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  1. #1
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    Question Moving my company to Thailand

    Aloha,

    Have anybody moved their company to Thailand, so they could avoid paying ridiculous European taxes?

    My company is currently registered in Denmark and drags home 2-3 million baht in profits every year. It has no buildings, etc., since all my company activities are done on the Internet. The only physical things owned by my company are a computer or two, a mobile phone and some office equipment like pens and paper

    Can I close it down here in Denmark, reopen it in Thailand and still bring to profits back to Denmark somehow (we still live in Denmark, so it would be nice to have the money here).

    My wife is Thai, but I wouldn’t mind if the company continued to be registered in my name.

    Thanks a lot.

  2. #2
    ding ding ding
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    close down the company in denmark. move to Thailand with your computer. get an account in the caymans and have your customers pay you into that.
    Work on your pc in Thailand behind closed doors, no work permit no taxes.
    Jobs a good en.

  3. #3
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    ... not bad, but how do I withdraw money from a Caymans account? I guess people will find out if I transfer large amounts to my normal credit card account.

  4. #4
    ding ding ding
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    ^ Thailand does not care less where you money comes from. As long as it does come and you spent it they are happy. Just SWIFT/ CHAPS transfer whenever you run low.

    It doesnt have to be caymans account, you could have people pay you through any bank, even one in Thailand.

  5. #5
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    Maybe, as far as I know the Thai goverment doesn't check or care about anything.

    Still, I don't want to risk going to Thai prison or them coming to take our house, car, etc.

  6. #6
    ding ding ding
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    ^ the government wont but they have made the laws to help any female companion you have to do so.

  7. #7
    watterinja
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    If you continue to operate from Denmark, you will need to obtain advice from your local tax adviser/expert.

    I would guess that your idea could land you in a spot of bother at some point if you are found out. Spin's concept of you moving to an offshore location, operating from a distant offshore banking account, could be more useful.

    Perhaps the resident board guru (William) could make some useful suggestions?

  8. #8
    Thailand Expat
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    ^first problem: I guess he is working on the European concept of one shareholder company...


    ... and as we all know, in Thailand it takes seven (7) shareholders to form a company (even if they only own one share each). So SN needs to go and find 5 friends (plus himslef and his wife) willing to buy 1 share or more in his company

  9. #9
    watterinja
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    ^ That often gives new business owners a rude awakening... giving the business away...

  10. #10
    Thailand Expat
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    ^if he relocated to Thailand it would likely be of more ease to him to live here on a marriage visa and work outside the company structure. For example, "internet" based business, which is what this sounds like, red flags "service" industry, which is nearly completely prohibited or restricted to foreigners under the Foreign Business Act.

    Not saying it wouldn't be doable, but with only 2 to 3 million in revenues each year, he wouldn'teven get the benefit of One Stop Visa/Work Permit services

  11. #11
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    If you remain resident in Denmark, and draw profits/income from your company, you still have a tax liability no matter where the company is domiciled.
    If you want to bank your profits offshore and draw your spending money via debit card, up to you. If you are caught, you will be prosecuted. The first thing is that, if you were earning a certain amount last year, why are you earning nothing this year, living in the same house driving the same car? I don't think you'll be hard to catch.
    There may well be ways to minimise your tax legally, but you will need to consult a tax advisor. Especially if a substantial portion of your profits are derived from outside Denmark.

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