Answered3 years ago
Is it necessary for my business in Thailand to generate 50,000 baht per month for visa purposes?
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?
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?
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.
15 repliesnewest first
Click comment and we will ask for your email, then OTP, then name.
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
The Ltd would have to employ 4 Thais as well to be able to apply for the work permit
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
James *********
I think best to ask a business attorney or accountant.
Frank **********
If your business cannot make that much in one month, then forget about it.
Jackson *******
OP@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).
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?
Jackson *******
OP@John *********
Where did I say I wouldn’t be working? That’s an assumption.Erwin ********
The company has to show there’s enough revenue to pay for the foreigner’s salary.
Jackson *******
OP@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?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.Jackson *******
OP@Erwin *******
this is the answer.. thank youWill ************
You will need to have 2 million baht as registered capital up front before you can even start a business
Sean *******
@Will ***********
what exactly does that mean? 2 million in the bank?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).Jackson *******
OPSo.. 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.
- 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.
Will ************
@Sean ******
effectively 2 million of dead moneyActivity
8 joined8
people
Related
25Will I be approved for a DTV visa in Thailand if I have a registered LLC in the US and some savings but also work for a US company?
3.1k28296mo
What is the process to obtain a work permit or work visa to start a business in Thailand?
3k3281y
Can I obtain a DTV visa for freelancing in Thailand with limited income but sufficient funds?
1.4k1431y
What documents do I need to apply for a DTV workcation as a self-employed individual in Ho Chi Minh City?
1.2k961y
What are the legal steps to distribute or sell imported products in Thailand as an expat?
2.7k13401y
What additional documents are required when I've already submitted my employment contract and payslips for a Thai visa application?
791511y
Do I need a work permit for digital work in Thailand if my income is from work done outside the country?
3.9k32302y
What are the requirements and process for setting up a business in Thailand as a foreigner?
2.4k16222y
What are the costs and requirements for applying for a work permit as a General Manager in Thailand?
1.2k782y
What documents does immigration require to switch to the 40k per month method for a non-O marriage visa extension in Thailand?
1.2k853y
Can I renew my Thai visa based on marriage if I get a work permit and earn 40k THB for three months?
1.4k1194y
Will my previous Non-B visa issue affect my future applications?
1.2k5154y
Can I apply for a work permit while on a 'Thai husband' extension instead of changing my visa?
1.6k10164y
What is the process for obtaining a business visa in Thailand and what are the requirements for starting a business?
2.9k19334y
What are the requirements for extending a Non-O visa with Thai children regarding bank statements and income?
47045y
How do I prove an income of 40,000 baht for a marriage visa in Thailand, and are there restrictions on using my funds?
1.1k625y
Can I apply for a business visa or work visa in Thailand if I'm retiring and my wife has a farm?
1.3k1066y
What Should I Do if My Work Permit Application is Delayed in Koh Samui?
1.6k11147y
Can I renew my Non-B visa in Thailand, and do I need a Thai lawyer for the WP3 form?
1.9k16127y
Which location is better for obtaining a Multiple Entry Non O Visa based on marriage: Savannaketh, HCMC, or Vientiane?
34517y
What steps do I need to take if I change jobs and provinces while holding a Non-B visa and work permit in Thailand?
684338y
What are the rules for renewing a Non-Immigrant B visa and work permit in Thailand before their expiration date?
1.2k678y
What are the costs and tax obligations for opening a company and obtaining a work permit in Thailand?
948638y
What are the pros and cons of a Non-O visa versus a Non-B visa for a foreigner with a Thai child?
562138y
Can Lao Nationals Work in Thailand Without a Special Visa or Work Permit?
3.8k28309y
Resources
Need help with your Thai visa?
#1 visa agent · 4,000+ reviews · 100,000+ expats served