Business in Thailand

[nzexpat]

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I would wait until December when we MAY all know more above the ASEAN AEC rules and regulations

It maybe easier then

Agree with another poster and live in Thailand for 1 year before you spend any money

Do your market research and due diligence

as I have seen many try and 99% fail

99% fail. Is that a recognised statistic or your opinion???

It is most likely an observation rather than a statistic .

I have also been witness to many failed "foreign" businesses.

[ableguy]

Are you really into Thailand ? Or some Thai chick or chicks ? Either way keep your money in the bank.

[edw]

Hi guys,

Tqvm for the advises, I will take into consideration.

Well, as I said, I'm in love with Thailand for YEARS, and the thought of living in thai come to my mind only recently.

I have no knowledge about it and I don't expect that I can achieve it so fast. That's the reason I start this new post to ask for opinions and advises from you guys, whether my plan is working? Or is there any better options instead of setting my own business in Thailand.

It seems setting up own business isn't a good option, is there any advise on better option?

Edward

[nzexpat]

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Hi guys,

Tqvm for the advises, I will take into consideration.

Well, as I said, I'm in love with Thailand for YEARS, and the thought of living in thai come to my mind only recently.

I have no knowledge about it and I don't expect that I can achieve it so fast. That's the reason I start this new post to ask for opinions and advises from you guys, whether my plan is working? Or is there any better options instead of setting my own business in Thailand.

It seems setting up own business isn't a good option, is there any advise on better option?

Edward

There are very few (no?) "options " which would allow a 30 yr old to secure a long term stay in Thailand

[edw]

Are you really into Thailand ? Or some Thai chick or chicks ? Either way keep your money in the bank.

I'm into Thailand, not thai chick.

[edw]

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Hi guys,

Tqvm for the advises, I will take into consideration.

Well, as I said, I'm in love with Thailand for YEARS, and the thought of living in thai come to my mind only recently.

I have no knowledge about it and I don't expect that I can achieve it so fast. That's the reason I start this new post to ask for opinions and advises from you guys, whether my plan is working? Or is there any better options instead of setting my own business in Thailand.

It seems setting up own business isn't a good option, is there any advise on better option?

Edward

There are very few (no?) "options " which would allow a 30 yr old to secure a long term stay in Thailand

Unless I get a job offer that gets me the work permit?

[luk AJ]

Good idea people in love usually make the best choices over here

here how u will be served..

u will invest 100% of the money and then u own 49 % of your company...Sounds great right hahaha

Random thai share holders will hold 51% of your company...

u also need to hire 4 thai staff and for work permit its so complicated and so full with 100,0000 rules and regulations that soon u hairs gonna be grey..

good luck ur business sure u be rich soon!@

i have my own company with 60 employees. If you don't know how in reality the 51% is managed you better don't reply at all. It is already confusing enough. And yes my business is very successful.there are always opportunities everywhere but you have to see them. People with negative attitudes will never succeed nowhere.

[blackcab]

2. If the company obliges to the rules above you will get a work permit.

First two years of the company you will have to go to get a new multiple non-B from Malaysia.

After that you can get an extension of stay from immigrations in Thailand.

This is untrue. If your company fulfills the requirements of the Immigration Department you will receive a 1 year extension of stay after you apply during the initial 90 day period granted by a single entry non immigrant B visa.

Annual extensions of stay of 1 year are possible thereafter.

[digitalchromakey]

2. If the company obliges to the rules above you will get a work permit.

First two years of the company you will have to go to get a new multiple non-B from Malaysia.

After that you can get an extension of stay from immigrations in Thailand.

This is untrue. If your company fulfills the requirements of the Immigration Department you will receive a 1 year extension of stay after you apply during the initial 90 day period granted by a single entry non immigrant B visa.

Annual extensions of stay of 1 year are possible thereafter.

You can't get a National Police Order 327/2557 Case 2.1 Extension without first producing two years worth of audited accounts showing a sound financial condition for your company, check the regulations..

Basis for Consideration

...

(4) The business concerned must have duly submitted its financial statement as at the end of the two fiscal years and certified by an auditor or tax auditor, showing a sound financial condition

A bit difficult if you try and do this before two fiscal years are up.

[blackcab]

So please explain how I have recently received a work permit and a 1 year extension issued in Bangkok after receiving a single entry non immigrant B visa, for a company that was formed only weeks before I applied for the visa?

I am happy to post pictures of my passport and work permit if you do not believe me.

[nzexpat]

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So please explain how I have recently received a work permit and a 1 year extension issued in Bangkok after receiving a single entry non immigrant B visa, for a company that was formed only weeks before I applied for the visa?

I am happy to post pictures of my passport and work permit if you do not believe me.

Pictures are always helpful in securing understanding !

[digitalchromakey]

So please explain how I have recently received a work permit and a 1 year extension issued in Bangkok after receiving a single entry non immigrant B visa, for a company that was formed only weeks before I applied for the visa?

I am happy to post pictures of my passport and work permit if you do not believe me.

Either you got lucky, something else strange happened, or your application was not under Case 2.1.

A scan of the one year permission stamp in your passport and any text written above/below would help our understanding, don't worry about the WP scan, it's not germane.

Thanks in anticipation.

[blackcab]

Here are pictures of the visa, the under consideration stamp and the 1 year extension.

[digitalchromakey]

Here are pictures of the visa, the under consideration stamp and the 1 year extension.

Thanks for that, the stamps show that you have a 327/2557 Case 2.1 extension since 'business' is stamped by your conditional approval in Thai.

If your company/employer was only registered at the commerce department recently, then it would not have been possible to produce the required audited company annual accounts/ tax returns required under the regulations.

Did you prepare the papers and file the application yourself, or did an agent file the application and/or file the application on your behalf?

Edited May 12, 2015 by digitalchromakey

[blackcab]

It was a bit of both. We collected all the documents and prepared everything that was submitted, but we used an agent to do the submission for us.

Other than having to submit originals of all the tax and social fund documents we did nothing special. No additional payments were asked for or given.

Edited May 12, 2015 by blackcab

[digitalchromakey]

It was a bit of both. We collected all the documents and prepared everything that was submitted, but we used an agent to do the submission for us.

Other than having to submit originals of all the tax and social fund documents we did nothing special. No additional payments were asked for or given.

Thanks yet again for the extra info.

Well, if your company was newly registered as you first stated, with no annual audit or PND 50/PND51 annual Corporate Tax returns available for the previous and current fiscal tax years, then you/your agent definitely got lucky in that the immigration officer on the day, or for that matter the officer checking the papers presented for your conditional approval to full one year approval, both failed to notice that these missing papers were not presented in support of your application.

Just goes to show that immigration are by no means totally consistent.

However the best advice as posted still remains that (normally) you need a company to have two years of audited accounts, amongst the other published criteriae, before a one year extension of permission to stay can be issued to an employee on the basis of working in the Kingdom of Thailand (National Police Order 327/2557 Case 2.1).

[dginoob]

I second what blackcab is saying.

I set up a company here last year. End of June, beginning of July I flew over from the UK for 1 week, signed everything that needed to be signed to officially set up the company, interviewed potential recruits, and found an office to rent. I went back to the UK, got a 90-day single entry non-immigrant B visa and returned in the middle of August Thailand to live. Staff started on 1st September and before 90-days expired I got my work permit, and following that my 1-year extension. All done through the proper channels, with the process clearly explained beforehand

If what you are saying, digitalchromakey, is correct then no foreigner could set up a company here as they would be unable to legally work in it for 2 years. How could that possibly be the case?

[nzexpat]

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I second what blackcab is saying.

I set up a company here last year. End of June, beginning of July I flew over from the UK for 1 week, signed everything that needed to be signed to officially set up the company, interviewed potential recruits, and found an office to rent. I went back to the UK, got a 90-day single entry non-immigrant B visa and returned in the middle of August Thailand to live. Staff started on 1st September and before 90-days expired I got my work permit, and following that my 1-year extension. All done through the proper channels, with the process clearly explained beforehand

If what you are saying, digitalchromakey, is correct then no foreigner could set up a company here as they would be unable to legally work in it for 2 years. How could that possibly be the case?

Just as matter of interest what this remarkable achievement cost in terms of Lawyers,Agents and Fixers fees ?

[beechguy]

I second what blackcab is saying.

I set up a company here last year. End of June, beginning of July I flew over from the UK for 1 week, signed everything that needed to be signed to officially set up the company, interviewed potential recruits, and found an office to rent. I went back to the UK, got a 90-day single entry non-immigrant B visa and returned in the middle of August Thailand to live. Staff started on 1st September and before 90-days expired I got my work permit, and following that my 1-year extension. All done through the proper channels, with the process clearly explained beforehand

If what you are saying, digitalchromakey, is correct then no foreigner could set up a company here as they would be unable to legally work in it for 2 years. How could that possibly be the case?

Because that's not what he is saying. One can legally work with a work permit, and a single or multi entry "B" visa, and that would require leaving the country every 90 days. He is talking about obtaining the extensions of permission to stay, so one would no longer need to leave every 90 days, but perform the 90 day reports with immigration.

[timberpond]

I believe that if the sole purpose of doing a business in LOS is to obtain a legal work permit, it will fall into statistic as mentioned above.

[aronp1]

Better to look for a job.

[timberpond]

Better to look for a job.

It's not that easy for everybody. Even if he can find a job, is he willing to make a 15k salary package and still fall in love with Thailand?

[blackcab]

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I second what blackcab is saying.

I set up a company here last year. End of June, beginning of July I flew over from the UK for 1 week, signed everything that needed to be signed to officially set up the company, interviewed potential recruits, and found an office to rent. I went back to the UK, got a 90-day single entry non-immigrant B visa and returned in the middle of August Thailand to live. Staff started on 1st September and before 90-days expired I got my work permit, and following that my 1-year extension. All done through the proper channels, with the process clearly explained beforehand

If what you are saying, digitalchromakey, is correct then no foreigner could set up a company here as they would be unable to legally work in it for 2 years. How could that possibly be the case?

Just as matter of interest what this remarkable achievement cost in terms of Lawyers,Agents and Fixers fees ?

We paid something like 5k for the agent to check our visa paperwork and attend immigration for us to get the under consideration stamp and the 1 year extension, plus the government fees.

We got receipts for the government fees and a VAT invoice from the agent.

[nzexpat]

Delighted to learn that this company was set up without the need for lawyers /accountants and the total cost of the venture was "something" like 5k for an "Agent"

Best you set out the "detail " for the many who will be interested in setting up a 5k company !

[piersbeckett]

I must concur; I'm afraid they're all right!

It's not that it can't be done, I, personally, know five falangs that have what I would call moderately successful businesses going here but they are all, to a man, totally dependent on and married to their female, Thai partners who are all proper 'business-type' women. There must be exceptions but I reckon they'll be rare.

So first you've gotta find one of these types of women, then you gotta build up a relationship based on mutual interest and trust which can't be done quickly; you'll need also to be able to communicate very well with your partner also you've gotta have plenty of money to start with because you'll be financing whatever it is you decide to do then you'll need to get married and then and only then you'll be totally free to do anything as long as you get her approval first.

And you've also got to be happy with that - cow jai mai?

Edited May 13, 2015 by piersbeckett

[edw]

Better to look for a job.

It's not that easy for everybody. Even if he can find a job, is he willing to make a 15k salary package and still fall in love with Thailand?

Agreed with you Austin, 15k baht is way to low to survive! Of course I gotta look for better pay.

[digitalchromakey]

Delighted to learn that this company was set up without the need for lawyers /accountants and the total cost of the venture was "something" like 5k for an "Agent"

Best you set out the "detail " for the many who will be interested in setting up a 5k company !

Read blackcab's reply again, the 5k was merely the fee for helping with the extension application paperwork and filing the extension application with immigration.

Given the result (100% success despite missing paper work), it seems pretty good value to me!

[blackcab]

Please do not seriously misrepresent what I said. You have taken my words and twisted them out of all recognition. Nobody was discussing company formation and the use of lawyers or accountants until you decided to inuclude it in your distorted reply. I was discussing a 1 year extension to a non imm B visa and the cost of obtaining it.

I said, "We paid something like 5k for the agent to check our visa paperwork and attend immigration for us to get the under consideration stamp and the 1 year extension, plus the government fees.

We got receipts for the government fees and a VAT invoice from the agent."

Edited May 13, 2015 by blackcab

[nzexpat]

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Please do not seriously misrepresent what I said. You have taken my words and twisted them out of all recognition. Nobody was discussing company formation and the use of lawyers or accountants until you decided to inuclude it in your distorted reply. I was discussing a 1 year extension to a non imm B visa and the cost of obtaining it.

I said, "We paid something like 5k for the agent to check our visa paperwork and attend immigration for us to get the under consideration stamp and the 1 year extension, plus the government fees.

We got receipts for the government fees and a VAT invoice from the agent."

If 5k was paid for "paperwork" to be checked you was robbed !

Why be "shy" about revealing " the total costs associated with this venture ?

Edited May 13, 2015 by nzexpat

[blackcab]

Robbed? The payment included checking the paperwork for my visa and extension, advising us what other documents would be beneficial for us to submit to gain approval and attending the immigration office at least three times, if not more. Personally I think we got good value for money.

This is off topic, but to indulge you, we paid our lawyers 12k in fees plus the standard government charges for setting up a company. Our accountant gets 1.5k a month.

I fail to see how that is relevant though.