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Is it necessary for my business in Thailand to generate 50,000 baht per month for visa purposes?

Thai Business VisaWork PermitIncome RequirementsBusiness RegistrationImmigration RegulationsRegistered CapitalEmployment of ForeignersTax Obligations
Aug 29, 2023
a year ago
Jackson *******
ORIGINAL POSTER
In my research to get a business started with visa/wp, I'm learning that the business needs to make a 50,000b income per month. Is this true?

Any idea where this needs to come from or how it's shown? For example, if I have income coming in, but not necessarily from the business, does that count?

Also, would the business actually have to make 50,000b, or would I essentially just have to pay the 20% tax and that covers it?

I've also been told, if the company doesn't make that per month, there's a good chance the wp won't be renewed after the first year. Is this true?
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TLDR : Answer Summary
To start a business in Thailand and apply for a work permit, it is essential that the business demonstrates sufficient revenue, typically needing to show a monthly income of 50,000 baht to justify the work permit for a foreign employee. This income must typically originate from the business itself, and the company must also meet capitalization requirements, including having 2 million baht in registered capital and employing Thai nationals. Failure to meet these criteria can jeopardize visa renewals.
Dave *********
2 m baht is the registered share capital of the Ltd it does not have to be deposited in a bank or even shown as cash

That allows 1 work permit which pays a minimum of
*****
baht per month in wages to the work permit holder

The Ltd would have to employ 4 Thais as well to be able to apply for the work permit
a year ago
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James *********
I think best to ask a business attorney or accountant.
a year ago
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Frank **********
If your business cannot make that much in one month, then forget about it.
a year ago
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Jackson *******
ORIGINAL POSTER
@Frank *********
flippant and not insightful answer. Does it matter where the money comes from? Or just that I pay the tax on 50,000b (which I can do).
a year ago
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Jackson *******
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John **********
You can't just start up a company solely for the purposes of obtaining a visa, the company must be able to show the visa is necessary. As to the work permit why would you need one if you're not going to be working?
a year ago
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Jackson *******
ORIGINAL POSTER
@John *********
Where did I say I wouldn’t be working? That’s an assumption.
a year ago
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Jackson *******
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Erwin ********
The company has to show there’s enough revenue to pay for the foreigner’s salary.
a year ago
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Jackson *******
ORIGINAL POSTER
@Erwin *******
that seems quite broad, and as we know Thailand, there are surely loop holes around us, such as “how” does the revenue goes in the company. Again my question is literally, if I have the income but it doesn’t necessarily go through the company, and I, for example, pay the company for a “service” where the money then essentially goes back to me minus taxes?
a year ago
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Erwin ********
@Jackson ******
 I’m not sure what you are trying to accomplish, but for a workpermit, the labor department needs to see that the company has the revenue to hire a foreign employee. So just create some invoices to Somchai for a service, pay them from a personal account, and the company pays you salary. You do lose VAT (can credit against paid Vat to suppliers)and withholding tax depending on the service invoiced.
a year ago
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Jackson *******
ORIGINAL POSTER
@Erwin *******
 this is the answer.. thank you
a year ago
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Jackson *******
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Will ************
You will need to have 2 million baht as registered capital up front before you can even start a business
a year ago
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Sean *******
@Will ***********
 what exactly does that mean? 2 million in the bank?
a year ago
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Erwin ********
@Sean ******
 no, that’s the limited personal liability which amount has to be paid up by the shareholders. The company can use that money as it see fit. So in essence the shareholders can never lose more than the 2m put in when the company goes bankrupt. (With exceptions).
a year ago
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Jackson *******
ORIGINAL POSTER
So.. not only do these comments have anything to do with my question which is not about the 2 million (I’m well aware of)

- it’s 2 million, but when the company is started with 1 thai and 1 foreigner, the stipulation is the bank account has to show a bit over 200,000b, when the business is created. Thats it, it’s not something that gets checked again (is my understanding from a number of sources)

- it’s not dead money as there is no requirement for the 2 million to remain in the bank.
a year ago
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Jackson *******
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Will ************
@Sean ******
 effectively 2 million of dead money
a year ago
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Will ************
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