Setting up a small business
I would like to set up a small company, possibly in Phuket. My business doesn’t require a large amount of money to get going, and at first, I would need to employ only myself. In the long term, however, the business will make money and create jobs for other people. What is the most cost-effective way for me to do this? I set up my last company name in America in two hours for $8 sole proprietorship, and later hired employees. Can I do this in Thailand?
Asked on Wednesday, April 18, 2001 | 04:09 AM
Bill Hanson, USA.
If you want to register a company, there must be least seven investors. The cost of registration will depend on how much capital is put into the company. For each 100,000 baht of paid-up capital you must pay 550 baht for registration of the company. This mean if your company has paid-up capital of one million baht you will pay 5,500 baht for registration. However, if you are an American citizen, you can take advantage of the terms of the Thai-American Treaty of Amity. This allows Americans to do many things in Thailand that nationals of other countries may not do. Under the treaty, the cost of registering your business will be between 1,000 and 40,000 baht, depending on the type of business. You should contact the Phuket Commercial Registration Office. Just bring your passport and a copy of it. Once you have registered the business, you may then apply for a work permit.
To apply for work permits, a company must have paid-up capital of two million baht for each work permit required. So, in your case, your company must have capital of at least two million baht.