New Company Start up costs accurate?

[spacedcowboy]

Hi I'm considering starting a business in Thailand and have undertaken some initial research into the costs involved.

Here is a quote that I have been given by a local business that have said they can assist me in Koh Samui, to get things up and running for a 2 million bht company.

Service Accounting 2000 bht a month

Salary Tax 3500 bht a month

Business Insurance 5100 bht a month

Service Insurance 500 bht a month

Total 11,100 a month

1 Year visa 15000 Bht

Firstly do these figures stack up regarding what I should be expecting to pay

Kind regards in advance of any replies.

[MRTHAIBRI]

Is the local business a Law company? I'm considering the same thing for 2015 and would only consider dealing with a reputable Law Firm. Might cost a bit more but I would feel much safer.

[onthemoon]

I would think the salary tax depends on the salaries paid.

I'm not sure about the insurance fees: What kind of business are you talking about?

Does the fee of THB 15,000 for a one-year visa include the fee for the work permit?

[spacedcowboy]

I would think the salary tax depends on the salaries paid.

I'm not sure about the insurance fees: What kind of business are you talking about?

Does the fee of THB 15,000 for a one-year visa include the fee for the work permit?

Thanks for the replies, the business is a 1 man I.T. business working from home our clients are mainly Thai businesses, I will however occasionally need to pay for the services of people to assist me and I believe although not 100% that the 15,000bht includes a work-permit.

I'm obviously looking to keep my initial start up costs to an absolute minimum whilst however obviously keeping everything legitimate.

Any advice is much appreciated.

[spacedcowboy]

Is the local business a Law company? I'm considering the same thing for 2015 and would only consider dealing with a reputable Law Firm. Might cost a bit more but I would feel much safer.

Yes it is, and its come recommended as well, I'm looking to pay the extra for a good level of service with as minimum hassle as possible

[onthemoon]

I would think the salary tax depends on the salaries paid.

I'm not sure about the insurance fees: What kind of business are you talking about?

Does the fee of THB 15,000 for a one-year visa include the fee for the work permit?

Thanks for the replies, the business is a 1 man I.T. business working from home our clients are mainly Thai businesses, I will however occasionally need to pay for the services of people to assist me and I believe although not 100% that the 15,000bht includes a work-permit.

I'm obviously looking to keep my initial start up costs to an absolute minimum whilst however obviously keeping everything legitimate.

Any advice is much appreciated.

You will need to ask whoever offered the visa service for THB 15,000 whether it includes the WP. In fact, the visa fees are very low, it is the WP that is more expensive.

Unless you have 4 Thai staff and at least THB 2,000,000 investment, you cannot legally work in this company though.

[Braddockrd]

I would think the salary tax depends on the salaries paid.

I'm not sure about the insurance fees: What kind of business are you talking about?

Does the fee of THB 15,000 for a one-year visa include the fee for the work permit?

Thanks for the replies, the business is a 1 man I.T. business working from home our clients are mainly Thai businesses, I will however occasionally need to pay for the services of people to assist me and I believe although not 100% that the 15,000bht includes a work-permit.

I'm obviously looking to keep my initial start up costs to an absolute minimum whilst however obviously keeping everything legitimate.

Any advice is much appreciated.

You will need to ask whoever offered the visa service for THB 15,000 whether it includes the WP. In fact, the visa fees are very low, it is the WP that is more expensive.

Unless you have 4 Thai staff and at least THB 2,000,000 investment, you cannot legally work in this company though.

Interesting topic. Can you hire nominees and pay them 1 baht a month on order to meet the local staff requirements? If you are required by law to pay minimum salary, do you need to show proof?

Can a foreigner obtain a business license and own a business directly?

[thailampang2012]

If you are married with marriage extension visa, and you will work just by your self or with minimum help, go to the local BDD office and ask for advise. You may do not need to open a company, just a limited partnership, a lot cheaper and easier to do it. Look at the BDD web site. It is in English.

[onthemoon]

I would think the salary tax depends on the salaries paid.

I'm not sure about the insurance fees: What kind of business are you talking about?

Does the fee of THB 15,000 for a one-year visa include the fee for the work permit?

Thanks for the replies, the business is a 1 man I.T. business working from home our clients are mainly Thai businesses, I will however occasionally need to pay for the services of people to assist me and I believe although not 100% that the 15,000bht includes a work-permit.

I'm obviously looking to keep my initial start up costs to an absolute minimum whilst however obviously keeping everything legitimate.

Any advice is much appreciated.

You will need to ask whoever offered the visa service for THB 15,000 whether it includes the WP. In fact, the visa fees are very low, it is the WP that is more expensive.

Unless you have 4 Thai staff and at least THB 2,000,000 investment, you cannot legally work in this company though.

Interesting topic. Can you hire nominees and pay them 1 baht a month on order to meet the local staff requirements? If you are required by law to pay minimum salary, do you need to show proof?

Can a foreigner obtain a business license and own a business directly?

Send me PM, and I will put you in touch with my lawyer friend, who opens companies for foreigners and applies for WPs.

[Schuimpge]

I would think the salary tax depends on the salaries paid.

I'm not sure about the insurance fees: What kind of business are you talking about?

Does the fee of THB 15,000 for a one-year visa include the fee for the work permit?

Thanks for the replies, the business is a 1 man I.T. business working from home our clients are mainly Thai businesses, I will however occasionally need to pay for the services of people to assist me and I believe although not 100% that the 15,000bht includes a work-permit.

I'm obviously looking to keep my initial start up costs to an absolute minimum whilst however obviously keeping everything legitimate.

Any advice is much appreciated.

You will need to ask whoever offered the visa service for THB 15,000 whether it includes the WP. In fact, the visa fees are very low, it is the WP that is more expensive.

Unless you have 4 Thai staff and at least THB 2,000,000 investment, you cannot legally work in this company though.

Interesting topic. Can you hire nominees and pay them 1 baht a month on order to meet the local staff requirements? If you are required by law to pay minimum salary, do you need to show proof?

Can a foreigner obtain a business license and own a business directly?

For work permit you need to show accounts for a certain period of time.

Those accounts need to show a profit or they might require you to increase the paid-up capital...

You also need to show Social Security Records for the persons that work for you.

You then need to provide pictures of your work-place / company.

The Social Security Records are the taxes paid every month, based on the salary paid to each employee. This has to be the minimum wage at least.

There might be additional requirements and the officer on the case might request documents as he/she sees fit.

So yes, you need to show 'quite some' proof.

Cheers

Luc

[bbradsby]

I'd look at the 24k per year accounting costs, as it seems to be well over the top for your operation. Someone correct me, but I believe the requirements are simply for an annual accounting report to the Pirates having Jurisdiction. Maybe a few hours' work.

[realenglish1]

In a nutshell you are in Thailand and here in Thailand you can negotiate anything down in price. I would talk to them and ask for a discount on service fees They will do I am sure of it

[SOTIRIOS]

....we were looking for answers to these questions....in an open forum....(which should be available)....without lawyers or lawyer fees, at this stage....

[ythevenot]

hi,

thailampang2012 do you mean the DBD website?

http://www.dbd.go.th/dbdweb_en/main.php?filename=index

[razer]

For what it's worth, I have a friend who started a very successful restaurant and bar in Phnom Penh. He came to Thailand first but found the tea money and Thai regulations made the investment too costly. He said total investment for start-up in Thailand was around USD $235,000 and in Cambodia it was around $125,000 including tea money.

[ukcorporate]

Good Day,

The general costs as a guide.

Overall Break down of costs is

For Accounting Services:

Monthly Accounting Service 2000 Baht plus (Thai only service)

5000 Baht plus (English)

Monthly Vat Filing 1000 Baht

Social Fund Filing 1000 Baht

Withholding Tax Filing 1000 Baht

Yearly audit 6000 Baht Plus

Half Yearly Audit 3000 Baht Plus

Monthly accounting Packages are available :

Thai accounting service including all tax filings 3500 Baht

English Accounting Service including all tax filings 6500 Baht

These do not include the half/yearly audits

Visa/ Work permit fees:

NON IMM B Visa 4900 Baht (inc government fees)

Work permit Application 8100 Baht (inc government fees)

Registration of VAT 2000 Baht

Registration of Thai Social Fund 2000 Baht

Registration Of 2 million baht company 17,500 Baht ( inc government fees)

Full company set up and visa and work permit, 25,0000 Baht (inc of all government fees)

2000 Baht per month for service accounting would be about accurate for a Thai language only service. If you want your accounts in English then expect to pay around 5000 Baht.

Also keep in mind that the 2000 Baht fee will cover a certain amount of transactions if there are more than the set number then the costs will rise.

On top of your standard accounting fee don't forget to add on for half year audit , and one year audit these are required to be done by a government recognized auditor and fees will vary from around 6000 Baht and up according to number of transactions.

Also if you have a work permit then you will need Vat filing every month and social fund filing every month we charge around 1000 Baht for filing each service, and then with holding tax filing at another 1000 Baht. Of course these could be done yourself if you have time available.

Salary Tax/Withholding Tax this will vary according to the salary that is paid, the minimum salary you can be paid will depend on your nationality.

Visa: The general fee for a one year NON Imm B Visa would be around 3000 Baht plus government fee of 1900 Baht. It will be valid for 90 days in the first instance, you will then extend at local immigration office for the 1 year. This visa must be obtained out side of Thailand, but if you have a current non imm O visa it is possible to change it to a non imm B in Bangkok.

For visa extension you will need Work permit , Proof of withholding tax payment for 3 months

Fee for work permit is 5000 Baht plus government fee of 3100 Baht . The work permit will be valid for 1 year,

For a work permit in the first instance you will need to provide proof of 2 million baht registered capital , VAT Registration and 3 months Social fund payment for 4 Thai employees.

The minimum that can be paid to Thai employees is 9000 Baht per month under Thai law, The Social Fund payment would be 2880 Baht for 4 thai employees on this salary, 1440 from the employer and 1440 from the employee.

Of course there are options with regards to paying the Thai employees salary please contact us for more info..

Steve (Foreign Business Consultant)

Edited March 4, 2014 by Rooo
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[flamesfan]

I would think the salary tax depends on the salaries paid.

I'm not sure about the insurance fees: What kind of business are you talking about?

Does the fee of THB 15,000 for a one-year visa include the fee for the work permit?

Pretty much is what I paid, with the exception of work permit 3100 and you need to pay 50% of your thai employees social insurance. Right now it is about 420B a month per employee. Do not forget to add in tax return,audit etc. at year end. I pay 13,000 a year for complte return and full audit and translation to English!! Hope this helps.

[ukcorporate]

I would think the salary tax depends on the salaries paid.

I'm not sure about the insurance fees: What kind of business are you talking about?

Does the fee of THB 15,000 for a one-year visa include the fee for the work permit?

Pretty much is what I paid, with the exception of work permit 3100 and you need to pay 50% of your thai employees social insurance. Right now it is about 420B a month per employee. Do not forget to add in tax return,audit etc. at year end. I pay 13,000 a year for complte return and full audit and translation to English!! Hope this helps.

Yes your about right current fee for Thai social fund is 4% so 360 baht per month on a 9000 baht salary. from employer and employee, total of 2880 for all four thai employees

[Neilcnx]

Good friend and good U.S. lawyer (Georgetown Law) in Samui. He's a straight shooter

Daniel Chernov: <removed>

Edited March 4, 2014 by LivinginKata
email removed as per forum rules

[mrfaroukh]

I suggest you to contact different lawyer as well to just get the correct information. You don't want to face problem after paying huge amounts.

[khunPer]

Your expenses seem to be for a very small operation.

Prices may vary depending of where you stay (work) and if you need English translations.

I think you normally will need 4 Thai employees to obtain 1 work permit, presumable also one year balance sheet.

A bit adjusted for a (very) small business:

Service Accounting 2000 bht a month (1k – 2k for a very small & simple operation)

Annual balance 1500 bht a mont (i.e. minimum 15000 to 20000 a year)

Salary Tax 3500 bht a month

Social security 4000 bht a month (10% of salary, if you pay 3500 tax, salary = 40+ k)

Company Tax 500 bht a month (do expect to pay Co. tax, even you may not have a profit)

Business Insurance 5100 bht a month

Service Insurance 500 bht a month

Total, minimum 17,100 a month

You may need to consider costs for: Thai employees salary and SS; rent for a place to operate from; daily operation expenses; even something called a sign-tax if you need a sign with the business name and operation, higher tax if including foreign-letters etc. etc.

May I suggest to get hand on the book “How to Establish a Successful Business in Thailand” by Phylip Wylie (Paiboon ISBN 1-887521-75-8), where you may find a lot in inspiration and help to sketch a budget.

Wish you good luck with your project.

[ukcorporate]

Your expenses seem to be for a very small operation.

Prices may vary depending of where you stay (work) and if you need English translations.

I think you normally will need 4 Thai employees to obtain 1 work permit, presumable also one year balance sheet.

A bit adjusted for a (very) small business:

Service Accounting 2000 bht a month (1k – 2k for a very small & simple operation)

Annual balance 1500 bht a mont (i.e. minimum 15000 to 20000 a year)

Salary Tax 3500 bht a month

Social security 4000 bht a month (10% of salary, if you pay 3500 tax, salary = 40+ k)

Company Tax 500 bht a month (do expect to pay Co. tax, even you may not have a profit)

Business Insurance 5100 bht a month

Service Insurance 500 bht a month

Total, minimum 17,100 a month

You may need to consider costs for: Thai employees salary and SS; rent for a place to operate from; daily operation expenses; even something called a sign-tax if you need a sign with the business name and operation, higher tax if including foreign-letters etc. etc.

May I suggest to get hand on the book “How to Establish a Successful Business in Thailand” by Phylip Wylie (Paiboon ISBN 1-887521-75-8), where you may find a lot in inspiration and help to sketch a budget.

Wish you good luck with your project.

Social Security 4000 Baht ? From your description I think you have this confused with withholding tax on salary which you also have listed as salary tax.

Good idea to allow for company tax though sound advice.

[ukcorporate]

Your expenses seem to be for a very small operation.

Prices may vary depending of where you stay (work) and if you need English translations.

I think you normally will need 4 Thai employees to obtain 1 work permit, presumable also one year balance sheet.

A bit adjusted for a (very) small business:

Service Accounting 2000 bht a month (1k – 2k for a very small & simple operation)

Annual balance 1500 bht a mont (i.e. minimum 15000 to 20000 a year)

Salary Tax 3500 bht a month

Social security 4000 bht a month (10% of salary, if you pay 3500 tax, salary = 40+ k)

Company Tax 500 bht a month (do expect to pay Co. tax, even you may not have a profit)

Business Insurance 5100 bht a month

Service Insurance 500 bht a month

Total, minimum 17,100 a month

You may need to consider costs for: Thai employees salary and SS; rent for a place to operate from; daily operation expenses; even something called a sign-tax if you need a sign with the business name and operation, higher tax if including foreign-letters etc. etc.

May I suggest to get hand on the book “How to Establish a Successful Business in Thailand” by Phylip Wylie (Paiboon ISBN 1-887521-75-8), where you may find a lot in inspiration and help to sketch a budget.

Wish you good luck with your project.

Social Security 4000 Baht ? From your description I think you have this confused with withholding tax on salary which you also have listed as salary tax.

Good idea to allow for company tax though sound advice.

As a second thought if your thinking of a government retirement fund like in the west? Not needed as not a Thai citizen therefore not entitled to any return

[khunPer]

Your expenses seem to be for a very small operation.

Prices may vary depending of where you stay (work) and if you need English translations.

I think you normally will need 4 Thai employees to obtain 1 work permit, presumable also one year balance sheet.

A bit adjusted for a (very) small business:

Service Accounting 2000 bht a month (1k – 2k for a very small & simple operation)

Annual balance 1500 bht a mont (i.e. minimum 15000 to 20000 a year)

Salary Tax 3500 bht a month

Social security 4000 bht a month (10% of salary, if you pay 3500 tax, salary = 40+ k)

Company Tax 500 bht a month (do expect to pay Co. tax, even you may not have a profit)

Business Insurance 5100 bht a month

Service Insurance 500 bht a month

Total, minimum 17,100 a month

You may need to consider costs for: Thai employees salary and SS; rent for a place to operate from; daily operation expenses; even something called a sign-tax if you need a sign with the business name and operation, higher tax if including foreign-letters etc. etc.

May I suggest to get hand on the book “How to Establish a Successful Business in Thailand” by Phylip Wylie (Paiboon ISBN 1-887521-75-8), where you may find a lot in inspiration and help to sketch a budget.

Wish you good luck with your project.

Social Security 4000 Baht ? From your description I think you have this confused with withholding tax on salary which you also have listed as salary tax.

Good idea to allow for company tax though sound advice.

Thanks for your comment.

OP listed “salary tax” of 3500 b/mb00 in his budget, and that figure sounds quite right with what others pay in withholding salary tax from the minimum farang salary, some 40k and op, depending of from where you originate.

Social Security is normally 10% of the salary, withholding salary tax or not, i.e. for an 8k to 10k a month Thai employee the company shall pay 800 to 1000 baht a month. I don’t’ know if there is a maximum limit on the fee, but SS also apply to foreigners on Work Permit, thus they can also claim the SS benefits, hereunder health. The one-stop employment office at the amphor, normally have a very informative well-written leaflet in English about SS.

[ukcorporate]

Your expenses seem to be for a very small operation.

Prices may vary depending of where you stay (work) and if you need English translations.

I think you normally will need 4 Thai employees to obtain 1 work permit, presumable also one year balance sheet.

A bit adjusted for a (very) small business:

Service Accounting 2000 bht a month (1k – 2k for a very small & simple operation)

Annual balance 1500 bht a mont (i.e. minimum 15000 to 20000 a year)

Salary Tax 3500 bht a month

Social security 4000 bht a month (10% of salary, if you pay 3500 tax, salary = 40+ k)

Company Tax 500 bht a month (do expect to pay Co. tax, even you may not have a profit)

Business Insurance 5100 bht a month

Service Insurance 500 bht a month

Total, minimum 17,100 a month

You may need to consider costs for: Thai employees salary and SS; rent for a place to operate from; daily operation expenses; even something called a sign-tax if you need a sign with the business name and operation, higher tax if including foreign-letters etc. etc.

May I suggest to get hand on the book “How to Establish a Successful Business in Thailand” by Phylip Wylie (Paiboon ISBN 1-887521-75-8), where you may find a lot in inspiration and help to sketch a budget.

Wish you good luck with your project.

Social Security 4000 Baht ? From your description I think you have this confused with withholding tax on salary which you also have listed as salary tax.

Good idea to allow for company tax though sound advice.

Thanks for your comment.

OP listed “salary tax” of 3500 b/mb00 in his budget, and that figure sounds quite right with what others pay in withholding salary tax from the minimum farang salary, some 40k and op, depending of from where you originate.

Social Security is normally 10% of the salary, withholding salary tax or not, i.e. for an 8k to 10k a month Thai employee the company shall pay 800 to 1000 baht a month. I don’t’ know if there is a maximum limit on the fee, but SS also apply to foreigners on Work Permit, thus they can also claim the SS benefits, hereunder health. The one-stop employment office at the amphor, normally have a very informative well-written leaflet in English about SS.

Okay i understand. :-) the current rate is 4 % of thai employees salary up to a maximum of 600 Baht. Last year was 3 % and before that was 5 % as far I I can recall it has never been at 10% though that's pretty high. (1000 baht from an average Thais 10,000 baht salary)

Foreigners can register for SS health benefit with a work permit but really not worth the effort if you have your own health insurance already.

[spacedcowboy]

This is all great info Guys thanks all very much for your input, I'll take the advice given and shortly take up the P.M. offers.

Just one final question because the the work I'll be undertaking can and will be undertaken "remotely" via a laptop on a 50% split in Thailand and in my home country probably six months in each on a 2 month rotate.

I know I need to have the necessary company professionally set up and in place to be able to commence my business, could someone shed some light on the approach they would advise.

Cheers again.

[khunPer]

Your expenses seem to be for a very small operation.

Prices may vary depending of where you stay (work) and if you need English translations.

I think you normally will need 4 Thai employees to obtain 1 work permit, presumable also one year balance sheet.

A bit adjusted for a (very) small business:

Service Accounting 2000 bht a month (1k – 2k for a very small & simple operation)

Annual balance 1500 bht a mont (i.e. minimum 15000 to 20000 a year)

Salary Tax 3500 bht a month

Social security 4000 bht a month (10% of salary, if you pay 3500 tax, salary = 40+ k)

Company Tax 500 bht a month (do expect to pay Co. tax, even you may not have a profit)

Business Insurance 5100 bht a month

Service Insurance 500 bht a month

Total, minimum 17,100 a month

You may need to consider costs for: Thai employees salary and SS; rent for a place to operate from; daily operation expenses; even something called a sign-tax if you need a sign with the business name and operation, higher tax if including foreign-letters etc. etc.

May I suggest to get hand on the book “How to Establish a Successful Business in Thailand” by Phylip Wylie (Paiboon ISBN 1-887521-75-8), where you may find a lot in inspiration and help to sketch a budget.

Wish you good luck with your project.

Social Security 4000 Baht ? From your description I think you have this confused with withholding tax on salary which you also have listed as salary tax.

Good idea to allow for company tax though sound advice.

Thanks for your comment.

OP listed “salary tax” of 3500 b/mb00 in his budget, and that figure sounds quite right with what others pay in withholding salary tax from the minimum farang salary, some 40k and op, depending of from where you originate.

Social Security is normally 10% of the salary, withholding salary tax or not, i.e. for an 8k to 10k a month Thai employee the company shall pay 800 to 1000 baht a month. I don’t’ know if there is a maximum limit on the fee, but SS also apply to foreigners on Work Permit, thus they can also claim the SS benefits, hereunder health. The one-stop employment office at the amphor, normally have a very informative well-written leaflet in English about SS.

Okay i understand. :-) the current rate is 4 % of thai employees salary up to a maximum of 600 Baht. Last year was 3 % and before that was 5 % as far I I can recall it has never been at 10% though that's pretty high. (1000 baht from an average Thais 10,000 baht salary)

Foreigners can register for SS health benefit with a work permit but really not worth the effort if you have your own health insurance already.

Stand corrected, thanks.

Seems like you are correct, but as both employee and employer shall pay, it's double up – i.e. 2 x 4 percent equals 8 percent, if company pays all. In my company the accountant has always charged 10 percent (5+5) of the paid out salary, so perhabs I shall look into that. My company pays for both emplyee and employer, so no SS is deducted in salary. Rate according to Social Secity Fund for 2014 is 5% (i.e. 5+5 = 10%).

[ukcorporate]

This is all great info Guys thanks all very much for your input, I'll take the advice given and shortly take up the P.M. offers.

Just one final question because the the work I'll be undertaking can and will be undertaken "remotely" via a laptop on a 50% split in Thailand and in my home country probably six months in each on a 2 month rotate.

I know I need to have the necessary company professionally set up and in place to be able to commence my business, could someone shed some light on the approach they would advise.

Cheers again.

A couple of possible options and problems.

1. set up a branch in Thailand is possible, but you will need to be a registered company in your home country, of course you will need to pay tax in both countries. :-(

2. Only receive payments to an account outside of Thailand and technically you are not receiving funds here therefore no company needed (of course you will be illegal to work at the time that you are working in Thailand) and your thai customers will have to transfer payment overseas.

other than that it's a case of the previously discussed option, full thai company setup.

[yankee99]

My thai company setup cost 20,000 initially vat registered with por kor 20 i think?

Accounting is 5,000 a month includes vat and all those tax receipts 6 month and end of the year filing. Annual audit is extra and ss is extra 500 a month. No business insurance and ss is 4% of 9000 i also think there is a cap meaning if someone makes 100,000 a month ss is only paid up to 15 or 20,000 but i cant remember for sure.

I think your numbers are high and you need to get away from accountants that look to business with falangs....

[yankee99]

Good Day,

The general costs as a guide.

Overall Break down of costs is

For Accounting Services:

Monthly Accounting Service 2000 Baht plus (Thai only service)

5000 Baht plus (English)

Monthly Vat Filing 1000 Baht

Social Fund Filing 1000 Baht

Withholding Tax Filing 1000 Baht

Yearly audit 6000 Baht Plus

Half Yearly Audit 3000 Baht Plus

Monthly accounting Packages are available :

Thai accounting service including all tax filings 3500 Baht

English Accounting Service including all tax filings 6500 Baht

These do not include the half/yearly audits

Visa/ Work permit fees:

NON IMM B Visa 4900 Baht (inc government fees)

Work permit Application 8100 Baht (inc government fees)

Registration of VAT 2000 Baht

Registration of Thai Social Fund 2000 Baht

Registration Of 2 million baht company 17,500 Baht ( inc government fees)

Full company set up and visa and work permit, 25,0000 Baht (inc of all government fees)

2000 Baht per month for service accounting would be about accurate for a Thai language only service. If you want your accounts in English then expect to pay around 5000 Baht.

Also keep in mind that the 2000 Baht fee will cover a certain amount of transactions if there are more than the set number then the costs will rise.

On top of your standard accounting fee don't forget to add on for half year audit , and one year audit these are required to be done by a government recognized auditor and fees will vary from around 6000 Baht and up according to number of transactions.

Also if you have a work permit then you will need Vat filing every month and social fund filing every month we charge around 1000 Baht for filing each service, and then with holding tax filing at another 1000 Baht. Of course these could be done yourself if you have time available.

Salary Tax/Withholding Tax this will vary according to the salary that is paid, the minimum salary you can be paid will depend on your nationality.

Visa: The general fee for a one year NON Imm B Visa would be around 3000 Baht plus government fee of 1900 Baht. It will be valid for 90 days in the first instance, you will then extend at local immigration office for the 1 year. This visa must be obtained out side of Thailand, but if you have a current non imm O visa it is possible to change it to a non imm B in Bangkok.

For visa extension you will need Work permit , Proof of withholding tax payment for 3 months

Fee for work permit is 5000 Baht plus government fee of 3100 Baht . The work permit will be valid for 1 year,

For a work permit in the first instance you will need to provide proof of 2 million baht registered capital , VAT Registration and 3 months Social fund payment for 4 Thai employees.

The minimum that can be paid to Thai employees is 9000 Baht per month under Thai law, The Social Fund payment would be 2880 Baht for 4 thai employees on this salary, 1440 from the employer and 1440 from the employee.

Of course there are options with regards to paying the Thai employees salary please contact us for more info..

Steve (Foreign Business Consultant)

^^^^ I would use this and look to pay 50% because this would be the top of the price range!

Edited March 4, 2014 by Rooo
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