Registering a business for rental management.

[coulson]

I want to ask if anyone has considered starting a company for management of their rental properties here, rathet than going through a third party.

This isn't just to save money on going through legit third parties, or to make money for that matter, but an option that just might produce other benfits. The missus & family are always great at helping out with renovations etc. and i myself like to do my own joinery but don't want to lift a finger while on a tourist exempt. I alsp don't want to accept cash rents under the radar. Just looking for legit options.

1 - could a majority share foreigner provide themselves with a work permit within their own company?

2 - do you have to actually provide salaries for all Thai partners?

3 - Am I just plain insane.....?

Any experiences would be appreciated and i look forward to the troll comments equally.

[Gsxrnz]

Why do you want to pay tax?

[coulson]

Why do you want to pay tax?

I could take rent under tha radar but under the current climate would prefer to investigate the possibility of doing it by the book.....without giving money to a third party.

Moreso, I want to be able to work without the chance of getting thrown out.

[tolsti]

Do you have any in Pattaya?

[coulson]

Do you have any in Pattaya?

Wouldn't spend someone elses money on a condo in pattaya

[tolsti]

ah well.... never mind. Good luck.

[KittenKong]

This isn't just to save money on going through legit third parties, or to make money for that matter, but an option that just might produce other benfits. The missus & family are always great at helping out with renovations etc. and i myself like to do my own joinery but don't want to lift a finger while on a tourist exempt. I alsp don't want to accept cash rents under the radar. Just looking for legit options.

1 - could a majority share foreigner provide themselves with a work permit within their own company?

Yes. As far as I know you would need 4 Thai employees (paid, with social security contributions) for each work permit. I doubt that you would get a work permit to do joinery or anything else physical.

2 - do you have to actually provide salaries for all Thai partners?

Partners? No. You need four staff salaries for each farang work permit. Your partners can be paid staff also, if you/they want.

3 - Am I just plain insane.....?

Dunno. Personally I think that anyone who gets involved with a business in Thailand or with business partners here or with Thai staff must be completely mental, but that's just my opinion. So much easier, safer and more rewarding to invest elsewhere. So much less work too. Business in Thailand just seems to be a constant round of hassle, but maybe some people like that.

[coulson]

Yes. As far as I know you would need 4 Thai employees (paid, with social security contributions) for each work permit. I doubt that you would get a work permit to do joinery or anything else physical.

Dunno. Personally I think that anyone who gets involved with a business in Thailand or with business partners here or with Thai staff must be completely mental, but that's just my opinion. So much easier, safer and more rewarding to invest elsewhere. So much less work too. Business in Thailand just seems to be a constant round of hassle, but maybe some people like that.

Sums it up really, and i generally agree that too much wasted time and effort is required.

I don't have any intention of making any business that would be profitable, just would like the management fees to go to the ones who actually help with the real work when i get renovations done.

As far as a farang lifting a finger, I thought maybe as a company major shareholder you could do such associated work required to operate the business. And yes i meant the partners would technically be *employees* to make up the numbers.

Side question, is a teacher on a work permit allowed to fix their broken kitchen sink or clean their clogged gutters? Are foreigners that restricted?

Interested to hear any other experiences.

Edited February 17, 2016 by coulson

[KittenKong]

As far as a farang lifting a finger, I thought maybe as a company major shareholder you could do such associated work required to operate the business. And yes i meant the partners would technically be *employees* to make up the numbers.

Side question, is a teacher on a work permit allowed to fix their broken kitchen sink or clean their clogged gutters? Are foreigners that restricted?

Your work permit should specify the task that you are employed to do and it should be something that a Thai cant do and that doesnt appear on a specific list of prohibited jobs. In your case I imagine that you would be described as a rental manager or international sales rep or something. This precludes you from doing other tasks related to your business, like decorating etc. or even the accounts. A director in theory is restricted to providing direction ie saying what he wants to happen, and how, which is not really work any more than telling a waitress that you want a beer is work.

I doubt that a teacher with a WP would have trouble with unblocking his drains but technically he has no more right to do it than some farang with no WP at all. We are all supposed to employ Thais to do this sort of thing. Of course in practice it is more or less impossible to prove that anyone did it themselves, nor would anyone be likely to be concerned, except perhaps the local Thai drain man/painter who might be in a bad mood and might denounce you.

I do my own condo decoration myself, and my plumbing jobs, but when my front door is closed no one has a clue what I am doing inside anyway. I would perhaps be more wary if the jobs I was doing involved a lot of drilling or hammering, or coming and going of equipment or building materials or rubble. And of course doing it in more than one condo would be a bit of a giveaway.

[coulson]

ah well.... never mind. Good luck.

Didn't mean that in a bad way. I just don't live in Pattaya so it wouldn't make sense for me. I have bought and would only ever buy in the same neighbourhood that I live as it's much easier to manage that way.