Setting up a limited company

[FriendlyFarang]

Going to set up a new limited company.

Majority shareholder will be Thai.

One foreigner in the company, requiring work permit.

 

I'm looking for a company which will handle setting up the company, getting the work permit, and will do accounting (it's a real company, actively working).

Do you have any recommendations for me? I'm also interested in the costs, so about how much did or do you pay for those things (registering company, work permit, accounting)?

 

It's not important if they can speak English, the most important factor is if they do the job properly.

Edited October 16, 2022 by FriendlyFarang

[Kwasaki]

The only one that's worthwhile from what I was told once is applying for a 7-11 franchise.

 

It was 2,000,000 lay out and they reckon you will get money back and make a living in 2 years. 

[FriendlyFarang]

11 hours ago, Kwasaki said:

The only one that's worthwhile from what I was told once is applying for a 7-11 franchise.

 

It was 2,000,000 lay out and they reckon you will get money back and make a living in 2 years. 

I'm looking for an accounting/law firm that will handle setting up the company, do accounting etc.

[FritsSikkink]

6 hours ago, cregwillis said:

Anyone actually used the accounting services from other countries?How does normally works? I found some reliable accounting service in Estonia here but not sure what kind of difficulties to expect. Anyone would like to share the experience?

Can they read letters of the Thai tax office which are in Thai? do they know the Thai tax laws?

[FritsSikkink]

On 10/17/2022 at 10:28 AM, Kwasaki said:

The only one that's worthwhile from what I was told once is applying for a 7-11 franchise.

 

It was 2,000,000 lay out and they reckon you will get money back and make a living in 2 years. 

Nonsense

[Kwasaki]

45 minutes ago, FritsSikkink said:

Nonsense

Maybe !!  it was what an American guy told me who was looking into investing with his girlfriend into getting a 7-11 franchise back in 2012.

 

[Jenkins9039]

On 10/17/2022 at 12:59 AM, FriendlyFarang said:

Going to set up a new limited company.

Seriously easier to transfer, wife has a 2m paid up cap company dormant since covid, if you want to buy.

[FritsSikkink]

On 11/2/2022 at 9:42 PM, Jenkins9039 said:

Seriously easier to transfer, wife has a 2m paid up cap company dormant since covid, if you want to buy.

Easy to transfer but need to know if there are any liabilities like tax, loans, ...

[FriendlyFarang]

In case anybody else is interested in this:

The going rate for setting up a limited company is round about 10k baht including government fees. in case the registered capital is only 100k baht. (I've seen offers as low as 5k though, but I guess this doesn't include the government fees etc. then)

There is a government fee in the amount of 0.55% of the registered capital, so in case of 2 million baht (required for a work permit) instead of the 100k minimum, this adds 10450 baht.

The company that I'm using now says they charge 3k per month for basic accounting stuff, submitting monthly tax reports etc, if it aren't took many bookings.

 

If you contact one of the companies focusing on foreigners, they charge about 30-100k baht on top of this.

[Celsius]

On 10/19/2022 at 12:35 PM, Kwasaki said:

Maybe !!  it was what an American guy told me who was looking into investing with his girlfriend into getting a 7-11 franchise back in 2012.

 

 

Speak to my wife if you or anyone is serious about this as she still has connections at CP.

 

She used to work as a location scout and franchiser for 7/11 in Bangkok area.

 

The 2 year break even number is nonsense. There are (or they were) 3 types of 7/11 investments; type A B and C depending on how much money are you willing to risk. Most of that money goes as a deposit towards your store and the rest would be the actual investment. Your take home salary on a 2 million baht investment would probably be around 30-40k a month.... if you are lucky.

 

Still.... a better investment than a bar.

 

This is a short version.