Start a business in Thailand

[MarcIssan]

I am American and see a business opportunity and wish to start a company with my Thai wife as co-owner. What percent can I own and what is the legal requirements to report income, sales, etc to the Thai government?

Also I am not familiar with the Thai accounting rules. I own companies in America and know the write-offs allowed but not those in Thailand. Where can I get this info?

Marc

[Sunbelt Asia]

Hi Marc

You have several options available to you but if you want to retain control of your company the best structure for you would be the Amity company, all companies must have three partners but you can own majority shares in this company. Please be aware however, that an Amity company cannot own land.

The other alternative is a Thai Limited Company with your wife as the majority shareholder and you and the other partner as minority shareholders. If your wife is to be a director she will not be counted towards the 4 Thai employees quota however.

Accounting is usually done by an accountant since its rather complicated and of course, all in Thai. Audits must be filed annually and of course taxes must be paid. If you would like to make an appointment for a free initial consult in Bangkok please feel free to get in touch with me via personal messenger, the tax system, write offs etc are rather complicated to go into here

[sunbeltlegal][/sunbeltlegal]