how much does company registration and accounts for a work permitte cost please?

[dare]

how does a work permit cost please/

[ubonjoe]

A work permit by itself cost 3000 baht plus a filing fee of 100 baht for the application.

Other costs will depend upon who you hire to do it.

[FritsSikkink]

You need to hire 4 Thai people too if you want a work permit for yourself in that company.

[rheinwiese]

• The applicant must be in possession of a valid temporary Non-Immigrant visa

The applicant must earn the minimum income prescribed by law and which varies according to nationality

The employer-company must have registered and fully paid-up capital of not less than THB2 million

It cannot be indicated in the audited financial statements of the employer-company that the company is non-operational

The employer company must have an employment ratio of at least 4 Thai permanent staff to 1 expatriate, as evidenced by the monthly income tax return (PND1) and Social Security Fund documentation

[membob]

With a lawyer 120,000 for setup and your work permit. Excluding your travel to do visa.

Every month

3500 for accountant

9000 x 4 for "staff" (min bangkok wage)

Xxxx for you

~14,000 taxes

Half year accounting about 12,000

Annual accounting about 16,000

There might be a few more I forgotten.

[khounteen]

Thats about 50k baht pm. Excluding set up fees. No wonder so many foreign owned small businesses cannot survive.

[CNXTim]

It depends on where your prospective company is to be domiciled - which must match where you go about registration.

having done this now on three separate occasions, the latest just last month, i can say;

In Chiang Mai expect to pay around 35,000 THB and Bangkok closer to 50,000.

Find a good lawyer and accountant who speaks and provides all documentation in your language (English?) and be advised (and overall be patient), there is a lot of paperwork.

[keestha]

For setting up a company and applying for a work permit you do not necessarily need an accounting firm. For the company setup, go to the panit changwat , and for the work permit to the labor office (leng ngaan), both in the capital of the province, they will supply you with lists of the required documents.

The 120.000 Baht setup fee mentioned above seems very grossly over the top.

[HUAHIN62]

With a lawyer 120,000 for setup and your work permit. Excluding your travel to do visa.

Every month

3500 for accountant

9000 x 4 for "staff" (min bangkok wage)

Xxxx for you

~14,000 taxes

Half year accounting about 12,000

Annual accounting about 16,000

There might be a few more I forgotten.

Visa renewal every year, updating company documents if older than 3 months (then buying something/taking a loan)and SS payments.

[manarak]

With a lawyer 120,000 for setup and your work permit. Excluding your travel to do visa.

Every month

3500 for accountant

9000 x 4 for "staff" (min bangkok wage)

Xxxx for you

~14,000 taxes

Half year accounting about 12,000

Annual accounting about 16,000

There might be a few more I forgotten.

15k a year for setting up and maintaining the company (setup costs included)

yearly token corporate tax: 2000 baht

2 to 3k a month for accounting

4x social fund for employees: 3600 baht per month

your personal income tax: 2400 per month

so, on a monthly basis, the total cost is 10.000 baht

to obtain and renew the work permit, it is also advisable to use the same lawyer so things go smoothly - the cost for abtaining and renewing the work permit and corresponding extensions of stay is around 20k yearly, so add that to the total.

total with work permit: about 11.600 baht per month

[membob]

Thanks for adding the additional costs guys.

As I stated these costs are if you use a lawyer. If you have any half decent business this is peanuts. Doing it yourself doesn't seem worth the time or aggravation.

For the first year in most cases you'll have to take a directors loan of 2m baht and pay that off in your first year. Second year you should show at least a 13% profit to the revenue department.

Yes it's harder and more expensive than it should be but that's just what it is here. Plenty of people do it so it's not as hard as it seems.

[khunPer]

»how much does company registration and accounts for a work permitte cost please?«

You Thai limited company need a registered capital of 2 million baht for being eligible to 1 work permit. The capital does not need to be paid in full upon registration.

A company set-up normally cost around 30k to 50k baht.

Accountant costs depend of how much work to be done every month, but with some activities in the company and minimum number of employees you shall count 3k to 5k baht a month. Be aware of, that you normally will need 4 Thai employees for 1 work permit, and a full annual statement – may be some exception of annual statement if the work permit is for a director, a lawyer can inform you in details.

Social security for 4 Thai employees is 10 percent of their wage (2014 rate), i.e. 4 x 800 baht on minimum wage of average 8,000 baht monthly with 1 day off a week. The foreign employee on Work Permit shall have a minimum wage as officially stated, typically in the area of 40k baht/month or more, from which withholding income tax has to be paid. Social Security for foreigners is an option; I don't think it's mandatory, but worth considering, as it includes health service and the maximum fee is 1,500 baht/month.

Annual statement (auditor) will cost in the area of 20k baht, again depending of activities in the company of how complicated the statement might be.

Be prepared to pay some semi-annual company tax, normally of minimum 2k baht.

Be aware of, that a foreigner can only hold 49 percent of the shareholder capital, and you will need a minimum of 3 shareholders, where the Thai shareholder(s) shall hold at least 51 percent of the capital. Proxy shareholders are not accepted, so each Thai shareholder must prove their access to funds for buying their shares in the company.

The actual cost for obtaining a Work Permit I do not know, but often the lawyer or the company accountant can do it for you; the latter may be more reasonable priced than an agency.

[DrTuner]

And the office rent on top, right ?