Hi,

 

I have decided on launching my new business in Thailand and I am seeking advice on getting set up as a business and being able to work and hire staff in BKK.

 

The business is a global online social project and we are just about at beta launch stage and looking for an international base. 

 

I have been travelling to Thailand for years on holiday, but understand that setting up a company and getting a work visa, being tax registered etc is a bit of a minefield.

 

What is the usual timescale & cost for getting up and running and would this be better done through an agent? 

 

Any help or guidance would be very much appreciated.

Use a good lawyer. It can actually be done pretty quickly if you have a Thai partner lined up, as well as the right lawyer. I have seen it done in four weeks. Initial setup is also not that expensive (hard to give a firm figure without more detail). However, be aware that you will need four Thai employees (at least on paper) and have regular tax and accounting requirements that must be satisfied which will ultimately be a more important cost. Further, understand that closing the company can actually be more trouble than opening it.

The company needs a minimum of 3 shareholders. Unless you are American, you can only own a maximum of 49 per cent of the shares. 51 per cent must be owned by Thai people.

 

There are ways to structure the company so that your 49 per cent has greater voting rights than their 51 per cent.

 

Ultimately, though, if your company becomes very successful you will only have 49 per cent to later sell on.

Thanks for the advice guys, it is very much appreciated. One of the reasons for starting the company is the need to employ people in Thailand. If my organisation is registered in another country, would i be able to work and recruit in Thailand through an international corporation?

47 minutes ago, scotsmarc said:

Thanks for the advice guys, it is very much appreciated. One of the reasons for starting the company is the need to employ people in Thailand. If my organisation is registered in another country, would i be able to work and recruit in Thailand through an international corporation?

In theory, you can have a representative office here (that does not require Thai shareholders). However, I know of two companies that tried to do this and had the application denied. You need to make a business case for the benefits that would accrue to Thailand from your local office. A good (and well connected) lawyer is essential if you want to pursue that route.

4 hours ago, scotsmarc said:

...would i be able to work and recruit in Thailand through an international corporation?

 

If you work in Thailand you need a work permit (apart from in the rarest of cases).

 

To get a work permit you need to be employed by a Thai company.

20 hours ago, scotsmarc said:

Thanks for the advice guys, it is very much appreciated. One of the reasons for starting the company is the need to employ people in Thailand. If my organisation is registered in another country, would i be able to work and recruit in Thailand through an international corporation?

you can try but i think you'd be wasting your time. my comments through experience

** just read your post again. absolutely not. you can't

Edited January 27, 20188 yr by Happy enough

Check out this guide on setting up a BOI company 

 

https://blog.outsmart.io/asia-startups/how-to-setup-a-startup-in-bangkok

 

If you business falls in one of the industries  required, you can set up a company with less restraints than normal. (can be 100 % foreigner owned, ratio of Thai foreign employees is less) 

Hi Millian, 

 

Thanks for your reply. I am meeting with BOI when i arrive in a couple of weeks to discuss in more detail. Seems my line of work may qualify.