Starting a consultancy business in Thailand Vs Hong Kong

[Jajazazajaja]

I am currently preparing to start a consultancy business which will serve clients all over asia. I have a home in Bangkok, but is it worth all the red tape and bureaucracy of incorporating a business in Thailand, instead of starting an offshore in Hong Kong or Singapore in 2 days flat?

I have no need of an office, or 2 pointless Thai members of staff to walk around in their slippers all day.

What do people in similar situations recommend?

I travel outside of Thailand Mon-Fri and only spend weekends here.

cheers

[MichelBangkok]

The eternal question ! Where to setup shop ? After 23 years here, speaking fluently the local dialect and having some intense exposure to businesses in country and with the neighboring countries, inclusive of the two ones you mention, would suggest to remain very careful if you decide that Thailand will become your operational base. It's not just the bureaucracy !

Unless you have issues with visas to remain in Thailand and where a work permit could be useful Singapore, although becoming more and more expensive, would be my choice with Hong Kong as an alternative if you hit a roadblock due to their more stringent requirements...

Good luck !

[onthemoon]

Thailand may not be the country where you want to base your company. However, please keep in mind that you do need a company and a work permit if you want to work here. So, if you have a company in Hong Kong or Singapore to bill to your customers, you are not subject to the Thai regulations. I would know about any regulations in the other countries though.

However, just make sure that you are not in Thailand when you do the actual work. Otherwise, you'd be working illegally.

[enrico2]

You have to go for the HK solution. It is the easiest place to open and operate a consulting company, and cheap as nuts.

Go for it

[ajarnpot]

I figure a couple of attractive females sitting in slippers all day would improve my working life. At the start I think I may get a little distracted. But after a while would just appreciate something nice to look at compared to my computer screen at work.

I say go BKK for you business, and you can be creative about the dress code, sometimes slippers and something like a red bow attachment for the head, deely boppers another day then those little red horns I see sometimes.

[Arkady]

After the first year with a WP in Thailand, you would more likely need 4 slippered Thai employees registered in the Social Security Fund with minimum salaries of Bt 15k for graduates and Bt 9k for others. This is up to the discretion of the Labour Ministry officer but they will probably need a reason in writing why you can't have 4 Thais for WP renewals.

If you are working in different jurisdictions all the time, you might be able to get away with using an offshore company with a bank account in HK or Singapore to invoice customers. Otherwise, HK is probably easiest.

[thaibook]

this is ancillary to the original question, but what are the key disadvantages of setting up a consultancy in Thailand, other than the need for the 4 employees? I am thinking of moving to Thailand and setting up shop there. My clients are mainly in USA/Europe.