Should I go ahead with a company registration?

[Gamabait]

Hi, I am just looking for peoples opinions here. I am now married to a Thai woman and hope to get my non-immigrant O visa next month. I have not yet figured out how I'll best get a work permit to do what I want to do. It would be great if I could work in Thailand but I am pretty sure that is impossible without risking a lot of money (over 1m baht, due to capital registration).

 

I work as a web developer and I have had the same client for the last 5 years that I have been charging them 130 000 baht + taxes every full month (160 hours). I don't really have many expenses as I rarely need to buy anything for my business.

 

I have been talking to someone that would help me register a company and apply for a work permit, costing almost 50 000 baht, and which has the following requirements:

 

- Should be a 51% Thai Limited Company

- Pay 1m baht as registered capital

- Have 2 Thai employees (min 9800 baht salary each)

- Be able to pay myself at least 50 000 baht salary per month

- Rent an office (14 000 baht per month)

- Pay social security for both employees, which is 10% of their salary (980 baht each)

- That I have someone legitimate to do the accounting (estimating 5000 baht per month)

 

Would any of you go for it with an income as low as mine or does it all look like quite the risky business? I know that as a freelance worker it can be an unstable income if I end up not being needed anymore by my current client and that I might not be able to pay myself that salary every month and that is my biggest worry.

 

Thank you

????

[BestB]

If you married, I would open company in wife’s name and you as an employee. Easier for WP and for General company running 

 

PS. You do not need to pay any registered capital , it’s only on the paper and for WP in your name I believe minimum 2 million baht company not 1

[onekoolguy]

What Nationality are you?

If USA you can have a sole ownership company without many of the requirements.

[DrJack54]

You work online so why do anything. Just keep working. As for the Thai wife get a non o multi and have a break from los and Mrs every 3 months. I'm almost jealous.

[overherebc]

1 hour ago, onekoolguy said:

What Nationality are you?

If USA you can have a sole ownership company without many of the requirements.

If you are talking about 'Amity treaty' it's not as easy as you think.

You don't just turn up and say I'm American this is my company name, give me a WP.

You are still affected by the restricted jobs list etc and labour laws.

If you have a large company in the USA you might be able to open a branch in Thailand but costs for lawyers etc will still be very high.

[elviajero]

3 hours ago, onekoolguy said:

What Nationality are you?

If USA you can have a sole ownership company without many of the requirements.

Only for certain businesses. What the OP describes wouldn’t qualify.

[elviajero]

4 hours ago, Gamabait said:

Would any of you go for it with an income as low as mine or does it all look like quite the risky business?

No I wouldn’t, and you shouldn’t.

 

There is no need for your type of work. Just do it at home, and never declare what you’re doing to anyone. That said, even if immigration were aware of what you’re doing it’s unlikely they would take any action.

[BritTim]

11 minutes ago, elviajero said:

No I wouldn’t, and you shouldn’t.

 

There is no need for your type of work. Just do it at home, and never declare what you’re doing to anyone. That said, even if immigration were aware of what you’re doing it’s unlikely they would take any action.

I agree with this. I would add that you should continue to be paid into a bank account outside Thailand, and transfer over what you need. This makes it difficult for the Thai authorities to come after you for tax.

[Gamabait]

Thanks for all the replies. I am pretty sure the guy told me that the 1m baht capital has to be payed up. I might have gotten it wrong or that means something else for him. It seems much easier if I don't need 1m baht though ???? I will start with looking at having my wife start a company as a PR might be of interest in 3 years or so.

 

Thank you very much guys.

[elviajero]

53 minutes ago, Gamabait said:

I am pretty sure the guy told me that the 1m baht capital has to be payed up.

It doesn’t all have to be cash. Speak to an accountant.