2 Q'S: American Starting It Consulting Biz, And Marriage

[macnmotion]

Hi, I've been reading your answers and have found some useful information. I have two questions:

1) I have lived in BKK one year (US Citizen) and have been working for 7 months under a work permit with a company. I will be leaving this job in 6 weeks. I am researching other full time opportunities, but am interested more in doing consulting work (that's what I have been doing in USA for many years). From your advice, it seems I should talk with the BOI concerning setting up an IT consulting biz. If I create a Thai company (myself and 2 others), how can I work for that company as a foreigner and get a work permit? I thought the ratio had to be 4:1 in order for a foreigner to do this. So how can a foreigner get a work permit as the sole consultant under this type of business structure (or any structure)?

2) I am engaged to a woman with both Thai and USA citizenship. From what I understand if we get married here it puts her property holdings at risk? Since may of her holdings are also in the names of various family members it puts their holdings at risk too? But what if we got married in the USA since we both have citizenship there? How are her and her family's holdings affected then? Is there a place I can get detailed information about all of this? It seems everyone has their own opinion but nobody give the same answer. I have an appt set with the US Embassy in Bangkok, but thought I'd check here too.

Thanks.

[SunbeltAsiaExpert]

Registering a company in Thailand based on BOI entitles you to certain benefits and incentives. Such incentives include but not limited to the following:

1) Basic Incentives

The BOI offers two kinds of incentives to promoted projects, regardless of location: tax incentives and non-tax incentives.

a) Tax-based incentives include exemption or reduction of import duties on machinery and raw materials, and corporate income tax exemptions.

Non-tax incentives include permission to bring in foreign workers, own land and take or remit foreign currency abroad.

2) BOI Privileges by location

(Example)

Zone 1 : includes Bangkok, Samut Prakan, Samut Sakhon, Nakhon Pathom, Nonhtaburi and Pathum Thani

(Bangkok and 5 provinces)

a) 50 per cent reduction of import duty on machinery that is subject to import duty of not less than 10 percent

Corporate income tax exemption for 3 years for projects located within industrial estates or promoted industrial zones, provided that such a project with capital investment of 10 million baht or more (excluding cost of land and workng capital) obtains ISO 9000 or similar international standard certification within 2 years from its start-up date, otherwise the corporate income tax exemption will be reduced by 1 year.

c) Exemption of import duty on raw or essential materials used in the manufacturing of export products for 1 year.

In order to receive the investment promotion certificate, the applicant must set up the company within six months of accepting the approval, and submit all of the following documents to the Office of the Board of Investments (OBOI):

– Application form for promotion certificate

– The memorandum of association

– The certificate of business registration

– A certificate stating the registered capital, a list of directors indicating those empowered to bind the company, and the address of the head office

– A list of the shareholders and their nationalities

– A document showing the transfer of funds from overseas, or a certificate of investment from overseas issued by the Bank of Thailand for foreign investors

– A joint venture contract, licensing agreement, technical assistance contract and/or technology transfer contract (if any)

– Form of utility and manpower requirements.

Registration of a company requires minimum 3 shareholders. You may register the company with majority foreign-owned shares (even as much as 100% foreign-owned) but it is only allowed to operate once the BOI investment promotion certificate has been issued. In a normal Thai limited company, the minimum capital in order to obtain a work permit is 2 million baht (1 million if you are married to a Thai national having a Non-immigrant O visa or an extension of stay based on marriage to a Thai national). As far as work permit is concerned, under a BOI approved application, the capital requirement is irrelevant. You may employ as many foreigners as your project requires according to the company’s BOI proposal. Furthermore, the requirement of Thai employees (ratio of Thai vs foreigners 4:1) is non-applicable. You may obtain a work permit as the Managing Directors of the company and enable work permit for other foreign employees depending on the number of foreigners required in BOI proposal.

(excerpt from http://www.boi.go.th/ more info in the website)

Do you have any questions about getting a Visa for travel/business/retiring/investing in Thailand? Please "ask the visa expert" from Sunbelt Asia here: Thaivisa.com - Ask the Visa Expert from Sunbelt Asia

This information has been provided by Sunbelt Asia Co., Ltd. Sunbelt Asia has been the main sponsor of Thaivisa.com since 2002.

You can contact Sunbelt Asia at (66)2-642-0213 or email us here. Please visit our website for more information on doing business, working, investing, travelling, owning real estate, or starting your own business in Thailand at www.sunbeltasiagroup.com. We are located at 1 Ratchadaphisek Rd., Floor 26, Bangkok, Thailand 10400 and can easily be reached by public transportation.

*This does not constitute legal advice or serve as a substitute for direct legal consultation with a licensed attorney. The information is provided for educational purposes only and it may not account for the specific facts and laws that may be applicable to each individual's situation. Also, there may be changes in the law that may affect your specific case so the answers provided here should not be considered to be applicable your personal situation.

Legal information is not the same as legal advice, which is the application of law by a licensed attorney to an individual's specific circumstances. Although we go to great lengths to make sure our information is accurate and useful, we recommend that you consult a lawyer if you want legal advice specific to the facts surrounding your case. This information does not take the place of discussions with a licensed lawyer and it does not create an attorney-client relationship between readers of the information and Sunbelt Asia, Co. Ltd. or any of its employees.

[sunbeltlegal][/sunbeltlegal]