Opening/Registering A Business In Thaialnd

[craigoaus]

Need a spot of business advice, 'my thai family' and myself make a living selling on eBay. We would clear $6000 a month on average. All our business is done through eBay Australia and the payments are initially made to Aus bank accounts which we then transfer to Thai accounts.

My partner is making noises about buying a house here and wants to borrow the money from the bank. She had one of her mates supply a letter saying she works for her but the banks wouldn't cop that one and wanted tax documents etc.

I am not prepared to buy a property here (heard too many horror stories).

Th easiest way around this as I see it is to at least register a business or what ever is required in Thailand. I have put this to 'the family' and nothing has happened so I have decided 'bugger it' I'll try and get something going....

Problem is I do not know what I need to get going!! I do not care if I am associated with the business but I guess it would be easier if I was for whip cracking purposes. I do not live in Thailand at the moment but am doing a commute every couple of months.

Any advice would be appreciated...

[Soutpeel]

Are you looking to get a WP ? if not your partner could register a company pretty easy.

If you do want to go the WP route...will need a THB 2.0 mil ltd company + 4 Thai employees to get the WP.

The only thing I am a little unsure of is how the Aussie end of things would tie into the Thai end to be considered a viable Thai company..considering payments are made in Aussie....Thai company invoices Aussie comapny ?

[Time Traveller]

Firstly, using fraudulent documents and having never paid income taxes is never a good idea to use for trying to get a bank loan. A waste of time at best, and it's a crime if you get found out. So her choice is either a loan shark or register a business and pay taxes. Typically it would be at least 2 or 3 years of profitably trading record (with tax payment and audited company statements as evidence) before any bank will consider lending to a new business, unless the company has very sizable assets to use as collateral. Typically 3 or 4 times the value of the loan for SMEs. Personally, using a company is going to cost a lot more than just using your own money to buy a house if you have it.

Edited March 11, 2011 by Time Traveller