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Home » Reader question » Reader question: What visa do I need to start a business in Thailand?
Dear readers,
Let me introduce ourselves, I'm Frank (46 yrs.) and Carola (35 yrs.) We live and work in Belgium (foreigners document, E-card) and have Dutch nationality (passport).
Now, because we are very fond of Thailand, we are planning several holidays and looking to live there permanently and run a company there (this can be a bar or just start a shop). I think I will rent for the first year. In addition, our 2 dogs are also coming along.
The area that really appeals to us is Koh Chang. We have a capital of around 20.000 euros. We have now requested various locations via the internet, but I want to see everything with my own before I actually start the business.
The question is therefore: With which visa can I enter Thailand to set up a business (rental property) and habitation (also rent). I do have a goal, but no invitation for the visa application. I want to spend the first months looking for a location where I can start the business activities.
Regards,
Frank
Just start with a tourist visa. After that you can still arrange a B visa.
However, don't expect big profits in Thailand. You need at least 2 Thai to set up a Company. It also costs quite a lot in attorney fees. In any case, be well informed
Don't forget the work permit (which you will not get for the mentioned activities).
Leave for Thailand with 20.000 euros without further income and then live off the proceeds of a rented bar or shop?
Well, if we could, we would all go.
Just come here on a tourist visa to get your bearings.
Then if you know what you want you can set up a company here, and go abroad to apply for a non-immigrant B visa.
As a foreigner, you cannot start/have your own business in Thailand. Do not fall for all kinds of services and promises offered through consultancy firms, let alone legal constructions. Almost all of them are intended to avoid the law. And that will cost you much more than 20.000 euros.
I know enough Dutch people who legally have a company in Thailand. It's not easy, but it is possible.
With a BOI promotion, but otherwise you always end up with 51% Thai's shareholding. Moreover: it is forbidden by law for a Thai to hold shares for a foreigner.
(what happens in practice… well… until things go wrong. If any Thai finds out, after ten years, that his signature under a deed of incorporation has become a ten million company, you can wait for the invitation to “share” .
How often have you been on holiday in Thailand, a holiday is really quite different from living and working there.
It is quite possible to start a business in Thailand, but you should indeed be well informed by several lawyers before you make a decision.
I don't know ko chiang well, but how big is the difference in the number of tourists between high and low season? Can you build up enough reserves for the low season during the high season?
My advice is to first spend a few months there to see if you really like it and to get to know the island and the area where you might want to start something. To try to know all the “rules”.
Good luck, I hope it works out for you and keep us informed of your progress.
I have had a business in Phuket for 10 years now, we have tourists here all year round. A solid local lawyer, I have had mine since 2000. But with 20.000 euros, with all due respect, you will not get anywhere in Thailand and you will not be able to make money there. you need more. If you are interested, I am selling my business, which is very profitable due to age and minor health problems, but I am not in a hurry, I am not leaving, I live next to the business and you have income from the first day.
Vacation is not the same as living here and working with the Thais. Setting up your company and work permit and visa costs 100.000 baht (2500 euros) already.
Think carefully, there are many who come here just like your plan and return after a few months with empty pockets, if you do not have the necessary capital, it is best to stay where you are and come on holiday.
A bar, a massage or a shop, just the things that you should not start here, there is nothing to earn
Success
Dear,
First of all many thanks for your comments,
I understand your concern and it is justified.
We have been to Thailand 3 times before and have crossed almost the entire country.
To avoid further misconceptions;
I also understand that 20000 euros is on the low side, but this is capital that I can enter through customs in cash and is intended to bridge the first year. cq. costs for starting a business. It may just be that you start generating income from a company or work after 3 months, for example.
is it so,
I am now taking a tourist visa and will find income in the foreseeable future, do I have to return to Europe for an immigrant B visa or can I do so in one of the neighboring countries?
And Eric may I ask what kind of business you run?
You are allowed to export much more (read: unlimited) money, you just have to report it (declare it) and then prove the origin.
Dear Frank,
If there is an employer who is willing to apply for a work permit for you, it is even possible to convert your stay in Thailand from a tourist status to a non-immigrant status.
Mind you, a visa is for entering a country. Upon arrival you will receive a right of residence for a certain period. With a tourist visa, this is 60 days and can be extended once by 1 days.
To be allowed to work, a non-immigrant status AND a work permit are required. It is therefore not possible to legally generate income with a tourist status.
And how do you want to arrange this for your work permit? You must be able to demonstrate why a Thai cannot do your job. There are many obstacles that cannot easily be resolved. For a business visa you also need an invitation from a company to demonstrate that you actually have to travel back and forth. You can have everything arranged by so-called agencies, but then you will quickly run out of money.
First of all: for permanent residence you need a bank book which must contain at least B 3 at least 800.000 months before renewal of the residence permit. With the current exchange rate, that is approximately € 21.000.
I do not understand your € 20.000. You may bring a maximum of € 9.999,99 times 2 cash. But you can transfer money by bank, right?
When establishing a Ltd. go to a reliable notary/accountant. (I live in Pattaya and can help you with eea [email protected]). You set up a Ltd with eg B 1M capital. You do not have to deposit that money (immediately). Formation costs approx. B 50,000, but you need at least 2 Thais who together acquire 51% of the shares. So you 49%. Make sure you arrange this properly. If you employ Thais in your Ltd, nothing will happen if you have the necessary permits. If you want to be officially employed yourself, this is described everywhere.
You can also apply for a B visa in Laos.
Why do you orient yourself very well first. Do the preparation and wait until you are 50 then you can enter Thailand on a riterement visa. And your wife just on a 30 day visa with extensions.
bob,
This is very expensive for a company of 1 million bath, my wife does it for half and is officially registered with BDP.
With a co ltd with 1 million capital, they are not eligible for a work permit. This only applies if married to a Thai. They are 2 Dutch people, so minus 2 million capital per person.
Hi Frank
I am selling a bed and breakfast with 6 rooms that you can run as a couple, if you want more info
We may say the best deal and serious proposal on the island.
[email protected]
gr
Eric
Hi Erik,
may i ask what company you have? Do you have a website for this? I ask this because I (and my Thai wife) also want to live in Thailand in due course, but with some form of income.
Regards Ruud.
Send an email to [email protected] then I will email everything, it is a bed and breakfast that has been around for 10 years and according to TripAdvisor is the best in Thailand. And no, I am not leaving Thailand, I have a house next door, Ideal for those who want income from day 1
You need a Thai partner anyway, 4 Thai employees and 4 million baht (also allowed on paper in shares) and of course your non-immigrant B visa. After that you can arrange your work permit.
I think this is what I started with at the time. I'm just afraid that 20,000 won't make it. It takes quite a while before everything starts to run smoothly and the start-up costs are considerable, even for Thai standards. I worked in NL for more than 1,5 years to be able to pay all costs. Now (after 3 years) I can finally support myself reasonably.
To start with, you legally need an investment capital of 2 million baht and you must employ 4 Thais per work permit. And you can only be a 49% shareholder in your own business.
Just because you own the business does not mean that you are allowed to work there,
My honest opinion, your 20 000 Euro starting capital is completely insufficient to start a business as a foreign couple. In addition, the business you want to start is reserved for Thai nationals.
Dear Frank,
There are 2 things to keep separate.
1. Setting up a business in Thailand.
It is fairly easy for a foreigner to start a business. This is in most cases a Company Limited. This requires a minimum of 3 shareholders, and in most cases 51% or more must be owned by the Thai shareholder(s).
2. Living and working in the Thai company
Being a shareholder does not automatically entitle you to live and work in Thailand. There are a number of minimum requirements for this. The most important are that a minimum of 2 million Baht capital must be placed per work permit and at least 4 Thais must be employed. In your case, a starting capital of at least 4 million Baht and 8 Thai employees.
From that alone you can see that Euro 20,000 will be far too little.
The next problem will be the positions you both want to fulfill. Professions such as salesman or bartender / woman are not allowed again. You can be a director of the company, but 2 directors is not a good option either.
I therefore see no legal option, unless you save up to at least 200,000 Euro
Dear Frank and Carola,
I just wanted to encourage you to “set up” your project and certainly don't let your dream go, go for it even if it was within x number of years, by the way, the people with experience have persevered!
As an example I want to give my own so you can see a realistic picture assuming that I set up a company and run a bar in Thailand which is not the case now.
However, married to a Thai for more than 15 years, I must be able to prove a minimum of 400000 bth on a regular account to live in Thailand for longer than three months (annually), but I am lucky that my wife is already Thai and my daughter also remains the three of us it's still a family business … but also for me 4 thai people have to work … if I wanted to be the director.
Next point: how much turnover should I make, knowing that in the bar the staff does not come to work for 400 billion per day (per person, that is) and this 7/7, the rent, the drinks and food, the insurance, the electricity and so much more too many things to list here and of course I don't pay my wife and daughter a salary yet. Shareholders (51%) do share in the profits if there are any.
Don't let this scare you off, I think with a good look around and following the experience of "insiders" I wish you good luck "chokdee" as the Thai say!
Well…I don't really know much about it…but I advise anyone who wants to start a business in Thailand…to contact http://www.huahinbusinessagent.com … I hear a lot of good things from…..
Dear,
That 20000 euros is only cash that I take with me, to avoid all kinds of questions at customs. In addition, I want to see whether you can live on this temporarily and also the question; How does lease or rent work there? The same conditions apply as for buying. From January I will be out of work, massive layoffs due to economic cuts, I don't want to wait until I'm 50 because the bridging loan is still too big. The intention is that if I start something there or can live there, my house will go on sale here in Belgium. Of course, money will also be released from this… for us it is important to temporarily survive in Thailand and do business…!!! And if possible, stay away from Europe, to avoid traveling up and down.
Hi Frank,
Nice to know enterprising people and hear what they want and gather information in advance.
Everything is almost possible to do here in Thailand, only you have to come from a good background and have enough capital to bridge the gap.
I still have an idea to set up something that is not here in Thailand. I've been dealing with that myself for several years, but I don't want to do anything anymore after I've stopped my companies in the Netherlands and abroad.
I have lived here for 12 years and taught my Thai wife after gathering a lot of information at the tax office here as well as studying the relevant legislation. My wife now does everything herself, making companies, annual reports, wills, both English and Thai, insurance, etc., she is even a translator at the court's request.
Working in Thailand is difficult, you shouldn't want to, you have to be a good driver, then you can earn money, I know how to set things up without too many problems.
You do not need any capital for a non-immigrant B visa, only an invitation letter from the co-shareholder or director of a company, which is sufficient when submitting the documents of the company.
But look before you leap.
Wish you a lot of wisdom towards a good decision, if you want to know more, here is my email address [email protected]
Regards, Roe