Starting A Biz/work Permits

[slashnunn]

Hello-

I am trying to start a small business in Thailand along with two other farangs. We plan on using the USA/Thai treaty of Amity.

We would all like to work, but from what I have read, we would need 4 Thai employees and 2 million baht for each work permit. Is this correct? If so, is the 2 million money we invest in the business??

Thanks a ton!

Dave

[thaiphoon]

I'm not from the US so not up to speed on amity treaty.

But generally company needs to be capitalised at minimum of THB 2million. 25% of that (THB 500k) needs to be paid up, ie, paid into company's bank account to run the business. The balance can show in company accounts as money due from the shareholders. You need to employ 4 thais for each farang worker to obtain a work permit. There are restrictions as to what businesses farangs can operate. Farangs can only own 49% of the shares in the company so you need Thai shareholder(s) for the remaining 51%.

Edited July 15, 2009 by thaiphoon

[Mario2008]

I alsways advise people to have a look at this website for information:

http://www.boi.go.th/english/how/legal_iss...n_investors.asp