Easiest way to register a Thai Business for BOI visa

[creative1000]

Sorry if this in the wrong forum. This is a requirement for the BOI Smart Visa. After receiving the visa, the individual MUST setup a registered Thai Business to extend the visa. There is no minimum capital requirements other than holding 600K Baht in local or foreign account for the individual to apply. 

What is the easiest way to setup a Thai business? How long does each way take? Estimated cost? Any downsides to each approach?

1. Thai friend sets up Thai Business and transfers to my name
2. I (american) setup a normal Thai Business (non-amity-treaty)

I've heard that #1 - Thai's don't need to show registered capital for their company, but #2 Farangs must show a substantial amount seasoned in a Thai bank account. #1 appears faster / cheaper?

 

Edited March 16, 2020 by creative1000

[jackdd]

Have you been through an incubator program or has your business plan been approved by the Thai government?

I assume that if you previously indicated that YOU will setup a business, then you will have to set it up in your name and can't just do it in another person's name.

[creative1000]

yes 100% complete & approved. already have the smart visa stamped in passport actually, but they only give 6-months at first, then upto 2 years after the company is registered.

One BOI officer I spoke to said they didn't care when or who registered the company or how it originated, as long as the BOI applicant (me) met the requirements "Holding no less than 25% of the company’s registered capital or a position of a director of the above mentioned company."