Starting My Own Business In Thailand - What Do I Need

[nick_g]

Hi Guys

I wonder if you can help me, i am looking into starting my own magazine in thailand. I am just wondering what are the requirements that i would need in terms of going over and starting this up.

If any one can help, that would be great.

Thanks

Nick

[thaiphoon]

You will need to set up a thai company which 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, if your visa or subsequent extension is issued in Thailand. I overcome this problem by obtaining new NonB visa every 12 months from my home country. 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%. You will need to draw around THB 50,000 a month salary (but depends on nationality) and pay tax as a requirement to keep your work permit alive.

Have a look at the following link for more information

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

Edited July 16, 2009 by thaiphoon

[Soutpeel]

You will need to draw around THB 50,000 a month salary (but depends on nationality) and pay tax as a requirement to keep your work permit alive.

Not strictly true, the circa THB 50,000/month is to do with a requirement of being granted an extension of stay based on employment. ie you dont need to renew your Non-imm B every 12 months . and you dont need to leave the country every 90 days. You state you are getting a new Non-imm B every 12 months, then the THB 50,000 requirement doesnt apply to you as you are not on extension of stay

[thaiphoon]

Soutpeel, not strictly true. In my case I am on Non B issued outside the Kingdom. To renew my Non B in my home country I have to provide, inter alia, a copy of my thai tax return showing minimum salary of 600k and company withholding tax forms showing the recent payment of salary tax. Without these documents I cannot renew my visa, and without a new visa I cannot renew my WP

[thaicbr]

Thaiphoon are you getting your visa at an Embassy or Consulate?

[thaiphoon]

Thai consulate - Birmingham, UK. Have done this for years.