Starting A Business In Thailand

[JoeyT]

Hello I`m american and I want to start a business overthere but my problem is capitol I have about 1,000,000 baht and I`m going to belooking at businesses ranging from 300,000 to 500,000 baht.

I do need a work permit I understand I need to register a2 million baht company but only 25% of that about 250,000 baht need todeposited into the business account is that right?

What about thai workers I was told i need 3 .

What is as an american I start a sole proprietor companyhow much do I need to set it with the work permit ?

Can you tell me anything about front company if I don`tget the work permit with that do I get some kind of investor visa to stay inThaland?

Thank you kindly for your help

[SunbeltAsiaExpert]

If you are considering investing in a company, our firm can sponsor you to obtain a one year multiple entry visa from a Embassy.

Registered paid up capital can be paid by the shareholders either in cash or assets. The registered capital must be

· Normal company (with majority of the shares owned by Thai identity) must have at least 2 Million Baht of registered capital.

· Thai-US Amity Treaty (majority of the shares owned by US Citizen) must have at least 3 Million Baht of registered capital.

On both kind of companies, at least 25% must be paid up and the remaining 75% can be paid up over the course of the year.

But when applying for a work permit, the official expects the 2 Million Baht of the company’s registered capital to be fully paid up plus the responsibility of employing 4 Thai employees. However, in the first year after the company has been set up the Labor Department will process a work permit with only 2 Thai employees registered to the company, in recognition of the fact that the business has been newly established and may not require 4 Thai employees immediately. It is important to note that when coming to renew your work permit you will then require 4 Thai employees. The requirement for 2,000,000 Baht of registered capital can be discounted by 50% in the case where the work permit applicant is legally married to a Thai national holding a valid non-immigrant O type visa based on marriage to a Thai national (or an extension of stay based on marriage to a Thai National). That would reduce the paid up registered capital requirement to 1 Million Baht. The Labor dept does not look at the bank account but will take your word the shares have been paid up either by assets or cash.

As an American you are also eligible to register your business as a Sole Proprietorship, but such an identity would not accommodate your work permit, as the Labor Department are now reluctant to approve work permits for this type of legal entity.

Please note that even if you have an Investment Visa or a Non-Immigrant “B” or “O-based on marriage”, you would not be eligible to work legally until you have been granted with a Work Permit. Such visa would only allows you to stay in Thailand for certain period.

An investment visa can be acquired if you have invested a minimum of 10,000,000 Baht in the Kingdom. This investment could be made in the form of property purchases (condominiums), funds deposited into a fixed savings account with a Government approved bank, or investment in Government bonds. The accumulated total investment must be at least 10,000,000 Baht in order to qualify for this type of visa.

www.sunbeltlegaladvisors.com