Starting A Business With My Thai Husband

[natalie8]

Hi everyone. I hope some of you can help me. I just got married on March 12 and I'm in the process of acquiring the marriage visa. Ever since we were first together, we've been working on a couple of businesses to start up. On the Thai Visa website, it gives great info for foreigners starting business, ex - a certain amount of money in the bank, maximum 49% ownership by the foreigner.

But, I need to clarify some things.

1) If my husband is the primary owner, does he need to have 2,000,000 in a bank account, or is that only for foreigners?

2) Is it more advantageous to either of us to have me listed as a partner in the business, as a consultant or as an employee?

My first choice, would be to have my name on as a partner, of course, but I'm not sure of the difference. Another point that I should mention is that one of the businesses is indirectly related to tourism, so I would be the liason with the western / foreign business owners.

If I've left anything out, please let me know. I look forward to your replies.

[gregchambers]

I think you have a lot more rights than a farang man married to a Thai lady but the basic rule applies anyway never invest more money than you can afford to lose!

Good luck and have lots of fun.

[rishi]

Basically, there are two scenarios: 1) You don't want to work in the business, and thus don't need a workpermit. 2) You want to work in the business, which means you do need a workpermit.

In scenario 1 your husband can just start up his business. No need for money in the bank. No need to form a registered company/partnership. No need for business tax registration. No need for VAT registration (except if he makes more than 1.2 m a year). No need for anything but proper licenses for the kind of business he's doing. If, for some reason, he'd want a company anyway, the minimum requirement is 35 baht registered capital (to yield 7 shares of 5 baht each).

In this scenario you'll have no financial security in case your husband should pass away or divorce you.

In scenario 2 you/husband will have to register either a limited partnership or a company of the 7 shareholder kind, which must have a registered capital of minium 1,000,000 bath (because you - as the foreigner applying for WP - is married to a Thai). Most lawyers would not recommend a limited partnership, because this gives the least financial security to the foreigner.

In case you are investing a lot of money into the business, your best option is to become a registered shareholder holding the 49% of the shares of a co., ltd - regardless of whether or not you want to work in the business.

[rishi]

After posting the above I noticed your subtitle "... and having my name on the visa". This indicates, you're not quite clear with respect to the techniques of a visa.

Your name will not be on the visa - the visa will be in your passport. Since you're married to a Thai there'll be no problem in getting a non-immigrant visa of type "O", which will allow you to stay in Thailand 3 months at a time. No financial requirements to get this visa.

The visa can be extended 1 year at a time in Thailand. If you were a male, there'll be some financial requirements to be met, for getting the extension. I think that things are a bit different for a female, but you'll have to check with someone else. To the Thai authorities the husband is supposed to be the provider and since I'm a husband I haven't bothered to investigate into that unfair advantage for foreign women, married to a Thai.

[natalie8]

Thanks for the replies and the advice. I meant to day "my name on the business contract". Oops. I'll hash out these defferent options and figure out which one's best.

[Sunbelt Asia]

1) If my husband is the primary owner, does he need to have 2,000,000 in a bank account, or is that only for foreigners?

One million Baht as you are married to a Thai and as you will need a work permit based on this statement

one of the businesses is indirectly related to tourism, so I would be the liason with the western / foreign business owners

2) Is it more advantageous to either of us to have me listed as a partner in the business, as a consultant or as an employee?

It is better for you to be a partner for you to have protection. You will also be an employee of this limited company.

www.lawyer.th.com

[sbk]

You can get a one year extension on your non-immigrant visa without having to show income--however, this varies from imm office to imm office, ours asks for bank statements etc. PM when you decide to go for the one year extension and I'll let you know the details.

Unfair or not it is based on the idea that the husband takes financial care of the wife. Since a Thai man is not required to either have a visa or a wp then he doesn't need to show enough money (coming from outside) in order to care of his wife.