Cost Of Starting A Business

[a269652]

I want to put my enterprise on a legal footing, how much to form a company in Thailand? Kinda thought I'd get an lawyer or accountancy firm to do it for me.

[Indo-Siam]

Hello -

If you send me a conventional e-mail message, I will send back to you an attcahment file which is an interactive cost calcultion worksheet. You make entries at top of page outlining the assumptions applicable to your situation, and the spreedsheet calculates and displays individual line-item costs for each cost factor.

You can play around with the assumptions, to see the impact changes have on transaction costs.

Many of the entries reflect fees charged by my company - but the line items account generically for virtually all of the cost factors involved, regardless of what service provider you use (or even if you do the work yourself).

Cheers!

Steve Sykes

Managing Director

Indo-Siam Group

Bangkok

[email protected]

www.thaistartup.com

[Chang_paarp]

To continue on the "lets do it legal" line.

Having created your company, and running an enterprise what are the reporting requirements?

Company reporting

plus taxation such as;

VAT

Income tax, self / employees

Pension funds

Any other government or municipal requirements?

How often are these paid?

ie every 3 months for business turnover up to XXMbaht, monthly over that?

Typical fees?

Yes I know that is a how long is piece of string question, but as an example in Au a simple private company (Joes Plumbing Pty Ltd) cost about $1200/yr to comply with company reporting requirements on top of tax returns and other operating requirements. The more complex your setup the more you pay for proffesional services.

[~G~]

Reports:

- Witholding tax at source for all services you received - to be paid every month.

- VAT to be paid every month (if collected VAT higher than purchase VAT)

- Payroll income tax every month

- Social security for all employees every month

- preliminary report to revenue department after 6 months

- audit every year

setup:

Don't remember. around 50K I believe?

ongoing fees:

- Rent - for example, you can get a 40sqrm office for 15,000baht in an office building)

- Accounting (around 2,000 baht if the company does nothing. 4,000-5,000 for little activity)

- Aircon (a must): around 3,000 - 4,000 baht for a small office

- Phone line (TOT, CAT)...

- Internet (1,500+ for 4 PCs)

- Office supplies

- Audit - around 10K

- Extra expenses you didn't think of: many.

if you don't have an extension of stay:

- WP: renew every 90 days - 850 baht if you do it yourself

- Visa: visa runs every 90 days - 2,000 baht plus leave thailand once a year to obtain a new visa

In addition, unless you are completly fluent in speaking, reading and writing Thai. you will need help of a Thai staff to some extent.