Annual Cost And Risk For A Company Without Real Business

[scalper]

I am under 50 with my wife ( non thai) 2 childrens 3 and 1 living in Phuket.

Dont need to work ( i am writter) .

I was wondering if there was a possibility to set up a business without turn over ( paying everything and all the taxes of course):

Consultant ? I can work through internet and pay invoices to an abroad company ( belonging to me). In this case do i have to employ thai citizens ? and how many? i can salary my maid for exemple and it is already one.

What is the cost of this solution in terms of starting fees and yearly fees.?

Are there verifications ? on what? can i do business only offshore being in thailande?

I know it can look weird but thai laws looks weird sometimes.

Doing that i pay taxes so participate in thai economy ( and of course i spend a lot here)

[scalper]

i mean receive payments from of shore company not pay invoices so that i can have a small turn over covering my expenses

[El Taco Loco]

It helps to know where you are from.

Anyway, for UK and US citizens and others (do not have a country list) you can get either a notarized statement of your income from overseas. Apply for for a marriage non o visa. No need to set up a company.

Sunbelt and other veterans here can guide you further.

Barring that, you can deposit your income monthly and pay taxes on it every 3 months, if you want to stay here as a company.

[scalper]

I am french .

My wife is not thai.

I am under 50 so whatever ly income i cannot stay here more than 90 days each 180 days . I am not sure having 60+30 visa tourists will be possible endless

My B expires in 10 months so i have time to find a solution.

If for exemple i can set up a small company like being consultant , i can handle to pay annual taxes for that .

My inquire is on the annual cost and the risks taken

[monty]

I think setting up company just for the sake of getting a workpermit and 1 year visa is getting difficult.

I know of several persons having an actively working company, but due to not showing a healthy profit on the books they were refused a second 1 year extension.

One company did not declare losses but break even, with all the social taxes and personal income taxes of all employees correctly payed over the year.

Immigration was not interested in incoming funds from abroad...

One company's activities consist of importing and distributing chemicals from Europe, and the main reasons of not being able to show profit was the huge delays (several months) caused mainly by the corrupt customs department not clearing the goods...

Even worse, the foreign manager/owner went to immigration on the last day of his allowed stay in Thailand, thinking the extension would just be a formality, followed by a trip to the labour department to get the workpermit in sync again with the new extension.

He was refused the extension, and given until midnight the same day to leave the country . Not even a 7 day extension to give time to get everything sorted!

We are not talking about some entertainment or other shady business, but a serious import business of high tech chemicals, owned and ran by a very highly skilled and educated executive of advanced age!

Even the tax law gives any new company a couple of years to build up business and get the numbers out of the red.

Immigration seemingly requires you to start up and wham bam start declaring big profits and pay taxes on them...

P.S. immigration office involved is Jomtien (Pattaya)

[smartecosse]

if the extension is refused is it a case of going back to non b's??

[Amdesign]

How much company profit is 'enough' to get non-b extension for next year? Any idea?

[Sunbelt Asia]

How much company profit is 'enough' to get non-b extension for next year? Any idea?

The income has to be higher than the expense to pay the foreigners in the Company, for the following year.

Also must have net equity of one million Baht.

If you don't meet the criteria, you get a one year multi entry visa at a Embasssy/Consulate and just revalidate your work permit every 90 days.

www.sunbeltasiagroup.com

[cclub75]

P.S. immigration office involved is Jomtien (Pattaya)

Incredible story !

I thought Immigration in Pattaya was one of the most "farang friendly" or "farang understanding" ?

I start to wonder that the best solution would be to apply official documents... somewhere up country. Where a farang is still an "objet of sweet curiosity", where officers are still sabai, etc.

[h5n1]

if i had a family i would go to singapore - that is a family place an dthey will welcome you with open arms, speak english, non corrupt, ez visas, good schools....

i agree setting up a business for what? your income comes abroad and you have nothing to write off assuming this can even be done in thailand (cap gains, equip deprec...)

[scalper]

I was thinking of Singapor in case i dont find a solution to stay here .

I went there 4 weeks ago, nice place but in 1 week i could not see the sky 10 minutes because of the smoke ( forests fire in indonesia ).

Before that i spent several years in the caribbean but on small islands so i need more space now.

It is hard to understand that i canot find a way to stay here legally.

I was enough lucky to be retired young so dont need to work here.

I am spending at least 200Kbath a month , renting a house, a car a motorbike, paying a maid .

So spending a lot for the benefit of the countrty , willing to invest around 20mios bath in a house.

My non im B finishing July 2007, perhaps with a new government news laws will change on visa rules?

Singapore not a bad idea if the smoke goes out

[Mobi]

How much company profit is 'enough' to get non-b extension for next year? Any idea?

The income has to be higher than the expense to pay the foreigners in the Company, for the following year.

Also must have net equity of one million Baht.

If you don't meet the criteria, you get a one year multi entry visa at a Embasssy/Consulate and just revalidate your work permit every 90 days.

www.sunbeltasiagroup.com

Monty's story is quite frightening, and Sunbelt's explanation illuminating.

One of the never ending stories here is that it's very difficult to know all the rules, and the last people who are going to tell you are the folks at immigration. Increasingly, it would seem they are just waiting to catch out those who are unaware.

The moral of the story, is to check, check and recheck all these changing rules from whatever sources are at your disposal, don't believe what you are told in a bar, and don't wait for the last day to get your renewals sorted, and last but not least, be prepared at all times to spend an extended period out of Thailand, and ensure your affairs and access to funds can accommodate this.

Times are a-changing folks.

[Fun2Fun]

I was thinking of Singapor in case i dont find a solution to stay here .

I went there 4 weeks ago, nice place but in 1 week i could not see the sky 10 minutes because of the smoke ( forests fire in indonesia ).

Before that i spent several years in the caribbean but on small islands so i need more space now.

It is hard to understand that i canot find a way to stay here legally.

I was enough lucky to be retired young so dont need to work here.

I am spending at least 200Kbath a month , renting a house, a car a motorbike, paying a maid .

So spending a lot for the benefit of the countrty , willing to invest around 20mios bath in a house.

My non im B finishing July 2007, perhaps with a new government news laws will change on visa rules?

Singapore not a bad idea if the smoke goes out

What about getting the Thai Elite card, 1 million bath and you have a 5 year renewable visa....

Edited November 26, 2006 by Fun2Fun

[Nam Kao]

>>if i had a family i would go to singapore - that is a family place an dthey will welcome you with open arms, speak english, non corrupt, ez visas, good schools....

But no TGs

[scalper]

I thought Thai elite card was about to stop?

[h5n1]

do you forever want to go begging from thai authorities for 'privilege' of staying in the third world country with no government every six or twelve mos?

make no mistake, every year will be more hassles and each visit will be unique with its own issues. i honestly dont know why anyone bothered - and that was BEFORE all this visa nonsense broke out.

[smartecosse]

maybe cos we like it here ??

[fleming]

I have the same issue.

French less than 50, non-Thai wife with 2 children. I set up company here for purpose of visa (and land purchase). I am the director of the company and pay taxes on a monthly virtual salary of 50,000 Baht. I hardly got 10 months extension after having obtained 2 successive 1 month extension. I don't need to work as salaryman here. I came here to find a family base to relax after leaving the 'rat race', eventually build house, make a photo book,...

My lawyer told me it would be difficult to get extension next year under these condition. So I am planning to make the company paying taxes too.

My wife and 2 children are with my visa so far but they could get one year visa as students and my wife as guardian (I heard French Lycee is sponsoring such visa).

The problem still remains for me. That's quite time consumming, money consumming and as a result an stress carrying whilst we came here to find peace ... too bad. One the other hand, I feel many people like to keep this climate of fears in order to keep ... consulting and law a growing and profitable business, sometimes I can smell that in some answer in those forum too.

So scalper, if you find a good solution, let me know! et fais passer!

[fleming]

Since we are not married to thai, too 'young' to apply the retirement visa, and since the 3 mios bahts investment visa doesnt exist anymore...

either running a reasonnably profitable company of which cost:

- set up around 25,000 b,

- accounting 25,000b/year,

- personal inc taxes 6-50,000b/year,

- corporate tax another 6-50,000b / year,

- renew visa and work permit 25,000 (inc lawyer fee as intermediary)/year

so I assume 150-200,000 baht per year would do with always the risk of being scrutinized, pay some extra. My short experience here taught me how easy things can get horribly complicated and bad here and how thai people can sometime suddenly arrange everything

the other solution would be the 5 years - 1mio bath Elite card... actually almost same cost (if you dont need the company). the disavantage, if I understand well is that you have to leave the country every 3 month to renew the 90 days visa at any consulate...

I also heard there is a 3 years non-Immigrant B visa recently issued. Roll period of 3 month. You still need a company to invite.

Edited November 28, 2006 by fleming

[Briggsy]

Agreed, about 150,000 Baht per year. Expect some surprises. Very feasible though.

[The Coder]

the other solution would be the 5 years - 1mio bath Elite card... actually almost same cost (if you dont need the company). the disavantage, if I understand well is that you have to leave the country every 3 month to renew the 90 days visa at any consulate...

Actually, the elite card can be extended every 3 months *inside* Thailand for 1900 baht (just as easy as extending a tourist visa) which can be repeated up to 5 years at which time you must do a border run to get a 5 year refresh.

The Elite card however is a bit of a gamble at the moment. The new government recently announced it is scrutinizing it and their verdict should be reached in 1-2 months. It's kind of a pickle right now. Do you wait to buy only to find the verdict is it closed to new members but existing members are ok? Do you get in now only to find the verdict is the program is being phased out and lose your 1 mil? It's a tough call what to do as either way you stand to lose out.

[Geppis72]

Since we are not married to thai, too 'young' to apply the retirement visa, and since the 3 mios bahts investment visa doesnt exist anymore...

either running a reasonnably profitable company of which cost:

- set up around 25,000 b,

- accounting 25,000b/year,

- personal inc taxes 6-50,000b/year,

- corporate tax another 6-50,000b / year,

- renew visa and work permit 25,000 (inc lawyer fee as intermediary)/year

so I assume 150-200,000 baht per year would do with always the risk of being scrutinized, pay some extra. My short experience here taught me how easy things can get horribly complicated and bad here and how thai people can sometime suddenly arrange everything

the other solution would be the 5 years - 1mio bath Elite card... actually almost same cost (if you dont need the company). the disavantage, if I understand well is that you have to leave the country every 3 month to renew the 90 days visa at any consulate...

I also heard there is a 3 years non-Immigrant B visa recently issued. Roll period of 3 month. You still need a company to invite.

3 year non Imm B, here you have it, hopefully I did attached the docs correctly in my post.

Looks like a sort of pool of EU/USA under 50, married with non Thai lady, is just born in TV,

may I join it ?

Lots of people are under in the same circumstances....

I really start to think that something is behind all this Visa and Ownership sakes... but yet to come.

Will be better then now for sure, how I know this ? Simple, worst then now it could not be !

Thai Govt. could make things really easier and make good money out of this

situation too, (by law and not to forcing people do illegal things)

if one of their goals is financial stable long stay people just put a fair price for

Visa 100.000 bath for 3 year for example with proof of income or proof

of money in the bank that's all. Or just extend the "O" type visa to everybody

who can afford the life in LOS.

Land ownership ? Thay just need to clear up the whole mess done in the past years

with simple rules, for Eg., your are allowed to own land till half rai - you can buy in this

area but not in this one, etc etc.

We have a motto in Italy when a simple issues could be fixed clearly but

people do not want clarify in purpose because it can be turn as they like when they like,

I do not know if is the same concept once translated in Eng. :

In dirty water, you catch more fish .

Cheers