Business startup Catch 22
I have just moved to Thailand and would like to start my own business. I have been told that to set up a company, I need a tax ID and a work permit for myself. The tax office tells me it can’t issue a tax ID for me unless I have a work permit and the labor department says it can’t issue a work permit for me unless I have a tax ID. In addition, I’m not allowed to sign my company papers without a work permit, but I can’t get a work permit unless I have all the company papers ready....
Asked on Tuesday, September 11, 2001 | 06:28 AM
Warren Buffet, Phuket.
You must be hired by a company before you can be issued with either a tax ID or a work permit. To set up your own limited company, you must first reserve a company name at the Commercial Registration Office. The company can be registered once its name has been authorized. A foreigner may hold up to 49% of the shares in the company, which must have at least seven partners. Once the company is registered, it can hire you, and then you can be issued with a work permit and a tax ID.