Opening a Business here, where to start?

[LarryBird]

Hi, I would like to open a business here offering marketing to local businesses here in Chiang Mai. To start out, I would like to hire somewhere around 4-5 Thai people to assist me with this.

I have a general understand that for some businesses which operate here in Thailand, they cannot sell their product within the Thai borders, or, if they do, they pay a reasonably large tax. However, there are a lot of farang in the area operating restaurants, so I imagine this would be considered a similar business.

If it helps, I am on a non-imm O visa with a Thai wife. As she will not be involved with the business, I would rather not put it in her name.

(Sorry, I imagine this has been asked a lot, but I didn't see it covered in the stickies, or in any other topics.) What is a good resource for finding out everything I need to?

LB.

[Sunbelt Asia]

In A Thai Limited company three shareholders are required and at least 51% of the shares must be owned by Thai nationals if the business does not fall under certain qualifications allowing for 100% foreign ownership; such as a company that only exports, or if the company is being set up by American nationals using the Amity Treaty, or under the aegis of the Board of Investment (BOI). In your case you would need to set up a Thai Limited Company that is majority owned by Thai people unless you are an American and then you could open an Amity Company, with three shareholders but as the American you can own the majority of shares.

A limited company in Thailand must have at least 2,000,000 Baht of registered capital in order to obtain one work permit. We recommend that 25% of the shares are paid in when setting up the company, to show that the business has working capital and has not been set up purely to provide a work permit. Once you hire four Thai employees and have 2,000,000 Baht of registered capital, you will be able to obtain one work permit through the company.

Sunbelt Asia does not have a branch in Chiang Mai but these are the very basics of starting a business. If you would like to have a free consultation next time you are in Bangkok please feel free to contact me

[sunbeltlegal][/sunbeltlegal]