To Form Or Not To Form A Thai Corp

[randyksf]

Silly question and I am wondering if some advice can be given.

History

I am currently on a B type visa.

Formed my own LLc out of Nevada, USA.

Purpose: Having after market 4 Wheel Drive/Jeep parts made here to sell to US business.

Idea

What about forming Thai corporation purchase the items for exportation? Allowing direct shipments to customers, saving in shipping and redistribution costs.

Currently have to return home for to receive each shipment as the volume increases it will not be feasible to go for every shipment.

The chain would work as follows with two corporations.

My US Company would get the order, and then buy from the Thai Corp. The Thai corp. would then put the order and in and pruches from the factory.

Once the products has been delivered the Thai Corp would receive the merchandise and then ship directly to my customers. The customers would then intern pay the US Corporation.

Keeping in mind the Thai Corporation would be run and an extremely low profit margine.

Would this be a totally stupid Idea? Keeping the factory’s from my customers is of up most importance.

Also

When the company is starts to have large profits and volumes I’ll need to hire some Thais on a part time basis. At what point will I be able to heir my self to get a work permit. This is also important because then I can clam my self as an Xpact and receive huge personal tax benefits.

(I know the US regulations on this.)

Idea, comments, snide remarks, personal experiences all are welcome.

Thanks all.

Oh funding of a million baht to get it going is not a problem although I would rather us as little capital as posable. Also what would the exit stratagy be? To get he funds out of the Thai account?

thanks all.

[Indo-Siam]

Hi Randy -

There are lots of firms doing the same thing you are doing - including many that are much larger than yours. And they are having success.

If you send me your e-mail address, I will send you some attachments that lay out various aspects of the process.

Beware that if you reside here with a work permit, you will have to pay yourself at least 60,000 baht here, and pay Thai taxes on that amount.

Good luck!

Steve Sykes

Managing Director

Indo-Siam Group

Bangkok

[email protected]

www.thaistartup.com

[randyksf]

Great thank you Indo-Saim. It would make life a lot simpler. Not sure if what part of the world but in US if you are an expact the first 80k usd is tax free. So paying the Thai taxes on 60k would be a win win.

Email is [email protected]

Thanks so much..