ThaiAdventure Posted May 16, 2003 Share Posted May 16, 2003 At last I have found a governent definition of costs for business formation.....from the Dept. Of Business Development. Charges for scrutinizing, certifying and transcribing documents. http://thairegistration.com/eng/certify_doc.phtml?head=142 Now I know who to see to get the forms, and what it will be cost AND it looks like I can get it all on floppy disk as well Link to comment Share on other sites More sharing options...
george Posted May 16, 2003 Share Posted May 16, 2003 Thaiadventure, Good find. This website has been on for a while BTW. I think you are able to to some paperwork by yourself, in order to from your company, but you will end up in distaster when it come s to VAT registration etc etc.. My advise is that you leave all this to your accountant or someone who can read and write Thai language.... You will *NOT* be able to do this by yourself, dear Thaiadventure. Link to comment Share on other sites More sharing options...
ThaiAdventure Posted May 16, 2003 Author Share Posted May 16, 2003 Maybe not. But the cost is now down significantly from my original quotes. Link to comment Share on other sites More sharing options...
ThaiAdventure Posted May 16, 2003 Author Share Posted May 16, 2003 Thaiadventure,Good find. This website has been on for a while BTW. I think you are able to to some paperwork by yourself, in order to from your company, but you will end up in distaster when it come s to VAT registration etc etc.. My advise is that you leave all this to your accountant or someone who can read and write Thai language.... You will *NOT* be able to do this by yourself, dear Thaiadventure. I am little disapointed that you did not give me the link if you knew of it's existence. I do thank you for your link but there was no legality (Estimate). I have a lot to learn for this move, I have many decisions to make personally and financially. Once I find the equivelent mechanisms (and the differences) then things will be a lot easier. Now I know the questions (and some of the answers) to ask when I am in thailand. I believe you Americans call it "Preparing the battlefield" :laugh: Link to comment Share on other sites More sharing options...
george Posted May 16, 2003 Share Posted May 16, 2003 You might fix the company setup, but you will miss on the VAT registration. And you will definitevly fail on the Work Permit application and the one-year visa application, because you will miss some important details in your company setup. You will then need to pay the government fees over and over again. But that will show up in your schedule later. Don't blame us here, hehe! We have warned you. I would say it's a stupid idea to do a company registration by yourself. Instead use the accoutant firm that you are planning to use anyway. They can help you plan ahead. If you choose an accountant or laywer who have knowledge about the ups and downs at the Labour Department and Immigration, you are a winner. Otherwise you will loose, have to start from square one again, and have to pay triple of what you have budgeted. In parsa Thai we just say "somnam naa". Mai mee bpan haa! Link to comment Share on other sites More sharing options...
ThaiAdventure Posted May 16, 2003 Author Share Posted May 16, 2003 Ho George George Wrote: If you choose an accountant or laywer who have knowledge about the ups and downs at the Labour Department and Immigration, you are a winner. I do not know which Lawyers/accountants know the intracacies of the Labour dept,etc. It seems they all do. My only identification method is on competitiveness and to judge this I need to know the base cost of at least one of the services! But I am labouring the point. I now have this info and my attention is turning to both UK AND Thai tax filing for the operational aspects. I will resolve formation in person. Link to comment Share on other sites More sharing options...
michaelr Posted May 16, 2003 Share Posted May 16, 2003 I do not know which Lawyers/accountants know the intracacies of the Labour dept,etc. It seems they all do. My only identification method is on competitiveness and to judge this I need to know the base cost of at least one of the services! You must have a laywer for this, otherwise yoiur are f*cked! Have a look here for the best in the game: http://directory.google.com/Top....ervices Link to comment Share on other sites More sharing options...
ThaiAdventure Posted May 16, 2003 Author Share Posted May 16, 2003 George Wrote: You might fix the company setup, but you will miss on the VAT registration. This again may be true. But I only have to register for VAT within 30 days AFTER I achieve THB 600,000. By then I will have recruited an accountant who will take care of it! That is of course according to The Ministry Of Foreign Affairs at: http://www.mfa.go.th/internet/document/h_sec5fin.pdf I guess that will really "serve me right"! Link to comment Share on other sites More sharing options...
Sunbelt Posted May 17, 2003 Share Posted May 17, 2003 This again may be true. But I only have to register for VAT within 30 days AFTER I achieve THB 600,000. By then I will have recruited an accountant who will take care of it!That is of course according to The Ministry Of Foreign Affairs In order to get a work permit, you must file for the VAT first. You also must file for the work permit within 90 days of company registration if you're the managing director or you'll need to start all over again [/b] Link to comment Share on other sites More sharing options...
ThaiAdventure Posted May 17, 2003 Author Share Posted May 17, 2003 Good. That means that the work permit comes out of operational costs instead of initial investment. Everything really hinges on BOI then since it seems that if BOI approval is not granted then the Tax incentives are not good enough (I actually pay more tax than in the UK). If approval is granted, then the tax is good and work permits are not a problem. With the BOI registration process in place I am able to administer my accounts. Still havn't resolved the 100% ownership in the first 2-3 months though and unless that is resolved I think I will start the comapny in the UK. It is easier, cheaper and I will be the captian of my own destiny. Link to comment Share on other sites More sharing options...
mrvietnam2001 Posted May 19, 2003 Share Posted May 19, 2003 Thai Adventurer, First ya gotta move. Then hire a lawyer and follow directions. Remember TITS Dung nghi rang anh la nguoi biet tat ca ! Then learn how to ask Link to comment Share on other sites More sharing options...
ThaiAdventure Posted May 19, 2003 Author Share Posted May 19, 2003 Thats the problem. I'm not moving. I want to hire a lawyer....but who. I am asking. Link to comment Share on other sites More sharing options...
dr_Pat_Pong Posted May 20, 2003 Share Posted May 20, 2003 Ya can't help some people. Another Thai expression here ...KHON KEENIO...or even KHON BAH ??? Link to comment Share on other sites More sharing options...
TRIPxCORE Posted May 20, 2003 Share Posted May 20, 2003 An all purpose solution is find a Thai citizen to marry and put business in their name and you can avoid a lot of this red tape reserved for farang's. (Joke) Hehehheheheheheh Link to comment Share on other sites More sharing options...
mrvietnam2001 Posted May 20, 2003 Share Posted May 20, 2003 [email protected] Khun Ittipong Just explain, listen, transfer a deposit and follow directions. :blues: Link to comment Share on other sites More sharing options...
keestha Posted May 22, 2003 Share Posted May 22, 2003 Being able to speak and read Thai, I found it relatively easy to go through the procedure of applying for a work permit myself. The bookkeeper just had to help me out with a few minor things. It is a matter of going to the labour department and inquiring what documents they require, and then work your way through the red tape. One year visa I once arranged myself likewise. Fact is that lawyers or middlemen offering legal services take a lot of money from foreigners, capitalizing on the fact that they do not master Thai language. The real costs of obtaining a work permit or a one year visa are just a few hundred Bath legal fees. I should mention though that my company is only doing business on a small scale, maybe if things like BOI approval come into the game, different rules apply. Also it might make a difference where in Thailand you want to do business, I am based in a small upcountry province. Link to comment Share on other sites More sharing options...
ThaiAdventure Posted May 22, 2003 Author Share Posted May 22, 2003 I've come to pretty much the same conclusion. My scepticism was first aroused when looking at imm-b visa's-and that I can do myself (200% mark-up through professional agencies). My downfall, however is that I do not speak or read Thai so I have to rely on someone that can. I was hoping that the lawyers and accountants would not take advantage as they are professionals. I could not have been more wrong. But I now have the base costs from offical Thai governmental sites. That at least means that I can haggle. After all there are a lot of lawyers and accountants in BKK and whoever I chose has to show that they are different from the rest. Link to comment Share on other sites More sharing options...
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