To Open Exprort Business And Obtain Visa? How Much $$$

[Delray Tweed]

I want to open an export business and obtain a business visa?

How much money do I need to officially open business in Thailand and get a business visa? A ballpark figure is fine.

1. How much does it cost to register a compnay and change tourist visa to business visa.

2. How much money will the Thai govt want to see on the books? do I need to deposit any money in bank account?

No work permit is needed, my assistant will do all the labour. I have 1 Thai person who can be trusted for a partner... so long as they don't have access to my bank accounts

thanks in advance!

-delray

[Steph1012]

Friendly advice.

Boy, you really have a long costly learning experience ahead of you.

Anything at all that you do other than holiday is going to land you in a heap of shit and lose you a ton of money.

[timonase]

I can only agree to Steph...

It is not done with the 2 Questions you asked.

I could sit until tommorow typing or copying links from this forum for you.

Just look around this forum, for yourself and you will see its rather complicated.

all the best though

Timo

[Cyberstar]

Setting up a company (co., Ltd) - with fees for legal assistance etc. - can be done for 20-40,000 Baht depending on exactly how little legwork you feel like doing yourself. Registered capital must be 2 M Baht (if you're not married to a Thai) .... That's what's required to have a legal, registered (Thai) company that can provide a WP for one foreigner.

[desmond]

It is just too complicated if you are going to do it yourself, in the first place, you must be able to read and write Thai. Why not engage a lawyer and let them do it for you ?

[Sunbelt Asia]

I want to open an export business and obtain a business visa?

How much money do I need to officially open business in Thailand and get a business visa? A ballpark figure is fine.

Minimum is 35 Baht registered capital if you will have 49% of the shares.

If you as a foreigner will own 100% of the shares or at least 51% of the shares, it is 2 million Baht registered capital as the company falls under the definition of a foreign company. How much money you want to invest or what the other shareholders will invest, is up to them and you in the statutory meeting.

Example: You can invest 50,000 Baht cash or lower with a 2 million Baht paid up capital. The other 1,950,000 Baht can be non-cash with inventory or equipment as authorized in the statutory meeting by the shareholders.

2. How much money will the Thai govt want to see on the books? do I need to deposit any money in bank account?

Each individual shareholder may make this investment in the company by using either cash or non-cash assets. As a result, the answer is no money needs to be deposited in a bank account.

No work permit is needed, my assistant will do all the labour. I have 1 Thai person who can be trusted for a partner... so long as they don't have access to my bank accounts

You do not need to have any Thai partner in an export business if your company has registered capital of 2 million Baht. This can be cash or non-cash.

If you decide to go the 49% route as there is no minimum registered capital requirement for a company limited other than 35 Baht and do not want the Thai Director to have access to your bank account, you are working when you write the check and should have a work permit.

WE strongly advocate NOT to set up a company just to get a business visa. In fact to obtain a extension of stay based on business will be impossible unless you are active and are trading. The set up costs are nominal but the on-going fees continue every month. Do so only if you are serious about investing.

wwww.sunbeltasiagroup.com

.

[Delray Tweed]

You posted 35 baht, is this correct? that is less than $1.00 US.

I would continue on the 49% owner path.

What are the "on-going fees"?

Thank you sunbelt.

[CobraSnakeNecktie]

You posted 35 baht, is this correct? that is less than $1.00 US.

I would continue on the 49% owner path.

What are the "on-going fees"?

Thank you sunbelt.

sign up to go to a university and you will save a heap load of money, actually get a visa and not feel like a fool for getting ripped off by Thai business partners.

[Maizefarmer]

Friendly advice.

Boy, you really have a long costly learning experience ahead of you.

Anything at all that you do other than holiday is going to land you in a heap of shit and lose you a ton of money.

Classic Steph, well said mate - your reply was bang on the mark and couldn't be put better.

Delray Tweed (yup - the name goes with your question quite well) - in the friendliest, lighthearted way I can reply to your question (while trying to keep a straight face) - there is a ton of info on the internet and this forum regards your question. Members could spend all day sending you links.

You really need to sit down and take a long hard look at where you are going in Thailand because I see a huge crash coming over the horizon.

For fXXXk's sake - stay well way from import/export you'll loose your shirt - c'mon round to the farm - I'll find something safe for you to do.

On a more serious note - is it just the idea of import/export you had in mind, or is there an actual product you think you have a market for - and if so, could you say what it is?

Cheers

Tim

[Crash999]

Friendly advice.

Boy, you really have a long costly learning experience ahead of you.

Anything at all that you do other than holiday is going to land you in a heap of shit and lose you a ton of money.

Some cynical replies here. Whereas one must proceed with caution, it's certainly possible to set up a business in Thailand and survive or even thrive.

[chuchok]

Friendly advice.

Boy, you really have a long costly learning experience ahead of you.

Anything at all that you do other than holiday is going to land you in a heap of shit and lose you a ton of money.

Some cynical replies here. Whereas one must proceed with caution, it's certainly possible to set up a business in Thailand and survive or even thrive.

I agree.I'm amazed on how some people are so quick to shoot somebody down without knowing any basic facts about the business.astounding really.

[Sunbelt Asia]

You posted 35 baht, is this correct? that is less than $1.00 US.

Correct. It is 7 shareholders owning one share with a par value of 5 Baht for a total of 35 Baht

I would continue on the 49% owner path

What are the "on-going fees"?

You will need to file an annual audit and half year report the second year.

Thank you sunbelt.

You are welcome.

www.sunbeltasiagroup.com

[Pilchard]

I want to open an export business and obtain a business visa?

If you as a foreigner will own 100% of the shares or at least 51% of the shares, it is 2 million Baht registered capital as the company falls under the definition of a foreign company. How much money you want to invest or what the other shareholders will invest, is up to them and you in the statutory meeting.

Sorry but I don't get the bit about the OP being able to own 100% of the shares. Are the rules for export company incorporation different from a normal Co ltd ?

Or am I miss reading the whole thing , visited with uncle jack last night and my heads still fuzzy, not to mention my tongue

thanks

[dgoz]

Friendly advice.

Boy, you really have a long costly learning experience ahead of you.

Anything at all that you do other than holiday is going to land you in a heap of shit and lose you a ton of money.

Would you care to tell us why you don't think it's a good idea.

Is it from personal experience?

Many people in farangland have tried and failed in business. It's not for everyone.

I think if you've got a business background you can be semi-successful in LOS.

[Sunbelt Asia]

Sorry but I don't get the bit about the OP being able to own 100% of the shares. Are the rules for export company incorporation different from a normal Co ltd ?

Foreigners are allowed to own and manage certain businesses 100% as a foreigner in Thailand, such as export, manufacturing or hotel management.

Or am I miss reading the whole thing , visited with uncle jack last night and my heads still fuzzy, not to mention my tongue

www.sunbeltasiagroup.com

[Pilchard]

Thanks Sunbelt,

Do you have any info on your site about this , I have been aproached by the manufacturer of a product I sell here , to set up a small assembly plant in Thailand for that product.

Any info or links would be appreciated.

So would I still need 7 parnters for incorporation , or could I own 100% and still be a Co,Ltd ?

Thanks again

[Sunbelt Asia]

Do you have any info on your site about this , I have been aproached by the manufacturer of a product I sell here , to set up a small assembly plant in Thailand for that product.

Look at the Foreign Business Act,

http://www.dbd.go.th/eng/law/fba_e1999.phtml

As you can see no restriction on most all manufacturing companies being foreign owned, with a few exceptions which is

1) Production,

(a) firearms, ammunition, gun powder, explosives.

b Accessories of firearms, ammunition, and explosives.

c Armaments, ships, air-craft or military vehicles.

d Equipment or components, all categories of war materials

4) Production of Thai musical instruments.

5) Production of goldware, silverware, nielloware, bronzeware or lacquerware.

(6) Production of crockery of Thai arts and culture.

(1) Manufacturing sugar from sugarcane;

Lists Attached to the Foreign Business Act B.E. 2542 (1999)

--------------------------------------------------------------------------------

LIST ONE

The businesses not permitted for foreigners to operate due to special reasons:

(1) Newspaper business, radio broadcasting or television station business.

(2) Rice farming, farming or gardening.

(3) Animal farming.

(4) Forestry and wood fabrication from natural forest.

(5) Fishery for marine animals in Thai waters and within Thailand specific economic zones.

(6) Extraction of Thai herbs.

(7) Trading and auctioning Thai antiques or national historical objects.

(8) Making or casting Buddha images and monk alms bowls.

(9) Land trading.

LIST TWO

The businesses related to the national safety or security or affecting arts and culture, tradition, folk handicraft or natural resource and environment.

Group 1: The businesses related to the national safety or security

(1) Production, selling, repairing and maintenance of:

a firearms, ammunition, gun powder, explosives.

b Accessories of firearms, ammunition, and explosives.

c Armaments, ships, air-craft or military vehicles.

(d) Equipment or components, all categories of war materials.

(2) Domestic land, waterway or air transportation, including domestic airline business.

Group 2: The businesses affecting arts and culture traditional and folk handicraft:

(1) Trading antiques or art objects being Thai arts and handicraft.

(2) Production of carved wood.

(3) Silkworm farming, production of Thai silk yarn, weaving Thai silk or Thai silk pattern printing.

(4) Production of Thai musical instruments.

(5) Production of goldware, silverware, nielloware, bronzeware or lacquerware.

(6) Production of crockery of Thai arts and culture.

Group 3: The businesses affecting natural resources or environment:

(1) Manufacturing sugar from sugarcane;

(2) Salt farming, including underground salt;

(3) Rock salt mining;

(4) Mining, including rock blasting or crushing;

(5) Wood fabrication for furniture and utensil production.

LIST THREE

The business which Thai nationals are not yet ready to compete with foreigners:

(1) Rice milling and flour production from rice and farm produce.

(2) Fishery, specifically marine animal cultures.

(3) Forestry from forestation.

(4) Production of plywood, veneer board, chipboard or hardboard.

(5) Production of lime.

(6) Accounting service business.

(7) Legal service business.

(8) Architecture service business.

(9) Engineering service business.

(10) Construction, except for:

a Construction rendering basic services to the public in public utilities or transport requiring special tools, machinery, technology or construction expertise having the foreigners' minimum capital of 500 million Baht or more.

b Other categories of construction as prescribed by the ministerial regulations.

(11) Broker or agent business, except:

(a) Being broken or agent for underwriting securities or services connected with future trading of commodities or financing instruments or securities.

b Being broker or agent for trading or procuring goods or services necessary for production or rendering services amongst affiliated enterprises.

c Being broker or agent for trading, purchasing or distributing or seeking both domestic and foreign markets for selling domestically manufactured or imported goods in the manner of international business operations having the foreigners' minimum capital 100 million Baht or more.

(d) Being broker or agent of other category as prescribed by the ministerial regulations.

(12) Auction, except:

(a) Auction in the manner of international bidding not being the auction of antiques, historical artifacts or art objects which are Thai works of arts, handicraft or antiques or having the historical value.

b Other categories of auction as prescribed by the ministerial regulations.

(13) Internal trade connected with native products or produce not yet prohibited by law.

(14) Retailing all categories of goods having the total minimum capital less than 100 million Baht or having the minimum capital of each shop less than 20 million Baht.

(15) Wholesaling all categories of goods having minimum capital of each shop less than 100 million Baht.

(16) Advertising business.

(17) Hotel business, except for hotel management service.

(18) Guided tour.

(19) Selling food or beverages.

(20) Plant cultivation and propagation business.

(21) Other categories of service business except that prescribed in the ministerial regulations.

So would I still need 7 parnters for incorporation , or could I own 100% and still be a Co,Ltd ?

You have to have 7 shareholders but you could have 399,994 shares, the other six shareholders could have one share worth par value of 5 Baht.

www.sunbeltasiagroup.com