Minimum Capital For Company - 2m Baht?

[puck]

i see that to get a non immigration B visa you need 2 million baht registred capital. not for the initial but to extend it past 2 months. can you do it too if you get a B visa, register your company here and say only have 1 million baht in registred capital? anyone have ideas about this?

[s_kates81]

For a company to hire a foreigner,the registered and paid up capital must not be lesser than 2 M Baht.

[s_kates81]

initial captial can be whatever amount.But in order to hire a foreigner,at the time of hiring,the capital must not be lesser than 2M.So If u want to register a company in order to employ yourself,U just register it 2M Baht Capital.Coz if later you wanna make amendments ,you will have to pay the amendment fee.But if u have registered the company already and the capital is lesser than 2M ,then u need to do the correction.

[puck]

what i want to do, is form a company here with about 1M baht capital. i do have the capital of 2M baht, but i dont wish to bring it into Thailand just yet. so if i only employ myself (founder) and the rest as thai employees, i can do it with 1M or another amount of capital? or do i myself count as a hired foreigner already and i need the 2M baht minimum? confusing

[jayrockwell]

Puck,

When you form a 2 Million Baht company you are only required to pay-up 25% initially, you need to give proof to the company registration office within X number of days (I forget how long, I think 90 days) that the money has been paid in.

500,000 Baht.

J

[manfromoz]

Puck,

for you to get a work permit the compnay need sto be registered as at least Bt2m. Proving you have it is a tax issue not a work issue. So if you planning on working you need to register the company as Bt2m capital, then when you do your balance sheet (next march) you need to show that you have the capital. Don't think that capital is just cash, it can be made up of assets also.

As long as you can show the amount as Company controlled and you are paying taxes for at least minimum wage for you and your thai employees as well as VAT and social security, then you can run your business. Note that there are 3 monthly tax forms that need to be submitted to the tax department if you are a SME, the rules change as you get bigger.

Sunbelt Asia are probably the best to contact about all the regulations.

[Sunbelt Asia]

If you are a director and want a work permit, the minimum registered capital is 2 million Baht. It is not checked, if it is paid up.... (25% should be by Thai law after 90 days. By the end of the year you have time for the remainder which can be assets.)

If you are NOT a director and are being employed. Their is no minimum registered capital required to get a work permit for you. If it’s a brand new corporation, it should however be enough to satisfy the officer that this company has enough funds to be able to pay you, so you can pay the minimum 18,000 Baht tax per year. A one million Baht registered company has been ok in these cases.

Our legal staff will be glad to help.

www.sunbeltasia.com

[jayrockwell]

Sunbelt,

I was always under the impression that 2M Baht capital was required per foreign employee regardless of whether they are a director or not?

Has this changed recently or did I just misunderstand?

Thanks

J

[Sunbelt Asia]

I was always under the impression that 2M Baht capital was required per foreign employee regardless of whether they are a director or not?

Was changed in May 2002

www.sunbeltasia.com

[jayrockwell]

Sunbelt,

Thanks for putting me straight.

J