What Types Of Business Can A Non-thai Own 100%?

[simon43]

Well, informed sources suggest to me that if I intend to apply for PR in the future, then I realistically need to be working and paying taxes for the previous 3 years.

I have no interest in working for another company. I would rather establish my own business. Additionally, I would also prefer to have a business that does not require a Thai parter(s).

I know that US citizens have some special privileges re company ownership. What are the options for UK citizens?

Would it be possible to set up some hi-tech business? I'm not talking about a major corporation But I worked for more than 15 years as a satellite/spacecraft consultant and then for 9 years as a mobile telecoms consultant, and would love to establish a similar 'high-profile' business in Thailand IF (and only IF), it could assist with my PR application.

Thanks for any advice!

Simon

[singa-traz]

Example: Software Company

Check here: http://www.boi.go.th

[Maestro]

...would love to establish a similar 'high-profile' business in Thailand IF (and only IF)

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--

Maestro

[samran]

dunno as a Brit,

but the Thai-Australian FTA offers the chance for Australian businesses - in certain sectors - to be majority owned.

Dunno if it would work, but maybe establish a company in OZ, and have a subsidiary in Thailand....

Might not work, but it might.

check out www.dfat.gov.au for further details on the provisions of the FTA

[simon43]

Er Maestro, that was an 'if' with a bit of emphasis.....

Simon

[Penkoprod]

What about an (online based) company that exports Thai goods to UK?

Wouldnt that be acceptable?

Penkoprod

[Maestro]

Er Maestro, that was an 'if' with a bit of emphasis.....

Looks like I hadn’t fully woken up yet when I read that. Embarassing!

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Maestro

[Maestro]

What about an (online based) company that exports Thai goods to UK?

Wouldnt that be acceptable?

With a view to applying for Permanent Residency (PR), Simon needs annual extensions based on employment. Setting up his own business and getting a work permit in order to qualify for annual extensions, I believe he needs to employ a minimum number of Thais (four?) and earn a certain minimum salary (65,000 Baht/month?)

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Maestro

[brianinbangkok]

What about an (online based) company that exports Thai goods to UK?

Wouldnt that be acceptable?

With a view to applying for Permanent Residency (PR), Simon needs annual extensions based on employment. Setting up his own business and getting a work permit in order to qualify for annual extensions, I believe he needs to employ a minimum number of Thais (four?) and earn a certain minimum salary (65,000 Baht/month?)

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Maestro

He actually needs the Thai tax form returns on that 65000 bath for his PR application.

It seems to me setting up a company just to give yourself the paperwork for a PR application is a risky investment.

Not to speak of all the headache this company could cause you !

Somewhere on Thaivisa I read they only will renew the workpermit if the company is actually making a profit.

[Maestro]

I tthought Simon actually owned a hotel here ?

Why not use this for a workpermit ?

Simon mentioned that in this other topic.

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Maestro

[brianinbangkok]

Thanks Maestro,

U seem to have read it before I deleted that line

[simon43]

Yes, I do own a hotel in Phuket 49/51% ltd partnership with my Thai wife.

I did originally want to get a WP as Manager, but there were some problems concerning the company aims etc. By the time my lawyer was ready to address these, my wife had become mentally ill and we had to leave Phuket. So, whilst we continue to own the business, neither of us are actively employed in that business.

From another thread in the visa section, I'm beginning to question my whole aim of getting PR based on employment. But that's another story and I'll start a thread in the appropriate section.

Simon

[thaihome]

The most common business in which foreigners can majority own is manufacturing for export. Hence the Toyota, Samsung, Seagate, etc, MNC's plus many smaller foreign owned companies doing business in Thailand without ownership worries.

Of course, your problem may be the capital outlay required to get such a company going.

TH

[Chang_paarp]

Simon

Ironically a company that operates a hotel can be 100% foreign owned.

Take care.

CP

[keestha]

Simon

Ironically a company that operates a hotel can be 100% foreign owned.

Take care.

CP

CP,

Could you give a source for that information? If it is possible at all, I don't think it applies for small individual hotels like Simon's place, unless maybe the operator is a US citizen who can use the Amity Treaty.

[thaihome]

I believe that "Hotel undertakings, except for hotel management services" is a list 3 business and therefore would require a license to operate the business. You must get approval by the Director General of the Department of Commercial Registration, Ministry of Commerce, by and with the approval of the Foreign Business Board. My understanding is the licenses are not granted easily, if at all, which is why most companies have opted for nominee route, which is what Simon appears to have done.

TH