How To Contract In Thialand

[speedyr6]

Hi,

I'm currently IT contracting in UK via an umbrella company but will potentially be starting a new contract in bangkok very soon and have the following questions (I know they are not all related to this thread so any pointers to where i can find info would be great!)

1) How does someone set themselves up as contractor for thai working, ie do i need to create a thai company etc?

2) Does anyone know of any umbrella companies who help UK contractors working abroad?

3) Under which company would i get the work permit from? myself, umbrella or actually where i'd work?

Thanks

ron

[LivinLOS]

What your attempting to do becomes expensive fast.. I think this is how it all breaks down but not done it myself.

To fully qualify to stay here and not visa run you need both a visa and a work permit.. The visa extension incountry will require (as I understand it) 4 Thai employees fully taxes paid, min salary paid to you of about 55k per month, etc etc.

To form a company to get it you can only own 49%, you then need sleeping partners for the 51%.. It needs to be a 2 million baht paid up capital company.

It gets easier if your prepared to visa run, then you could have a non B and get a work permit without the additional staff that you may not need. I am unsure of the exact requirements for the issueing of the work permit and it may even be different interpretations in different regions. I hear that having staff is not essential to get the work permit but it is to extend the visa incountry (as opposed to having a multi entry visa and visa running). of course if visa running, budget on returning to the west every 15 months to get a new 1 year non imm B or going outside Thailand locally in asia every 3 months to get a 90 day single entry.

Thailand really isnt so well set up for one man contracting companies.. Its sort of assumed your working 'for' someone here. Americans have a slightly better deal with the Amity company rules.

Edited February 18, 2008 by LivinLOS

[kiakaha]

Hi,

I'm currently IT contracting in UK via an umbrella company but will potentially be starting a new contract in bangkok very soon and have the following questions (I know they are not all related to this thread so any pointers to where i can find info would be great!)

1) How does someone set themselves up as contractor for thai working, ie do i need to create a thai company etc?

2) Does anyone know of any umbrella companies who help UK contractors working abroad?

3) Under which company would i get the work permit from? myself, umbrella or actually where i'd work?

Thanks

ron

1 man route (the fully legal way) :

You'll need to enter Thailand on a Non Immigrant B Visa, sponsored by company you are working for.You'll initially get a 90 day permit of stay stamp.

Then you'll need to get a work permit.Then you'll get a tax id so you can pay PIT(personal income tax) in Thailand.

Your permit of stay can then be extended (subject to meeting minimum salary requirements ,thai to foreigner ratio in company etc..) on the basis of your work permit duration ie: 1 year extensions. You can get a re-entry permit in your passport to allow you to come and go from Thailand and not lose your current 1 year extension.

1 man route (the illegal way) :

set up a tax sheltered company in Hong Kong.

perform work in thailand and do visas runs.

fly under radar and dont get caught.

i dont recommend this option, but thought I'd mention it all the same.

Company route:

LivinLOS said it best.

[speedyr6]

Thanks for the advice

I've been offered the role as a 12 month fixed term permanent deal which means all visa/permits are dealt with by employer. Money is less and taxable at thai rates but at least its legal

Now i just need to work out the best way to control my finances i have left here in the UK!

[kiakaha]

Thanks for the advice

I've been offered the role as a 12 month fixed term permanent deal which means all visa/permits are dealt with by employer.

Cool.If the employer is a "blue chip" then thats great. Otherwise, in the IT industry, be wary of the cowboys and firms who dangle carrots, talk the talk but dont walk the walk.They are rife here.And I'm speaking from solid first hand experience.

Thanks for the advice

Now i just need to work out the best way to control my finances i have left here in the UK!

Sell pounds, buy New Zealand Dollars, invest cash at 9% with only 2% tax in a NZL bank (but I am biased, being a Kiwi )

[haybilly]

Thanks for the advice

I've been offered the role as a 12 month fixed term permanent deal which means all visa/permits are dealt with by employer.

Cool.If the employer is a "blue chip" then thats great. Otherwise, in the IT industry, be wary of the cowboys and firms who dangle carrots, talk the talk but dont walk the walk.They are rife here.And I'm speaking from solid first hand experience.

Thanks for the advice

Now i just need to work out the best way to control my finances i have left here in the UK!

Sell pounds, buy New Zealand Dollars, invest cash at 9% with only 2% tax in a NZL bank (but I am biased, being a Kiwi )

Is what you are suggesting possible without travelling to NZ--I mean the setting up of NZ Bank account and so on--I know that, if I wanted to do the same with a UK bank account I would need a UK postal address and they also want payment by cheque when opening the account--at least the one I was looking into most recently did--there may be some which don't but I am not aware of them, if so?

[cocopops]

Thanks for the advice

I've been offered the role as a 12 month fixed term permanent deal which means all visa/permits are dealt with by employer.

Cool.If the employer is a "blue chip" then thats great. Otherwise, in the IT industry, be wary of the cowboys and firms who dangle carrots, talk the talk but dont walk the walk.They are rife here.And I'm speaking from solid first hand experience.

Thanks for the advice

Now i just need to work out the best way to control my finances i have left here in the UK!

Sell pounds, buy New Zealand Dollars, invest cash at 9% with only 2% tax in a NZL bank (but I am biased, being a Kiwi )

Is what you are suggesting possible without travelling to NZ--I mean the setting up of NZ Bank account and so on--I know that, if I wanted to do the same with a UK bank account I would need a UK postal address and they also want payment by cheque when opening the account--at least the one I was looking into most recently did--there may be some which don't but I am not aware of them, if so?

Risky fun!

One school of thought says that the Aussie (and by extension

the NZD) is more expensive than it should be already. And,

because of people doing what you propose with a lot of borrowed

money ("carry-trades"), it has the potential to drop fast at

any point.

On the other hand, many folks are confident GBP will drop this

year and there is every chance NZD will stay high...

[PattayaParent]

1) How does someone set themselves up as contractor for thai working, ie do i need to create a thai company etc?

2) Does anyone know of any umbrella companies who help UK contractors working abroad?

3) Under which company would i get the work permit from? myself, umbrella or actually where i'd work?

Can you use your existing umbrella company?

But why use an umbrella company at all, let your employer take care of the work permits and government requirements.

know that, if I wanted to do the same with a UK bank account I would need a UK postal address and they also want payment by cheque when opening the account--at least the one I was looking into most recently did

Then you're looking at the wrong accounts, look at Offfshore Accounts which are tax free and require proof of addresss of where you live.

[kiakaha]

1) How does someone set themselves up as contractor for thai working, ie do i need to create a thai company etc?

2) Does anyone know of any umbrella companies who help UK contractors working abroad?

3) Under which company would i get the work permit from? myself, umbrella or actually where i'd work?

Can you use your existing umbrella company?

But why use an umbrella company at all, let your employer take care of the work permits and government requirements.

know that, if I wanted to do the same with a UK bank account I would need a UK postal address and they also want payment by cheque when opening the account--at least the one I was looking into most recently did

Then you're looking at the wrong accounts, look at Offfshore Accounts which are tax free and require proof of addresss of where you live.

technically the interest on the NZL deposit is tax free. The 2 % is a "levy", not tax, that you can qualify for as an overseas lender and avert the 10% Non Resident Withholding tax.

i was being a bit toungue and cheek.

the interest rates are nice, but not very inflation proof, NZL dollar is overvalued etc...

diversify. I like commodities at present ie: metals. platinum is good.