Opening a company in Thailand, get a long-term visa, be 100% owner, Tax-free for 8 years

[alexlm]

Hello,

I heard that it is or will be possible for a foreigner to open a company in Thailand with:

- 100% ownership by the foreigner

- Possibility to get a "long-term" visa instead of playing with Tourists visas or buy the elite one.

- Get a work permit

- Tax-free for 8 years (tax holidays).

Has anyone heard of that?

[FireMedic]

Dude you will get dragged through the ringer...... No, I haven't heard of that.

[chowny77]

Unless you have a lot of cash and is not afraid to lose it all, go ahead, if not back away. I would never set a business here in Thailand. If you make no money you lose, if you are successful believe me you will lose as I am sure there is a Thai person willing to say you stole their business/idea/livelihood and the cops will be all over you. It is a sad case of affairs but in Thailand, non-Thai's will very rarely walk away with what they put into a business here. Thailand is for only the Thai's to get rich.

[alexlm]

This new technique could be used by online freelancers. So what do they have to lose?

[Lannig]

I'm no expert in this domain so bear with me. Just some information collected from people I know who've been into this kind of things.

Yes, I think you can have a 100% foreign-owned business in Thailand, but only in selected type of businesses and it's quite a hassle. Most people opt for 51% thai / 49% foreign with foreign director.

If you match the requirements in company capital (2M bahts I think) and number of Thai employees (nor sure how many) you will get a long-term visa.

Never heard of a tax holiday maybe unless you comply to specific requirements of the BOI (location, type of business)

I've found these links using Google, FWIW:

http://wls-legal.com/corporate/thai-company-limited/

http://wls-legal.com/corporate/100-foreign-ownership-company/

EDIT : I suspect that the OP knew these "regular" conditions already. Oh well, the electrons are wasted already...

Edited March 24, 2016 by Lannig

[mcfish]

Unless you have a lot of cash and is not afraid to lose it all, go ahead, if not back away. I would never set a business here in Thailand. If you make no money you lose, if you are successful believe me you will lose as I am sure there is a Thai person willing to say you stole their business/idea/livelihood and the cops will be all over you. It is a sad case of affairs but in Thailand, non-Thai's will very rarely walk away with what they put into a business here. Thailand is for only the Thai's to get rich.

Total rubbish and you didn't answer even one of of his questions because you have no idea.

[fireplay]

Could you explain the details of what you are talking about Alex?

[alexlm]

Could you explain the details of what you are talking about Alex?

I'll get more details in the next few days or weeks.

I'll keep you posted about that.

It comes from a source that I trust 100%, following this source for 4 years already...

I'll keep you posted.

[Satcommlee]

BOI privileges, but they watch you like a hawk.. you must stick to business plan etc. There are 3 zones with different privileges and limited types of businesses it has been common amongst software developers who I have seen receive BOI privileges with as little as 1M baht capital. Also fast track immigration at the chamjuree square immigration office.

[fey]

is it simply a shill company with just license fees, no employees and no investment? then i may be interested.

[Lammbock]

What are the Benefits of a Thailand BOI Company?

• Permission to have up to %100 foreign ownership

Possible to pay 0% tax for up to the first 8 years (depending on location and category)

Get Work Permits to bring in skilled foreign workers

Exemption of VAT for importing machinery

Possible to get an additional 3 years of tax exemption if supporting a research and development institution

[Pib]

Lots of info at the BOI website...look under the Investment Promotion link. Tidbits of info like below snapshot for BOI Investment Promotions...so many possible variations of investment possibilities...devil in the details so to speak.

[smutcakes]

BOI privileges, but they watch you like a hawk.. you must stick to business plan etc. There are 3 zones with different privileges and limited types of businesses it has been common amongst software developers who I have seen receive BOI privileges with as little as 1M baht capital. Also fast track immigration at the chamjuree square immigration office.

The zonal privileges were chucked in the bin and it is now done on type of industry.