Dear all,

I have been told that to start a business in Thailand as a foreigner, one needs a minimum of 2 million in the bank, and to employ 4 Thai nationals. I was wondering, if a round about way for this to work would be letting (for example) your girlfriend to open a business on her name, and to employ you as a foreigner. How much would it cost a Thai company to employ you, provide you a work permit etc.? What are the regulations? What is the best way to open up a business without forking out 2 million Baht? is the bove described method applicable? Thank you ever so much in advance.

As far as i know any company employing an expat needs the 2 million baht registered share capital and 4 Thai workers regardless of whether the company is in a girlfriends name or not. I am not sure of the regulations now but you used to be able to start the company without the 2 million but you must be able to show it at the end of your first year of trading.

The 2,000,000 baht paid-in capital and four Thai employees are Immigration requirements for a long-term entry permit extension - not requirements related to starting a company.

If you can live with making a 12-hour bus trip every 90 days (see http://www.jackgolf.com/eng/visaService/cambodia.asp), you can obtain a work permit to legally work for your own company by setting up a company with 2,000,000 baht REGISTERED capital - and pay-in what you will - although thai law specifies that you are supposed to pay-in at least 25% of the registered amount within 90 days of incorporation.

My own perception is that anyone who cannot pay-in at least 500,000 baht isn't going to make it anyway.

Anyone who wants straight information on the process of starting a company in Thailand can write to me via conventional e-mail (to which I can reply with attachments), and I will send you several documents that lay out the story.

Good luck!

Steve Sykes

Managing Director

Indo-Siam Group

Bangkok

[email protected]

www.thaistartup.com

Skype: sykesbkk