Opening A Company

[pigeonjake]

hi guys, can i open a thai company then work through it in other countrys, like the uk, angola, just to get me salery paid into it, thanks for your help in advance,, ron

[Gulfsailor]

Yes you can work abroad via a Thai company, providing you are not on a payroll of the foreign company. If your Thai company sends an invoice to the foreign company for your services rendered, then your Thai company can pay you salary in Thailand. A good reason to do this is to get a workpermit and visa, to allow you to stay in Thailand. However, do not do this to save on taxes. Personal income tax ranges from 5% to 30% and if you give yourself a low salary to keep income tax down, your company will make a profit, over which you will have to pay 15% or 30% corporate income tax, depending on the height of the profit. Furthermore you need to employ 4 Thais to allow for one foreigner workpermit. (well employ, you need to pay the tax and social security for these). And then you have the cost of your accounting, setting up the company, etc. Let's say that you make THB 3 million baht anually, while working abroad and you give yourself a salary of THB 600,000 per year (minium for workpermit and visa extension for most nationalities), then you can expect to pay:

personal income tax: 45,000

corporate tax (after some expenses deducted): 600,000

Annual accounting and audit: 80,000

Workpermit and visa (if you use outside service to do it for you): 30,000

Social security for you and 4 Thais: 22,000

Total cost per annum: Thb 777,000 or approx. 26% of your revenue (based on 3 million)

If you do are under 50 and do not want to marry a Thai or have a Thai child, it is one of the very few ways to stay in this country a long time. If you are married it will all become a lot cheaper. You put some money in a Thai account and get a visa to stay. You can then open an ofshore company in HK or Vanuatu or whichever taxhaven and invoice from there, nearly no taxes have to be paid then and you do not require a workpermit, since you do not work in Thailand.

Good luck!

[pigeonjake]

thank you for your help in this, it wasnt to stay here, as yes i am married, and i work in bkk now at the moment but ill be doing 4to 5 months in the uk in the new year then off to angola on a 6 and 3 contact, but when i finnish in a couple of years i will be looking at the visa options for a married man, to a thai, with 2 children, thank you again ron