Answered7 years ago
Can my Singapore company assist in obtaining a long-term visa for living in Thailand?
Hello Everyone, I have a company in Singapore (SG in short) with some profits from businesses in other countries (not Thailand, not Singapore). Everything is legal FYI, no gambling or bitcoin or any of those, so this is not an issue. I visit Thailand every year and I am starting to plan my relocation/long stay in Thailand for a few years and maybe more :)
# My questions are as follows:
* First and foremost, is there any way my company in SG could help me get a long-term visa in Thailand? Business or otherwise. Which path should I take to advance with this?
* Would I be able to open a Thai bank account? Would I be able to withdraw dividends/salary from my SG company to a Thai bank account?
* Finally, I would like to pay my taxes in Thailand (if I live there, they deserve it). Could you recommend some accounting firms that deal with Visa/Taxes issues such as these, with international angle, specifically relating to SG if possible.
# My questions are as follows:
* First and foremost, is there any way my company in SG could help me get a long-term visa in Thailand? Business or otherwise. Which path should I take to advance with this?
* Would I be able to open a Thai bank account? Would I be able to withdraw dividends/salary from my SG company to a Thai bank account?
* Finally, I would like to pay my taxes in Thailand (if I live there, they deserve it). Could you recommend some accounting firms that deal with Visa/Taxes issues such as these, with international angle, specifically relating to SG if possible.
Answer summary
The user inquires about the possibility of leveraging their Singapore company for obtaining a long-term visa in Thailand, opening a Thai bank account, and paying taxes there. They received various responses suggesting consultation with a local business lawyer, the need for local partners for setting up a business, and considerations regarding taxation for expatriates. Alternative options like Thaielite cards and immigration costs were also mentioned.
27 repliesnewest first
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Chatmongkhon *******************
Maayan ******
OPWill talk to you when I'm in BKK in Dec-Jan
Wayne ********
why would u pay taxes in thailand if you take the money in singapore as earnings and deposit into an account with a bank in singapore it’s personal savings and thus any returns or interest u receive in singapore is not taxable as considered personal earnings from investment u can then access money with credit card or if u open a thai bank send only what u need monthly to you thai account x i cannot see how a thai company can help u get a long term visa why not just buy a Thaielite card for 5 yrs thb 500,000 obviously are not able to obtain retirement visa because u need to be 50+ also most westerners who live here are not allowed to work therefore why would u pay tax here ... unless u get a business visa but that is difficult and costly ..
Wayne ********
go your own way u asked for advice u don’t want to listen anyway after reading f your posting again you really don’t know what you are doing another idiot wanting to come here
Maayan ******
OPA few comments for future readers:
- I don't mind paying the 500K visa for 5 years. It's not about that.
- International tax laws are on the grey area but in general it's better to pay taxes somewhere or else your home country could claim that it deserves your taxes. I rather pay mine in Thailand.
- If/when I'll move to Thailand I will probably want to grow my business there using Thai work, and yes - it could also definitely help me get along term no-hassle visa.
- I don't mind paying the 500K visa for 5 years. It's not about that.
- International tax laws are on the grey area but in general it's better to pay taxes somewhere or else your home country could claim that it deserves your taxes. I rather pay mine in Thailand.
- If/when I'll move to Thailand I will probably want to grow my business there using Thai work, and yes - it could also definitely help me get along term no-hassle visa.
Nathan ***************
I do believe to set up a business in Thailand you have to have two Thai nationals as equal partners in the business
If anyone could correct me that would be fine as I may be misunderstandingsomething I read
If anyone could correct me that would be fine as I may be misunderstandingsomething I read
Nathan ***************
@Steven **************
bloody missus always says that to me Does she want fish or does she want noodles
Always the bloody same
Up to you
When all I say is up to you
We never get anything done lol
Steven ***************
As the saying goes here.. up to you.
Nathan ***************
@Steven **************
most artists run their own coffee shops Btw I’m an artist
A Restaurant is more which I would look for going to in the long term
I really don’t have to worry about any kickbacks though as the saying goes
Steven ***************
@Nathan **************
. Coffee shop and bar are the LAST things you should invest in. Coffee shop every 50 meters here and half the bars are up.for sale coz there's no money in it anymore. Then you have the mafia kickbacks..Nathan ***************
@Steven **************
yep which is why I’m planning on being a teacher or going back into drugs worker employmentNathan ***************
Garrett Greenwald wow that’s really interesting I was wondering how farang have set up companies here and got round it
Especially bar or restaurants as that would be a plan of mine in the future
Someone told me that to open a coffee shop my wife would have to be the sole trader and I couldn’t take any part and thought that may be how the other places I see get around it
Damn complicated thai law but at least you know one thing about this country is it makes sure thai people benefit from outside investments or business openings or companies being set up
I like it 😉
Especially bar or restaurants as that would be a plan of mine in the future
Someone told me that to open a coffee shop my wife would have to be the sole trader and I couldn’t take any part and thought that may be how the other places I see get around it
Damn complicated thai law but at least you know one thing about this country is it makes sure thai people benefit from outside investments or business openings or companies being set up
I like it 😉
Steven ***************
And pay them a minimum salary that's higher than what most thais earn. Add to that 90% of occupations are banned to foreigners.
Hence why getting a job here is difficult for most. Teaching is exempt.
Hence why getting a job here is difficult for most. Teaching is exempt.
Steven ***************
@Nathan **************
. Yep. Same lawNathan ***************
@Steven **************
ahhh I’ve just found out that to get work at the drugs rehab that to employ me they have to employ 4 thai Nationals is that the same thing that’s happening there ? Could you explain please as I don’t understand why
Though I think Siam rehab is run and owned by a foreigner ?
Steven ***************
Its minimum 51% thai shareholder regardless of how many thais . 1 or 41 doesnt matter.
4 million baht capital and 4 thai staff to get work permit for 1 foreigner..
Halve that if your spouse is Thai.
BOI and Amity Treaty are different again.
4 million baht capital and 4 thai staff to get work permit for 1 foreigner..
Halve that if your spouse is Thai.
BOI and Amity Treaty are different again.
Nathan ***************
@Steven **************
yes that is what I meant by thai partners equal in the business But I didn’t include that they have most of the power
My apologies I was just keeping it brief since there is going to be so many other complications
It’s hard enough just settling here married to a thai national lol
Steven ***************
Nathan . Not even close. Its thai majority ownership. And there are exceptions as Garrett mentioned.
Steven ***************
Come to thailand and spend an hour with a business lawyer here. Way too reliant on your personal information and plans to answer here
Steven ***************
@Maayan ********
. Try Garrett Greenwald's guys firstMaayan ******
OP@Steven **************
Thank you so much! I will set up a meeting next time I'm in Thailand.Steven ***************
@Maayan ********
. Try Silk Legal. Only heard good things about themMaayan ******
OPThanks Steven, and I'm well informed in all of those. Generally what I'm looking for is a recommendation of a good Thai lawyer / accountant :)
Steven ***************
@Maayan ********
. Not necessarily.. hence the advice to talk to a thai business lawyer. Eg. An Australian who earns an income here also must pay tax in Aust too. Just owning assets is enough. It all depends on where your income is being generated and where it's being paid. If 100% of your income is generated outside Thailand, then your not liable to thai income/business tax but you may be in the other countries depending on their tax laws.
It's too complicated for facebook advice.
Maayan ******
OPThing is, if I'm leaving my current place of residence and not paying taxes there anymore well.. I have to pay taxes somewhere. Naturally, Thailand should be that place since I'll be living there.
But ok, I'll move forward with #1 and #2 and see what comes up.
But ok, I'll move forward with #1 and #2 and see what comes up.
Steven ***************
Paying taxes in thailand isnt going to happen ulness you are employed here or have a registered business here. Sort out #1 and #2 before thinking about #3 because your answer will vary dramatically.
Maayan ******
OPThanks, see point #3 :)
Could you recommend anyone? I think an accounting firm would be more relevant.
Could you recommend anyone? I think an accounting firm would be more relevant.
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