Registering A Company (and The Lawyers)

[Janissary]

I've been quoted 60,000THB +++ for a setup of the company (all inclusive.. they provide the thai person holding 51%), the 7 person etc. is there any other more affordable ones out there?

[joskydive]

It all depends on what sort of Company you want. e.g.

For a 1 million Baht Company it should cost you about 30,000baht. A 1 million baht company does not allow you to have a Work Permit.

For a 2 million Baht Company it should cost you about 35,000baht. A 2 million baht company does allow you to have a Work Permit.

[eljeque]

My accountant charges the same prices.

Do not go to a lawyer. he will simply give the work to an acountant and then charge you a fee for the service.

PM me if you would like an accountant in pattaya whom I have used fo 18 years

[Briggsy]

Or you could do as my idiot friend did.

Ask the guy who owns the restaurant and building firm in the soi to help. Sure, he says. He asks his fixer mate. He gets his lawyer mate. She gets her accountant mate. Everyone gets a cut.

For a shell company, he was paying about 120,000 Baht a year to run the thing. Accountant fees, Lawyer's Fees, Ghost employees, VAT, WP fees, etc.

[Janissary]

Yeah, the term is shell-company (although there is going to be some business activities, and I'll do online payments for my business)... The 60,000THB package includes the work-permit, the thai person who holds the 51% but one/ zero votes, the 7 person etc.

Would like to know how to get it done with 35,000thb (and my thai friend get her company done with only 10,000thb).

[gregb]

OR....

You ask your girlfriend and go find your own 7 Thai shareholders. Then you go down to the government office (I think on Srinakarin somewhere) with a moderately intelligent Thai speaking assistant, and do the whole thing yourself. They are very helpful.

In that case, you pay almost nothing except for the tax on registered capitol (I think half a percent, so about 10k on a 2 million baht company) plus a few hundred baht for various stamps and assorted paperwork.

Been a long time since I did this, so my information could be rusty, but the situation hasn't changed that much. Anyone who charges more than 15k all inclusive for a 2 million baht company has a hefty profit margin.

[Guest Bellini]

PM me if you would like an accountant in pattaya whom I have used fo 18 years

Won't it be a little difficult for an accountant in Pattaya to register a company in Payao?

[Guest Bellini]

You ask your girlfriend and go find your own 7 Thai shareholders.

What girlfriend?

[SNGLIFE]

I would suggest doing it yourself. You can probably find someone in or around the Ministry of Commerce who could help you for a song.

If you insist on getting a lawyer or accountant to do it, don't inquire here on the boards. Ask someone on the ground who already has a good business running.

Case in point: I contacted www.chiangmailaw.com just a few weeks ago to do some grunt work for me while I am abroad so that I would not have to spend time upon my return to do it myself. They passed my case to some other outfit (www.attorneythai.com) who contacted me to send them a document which I have amongst several documents, but they couldn't even describe properly in Thai language! Here is the reply I received today, in fact:

"Hi

The workers of an accounting company tried to find the mentioned license, but hard to get it because they have lots of document in the company. Sorry for this, if you do not have this document, we need to make a copy from the Department of Business.

Concern to your company, I will provide you the legal service and dealing with the Ministry of Commerce (making the copy of the license) charge 2 hours of working (5,000 baht per hour) . In case you want to continue this work, please confirm.

Regards,

Nida"

I replied wishing him/her luck finding someone dumb enough to even think of paying that much. So much for trying to get things done by remote. The fact that the english on their economy website sucks so bad (typical) was a big red flag, so it really doesn't surprise me. Imagine them writing a contract...yikes!

When I return, I will take the 30 minute taxi ride from my favorite BKK hotel along with my wife to the MOC and take care of everything myself as I did when I first set up my company years ago. I paid a lawyer to do it before only to find that I ended up having to appear in person and do much of the legwork myself just to get it done. At best, I ended up paying them to guide me through the process.

You really can do it yourself just as easily as in your home country provided you can find someone intelligent enough to translate (NOT interpret, as Thais are likely to do!) the documents you need to file and conversations between you and the MOC staff.

Edited June 22, 2008 by SNGLIFE

[Janissary]

IS it that easy, to translate and etc. only?

You still need the thai person holding 51% (and able to show their bank record that they have a certain amount of money for a long period of time *according to the lawyers), and according to them - the law is changing on 1st July. Though I don't know what changes there're.

[johnnyk]

Don't need 7 shareholders any more.

Three will do, although I favour a higher number so its harder for them to get together and plot!

Company set up fees vary according to the type of company and capitalization.

Work permit companies always cost more, they are more complex to set up.

Min price for a 1 million baht co. would be about 30K baht.

[A_Traveller]

The other thing causing some wheel spin presently is the exact requirement for employees. Previously the 4 employees were a requirement for extension of a foreigner WP, now it has been suggested that a number of Thai employees may be a requisite for the initial issuance of the permit.

Regards

PS Yes the law is changing shortly, changes include a reduction ion the number of 'sponsors' from 7 to 3.

PPS Just checked the Department of Business Development {see bellow} and the new law is not presented there.

Edited June 24, 2008 by A_Traveller

[A_Traveller]

For Do it Yourselfers...

MoC Forms Download {Thai}

There are zipped PDFs which can be downloaded and edit on the PC

Regards

Edited June 24, 2008 by A_Traveller

[Pattaya46]

Don't need 7 shareholders any more. 3 will do.

Sorry it's wrong.

Today you still need at least 7 shareholders .

The new law with only 3 shareholders will be in application only... in July.

So better to wait 1 week to ask for your WP

[johnnyk]

Don't need 7 shareholders any more. 3 will do.

Sorry it's wrong.

Today you still need at least 7 shareholders .

The new law with only 3 shareholders will be in application only... in July.

So better to wait 1 week to ask for your WP

My mistake, I thought it was already in effect.

No worries me, not want WP.

[maxtingtong]

Do you got a link to the new law on companies? I red on an other 3d that if you're married with a thai to open a company or a partnership with her the 2M baht (and even the 1M) is not necessary to ask the wp.. I need to read the new law to definitely understand how's actually going.

many thanks

Max

[johnnyk]

you can have a company with no wp

[maxtingtong]

you can have a company with no wp

yeah ok.. but if you look here, looks like there's more options than that

http://www.thaivisa.com/forum/Business-Set...29#entry2072629

anyone know anything about it?

Thanks

bye

Max