work permit with own company

[nera123]

Hi All,

looking for information to obtain a work permit with his own company as a diving instructor in order to work as freelance.

No one really speaks openly about these costs, nevertheless I would like to know what will be the approximate financial investment to be made?

I received a proposal that seems to me not too expensive, nevertheless I heard that some of my colleague had to invest the double! ..and that's why I'm wondering and trying to find out through this!

Does anyone have an address for a lawyer who can handle this sort of thing in Phang Nga?

Could someone explain to me the procedure to follow?

Thank you by helping...

[RandolphGB]

A lawyer will do a work permit for an employee at an existing company for about 12k.

 

To open a company the initial paperwork for company registration, business visa and work permit could be around 100k. 

 

You'll need another 100k a month in revenue to cover the required x4 Thai staff and registered office.

 

And it can't be imaginary staff and imaginary revenue - you'll need tax receipts for monthly VAT payments, the annual audit and checks by immigration police. 

[timendres]

If it were me, I would not be talking to a lawyer initially. I would be talking to an accountant. One who handles a company that has foreign ownership. They will be much more informative.

[khunPer]

On 8/10/2022 at 7:21 AM, nera123 said:

Could someone explain to me the procedure to follow?

Thank you by helping...

You need a company limited - or partnership limited with for example wife, if you are married - with a minimum shareholder capital of 2 million baht, where 49% can be held by you, while 51% need to be held by Thai nationals, minimum 3 shareholders in total. Expect that the Thai nationals can be challenged to show proof of funds for their shares.

 

You need 4 Thai employees for one alien work permit, 2 employees if a limited partnership and only 1 million baht in company capital.

 

You need a salary of minimum 50.000 baht per month - can be little less from some non-Western countries - to be able to extend your stay based on work permit.

 

The company accountant or lawyer can assist you with the documentation need for work permit. If you are not married to a Thai you need to enter on a non-immigrant B-visa; if married to a Thai and with extension of stay based on marriage, you can get a work permit without using a B-visa, and there is no minimum salary requirements.

????

[OneMoreFarang]

On 8/10/2022 at 12:36 PM, RandolphGB said:

And it can't be imaginary staff and imaginary revenue - you'll need tax receipts for monthly VAT payments, the annual audit and checks by immigration police. 

Legally that is correct.

But in real life that can be very different. It depends a lot on the connection of the accountant, etc.

And situations and "qualifications" like that can't be easily compared and advertised.

[RandolphGB]

6 minutes ago, OneMoreFarang said:

Legally that is correct.

But in real life that can be very different. It depends a lot on the connection of the accountant, etc.

And situations and "qualifications" like that can't be easily compared and advertised.

All companies require an annual audit from a government approved auditor.

 

Most are honest and will check rigorously.

 

If they fix the books, they will want paying more. Then if the government’s revenue office spots something suspicious and audits the company, there’s no guarantee they will play the game. And if they do, they’ll want paying. As will immigration. 
 

Do stuff properly for peace of mind and security. It’s probably cheaper in the long run. 

 

[VocalNeal]

You don't have to show anyone actual money and if you are not worried about it the Thai share can be larger. I believe in some jurisdictions they don't look too closely. Whereas 51/49 shouts farang.

 

[ubonjoe]

A off topic post with only a video in it has been removed.

[OneMoreFarang]

37 minutes ago, RandolphGB said:

All companies require an annual audit from a government approved auditor.

 

Most are honest and will check rigorously.

 

If they fix the books, they will want paying more. Then if the government’s revenue office spots something suspicious and audits the company, there’s no guarantee they will play the game. And if they do, they’ll want paying. As will immigration. 
 

Do stuff properly for peace of mind and security. It’s probably cheaper in the long run. 

I just described what is happening all the time.

Obviously it's a good idea to follow all the laws all the time. But then, TiT.

[RandolphGB]

20 hours ago, VocalNeal said:

You don't have to show anyone actual money and if you are not worried about it the Thai share can be larger. I believe in some jurisdictions they don't look too closely. Whereas 51/49 shouts farang.

 

This is incorrect. An auditor will check bank statements. Monthly withholding tax and VAT submissions are also representative of turnover. If turnover is negative, it will affect a visa application.

[VocalNeal]

37 minutes ago, RandolphGB said:

This is incorrect.

You don't have to show a million baht to set up a company.

 

Yes your agent/accountant will prepare documents for subsequent extensions of visa/work permit. The company needs to show turnover.