Thaico set up thread - all routes

[Rc2702]

I'm still not 100% sure I know all and everything I need to know about setting up a business in Thailand.

 

I've read various threads and to my knowledge there seems to be 2 main routes for setting 1 up.

 

Conventional method

4 Thai employees

2m baht capital

(From what I've read you don't need 2m baht capital but you pay a small amount per million as some sort of excess fee or something) if anyone wants to correct the above and others AGREE I will update the thread in the end and provide a very clear understanding of these routes to setting up a business.

 

The above business model can only be 49% farang owned.

 

The above business model entitles the farang to a WP but does the farang have to draw a minimum salary and if so what is the figure?

 

Could farang salary be used to pay him and say his wife and wife foregoe salary/tax contributions?

 

Next model. 

 

Husband and wife business.

No idea about employee requirements

Requirements may be subject to change per province

No idea on capital requirements

No idea on WP status

No idea on minimum salary

Pretty sure it's 49% farang own max shares.

 

This subject has been difficult to follow and recently I see very little info on upstarts wanting info.

 

Once I have feedback I will create a requirement list for both models based on good feedback & cross verification. Hopefully it will make things clearer for myself and others.

 

Would really appreciate sound input on this.

 

 

 

[blackcab]

On 2/14/2019 at 2:41 AM, Rc2702 said:

...but does the farang have to draw a minimum salary and if so what is the figure?

 

There is no minimum salary required to get a work permit. However if you want a 1 year extension of stay on the basis of working in Thailand then immigration want to see social fund contributions and income tax paid on a minimum salary of 50k a month (less for nationals of some developing countries).

 

On 2/14/2019 at 2:41 AM, Rc2702 said:

Could farang salary be used to pay him and say his wife and wife foregoe salary/tax contributions?

 

You can do what you want with your salary. If you want to give it to your wife then so be it. Any company employee is entitled to receive minimum wage, however if your Thai wife wants to volunteer her time in return for workplace training, or upskilling, etc. then that is up to her.

 

Consider the income tax exempt amount however. Your wife can receive some money each month and pay no tax at all. Social Fund will be payable if she is an employee, but not if she is a company director. For the small sums involved it's quite good to pay in as it will give her options in the future.

 

I can't answer regarding your second proposal. I don't know anyone who had ever done it. Bare in mind the Department of Labour will have one set of requirements for your work permit, while immigration will have a different set of requirements for your one year extension of stay.