've talked to some lawyers, and tried to explain my business, but I never got satisfactory answers from 3 that I've talked to. Who do you use? Either their eyes were glazing over and they were just giving me stock "one-size-fits-all" answers, or steering me towards the most expensive solution on general principle. I don't mind spending the money on a solution that works, but I don't want to waste it, and I want a lawyer who at the very least, understands my situation, instead of nodding their heads in perfect misunderstanding.
If I can't come up with a solution that works sometime soon, I guess I'll just leave and go somewhere the government isn't trying so hard to get rid of me. I understand the Philippines, looking to cash in on the mass exodus of falongs from Thailand has an 18 month tourist visa. Pity, because I've been coming here for 15 years.
dns
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I know quite a few of you have Internet businesses here in Thailand. Which business structure do you think is the best for an Internet business? It seems to me a LTD. Comp. might be best if you had a traditional business, but for an Internet business, it seems like overkill.
A LTD. Partnership, on the other hand, may offer more benefits.
Given the fact that 100% of our business takes place offshore, we need no physical location or Thai bank account, is having ANY business structure advantageous? Is it better just to keep a low profile and do visa runs?
Any opinions?
Thanks in advance,
dns
It all depend's on how legitimate you want to be. In the short term being "under the radar" is fine and "up-to-you". But long-term, there are benefits. Certain visa's require proof of income, proof of tax paid etc. You can't do this if you're not "legally" working.
RAZZ
Hi Guys,
I sell information products of different sorts. mostly alternative energy, and medical tourism info. I have no need for an office, (I work at my house) no employees, no business bank accounts, no inventory, licenses, tax, transportation of goods, or anything that defines a "brick and mortar" kind of business. I can do everything myself, and my overhead is very low. All my distribution is done via the Internet automatically. I can pretty much live wherever I want.
I most definitely want to be legitimate, legal, and in every way above board. But understand, I don't NEED any of those things to operate successfully. The only thing I need is a laptop and an Internet connection. Everything else is satisfying the whims of government masters.
Hence, my question. A Thai limited company with 4 employees, and 7 shareholders is "overkill" There is nothing for them to do and I would spend all my time coming up with make-work projects for the only purpose of having a visa and a work permit. I don't mind paying taxes, within reason, although I understand I'm getting very little, to nothing, for them, except the "privilege" of living here. If I wanted to avoid being legitimate, I can easily slip under the radar as a tourist. It's essentially, what I am. I'm not taking any jobs away from Thais, or anyone else. I'm doing nothing which is illegal, immoral, unethical or underhanded. I created my business from scratch, built it up steadily, over time, the same way every other business was built. I spent 10 years building it, and now I can relax a little.
That was why I was thinking a Limited Partnership may be the way to go. I don't mind having a Thai as a managing director, simply because there is nothing for them to manage. Everything is held in my name and it is held offshore. I'm not trying to be mysterious, it's just the way it is done. Lot of places have better Internet business laws than Thailand. (Which has none)
Does anyone else have any experience with Internet businesses in Thailand? Lots of people these days have Internet businesses in Thailand, and many foreigners, like me, choose to live here, with income coming from these sources. I was hoping someone who has "been there and done that" might be able to steer my in the right direction.
Thanks again for any help.
PS...the guy that makes 10 million baht a month with a few keystrokes...I want to meet him !!!!
dns
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I know quite a few of you have internet businesses here in Thailand. Which business structure do you think is the best for an internet business? It seems to me a LTD. Comp. might be best if you had a traditional business, but for an internet business, it seems like overkill.
A LTD. Partnership, on the other hand, may offer more benefits.
Given the fact that 100% of our business takes place offshore, we need no physical location or Thai bank account, is having ANY business structure advantageous? Is it better just to keep a low profile and do visa runs?
Any opinions?
Thanks in advance,
dns
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I am the owner of an Amity company and we have been in business for almost 20 years...If you have any ideas of doing anything that could be considered heo least bit "unkosher" take my advice and forget it... The overview given to Amity companies by the tax, customs and labor departments is incredible. We have been here for 20 years and have never had once instance of a problem, but we are still constantly checked...Our annual reports are thoroughly reviewed and questioned and the labor dept actually comes to our offices and checks on our Thai employees and also the work permits for our expats...
Like I said, never one problem in 20 years, but we feel like we are under a microscope.. So my advice is make sure you run a clean business...
Wow! Interesting. Do they ever give a reason for the scrutiny? But I agree, everything has to be 100% legal here.
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See, already we not trusting each other.
Doomed.
I do not know enough about the setup structures of Thai companies, but whatever way it is setup, your desire to set up parent and underling companies all controlled by different people as their own little companies, would/could no doubt be a risky option for all.
Wouldn't each underling company still need 5 employees and prove enough sales income to justify said work permit.
Not as I understand it. But I may be wrong. It was a question I specifically addressed to my lawyer. The Amity company gets around these requirements. The same as a Thai person in the US wouldn't need to employ 5 Americans to get a green card. The purpose of the Amity treaty is that each national is treated the same as a citizen of the home country for the purpose of business.
But all of these issues would have to be addressed, paperwork drawn up protecting each interest. Of course. if the owner no access to banking accounts and had 1% share in voting rights, no power to make decision regarding "ABC Limited Partnership" and the managing partner (of ABC LP) had 99%, I fail to see where the risk is. But I think sitting down with an attorney of your choice and letting them answer the questions (and not me) would be a good place to start.
I'm not advocating giving me all your money, wives, and children.
But, truthfully, if you had the slightest hesitation, it doesn't make for good business relationship anyway and not something you should do. If you're starting out thinking someone is going to screw you, then everything looks like a cheat, whether it is or not. I'd say, start your own Thai limited company and let 7 Thai's own 51%. You can certainly trust them never to screw you.
But you're missing the point. The only reason I'm looking for partners is not because I want any, or because I want to be Big Dog on Campus, it's because the Amity corp. is the most expensive to set up. (Around $5000 USD) It is to share the expense, cost of set up and on-going maintenance . I don't care who is the "Owner", it can be you. No problem to me. I'm offshore and into e-commerce, there's nothing of mine you could take. And truthfully, probably nothing of yours I want or need. I personally would say, the person with the most to lose, should be the managing director or "owner' on paper.
dns
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so you as the parent company owns all the little companies. promise to honour all your debts ?
cross your heart hope to die and on your mothers grave an all ?
Do you promise to honor all of your debts? On your mother's grave and all?
No, I wouldn't own all the little companies. It depends on the legal arrangement. For example, It could be a limited partnership, with one party the managing director, and the other a "silent" partner, or in another scenario, if it was a joint venture, a person and company can come together for the purpose of that business "task." That, of course, would be spelled out in any legal document.
It seems to me, (or at least from my perspective) it is me taking the risk. What if someone wants to come together then skip the country after racking up a number of bad debts? As the parent company, how do I limit the liability on MY part? It seems to me, that would be the likeliest possibility.
dns
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Hi gang,
I'm from the USA, involved in E-commerce, and biodiesel. I've been looking into the various options of opening a company in Thailand and I can't say I'm real enthused with giving over 51% of ownership. I don't have a Thai wife or relatives, so at the very least, this seems to me very risky.
I have been discussing with my lawyers (also an American) opening an Amity company, this would allow 100% foreign owned company with visa and WP.
What we were talking about was opening a "parent" Amity company, then having a number of "divisions" (i.e. partners) or separate companies underneath it. This would enable each to have a visa and work permit, and separate bank account, as well as being able to do business legally in Thailand.
What I'm looking for is partners willing to share the cost for start-up, and any expenses they incur with their own. You can be any nationality, but naturally, "business chemistry" will play a part.
Wanting to tap into the collective knowledge here on the forum board, does any one see any problems with this kind of arrangement? My lawyer tells me this is perfectly legal and do-able.
If interested you can email me from this board or leave a reply with a way of contacting you.
thanks
) I've read the same technique in books in setting up offshore companies, for doing business in repressive (Vietnam) countries. The point in doing so is to give the government as little control over your operations, especially the movement of money, as possible. It also the very same reason just about every major company in every 1st. world country, actually operates (i.e. incorporates) from an offshore location. It's the reason why companies incorporate in Delaware and Nevada in the US, (they are treated as "foreign entities") and Isle of Man in the UK. That a Thai company would use HK makes sense. Foreign money is always treated better.
Alternative Retirement Destinations For Expats (other Than Thailand)
in Vietnam General Chat
Posted
Lived in Vietnam for 2 years. Beaches are great. Nha Trang is very beautiful, nice people outside Saigon. Saigon is a world class armpit. With everyone trying to screw you...WAY worse than Thailand. (I have a Vietnamese wife, and even that didn't slow them down any.) Hanoi, the same. Most Expats can only do a few months there at a time before going postal on the locals. No kidding. they have a name for it even...."Saigon Rage." Vung Tau is really, Saigon with a beach if you ask me. Mue Ne, Phan Thiet are also nice. Government is also even more ineffective than Thailand. Makes Thailand look like a first world country. Police ineffective and corrupt. My opinion, anyway.