How to bill work for international translation agencies

[Virtualrecluse]

I would very much appreciate any advice concerning how to bill the work I do for translation agencies based in Europe or other continents while living here in Thailand. I am here on a work visa, working at a university, so I already have a Thai bank account. In my spare time, I am a translator working from several European languages into English. What do I need to do to set up a means by which I can bill this work here in Thailand via my local bank account? I am happy to pay tax on it since taxation rates here are so much lower than in Europe, something that could give me a competitive advantage in the market since I would be able to offer cheaper rates.

Any advice welcomed

[Upnotover]

I was under the impression that work permits were issued based on strict definitions as to your employer and the work you do. So your current work is of little bearing to your part time plans. In effect, that part time work would put you in the same category as the "digital nomads" often mentioned here for whom there is no real 100% legitimate way of doing what they do. As for the bank account, that too is not relevant, anyone can get a bank account.

However, seems to me that if you were to call yourself "VR Translations" and appear to be an independent consultant of some sort, you could invoice under that name to the companies concerned and then can pay you directly into your Thai account, or maybe a European account would suit better if you have one. Paying tax in Thailand would be hard to do I think, depending on your EU country you might be liable there.

Just my thoughts.

[MilesofSmiles]

Paypal can transfer from Paypal--> Thai bank account.

It's also very widely accepted.

http://www.payoneer.com/ is also popular.

[Fab5BKK]

Hi VR,

Have you ever considered an offshore set up?

1. You set up an offshore company (Hong Kong, Delaware, Mauritius, Jersey, etc.)

2. You won't appear as the owner / director, if you like

3. You invoice your client(s) through your offshore company.

4. You set up an offshore business bank account in another country and get your client(s) paying their invoices to this account

5. You'll use a debit card, linked to your offshore business bank account, and Internet Banking to get your money.

My 2 cents

[hermesalpha]

Fab5BKK is right, this is an easy setup, I've used it many years. It differs greatly depending which jurisdiction you choose. Hong Kong is convenient, but the downside is the bookkeeping and auditing (which adds up as the auditing requirements are strict). The plus side with Hong Kong is that the initial fees are low and also yearly maintenance fees are low.

Also, if your customers are mainly in Europe you should have at least 1 bank account there. Using only Paypal to receive money is too expensive, I only use it when the customer doesn't agree to pay via bank transfer. Bank transfers within Europe cost almost nothing, but the fees for receiving payments to Paypal are high.

[hermesalpha]

I don't recommend Hong Kong now though, choose another offshore location.

[hermesalpha]

This is the reason I don't recommend Hong Kong now:

(Check Chris many other short episodes also, they contain deep digging journalism presented in an easy digested way about what is happening.)

[hermesalpha]

You can search Youtube for China uncensored.

Edited September 16, 2014 by hermesalpha

[ozsamurai]

PayPal Thailand....done!

[hermesalpha]

Paypal is limited to one country unless you can prove your company has a registered office address in a second country. They are strict on this. I tried, but they discovered I had registered 2 Paypal accounts (which is not allowed). So they deleted one. And to connect a debit/credit card he can only connect a Thai card to a Thai Paypal account, British card to a British Paypal account. For Paypal Thailand, he would need a Thai card.

The best is a Thai (or Asian) bank account, less fees (like HSBC Hong Kong charges very low fees for sending, think nothing for receiving). Paypal is very expensive to receive money.

[ozsamurai]

Incorrect... opened a PayPal in Thailand last week, only used the bank account link (Kasikorn) as verification, no credit card....don't have one. You can also go down to Kasikorn and have them make your ATM card into a 'credit card' status (already has a Visa stamp) if you need that PayPal will recognize. I do not know what this 'upgrade' to the card is called, as I didn't need to do it.

Oz

[hermesalpha]

I didn't mean he NEEDS a card, just that IF he wants to add a card it must be a Thai card.

[Fab5BKK]

As a side note, someone who gets recurrent money into a Thai bank account might have to deal with 2 issues:

1. Tax

2. Authorisation to do this job in the country

Reasons why I recommended an offshore setup...

Just my 2 cents

[MANICMINER]

Paypal is not big in mainland europe: they still like to do bank transfers, so it is best to have a european bank account. Bank transfers between Euro countries are charged at local rates, which is often free or very low rates. For online payments in Europe, they have the sofort system - here is there website:

https://www.sofort.com/eng-INT/buyer/sb/overview/

If you can set up an account, you can bill your clients and they can pay directly from their bank accounts online.

[MANICMINER]

Just saw this website on BBC news:

https://transferwise.com/en

According to this site, you can send money requests and people can pay by bank transfer in Europe. Unfortunately, Thailand is not supported, but you can withdraw money to UK offshore bank accounts, and bank accounts in Singapore - i think it is relatively easy to open either of these accounts. Also, the fees are low.