Starting an electrical company in Thailand

[GuyF]

The title says it all, I am looking to start my own business in Thailand, and that would be an electrical company.

Research, I know, but I am in the lucky street on that one because I have already good contacts, and they where the reason why I would like to start because there are lots of new projects coming out, buildings and so on, so don't worry about finding clients cause I might have a heavy client list already.

What I'd like to know is how to start with it, what kind of business form should I take LTD or Co. Ltd. What are the requirements?

FYI, I will not work myself in the buildings, there for I will look for Thai workers that I myself will form and educate with all the needed info and safety.

So what are the requirements, financially how much should I invest in the business and so on?

Thx for the info.

[Langsuan Man]

Seems with your excellent contacts and all the jobs you have lined up I can't see how we could help

Your on your way to taking a large fortune and making a little one out of it, especially since you are going to be able to teach the Thais all the needed info and safety nonsense

Will give you credit though, at least you don't think the road to riches are in owning a bar in Thailand

[Crossy]

Since this is more about setting up an SME let's try in the Business forum.

[ericthai]

Best is to get a lawyer to help you since it seems you dont know anything about setting up a company in Thailand. It will cost you allot more than setting it up yourself but you will know it is being done correctly. Make sure you chose a reputable lawyer.

If you are not aware ownership will need to be 51% Thai leaving you 49%. There are exceptions, if you are from the USA there is a treaty you can own the company 100% but there are limits on this too.

How much to start the company? Nobody can help you with that, it all depends on what you need for supplies, equipment etc.

Do you just plan of selling supplies or doing installations. If installations need to make sure you have a licensed electricians working

for you. It will help if You have a contact in the local govt where you are doing project for permits etc. Are you an Engineer?

You might be required to get a license yourself in Thailand. All depends on your job position. Also, you better learn the Thai regulations

they are not the same as back home.

Make sure you bid your projects according to local prices, there is allot of competition for industrial projects both local and foreign.

I have done allot of projects over the years in the petrochemical industry and it all comes down to who you know to get jobs.

Good luck!

[Naroge]

As you seem to have business lined up already i would recommend to invest in a good lawyer to get things started. This will ensure you the quickest start up time (good for your cashflow) and minimize future issues.

As for "LTD or co.ltd" they are the same thing. Just a question on how you like to translate your Thai company name to English.

Good luck.

[boisian]

I thought there was a free trade agreement between Hong Kong and Thailand, so if you set up in HK you can then operate in TL, and that there are Tax and Visa advantages with basing in H K. But I know this purely from Heresay so I cannot advise any more apart from saying it might be worth checking out.

Poysian

[Rinrada]

Could advertise that all works will be carried out in accordance with IEE 17th Edition Standards....including imported MK/Wylex CUs with RCBos as per normal.(keep the farangs happy)....

thats what I do...."earth rods are us".......

[rotary]

I think you will find stiff competition in this area. It will make little difference that you do a better job to a higher standard. As other posters have said you are on your way to starting a company to make a small fortune from a large fortune.

Edited April 19, 2014 by rotary

[Suradit69]

"...I will look for Thai workers that I myself will form and educate with all the needed info and safety..."

Because of your fluency in the Thai language, including the vocabulary of your field of "expertise, your in depth comprehension of Thai building codes and understanding of local labor laws, hiring practices, etc.??

There are always loads of building projects under way, so presumably whatever you do someone else is already doing. Why exactly would this heavy client list choose someone with no proven track record in Thailand rather than going with an existing business with prior experience and the right connections to cut through red tape?

Suggest you first try to get yourself hired by a company doing the same sort of business in Thailand already so that you get some practical experience in-country first without risking large amounts of investment capital.

[Langsuan Man]

This thread gets more bizarre by the minute !

How did a Hong Kong Thai free trade agreement enter into the discussion ?

How did IEE 17th Edition Standards....including imported MK/Wylex CUs with RCBos make it here ?

How was it determined that the OP was fluent in Thai ?

I am still trying to understand what kind of "electrical" company this guy is interested or qualified for ! Commercial or residential construction ? Retail sales ? Repair ? or does he want to start generating electricity as an electrical company does ?

Another thread with one post followed by multiple guesses about what the poster is really asking

[GuyF]

Thanks for the advice so far, indeed maybe I should be a little more clear in my first post.

I am myself an industrial electrical engineer, working globally, I go to many country's for electrical jobs.

Married to a Thai citizen I am looking to start something here, I do not say nor mean that this will be the chicken with the golden eggs nor that this is going to get me awfully rich, no, but If at least it is something sustainable where a profit is made as an extra income then I have reached my goal.

Although I found already some useful info as I didn't know that Thailand has also a certified electrical standard to which the installation should respond to, these are the things I would like to find out.

The job would be mostly in residential buildings.

Edited April 19, 2014 by GuyF

[bulekee]

Thanks for the advice so far, indeed maybe I should be a little more clear in my first post.

I am myself an industrial electrical engineer, working globally, I go to many country's for electrical jobs.

Married to a Thai citizen I am looking to start something here, I do not say nor mean that this will be the chicken with the golden eggs nor that this is going to get me awfully rich, no, but If at least it is something sustainable where a profit is made as an extra income then I have reached my goal.

Although I found already some useful info as I didn't know that Thailand has also a certified electrical standard to which the installation should respond to, these are the things I would like to find out.

The job would be mostly in residential buildings.

That would be house bashing then,if you are looking for a good wholesaler I still have contacts with Newey & Eyre.

[khunPer]

To OP:

In your research budget you shall allow expenses for buying the book; “How to Establish a Successful Business in Thailand” by Philip Wylie, Paibbon ISBN 1-887521-75-8, www.paiboonpublishing.com. That will give you answer to your questions and a lot further information.

A limited company is called “Co. Ltd.” in Thailand. You will need a minimum shareholder capital of 2 million baht and 4 Thai employes to obtain Work Permit for one foreigner, which you need if you wish to be managing director. You can only hold 49 percent of the shareholder capital, the remaining 51 percent have to be Thai shareholders. I presume you will need an authorization for providing electrical installations.

Wish you good luck with your project.