The road to working for your own business legally

**Ratchaburi** · 14-01-2012, 03:28 PM

Originally Posted by madjbs

And apparently the salary requirement was reduced to 50,000 in 2006. Also, if you are married to a Thai they only require 1 million baht capital and 2 Thai staff for the work permit.

I have 6 staff & 25 employees , last year Immigration told me that I need to have
more Staff in the office.
Staff do not earn you money it is the Employees that earn you money

**madjbs** · 14-01-2012, 04:14 PM

Sorry that doesn't make sense. As long as they are working for your company full time, it does not matter if you call them staff or employees. You only need 4 of them per foreigner, unless you are BOI sponsored.

**9999** · 14-01-2012, 04:44 PM

Originally Posted by madjbs

What he means is that you have to pay yourself a salary of 60,000 a month in order to get a work permit. The company needs to be making a profit after paying yourself 60,000 a month if you want to continue renew your work permit.

KK gotacha. So I have the wage covered and the 60K profit pm over a year would make the business capitalized at 2M+ I would think.

**9999** · 14-01-2012, 04:50 PM

Originally Posted by Butterfly

before making those claims, make sure to include all your costs and revenue in some comprehensive analysis

Yeah I have tried to do so and been conservative by inflating running costs iin the draft plan / model I'm going off.

Originally Posted by Butterfly

too often there are hidden costs that have failed to be taken into account, and that can sink the profits and the rest of the business model, something you would typically see with Thai opening businesses. Don't listen to your girl friend for reporting costs, she probably forgot half of them, and women have a tendency to "minimize" or ignore certain costs when they are too high

I hear ya. This is all part of due diligence. Will defo be prudent about that costs are there to run the business that I could never be told about. Need to avoid getting slapped with random bills that were never account for. I will make a stance with the mrs on this.

STarting as an ordinary partnership would probably make the 'hidden cost' factor you brought up easier to be on top of until we go ltd.

**Tom Sawyer** · 14-01-2012, 11:28 PM

Originally Posted by madjbs

if you are married to a Thai they only require 1 million baht capital and 2 Thai staff for the work permit.

Didn't know that little nugget. Link?

**William** · 15-01-2012, 02:34 AM

Originally Posted by madjbs

And if the business grows, you will certainly regret not having that 49% in the future!

very true; but at the same time, he may grow to regret not setting the company up properly in the first place as he sees his 49% being diluted to new shareholders to the benefit of the 51% shareholders on the back of such success.

Thread: The road to working for your own business legally

Thread Tools

Display

Thread Information

Users Browsing this Thread

Posting Permissions