I'm Belgian. Can I own a hotel 100%?

How much taxes should I pay on annual income?

How much is the salary of a hotel worker in Thailand?

As a Belgian, there are no exception to the business/company in following the obligation of having the majority ownership (By Thai individual of juristic identity). That simply means that your company (the identity to operate the hotel) must have the majority of the shares (51%) owned by either a Thai individual and/or Thai juristic identity. The only exception to this rules is through the BOI Approval. But their obligation is to establish the business right from the scratch. That means that you could not acquire an existing hotel business. Another exception that would allow you to have 100% foreign owned company is to operate Hotel Management Services company, but under this category, you (as the Service Provide), you must not be part of the hotel owner (that is you are not the owner of the land, building).

In regarding to the taxes. If we are to discuss the corporate tax it is similar to an individual tax (i.e. using progressive rate based on the profits). This also depends on how the Revenue Department categorize your company. If your company’s registered capital is over 5 million Baht, your company would be tax at the fixed rate of 30% on your profit. As for the individual income tax, the tax would be calculate on the progressive rate as shown below

Net income (after deduction) Rate

From 1 to 150,000 Baht waived

From 150,001 to 500,000 Baht 10%

From 500,001 to 1,000,000 Baht 20%

From 1,000,001 to 4,000,000 Baht 30%

Over 4,000,001 37%

The salary rate is upon mutual agreement between the employer and the employee, but it must not be less than what the Labor Protection and Welfare stipulates which would be different from one province to another. For example, the minimum salary for a worker (blue collar worker) in Bangkok is 215 Baht per day (or equivalent to 6,450 Baht per month) as shown in the following website http://www.mol.go.th/en/employee/interesting_information/6319 for other location.

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