Minimum Requirement and Expense to Open a Company

[onera1961]

I have a US state registered sole-proprietorship company in the US that runs three Website with a combined approximate profit of $2KUSD/month. Can I put the three websites as my intellectual property for registered capital? The websites are complex software that uses Amazon AWS EC2, RDS, Lambda, SNS, SMS, S3, and Redis. Worth of Web lists the combined value of the three websites as approximately 200K USD. Can I use it as intellectual property to register them in Thailand? How can I open a company? How much does it cost? How much is reasonable for a lawyer to charge? Do I need a Thai partner? Can I employ myself as a Director/President or any other role of the company? 

Edited July 26, 2019 by onera1961

[ubonjoe]

The 2 million baht registered capital needed to apply for a work permit is just a number used to register the company. There is no requirement to prove it until you apply for an extension stay based upon working at immigration.

You can register the company without a Thai partner under the amity treaty since it is a US company.

As the owner of company you can get a work permit and an extension of stay.

You will still need 4 Thai employees to get a work permit and extension of stay.

The cost for everything depends upon what you pay a lawyer to get it all set up unless you attempt to do it yourself.

The company registration fee and a work permit are only a small part of what it will cost.

 

[LivinLOS]

If your just looking for legality, using the umbrella system will be cheaper for a sole operator imo. 

 

However if you intend to grow and engage staff, have an office, etc those costs are part of the own company route.

[jessebkk1]

with 2k US a month you can't afford to own and maintain a company here, they require that you have 4 thai employees and pay their monthly insurance and tax, they now randomly check to make sure that these people are really your staff, and if not, your visa will be cancelled. They also will not re-issue you the yearly visa if you miss the insurance/tax payment for 1 staff by even just a month.

 

  After setting up the company, you will be given a 90day visa, but for you to get a 1 year stay the immigration now checks to see if your company moved the 2 million Baht into thailand for business, if they don't find such, the visa would not be issued.

[onera1961]

7 minutes ago, jessebkk1 said:

After setting up the company, you will be given a 90day visa, but for you to get a 1 year stay the immigration now checks to see if your company moved the 2 million Baht into thailand for business, if they don't find such, the visa would not be issued.

Thanks. It looks like more hassle than any benefits for me. I will keep on spending my passive income till I start getting my SS in 6 year. 

[Caldera]

I think if you went on Shark Tank, you'd find it very hard to justify your valuation considering your monthly profit and nature of your business. Not sure about Thailand though.

[onera1961]

8 hours ago, Caldera said:

I think if you went on Shark Tank, you'd find it very hard to justify your valuation considering your monthly profit and nature of your business. Not sure about Thailand though.

I know "worth of Web" is inflated. but on flipper once I listed the main site that generates 80% of my profit and someone was ready to buy for 50K USD (two years worth of profits). Profits may be enhanced by targeted ad campaigns. I am just lazy and and no motivation as I have other incomes from investments that is sufficient for me now. Also, getting close to 60 and just want to enjoy what I have now. In Thailand how do they evaluate worth of IP (intellectual property) for company  capitalization? 

[James26]

 

I'm not sure I see where you have any unique IP. Everything you stated is a third party product (tools). What did you develop that you consider to be unique IP? There are many different models for estimating the value of IP.

[onera1961]

12 hours ago, James26 said:

I'm not sure I see where you have any unique IP. Everything you stated is a third party product (tools). What did you develop that you consider to be unique IP? There are many different models for estimating the value of IP.

What was the unique IP when facebook started (pre IPO)? It is all third party product, PHP, MySQL, MemCache, Casandra, etc. Yes now they thousands of patents. It is not the tools but how you put the tools and their integration to provide a solution that  creates unique IP. People have already offered 50K USD for the software and they can run in any server they want. The value of the IP is usually considered to be equal to the amount that a purchaser would pay for that asset at a market price. I am 100% sure I can get 300K USD business loan from BlueVine or companies like that for investing on my business for revenue enhancements. I already have 50K USD approved line of credit for my business from Citi bank and 50K from CapitalOne

Edited July 27, 2019 by onera1961