Company Objective And Wp Description

[travelbucho]

Hello you!

Hope my greeting didn’t offend any one yet, cause I’m in the process of setting up my own business and am about to ask for some help regarding a few topics.

My situation is as following: with a Thai person, I opened a (unregistered) retail business a couple of years ago. It started small, my Thai partner did the shop front work, I made some advertising in the back, nothing was ever registered as is often the case for small Thai businesses. Now we know our idea works well and if we open some more outlets, than there will be enough income to make everything legal, as in set up a company ltd and pay the annual expenses like taxes, accountant etc. (and still have sufficient for us). This was going to happen naturally, but with the new visa regulations etc, it might be better to get things moving a bit faster.

The work I intend to do for my retail business will be marketing, advertising and setting up more outlets around south Thailand etc.

The second part of my situation is that I plan to work as a freelance dive instructor, on the island where I live. Since the dive shops will never be able to give all their staff work permits, I reckon it’s better to get my own and be independent.

My questions

1.company objective: A company can be allowed to do various business activities. A WP is usually more specific in activities and location. I read people getting a WP as a marketing consultant which basically would allow them to be doing anything anywhere, but then I also read about cutbacks on ‘consultant’ WP’s. I am a bit puzzled as in how to formulate this, set this up for my situation. How to make this as general as possible so that the company can do the things we want to do now (retail and sending out a freelance multilingual dive instructor) and later other activities such as buy and develop a piece of property, go into export etc.?

2. From what I understand I will be the managing director in the company and get my WP through that status. Is that a guarantee that I can get it that way, or you still need to show qualifications like a marketing degree etc. Do I still need to define what exactly I will be doing or can the MD engage in most activities. Would it be recommended to make my WP more specific for diving or not? How about if I want to go about and not stay in one province? Say if I’m working on a live aboard boat cruising the Andaman, I’ll be working in Satun, Trang, Krabi, Pha Nga, Phuket and Ranong? possible?

3. How does it work if my company is registered here in Krabi, but I want to open outlets a) in the same province outside Krabi province? Do I need to set up sub offices for that? am I best to do this from the beginning, or not? What does it involve?

4. How about my share in this company. Go for 39 or 49% of the shares these days? with preference shares I can always have control, but in case I own 49%, the company can’t buy a piece of land, right?

5. I reckon I should open a bank account first here, and transfer some money to get the ball rolling. That’s when I start needing those TT3 papers, correct? And the bank issues them?

Ok, that’s it for me. looking forward to any advice,

kind regards

[Sunbelt Asia]

My situation is as following: with a Thai person, I opened a (unregistered) retail business a couple of years ago. It started small, my Thai partner did the shop front work, I made some advertising in the back, nothing was ever registered as is often the case for small Thai businesses. Now we know our idea works well and if we open some more outlets, than there will be enough income to make everything legal, as in set up a company ltd and pay the annual expenses like taxes, accountant etc. (and still have sufficient for us). This was going to happen naturally, but with the new visa regulations etc, it might be better to get things moving a bit faster.

The work I intend to do for my retail business will be marketing, advertising and setting up more outlets around south Thailand etc.

The second part of my situation is that I plan to work as a freelance dive instructor, on the island where I live. Since the dive shops will never be able to give all their staff work permits, I reckon it’s better to get my own and be independent.

My questions

1.company objective: A company can be allowed to do various business activities. A WP is usually more specific in activities and location.

The wp can be for the province if you add this to the Wp. ( Its a second step required after getting the wp) You can be the MD.

I read people getting a WP as a marketing consultant which basically would allow them to be doing anything anywhere, but then I also read about cutbacks on ‘consultant’ WP’s.

Misinformation. You can be a consultant but this does not allow you to work anywhere. Only by applying to work anywhere in the Province allows this, not your job title. Simply be the MD.

I am a bit puzzled as in how to formulate this, set this up for my situation. How to make this as general as possible so that the company can do the things we want to do now (retail and sending out a freelance multilingual dive instructor) and later other activities such as buy and develop a piece of property, go into export etc.?

You put all the objectives you want.

2. From what I understand I will be the managing director in the company and get my WP through that status. Is that a guarantee that I can get it that way, or you still need to show qualifications like a marketing degree etc.

Nothing is guaranteed, even though we have never had a rejection. You do not need an marketing degree

Do I still need to define what exactly I will be doing or can the MD engage in most activities. Would it be recommended to make my WP more specific for diving or not? How about if I want to go about and not stay in one province? Say if I’m working on a live aboard boat cruising the Andaman, I’ll be working in Satun, Trang, Krabi, Pha Nga, Phuket and Ranong? possible?

You as the MD can engage in activities listed on your WP. Your wp is only valid for that province

3. How does it work if my company is registered here in Krabi, but I want to open outlets a) in the same province outside Krabi province? Do I need to set up sub offices for that? am I best to do this from the beginning, or not? What does it involve?

Each branch office is registered as you open them.

4. How about my share in this company. Go for 39 or 49% of the shares these days? with preference shares I can always have control, but in case I own 49%, the company can’t buy a piece of land, right?

With some land offices even if you own one share, the comnpany may not own land. Just depends. Its not the % these days, of it being 39% or 49%. Its how real the Thai partners are and did they invest their money, when it comes to land.

5. I reckon I should open a bank account first here, and transfer some money to get the ball rolling. That’s when I start needing those TT3 papers, correct? And the bank issues them?

Not required. You open a coporate bank account after the company is formed. However, if you are sending money to buy shares in the company. You can get the Foreign Exchange Certificate but most banks do not require it if you are sending funds back overseas.

www.sunbeltasiagroup.com

[travelbucho]

alright, cheers for that, Sunbelt.