| Setting up a Thai Private Company Limited |
Our Package For Setting Up a Thai Company:
Silver Package includes
• Fees: Baht 15,000 excluding VAT and expenses
• Job covers: (1) Setting up a company (2) Provide Company Document
Gold Package includes
• Fees: Baht 18,000 excluding VAT and expenses
• Job covers:
(1) Setting up a company
(2) Provide Company Document
(3) Company Tax Registration
Platinum Package includes
• Fees: Baht 21,000 excluding VAT and expenses
• Job covers:
(1) Setting up a company
(2) Provide Company Document
(3) Company Tax Registration
(4) Value Added Tax Registration
Extra Jobs:
We will charge additionally for these jobs and this cost excludes 7% of VAT and expenses:
• Opening a bank account (required a work permit) : Baht 3,500
• Work permit: Baht 10,000.
Contact us now: Mr. Kit Kribavornwish, Office Manager;
Email: notarybkk@gmail.com
Hotline: 081 899 1604 (24 Hours) or overseas call +66 81 899 1604.
Fax: 02 1523 018
Head Office: Bangkok Lawyer Limited Partnership No. 1 Zuellig House Level 8, Silom Road, Bangrak, Bangkok 10500
Branch Office: 26/142, Chonlamarkpichan Road, Ladsawai, Pratumtani 12150 |
Launching a company in Thailand, a Thai Private Company Limited.
(Source: Indo-siam.com):
A few reasons for setting up Thai Co., Ltd.
1. Establishing a company here as a serious moneymaking proposition basically as a primary or secondary source of life income. The intent is to grow the company, earn substantial profit, and build a little business empire.
2. Establishing as minimal a shell company as possible, for any of the following reasons:
a. As a "front" for buying land.
b. As "front" for securing a non-immigrant Class B (employment) visa.
c. As a "front" for helping a Thai partner build an employment record, for purposes of assisting her in later getting a visa abroad.
3. Establishing a semi-serious company as a way of keeping a Thai partner occupied, and hopefully allowing her to take seed money, and earn enough income from it to fund a modestly comfortable lifestyle.
This example is mainly aimed at supporting people in Category 1, above. For that type of enterprise, here are the things that you will need as part of the "package", along with typical costs:
Company registration, including securing VAT registration, corporate tax registration, individual employee tax registration for all employees earning more than 12,000 baht per month.
You will still need three shareholders (on paper), you will still need an auditor, company stamp/seal, business current account, VAT registration, etc. At least one shareholder must be a Thai, he/she will hold 51% of the total shares of your company.
Assuming you will want one farang work permit and non-immigrant visa, you will need to capitalize company at a minimum of 2,000,000 baht. You will pay a capitalization fee of 500 baht per 100,000 baht of capital, so you will pay a total of 10,000 baht in capitalization charges. Other application fees paid to Thai government run around 4,000 baht. Unless you want to personally run all your papers around, you will also need to pay a lawyer to attest to a power-of-attorney. This typically costs 3,000 baht. You will need a company seal assume about 500 baht for that.
Other things you will need: An address this can be significant, because this address will determine the jurisdiction for several Thai offices with which you will need to interact. If you later change address, you must submit address change documents to a number of places. In order to get the VAT registration, and later the work permit, this address must be in a commercially-registered building whose landlord will issue you a building owner's registration of your office occupancy. Preparation of this document package typically costs 2,500-4,500 baht. People often want to know if they can use their home as an office address. Normally, the answer is "no". Residential landlords will not normally be willing to issue you an office registration, it opens them up to additional tax scrutiny, and some other potential liabilities, and most residential landlords are evidently not typically fully reporting their actual rental income.
So, you basically need to figure out, in advance, where your fledgling business will have its office, because you will use this address from the very first application you must submit. Office space comes at many different price levels, depending on location. Typical requirement is to sign a one-year lease, pay a deposit of two months rent, plus pay the first month in advance. To put in a phone involves a phone installation charge, an advance deposit on calling charges (typically 10,000 baht), plus monthly base charges.
Also, you will need to pay-in at least 25% of your registered capital, within 90 days of registering your company. That's 500,000 baht, and you must demonstrate that it came in from outside Thailand. That means first opening a business "current" account. This normally requires at 10,000 baht deposit to open the account, plus about 200 baht for an initial checkbook. You bank outside Thailand will typically charge about US $35 (approximately 1,500 baht) for an international wire transfer. The good news is that once you pay in the capital, you may then use it to pay office lease fees, etc. But, you cannot get the bank account to receive the funds until you have the company registered, and have a VAT certificate. Also, until you have a work permit, you cannot even exercise signature authority over your own company bank account.
What this leads up to is that to start a company in Thailand, you need a Thai person to act as Thai Managing Director, and this person will have to sign many of the documents early in the life of your company (up until the point in time when you receive a work permit).
Another requirement that kicks in almost immediately is the requirement for a licensed Thai accountant, or "auditor". A start-up company will typically outsource this function, for 3,000 to 15,000 baht per month.
Not mentioned so far is the subject of shareholders. To submit your company registration application, you must list seven shareholders. No exceptions to this rule, EVER. Every company in Thailand has at least three shareholders. At least one shareholder must be a Thai holding 51% of the shares.
To open the bank account, you are required to have a work permit. Getting the work permit requires that you have 2,000,000 baht in registered capital (brought in from outside Thailand) for each farang work permit issued, and also four Thai employees on the payroll (that is, depicted on a company registration chart, and registered for social fund withholding) for each farang work permit issued.
Contact us now: Mr. Kit Kribavornwish, Office Manager;
Email: notarybkk@gmail.com
Hotline: 081 899 1604 (24 Hours) or overseas call +66 81 899 1604.
Fax: 02 1523 018
Head Office: Bangkok Lawyer Limited Partnership No. 1 Zuellig House Level 8, Silom Road, Bangrak, Bangkok 10500
Branch Office: 26/142, Chonlamarkpichan Road, Ladsawai, Pratumtani 12150
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