Hi

We want to setup a company in Thailand but it has to be 100% foreign owned.
We provide IT solutions and management consulting services for companies in different
countries around the world and won't be hiring staff (Thai or foreign).
Companies will pay their invoices to our Thai account and we can pay the Thai
taxes. We don't do direct business with Thai companies and therefore won't take
money out of the Thai economy. We are also interested in buying some properties
in Thailand.

Currently we are traveling/living around Asia. We have an Ltd in the UK. We
aren't looking for visas but that might be useful and/or necessary.

Could you guys suggest some legit companies that could help us set this up?
We are not a multinational so we're not looking for big corporate lawyers but
we definitely don't want to get stuck with cheaters.

I'm sure there are many of you who can recommend a company from firsthand
experience. Any other input will be welcomed and definitely taking under consideration.

Thanks in advance.

If the company will not hire any staff and won't be doing business with any Thai companies, then why would you bother set it up here instead of in a tax haven?

exactly. Work will all be done outside of Thailand. From a company perspective, the Thai tax man won't care.

All that you need to worry about if you are living in Thailand more than 180 days per year (thus making you a Thai tax resident) is that any income you derive from your firm is taxable in Thailand if it is transfered into Thailand in the same calendar year it is earned.

It's hard to go into why we want to do it the way proposed but it's best for our purpose. Our search for a reliable partner to set this up is still ongoing. recomondations will be apreciated.

Time Traveller and Samran: your comments and suggestions were very legit from your perspective. Thanks for that

if it is 100% owned, then it needs to be Board of Investment sponsored, unless you fall under certain categories of Free Trade Agreements (eg Australian Thai FTA) which allow for a majority holding in some sectors, but not all. Having said that, I don't belive that the EU and Thailand have an FTA like this, so your best bet is to contact the BOI and see what the requirements are - a word of warning though - they'll be looking for people willing to genuninely invest in Thailand.

Failing that, you are stuck with having to have a 51% Thai shareholder.

Thanks Samran, I'm on their website right now. We are interested in
investing (property), but what I can see skimming over their site, that's
probably not what they are talking about.

I also found this piece:
http://www.thaivisa.com/setting-up-thai-private-company-limited.html

Phew what a read, Seems more complicated than in some communist countries.

I also googled and came up with some companies:

http://www.siam-legal.com

http://thailandcompanyregistration.com/

I must say that I'm really surprised about the dificulty of getting this done. This is a great resource site though.

foreginers, nor foreign companies, are not allowed to own land for the main part. BOI sponsored companies are I believe.

People will tell you that you can use nominees, but that is at your own risk.

The only people allowed to own land are Thai nationals, or Thai majority companies.

foreginers, nor foreign companies, are not allowed to own land for the main part. BOI sponsored companies are I believe.

People will tell you that you can use nominees, but that is at your own risk.

The only people allowed to own land are Thai nationals, or Thai majority companies.

That's another big minus.

I'm already inclined to not go through with this. It's just to much hassale. We had another option seems a whole lot better and easier for us. Didn't took me more than a morning to discover that. :-)

However, I still want to buy an apartment, i know i can have that on personal title, for personal use in Pattaya. Actually, it's going to be a cheap one so I don't think it will help with the visa issue. i know that's its possible to get a year visa, i guess money talks. any advice on that?

You can purchase a condo here but have to follow all the procedure correctly. One being funds have to transferred into a government own bank.

You can get a visa and extension of stay if you have 10 million baht to invest in the country. It can be a condo purchase plus bank deposits, bonds and etc.

Why bother?

Neighbouring countries provide better business opportunities at less cost and risk.

Why bother? Neighbouring countries provide better business opportunities at less cost and risk.

Agreed. In terms of business enterprise, I'm a nobody. I did open and operate a restaurant/bar in Vietnam, if that's worth mentioning at all and I've lived in Phnom Penh where I know many business people. Those in Cambodia have virtually free reign to run their enterprises, small and medium, as they see fit. No local partners needed, although a local fixer is always useful. The place has quite a few Thailand business expats who abandoned their Thailand operations or had them taken over. VN is a little more complicated.

Frankly, based on what I've heard about foreigners operating in Thailand and the comments above, I'd sum by saying "anywhere but Thailand". I urge you to check out Cambodia.

Visas in Cambodia, Vietnam and maybe Laos are way easier. Don't know a thing about Indonesia or Malaysia.

Edited March 25, 201313 yr by Kaoboi Bebobp

foreginers, nor foreign companies, are not allowed to own land for the main part. BOI sponsored companies are I believe.

People will tell you that you can use nominees, but that is at your own risk.

The only people allowed to own land are Thai nationals, or Thai majority companies.

That's another big minus.

I'm already inclined to not go through with this. It's just to much hassale. We had another option seems a whole lot better and easier for us. Didn't took me more than a morning to discover that. :-)

However, I still want to buy an apartment, i know i can have that on personal title, for personal use in Pattaya. Actually, it's going to be a cheap one so I don't think it will help with the visa issue. i know that's its possible to get a year visa, i guess money talks. any advice on that?

Buying a condominium and getting a Visa are two completely and independent issues.

You can buy a condominium even when you arrive here as a Visa excempt tourist. Important for buying a condominium

* it must be in the foreigner quota of the building (only 49% can be owned by foreigners) => check with the land-office.

* when transfering your money (in your currency, not in THB) into Thailand (into your personal bank account), you have to quote in the instructions that the money is for buying a condominium

* your Thai bank has to issue the necessary documents for the money transfer, as this document will be needed for the land office as proof that your money came from abroad.

For the Visa... no, money will not talk and nobody will care about whether you own a condominium or not.

Thanks for all of your input.

If investing enough money into the country will get you a visa, money does talk. Thanks for the advice on money procedures. I'll make sure that I check and triple check any transaction before making it. The reason I chose thailand is because thats where I'm going to live. Since I can't get that done, it will probably be macau, because it seems to be easier and cheaper than Singapore. Still living in Thailand though!

Vietnam is out of the question. I know the country well and i'm already tired thinking about trying to get something done. There would be no advantage in setting up in Cambodia.

I've got a couple of months planned in thailand this summer and will take that time to do research; look at some condos and check prices. Anyone a good experience with an agent in Pattaya?

TNX again all!

Nationality matters and the OP did not mention his. Samran mentioned the favourable treatment given to Australians. US passport holders can own most types of company 100%, but probably not a company to own land in Thailand, but then the OP mentioned providing "IT solutions and management consulting services"

Nationality matters and the OP did not mention his. Samran mentioned the favourable treatment given to Australians. US passport holders can own most types of company 100%, but probably not a company to own land in Thailand, but then the OP mentioned providing "IT solutions and management consulting services"

I'm European

Than you cannot set up a 100% owned foreign company.

Maybe you can set-up a branch office in Thailand. But that kind of question is better asked in the business section.