Ukraine ... Enlighten yourself

[edwardmoulton]

I'd like advice on the following is possible:

I own a website here that makes a bit if money and hopefully will increase in time.

I am married to a Thai and have a child here.

I am currently here with a Marriage Visa and work permit on my Thai company.

I gather many people base themselves out of Hong Kong and live here doing without the Thai company...

I am setting up bank accounts in HK and an offshore company from there - BVI or similar in early Jan but what I want to know is how to structure things to:

1. maintain a long term visa here - marriage or otherwise

2. work here ( i think this is only possible with the Thai company but someone told me it is possible as a consultant from abroad...)

3. structure things so that the money from my business here can be sent to HK or offshore thereby missing out the tax here...

Any iudeas anyone - sorry it is long winded but it is all related and I need to find the over all solution.

Thank you... Eddie

[Mario2008]

1. is ok

2. you have to work through a Thai company, otherwise no WP.

3. Don't know. Try jobs/economy section.

[Soutpeel]

I am setting up bank accounts in HK and an offshore company from there - BVI or similar in early Jan but what I want to know is how to structure things to:

1. maintain a long term visa here - marriage or otherwise

2. work here ( i think this is only possible with the Thai company but someone told me it is possible as a consultant from abroad...)

3. structure things so that the money from my business here can be sent to HK or offshore thereby missing out the tax here...

Any iudeas anyone - sorry it is long winded but it is all related and I need to find the over all solution.

Thank you... Eddie

By setting up a company account/Bank account in HK, you will not get around the tax.....you will be paying tax in HK...utlimately you have to pay tax somewhere, its quite difficult to get around

A lot of guys here work on double contracts (technically not legal) and pay minimum tax in Thailand and balance is paid tax free in an offshore account.

Also sending money from your business here to "your account" in HK may not be as easy as you think it is as you have to "declare" money going out..

To me the best solution long term for you is the company/work permit route in Thailand, provided you can structure your salary to suit Thailand taxation..ie pay yourself minimum salary and pay the tax on that.

[ubonjoe]

I think you visa and work permit questions have been answered.To sum it up keep your company, work permit and extenison as you have it now.

For the company/tax questions I am moving your topic to the Jobs,economy,banking,.......forum

[SeaVisionBurma]

By setting up a company account/Bank account in HK, you will not get around the tax.....you will be paying tax in HK...utlimately you have to pay tax somewhere, its quite difficult to get around

Incorrect. A legitimate offshore company set up in HK, with corresponding HK bank account - can be used legally to remit funds from other countries without paying tax in HK. An annual return must still be filed with the HK Govt - but tax is only paid on revenue from income sourced in HK itself. I can't comment on the tax situation for the Thailand based business (and remitting funds out of Thailand) - but the offshore company set up properly in HK can be used to remit funds from income in other countries....

[torrenova]

New regulations for under 50, married or not, with child. Show 400k in bank (has to have been there 3 months) and you get a one year extension.

On married, the 400k is no more and the husband has to show earnings of 40k a month but does not have to pay Thai tax on that or earn the money in Thailand.

With the child, the 400k is easier but before the changes was for over 50 years only. Now no age restriction.

[Khun Jean]

Terranova,

Interesting, do you have more information about that, or was this the change from oct 2006?

OP:

I have a BVI with a virtual office in HK. A partnerships (PS) with my wife that 'works' for this BVI company.

BVI sends invoices to customers. PS works and sends an invoice for a much lower amount to the BVI. Me and wife pay tax on profit of PS (which is little) and no tax for the profit made in the BVI (which is larger).

2 atm cards. One from the PS for daily use. One from the BVI to buy larger things, holidays, etc.

Visa is a normal 'O' type for marriage. PS makes enough money for workpermit and visa requirements.

Edited December 30, 2008 by Khun Jean

[edwardmoulton]

thanks Khun Jean - that seems to be the answer... you are a star. I was starting to think down those routes but you summed it up totally. One question, does the wife ahve to be involved to make the formula work and if so in what capacity.... I have a wife but I would rather do offshore stuff without...