Set Up New Company

[p_brownstone]

I am a Permanent Resident of Thailand and also hold a Lifetime Work Permit - this type of Work Permit is no longer available but mine was issued over 30 years ago and in that time I have transferred it between Companies 3 times.

It is currently "parked" with a non-active Company.

I now want to set up a new Company - does anyone know what the Regsistered Capital of this Company should be and would there still be a requirement to emply a certain number of Thai staff?

Many thanks.

Patrick

[mallyrd]

I must admit I have never heard of a "life time work permit".

I believe the minimum registered capital is 2 million baht. Depending on the structure of the company will determine the required paid up capital.

You must employ at least 4 Thai workers.

If you are married to a Thai then you only need to employ 2 Thai workers.

There are many more FM's out there who will give you a more detailed response.

[Familyonthemove]

It also depends on the type of business. The Board of Investment (BOI) are helpful and can tell you the requirements. Certain types of business (mainly those that help bring investment and create jobs to Thailand) have simpler requirements. Other types (mainly ones that may compete with local businesses) have tougher requirements or are not allowed.

The capital investment, the number of Thais that need to be employed and the number of foreigners allowed in the business are then set by the industry sector you are entering.

Total process can take up to 6 months.

Unfortunately BOI will be closed this week but they have a Thai web site.

[mallyrd]

It also depends on the type of business. The Board of Investment (BOI) are helpful and can tell you the requirements. Certain types of business (mainly those that help bring investment and create jobs to Thailand) have simpler requirements. Other types (mainly ones that may compete with local businesses) have tougher requirements or are not allowed.

The capital investment, the number of Thais that need to be employed and the number of foreigners allowed in the business are then set by the industry sector you are entering.

Total process can take up to 6 months.

Unfortunately BOI will be closed this week but they have a Thai web site.

I do believe that your timescale can be considered as 6 months being the maximum.

My company process was started in the middle of October last year and was complete by the end of November including the first AGM.

[Familyonthemove]

It also depends on the type of business. The Board of Investment (BOI) are helpful and can tell you the requirements. Certain types of business (mainly those that help bring investment and create jobs to Thailand) have simpler requirements. Other types (mainly ones that may compete with local businesses) have tougher requirements or are not allowed.

The capital investment, the number of Thais that need to be employed and the number of foreigners allowed in the business are then set by the industry sector you are entering.

Total process can take up to 6 months.

Unfortunately BOI will be closed this week but they have a Thai web site.

I do believe that your timescale can be considered as 6 months being the maximum.

My company process was started in the middle of October last year and was complete by the end of November including the first AGM.

I'm impressed ... but yes, I'm sure you are right, the BOI were helpful.

[Mario2008]

Not an expert on starting abusiness. But if you have permanent residency it should be easier, as some requirements are from imigration and some from labour. You don't have to comply with the requirements from immigration, as you have PR.

[dj1]

Hi Patrick,

I have a company available which I don't use. It was used for a work permit last year and I wish to now close it.

If you would like to have it, my excellent Samui accountant can arrange for all the paperwork to be transferred to you.

All I ask is that you pay his fees which are very reasonable. I think it would be below THB 20,000. You can deal directly with him. Should only take a week or two.

You can send me a PM.

By the way, the 4 Thai person rule is an immigration rule if you are applying for a work permit. You are not applying for a work permit so you do not need 4 Thai staff on your books.

Regards

Derek

[DragonQuest]

I'll set you up for 10,000.