Business Incorporation In Thailand

Business Incorporation In Thailand

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The following article is intended as a brief overview about how setting up a Thai company can be useful for those wishing to live and work in the Kingdom of Thailand. This article alone should not be viewed as a substitute for legal advice or research.

There are a lot of critical matters that are involved in maintaining an expatriate life in Thailand. Thai work permits and visas are critical for those expats wishing to stay in Thailand for a long period of time. Regrettably, visas and work permits that are promulgated by employers can be taken back should the employment be terminated. This could be a major issue for people who would like to seek out different employment in Thailand. When Thai Immigration issues a Thai visa extension based upon the existence of a Thai work permit, then the visa will expire 7 days after the work permit is canceled, regardless of the remaining validity of the visa. Therefore, if a visa and work permit are "tied together," and one's employment comes to an abrupt end, then the loss of employment could mean being forced to leave the country (for a length of time long enough to secure another visa).

This is why a Thai Company can be a boon to foreigners staying in the Kingdom of Thailand. A foreigner in control of a Thai limited company can essentially control his or her Thai visa and work permit. To a certain degree, the foreign national is self-employed. This is a particularly popular method of maintaining lawful status in the Kingdom for those who work in the service industry. For instance, an Information Technology engineer or computer programmer could establish a Thai Limited Company and have other companies employ this company as a subcontractor. The employer would pay the company and the company would pay him a salary. Significantly, if this employment comes to an end, then the programmer would not automatically lose his or her work permit and long term visa status, but would simply lose the incoming revenue. Therefore, that person, acting as a representative of the company, could seek work in other places while still remaining in lawful Immigration status.

Taxes can be an issue if this type of endeavor is undertaken as the taxes of a company must be kept up to date on a yearly basis. Further, in the case of the Thai Value Added Tax, it may be wise to be certain that these taxes are paid on a monthly basis. There are also employee requirements in order for a visa extension to be issued, but a work permit could be maintained without meeting this requirement if the foreigner maintains a long term multiple entry Thai visa. Although, obtaining advice from a professional in the legal field might be beneficial before following through with this course of action.

About the Author:
The author, Ben Hart, is an attorney from the USA and Managing Director of Integrity Legal (Thailand) Co. Ltd. A Firm with licensed Thai lawyers. For mor information please contact 1-877-231-7533 or in Thailand call +66 (0)2 266-3698, via email contact info@integrity-legal.com. See further articles on the internet at Thailand business visa or Thailand Company.



Article Originally Published On: http://www.articlesnatch.com


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