Neal In Thailand Posted May 21, 2017 Share Posted May 21, 2017 3 minutes ago, ericthai said: That's what we did and had no issues. Don't know what type of business you are opening but consider how much paid up capital you need/want. After a few years we increased our paid up capital and the cost was much higher than originally. Also your Thai partner may need to show they had the funds for their minimum 51%, as it cant all come from you legally. Im upstarting an information company, I will have 6 Thai employees, educated college grads doing computer work updating directories in the United States. I'm in the early stages of set up. I have a good relationship with the publishing company, worked with them for 5 years now. I'm excited to get things going!! I can make my exit from the western world in the next 24 months. I have a very good friend Ive known now in Thailand for over 5 years, she works for the Thai Government , has a masters degree, she will be involved with the whole 51% share ownership nightmare!! lol I will be renting office space and the company assets will consist of office equipment and computers that's it! Link to comment Share on other sites More sharing options...
ericthai Posted May 21, 2017 Share Posted May 21, 2017 Just now, Neal In Thailand said: Im upstarting an information company, I will have 6 Thai employees, educated college grads doing computer work updating directories in the United States. I'm in the early stages of set up. I have a good relationship with the publishing company, worked with them for 5 years now. I'm excited to get things going!! I can make my exit from the western world in the next 24 months. I have a very good friend Ive known now in Thailand for over 5 years, she works for the Thai Government , has a masters degree, she will be involved with the whole 51% share ownership nightmare!! lol I will be renting office space and the company assets will consist of office equipment and computers that's it! Glad to hear you have a good plan. Allot of guys want to live in Thailand and open companies when they have no experience, such as a bar. Most fail. Not sure if you will qualify for BOI. We qualified because of the location of our factory and the market we were in. Your Thai friend should be able to do all the paper work to get a company opened and registered for you, especially since she works for the government. Govt employees tend to help each other out. Wish you all the best!! Link to comment Share on other sites More sharing options...
Neal In Thailand Posted May 21, 2017 Share Posted May 21, 2017 2 minutes ago, ericthai said: Glad to hear you have a good plan. Allot of guys want to live in Thailand and open companies when they have no experience, such as a bar. Most fail. Not sure if you will qualify for BOI. We qualified because of the location of our factory and the market we were in. Your Thai friend should be able to do all the paper work to get a company opened and registered for you, especially since she works for the government. Govt employees tend to help each other out. Wish you all the best!! Yes, I don't think this would qualify for BOI, but you did raise one question that worries me. You say that my Thai partner must have her portion of the money legally, that could pose a problem as I don't believe she does have that kind of money. The first law firm I talked to didn't mention that as a problem but then again my communication with them was not all that great. I believe I have finally found a good law firm to guide me and we are in early stages of communication. That could be the smoking gun here that I didn't want to pop up. How would I get around that? If I pay here the cash and she puts it in here bank account, then contributes it back as a shareholder? That seems like it would work from a legal standpoint..?? Link to comment Share on other sites More sharing options...
ericthai Posted May 21, 2017 Share Posted May 21, 2017 Just now, Neal In Thailand said: Yes, I don't think this would qualify for BOI, but you did raise one question that worries me. You say that my Thai partner must have her portion of the money legally, that could pose a problem as I don't believe she does have that kind of money. The first law firm I talked to didn't mention that as a problem but then again my communication with them was not all that great. I believe I have finally found a good law firm to guide me and we are in early stages of communication. That could be the smoking gun here that I didn't want to pop up. How would I get around that? If I pay here the cash and she puts it in here bank account, then contributes it back as a shareholder? That seems like it would work from a legal standpoint..?? Her working for the government I'm sure can overcome this as I dont think they will check . As you will learn each office interprets rules differently so what one might require or dont require the next one might be the opposite. However with her working for the government things should go smooth. You Thai friend should be able to do this without the need for a lawyer. I know one guy paid 95K baht to a lawyer to open a company. When we opened out company my Thai friend did everything it was less than 25K baht. Have your Thai friend make some calls. Link to comment Share on other sites More sharing options...
Neal In Thailand Posted May 21, 2017 Share Posted May 21, 2017 4 minutes ago, ericthai said: Her working for the government I'm sure can overcome this as I dont think they will check . As you will learn each office interprets rules differently so what one might require or dont require the next one might be the opposite. However with her working for the government things should go smooth. You Thai friend should be able to do this without the need for a lawyer. I know one guy paid 95K baht to a lawyer to open a company. When we opened out company my Thai friend did everything it was less than 25K baht. Have your Thai friend make some calls. Yes, she has worked for them for 10 years, I was shocked when she told me her salary was 60,000 baht a month, that blew me away, that's pretty darn good. I feel like having a good law firm would be the best way to go as of now. The firm I'm just now starting to deal with can even assist me in hiring qualified workers. Having qualified workers is the KEY, to this upstart. I get paid per listing we update, so they need to be proficient, with computer and have good English skills, my Thai partner seems to think that's NO PROBLEM , but I will have to see that to believe it at this point. If in fact shes correct and that's not a problem, I can upscale this to 12 employees pretty easy. What are your thoughts on qualified college grads? I plan to start them out on a three month trial at 16,000 baht , if they do good I will have an immediate pay raise guaranteed to 23,000 baht and go up from there...any thoughts on that would be of much help? Link to comment Share on other sites More sharing options...
Rc2702 Posted May 21, 2017 Share Posted May 21, 2017 33 minutes ago, Neal In Thailand said: Im upstarting an information company, I will have 6 Thai employees, educated college grads doing computer work updating directories in the United States. I'm in the early stages of set up. I have a good relationship with the publishing company, worked with them for 5 years now. I'm excited to get things going!! I can make my exit from the western world in the next 24 months. I have a very good friend Ive known now in Thailand for over 5 years, she works for the Thai Government , has a masters degree, she will be involved with the whole 51% share ownership nightmare!! lol I will be renting office space and the company assets will consist of office equipment and computers that's it! Sounds pretty 1990s I mean if it's just updating data via the Internet the costs of offices and computers is a burden you may not need if you can identify the correct individuals to launch from the outset. Link to comment Share on other sites More sharing options...
ericthai Posted May 21, 2017 Share Posted May 21, 2017 Just now, Neal In Thailand said: Yes, she has worked for them for 10 years, I was shocked when she told me her salary was 60,000 baht a month, that blew me away, that's pretty darn good. I feel like having a good law firm would be the best way to go as of now. The firm I'm just now starting to deal with can even assist me in hiring qualified workers. Having qualified workers is the KEY, to this upstart. I get paid per listing we update, so they need to be proficient, with computer and have good English skills, my Thai partner seems to think that's NO PROBLEM , but I will have to see that to believe it at this point. If in fact shes correct and that's not a problem, I can upscale this to 12 employees pretty easy. What are your thoughts on qualified college grads? I plan to start them out on a three month trial at 16,000 baht , if they do good I will have an immediate pay raise guaranteed to 23,000 baht and go up from there...any thoughts on that would be of much help? I'm not familiar with Tech guys pay rates. We had a factory and was paying 320 a day, our accountant was getting 21K Getting good workers is not easy, but can be found. My one friend his wife used to make 80K a month back in 2002 but she spoke Excellent English and French and of course Thai. I find allot of Thais and can speak English but reading and comprehension is another story. As for lawyers be careful allot of them promise the world and then do nothing or not close to what they promise, Typical Thailand. I had a good friend hire a lawyer paid a retainer of 150,000B and then was never able to get a hold of the lawyer again. Link to comment Share on other sites More sharing options...
Neal In Thailand Posted May 21, 2017 Share Posted May 21, 2017 3 minutes ago, Rc2702 said: Sounds pretty 1990s I mean if it's just updating data via the Internet the costs of offices and computers is a burden you may not need if you can identify the correct individuals to launch from the outset. No idea what 1990s means. I want to be in office and with the scope of the work, I need to be in office. We pay large amounts of money to outsource this here in the United States, I can have a nice little business in Thailand, where I want to be, and make a very nice profit. 1 Link to comment Share on other sites More sharing options...
Neal In Thailand Posted May 21, 2017 Share Posted May 21, 2017 6 minutes ago, ericthai said: I'm not familiar with Tech guys pay rates. We had a factory and was paying 320 a day, our accountant was getting 21K Getting good workers is not easy, but can be found. My one friend his wife used to make 80K a month back in 2002 but she spoke Excellent English and French and of course Thai. I find allot of Thais and can speak English but reading and comprehension is another story. As for lawyers be careful allot of them promise the world and then do nothing or not close to what they promise, Typical Thailand. I had a good friend hire a lawyer paid a retainer of 150,000B and then was never able to get a hold of the lawyer again. Thanks for the heads up. The computer work is pretty basic. They will be updating names and address. If the resident is no longer there, they use two search sites to identify who is now living there, they input that new information into an oracle data base. In the end that will be the key, qualified workers. I will be contacting some employment firms when Im on the ground in Thailand and actually showing them the scope of the work. If that's not a problem then Im good to go. I will also be meeting with this law firm in person before I move ahead as well. I'm not rushing this, want to take my time and make sure everything is pretty tight! 1 Link to comment Share on other sites More sharing options...
JerryinTH Posted May 22, 2017 Share Posted May 22, 2017 On 1/3/2017 at 10:21 AM, phuket88 said: Dont forget the 50,000 minimum salary for a Farang. That would be an english teachers wet dream... or a good night out for others. 1 Link to comment Share on other sites More sharing options...
khunPer Posted May 22, 2017 Share Posted May 22, 2017 9 minutes ago, JerryinTH said: On 1/3/2017 at 4:21 AM, phuket88 said: Dont forget the 50,000 minimum salary for a Farang. That would be an english teachers wet dream... or a good night out for others There are no special "minimum salaries for farangs" – however to apply for non-immigrant visa extensions for employment in Thailand, the Immigration require a minimum income being taxed, depending of type of work and origin (nationality) – school teachers don't need to earn more than around 30,000 baht a month (don't know exact figurs, ), whilst others may be from around 35,000 to 60,000 baht a month, some nationalities less, and some jobs also less – read little more here: "Minimum Salaries for foreigners in Thailand"... Link to comment Share on other sites More sharing options...
ubonjoe Posted May 22, 2017 Share Posted May 22, 2017 4 minutes ago, khunPer said: There are no special "minimum salaries for farangs" – however to apply for non-immigrant visa extensions for employment in Thailand, the Immigration require a minimum income being taxed, depending of type of work and origin (nationality) – school teachers don't need to earn more than around 30,000 baht a month (don't know exact figurs, ), whilst others may be from around 35,000 to 60,000 baht a month, some nationalities less, and some jobs also less – read little more here: "Minimum Salaries for foreigners in Thailand"... There is no minimum salary requirement for teaching. Only getting an extension of stay based upon working for a company requires a minimum salary. The info you posted a link to is not correct. The highest minimum salary is 50k baht. Quote Table of Income for Criteria 2.1(2) Annexed to Order No. 327/2557 of the Royal Thai Police Bureau dated June 30, 2014 1. Countries in Europe (except Russia) and Australia, Canada, Japan, the United States of America 50,000 baht/month 2. South Korea, Singapore, Taiwan, and Hong Kong 45,000 baht/month 3. Countries in Asia (except Japan, South Korea, Singapore, Taiwan. Hong Kong, Cambodia, Myanmar, Laos, and Vietnam) and South America, countries in Eastern Europe, countries in Central America, Mexico, Russia, and South Africa 35,000 baht/month 4. Countries in Africa (except South Africa), Cambodia, Myanmar, Laos, and Vietnam 25,0000 baht/month 1 Link to comment Share on other sites More sharing options...
khunPer Posted May 22, 2017 Share Posted May 22, 2017 1 hour ago, ubonjoe said: There is no minimum salary requirement for teaching. Only getting an extension of stay based upon working for a company requires a minimum salary. The info you posted a link to is not correct. The highest minimum salary is 50k baht. Thanks... Link to comment Share on other sites More sharing options...
tazly Posted May 22, 2017 Share Posted May 22, 2017 (edited) 21 hours ago, Neal In Thailand said: Thanks for the heads up. The computer work is pretty basic. They will be updating names and address. If the resident is no longer there, they use two search sites to identify who is now living there, they input that new information into an oracle data base. In the end that will be the key, qualified workers. I will be contacting some employment firms when Im on the ground in Thailand and actually showing them the scope of the work. If that's not a problem then Im good to go. I will also be meeting with this law firm in person before I move ahead as well. I'm not rushing this, want to take my time and make sure everything is pretty tight! Can you post a full JD here....along with references. Edited May 22, 2017 by tazly Link to comment Share on other sites More sharing options...
ericthai Posted May 22, 2017 Share Posted May 22, 2017 22 hours ago, Neal In Thailand said: Thanks for the heads up. The computer work is pretty basic. They will be updating names and address. If the resident is no longer there, they use two search sites to identify who is now living there, they input that new information into an oracle data base. In the end that will be the key, qualified workers. I will be contacting some employment firms when Im on the ground in Thailand and actually showing them the scope of the work. If that's not a problem then Im good to go. I will also be meeting with this law firm in person before I move ahead as well. I'm not rushing this, want to take my time and make sure everything is pretty tight! I would be careful and not give out too much info to more people. Sooner or later someone will copy you. Dont tell people you are going to make allot of money, tell them you will be able to pay the bills or something like that. I had a Thai friend try to copy our product so you never know who is going to try. This is Thailand and Money is #1 Link to comment Share on other sites More sharing options...
oldcarguy Posted May 23, 2017 Share Posted May 23, 2017 On 5/21/2017 at 9:38 AM, Neal In Thailand said: Thanks for the heads up. The computer work is pretty basic. They will be updating names and address. If the resident is no longer there, they use two search sites to identify who is now living there, they input that new information into an oracle data base. In the end that will be the key, qualified workers. I will be contacting some employment firms when Im on the ground in Thailand and actually showing them the scope of the work. If that's not a problem then Im good to go. I will also be meeting with this law firm in person before I move ahead as well. I'm not rushing this, want to take my time and make sure everything is pretty tight! Did you try this with a Thai English speaker yet ? How English is taught in Thailand is you hear a word , you repeat the word , on and on Hopefully your teacher is a native English speaker from the West , But they do not teach Phonics ! So how are your callers going to even get close to pronouncing the name of the person they are trying to track down ? With your connections it sounds like you have that side already set-up , but I would be concerned with the level of English , and also their English under pressure...... Why has the company not done this already in Manila ? Good luck, I hope you can get past the problems and get it to work.... Link to comment Share on other sites More sharing options...
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