Work permit with own company - any "intangible" requirements?

[EbhB]

So far, so good, the lawyer I use has gotten the company registered & the next 90 day business visa just came through ????

 

Getting a clear picture of how a process like this will pan out is kinda impossible before it gets started in Thailand I guess, but for the main things like X workers and all the papers required I kinda got the picture.

 

We will run through around 200k baht for the first month when I apply, this seems to be key to getting a 1 year extension, not just a series of 90 day visas.

 

I expect to have a turnover from then on that is far less, at least for the first months. As I've understood it all, the first month is the most important, and if I get it off ground like planned the renewal the following year will get sorted, somehow.

 

Some people claim its purely mechanical, but would there not also be more "intangible" things that could kick in?

 

These are some of the questions I've got that I suspect a bureaucrat might consider as part of the overall assesment:

 

1. When billing, does it matter if its all ONE bill/customer overseas each month, or is a handful better? My plan is using 2-3 of my units for the initial phase, this also reflects the real business as it is intended to grow later on.

 

2. Is it important for me to get thai companies as customers as soon as possible? I will have a revenue stream from the West anyway, and ideally would like to spend some time to get the first thai customer - but if its a good thing regarding WP and other applications I could set it up as a priority.

 

3. I do have a bachelor degree that is unrelated, but the documentation is far gone. When I applied for a WP with a BOI this summer, the question of "two specialities" arose. I guess I can single out a couple of old courses I've done, but would prefer to apply with several recommendation letters & proof that I'm able to employ people, which in my mind at least should carry some weight!

 

4. Working in the creative fields I also do coding & systems. We have our own software that controls our workflow in the tiny agency I'm running, and now we'll scale that with workers in Thailand. Although I do not apply as a BOI, could I somehow document & use this in the process? If succesfull it could provide access to customers in the West both for our new employees as well as freelancers in Thailand.

 

5. The family in Thailand really want to help, and most being middle class goverment employees perhaps some role in the company could help. Should I ask some of them if they want to be on the board, hold some shares, or in any other way connect with the business? Or could I just ask them for recommendation letters etc?

 

Although the lawyer will sort out all things and perhaps does not see all of these nuances, I would like to push this - especially since I will NOT do anything that does not reflect reality. I do want to build this, I've got the experience, and a fair chance of success I hope ????

Even just having any of these "intangibles" to point to later down the line might be very important, especially as it is not just a ton of tricks & cheating - for me its about communicating clearly who I am, what experience I have & how I want to be allowed a chance to build this in Thailand!

[Matzzon]

All theese questions is far better that your lawyer as well as the BOI board take care of and give the answers to.

Maybe you already have the knowledge, but it seems to me that you forgot one very important point for be successful with any business registered in Thailand. That is that I sincerely hope that you can speak, read and write Thai. That together with your expertise in your choosen field(s) will be your two strongest factors for success.

Good luck.

[EbhB]

My wife & family will take care of any possible thai customers, the lawyer anything official. I'll learn myself, but will take time of course.

 

We already have an established business outside of Thailand, so at least for the initial period that will be our revenue stream. Could even keep it that way, depending on a lot of variables.

 

The lawyer and her team so far has been good, and I do not doubt that they'll do their work, but these things are about what they might NOT think about - in a way they are part of the system, thinking in schematics.

 

Perception IS important in my opinion, and that is precisely what has made me capable of pulling off complex things so far at least!

 

Nothing to do with the BOI this, just referred to a previous process, btw. This is a thai company with my wife ????

[blackcab]

1. It doesn't matter. The only people that will see the invoices are you, your accountant and your auditor (unless one day you have a tax inspection).

 

2. As above, nobody will know where your customers are from because they won't see your invoices.

 

3. Don't mix up being a shareholder and applying for a work permit. Your work permit will be granted on the basis of your application. To get a work permit in Thailand one consideration is whether or not you have a relevant degree. A degree is not necessary for a non-teaching job, however without a degree you would be expected to show you have sufficient relevant experience.

 

4. 

2 hours ago, EbhB said:

...could I somehow document & use this in the process?

 

In the process of getting a work permit? The Ministry of Labour won't be even slightly interested. To get a work permit you supply them with the required documents. That's about it really. Either you supply the documents they require or you do not.

 

5. Shareholders have nothing to do with getting a work permit. Who you employ makes no difference. If you employ the correct number of people at the minimum salary, and pay their social fund as required then the boxes for that requirement will be ticked.

 

Getting a work permit is not that onerous. It is the 1 year extension of stay where the requirements are exacting.

[EbhB]

Ah, great - thanks for very valuable input!

 

For point 1 focusing only on turnover will make it much easier, the total number should be OK for the first phase at least. All cleared up now ????

 

Since I will not apply with a degree, then I'll focus on building up proof that I have experience in the right field + a track record of setting up businesses. Even got an interview online which I guess could be translated... This will be a solid stack, documenting 15-20 or more years of experience.

 

For point 5 I guess it might matter a bit if we try to get thai customers, so I'll put that on hold.

 

Thanks for your input on the WP itself not being too hard, and when I get to applying for a 1 year extension hopefully we'll have a marriage certificate too ????

 

I know some people get 3-6 month WPs only, and combine this with 90 day visas - its not what I WANT to, but I guess thats OK worst case - I need to go back every 2-5 months to tend to my existing businesses anyway...

 

Would the department of works let a 1 year WP pass based ONLY on the turnover of the month when applying? Or is it a total for the year, or a mix?

 

Whatever their policy is, I think the lawyer I use will guide me through it all in the best possible way, and a year is a long time anyway when setting up a business...

[ubonjoe]

11 hours ago, EbhB said:

I know some people get 3-6 month WPs only, and combine this with 90 day visas - its not what I WANT to, but I guess thats OK worst case - I need to go back every 2-5 months to tend to my existing businesses anyway...

Work permits are no longer tied to your permit to stay.

I you got a multiple entry non-o visa based upon marriage to a Thai the work permit would be issued for a one year.

You can also apply for a extension of stay based upon marriage and work. You can even show your income from working to meet the 40k baht income requirement for it.

[yankee99]

Fwiw unless your lawyer is a cpa you need to find a cpa to do your monthly books. Invoices are extremely important and need to be formatted in a specific way. Thai accounting / inventory software is best quick books and stuff doesn't integrate well in the thai system.  If your invoices payment are from overseas your accountant will want a money trail showing the fund transfers. Dont be fooled that thai rd is relaxed they arent and new companies are almost always audited. Social security will visit your workplace to see the employees that will receive benefits too 

[exemplary21]

1 hour ago, yankee99 said:

Social security will visit your workplace to see the employees that will receive benefits too 

 

Not necessarily.

[finnishmen]

own company if need work permit need first take minimum 4 thai to work you companu then you have possiple take work permits. but before,no newer can. have money or not no can take work permit if no have minimum 4 thai at work you company first.

 

[EbhB]

7 hours ago, ubonjoe said:

Work permits are no longer tied to your permit to stay.

I you got a multiple entry non-o visa based upon marriage to a Thai the work permit would be issued for a one year.

You can also apply for a extension of stay based upon marriage and work. You can even show your income from working to meet the 40k baht income requirement for it.

Thanks, our plan is to get me onto an extension of marriage, but we did run into some problems with the paperwork - hopefully it will come through while my application is still under consideration.

 

Guess I'll both reserve the 400k in an account & make 40k + at least most months, the plan is to have at least 2, preferably 3 "layers" protecting my long stay in the country ????

[EbhB]

2 hours ago, yankee99 said:

Fwiw unless your lawyer is a cpa you need to find a cpa to do your monthly books. Invoices are extremely important and need to be formatted in a specific way. Thai accounting / inventory software is best quick books and stuff doesn't integrate well in the thai system.  If your invoices payment are from overseas your accountant will want a money trail showing the fund transfers. Dont be fooled that thai rd is relaxed they arent and new companies are almost always audited. Social security will visit your workplace to see the employees that will receive benefits too 

They've got accountants, and a thorough run-through of invoicing is included. They'll also check the details around the money trail, which is all totally open and easy to both prove & explain.

 

Part of the setup is also that the registered address is at their office space, anyone calling or visiting will get the right explanation I'm sure...

[EbhB]

21 minutes ago, finnishmen said:

own company if need work permit need first take minimum 4 thai to work you companu then you have possiple take work permits. but before,no newer can. have money or not no can take work permit if no have minimum 4 thai at work you company first.

 

Apparently this is NOT a 100% set rule, some of their clients get approval with 3 workers when single, or 1 worker when married.

 

The main difference if not meeting the expected turnover is that they could issue work permits for 3 or 6 months, not a full year...

 

I'll meet the minimum easily, as I also will engage in genuine business with a lot of freelancers - effectively having good access to hiring the most promising ones.

[TheJoker999]

To start a business in thailand how much capital must i show or invest upfront for a WP? It always says 2mil + but in reality how much is it? ????

[EbhB]

Just now, truemove said:

To start a business in thailand how much capital must i show or invest upfront for a WP? It always says 2mil + but in reality how much is it? ????

0, zero that is...

 

That requires registering with a loan from the company, which has no limit for when it should be paid back.

 

I've started with 2 million registered as we have not been able to register with an amphur yet, but want to pull that down to 1 million after we are legally married - there is a cost to that, but I prefer to get it done.

 

There should be no downside to registering with a loan construction, but if I was dealing with connected or powerful customers with a risk of getting sued or pushed to bankrupcy of course I'd be wary of doing this with a loan construction...

 

But then again, even getting involved with customers like that is something I want to avoid if at all possible!

 

Also, I think this is an area where a lawyer is kinda necessary to get it all through, the registration itself came through in less than a week - including the company seal & subsequent visa ????