Setup Company + Bank Account for Girlfriend?

[Sviss Geez]

Yep, if a Thai can't (or doesn't bother to) find himself/herself info about how to set up & run a Thai company in Thailand... I'm speechless.

Just my 2 cents.

"Just my 2 cents."

And worth a little less.

[Fab5BKK]

Could you develop a little bit more... I'm quite curious...

Yep, if a Thai can't (or doesn't bother to) find himself/herself info about how to set up & run a Thai company in Thailand... I'm speechless.

Just my 2 cents.

"Just my 2 cents."

And worth a little less.

[belg]

is the business just for your girlfriend that has 0% experience, or also for her family and possible thai husband ?

[metaben]

OP has a legitimate question(s). Remember this is about a Thai national opening his/her own company.

We are always reading about "how do I start a business in LOS", this is another subject.

That lead to many others, i.e.:

- when do you have to declare/create a "company", does a stall in a market/independent contractor have special status? Is it based on revenue, profit...

- if you stat an LLC can a farang be a minority (silent) partner?

- when and at what profit level do you declare VAT, keep books, hire an accountant?

- is there an "unwritten" tolerance level for any of these...

Hope we get some answers.

[Robert24]

It all depends on the type of business this lady wants to open. If it's just a small type business like restaurant, hairdresser shop etc,I would recommend to do this as an individual,no need to register. Small businesses usually not pay tax or VAT. However if she would like to create a trading company or a supplier company of certain materials etc,I would suggest to register a company. Also as a company you can limit your financial liability to the assets and capital of the company. But obviously you need to pay tax and provide the government with your annual tax filing,meaning you need to hire an accountant to so thism You can read up many of these things on the link I posted earlier today.

- with regards to your queation whether a foreigner can be a minority shareholder. The answer is yes.

- if you have a company you need to file your tax return annually and you need to hire an accountant to do so.

[WhizBang]

Look in the mirror. Perchance do you have the letters M A R K on your forehead?

[shaurene]

Go and see a local lawyer talk to them and he will set the company up, cost around 10-15k. Take the papers and the company stamp to the bank and open the account, not hard.

Depends what she is planning the business to do. If it is a shop she may not need to registar a business, we opened a shop like a small dairy/corner shop, went to the local Gov office registered her name and got licence, pays each year to renew it and pay a small tax.

Good luck.

[luis888]

Your girlfriend is Thai, speaks Thai and lives in Thailand. Why can't she find out for herself? Why can't she Google in Thai, ask a Thai friend, call a Thai government agency? Just flip the situation around: you and her are in your own country, you want to start your own business....so you ask/expect her to find out for you in her non-native language in a foreign and unfamiliar country how to start one?

Your girlfriend is Thai, speaks Thai and lives in Thailand. Why can't she find out for herself? Why can't she Google in Thai, ask a Thai friend, call a Thai government agency? Just flip the situation around: you and her are in your own country, you want to start your own business....so you ask/expect her to find out for you in her non-native language in a foreign and unfamiliar country how to start one?

Unless of course, she is unable to find out the details herself....in which case. .opening her own business would be a waste of time and money

Jeez, thanks to the two total nincompoops. It's a reasonable question and I'd love to know the answer too.

You may call them nincompoops but you have to admit, they have a valid point

[TEFLKrabi]

Assuming the idea of this forum is to offer advice then I stand by what I said. If the idea is to show how smart we all are and how dumb others can be then I apologise.

[a1falang]

Assuming the idea of this forum is to offer advice then I stand by what I said. If the idea is to show how smart we all are and how dumb others can be then I apologise.

Believe it or not, this thread isn't about you.

Let's hope the OP provides an update about how his Thai girlfriend did go about opening a company bank account etc. after all the advice, suggestions and perspectives that were offered. After all, if people want others to advise, it's only fair they share information about the outcome to help others in the future.

[ThaiSmarterThanYou]

thais dont need to form a company to start trading, just register a private business licence with the amphoe (sole proprietorship) and start rolling. no special bank account needed, costs: almost nil.

Actually most Thai register nothing and start trading...

[Chao Lao Beach]

Be very careful buying a company, you also get it liabilities, and it is normally much cheaper to sell one than to dissolve one I have been lead to believe..

[Robert24]

It's easy to register one if this is what you want, i.e. register your own company rather than buying one if you like a new one.

[MobileContent]

Have to agree if your Thai GF doesn't know how to setup a company the whole business might fail.

My lassie wants to setup a business designing high value fashion dresses to be distributed globally focusing on Europe and East Asia. I told her you setup the company, get the VAT number and a valid TAX id and I get the manufacturers on board.

She said I don't know and please make it for me so I told her forget the business.

After a week she got all the details and did it all on her own.

[Morakot]

Setup Company + Bank Account for Girlfriend?

1. Register your company name at the Department of Business Development, Ministry of Commerce
2. Go to bank of choice and open business account (with ID card and certificate of company name registration)

For real stuff proceed with obtaining approval for (i) memorandum of association, (ii) apply to register the company as a legal entity, and (iii) submit company work regulations, at the:

Partnerships and Companies Registration Office,

Department of Business Development,

Ministry of Commerce.

Edited October 30, 2014 by Morakot

[metisdead]

A trolling nonsense post has been removed.

[icare999]

are you nuts for goodness sake if its a one person operation why on earn would anyone in their right mind want to open a company a bank account maybe and if your GF does not even know as others have said how to go to a bank and open an account that's totally pathetic

[paddypower]

maybe a brief summaary of all the useful advice posted so far:

1. ignore setting up a company.

- it is not necessary;

- it is expensive

- it requires ongoing yearly costs : professional fees; an audit/an accountant, an tax return,/ a commercial dept return - and so on.

I have a small rental company, I prepare the journal entires needed. There is a bit of tax work - the yearly cost is 20k to 25k.

- if you ignore this advice, and she incorporates a company - do NOT become a shareholder nor a Director. You will be at risk for all sorts of penalties, if the company does not follow the various laws (filing regulations).

2. as explained, it is easy-peasy to start an unincorporated business. The bank account should be in her name only. You should not guarantee any loans, or any credit cards. If she needs money, give it to her and regard it as lost. That way, you will always have 'blue sky' - if she is successful and pays it back.

3. Finally, if you had spent the time, and presented all of this info. in your original post, you might have received a lot more solid advice and less barfly posts. I wish you and your girlfrind all the luck.

[a1falang]

I see the OP never got back to us about the outcome. Wonder how much he lost?