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What are the best locations for setting up an LLC as an expat in Thailand?
LLCThailandexpat businessoffshore companyinternational taxNew MexicoWyomingSingaporeOregonPanamaHong Kong
Feb 29, 2024
2 years ago
Mitchell ********
ORIGINAL POSTERWhat location is everyone setting up there LLC and why
TLDR : Answer Summary
The discussion revolves around various locations for establishing an LLC as an expat in Thailand. Participants mention different jurisdictions like New Mexico, Oregon, Panama, and HK, citing reasons such as ease of setup, tax implications, and legal considerations. Key points include the impact of a foreign LLC's standing in Thailand, the tax advantages of maintaining assets outside Thailand, and the ongoing debate about the relevance of US LLCs for expatriates. It's suggested that professional advice may be necessary for those with substantial assets, and a recommendation is made to consult with American International Tax Advisers.
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Duncan *******
I've recently been looking at Wyoming.
Shayne **********
Talk with
@American *****************************
about the best onshore or offshore options for companies.@https://www.facebook********************
Javier ********
US LLC is the cheapest option, around 30$ a year in maintenance and 50$ for formation.
Javier ********
@Chris ***
the IRS can only audit tax payers, a foreign owned LLC is not a tax payer in the US, but in the country of residence of the owner.Javier ********
@Chris ***
I don’t trigger any taxable event because I’m not a us citizen or resident and my company doesn’t have permanent establishment in the US.So I owe 0 US taxes no matter how much money I move through the company.
I just need to report the balances at the end of the year
Mitchell ********
ORIGINAL POSTER@Javier *******
is it what the call a pass through entity? I’m suprised with the costs your quoting I would have thought set up and maintenance would be around the $500 a yearJavier ********
@Chris ***
there are no audits for foreign owned LLC as there is no tax dueMitchell ********
ORIGINAL POSTER@Chris ***
can I pm you Chris? If you have 4 LLC I would like to think that you have some really good informationMitchell ********
ORIGINAL POSTER@Chris ***
thanks mate pm sentReply to
Mitchell ********
Reply
Javier ********
@Chris ***
I file as a foreign corporation form 5452 but I can do it by myself in 30minJavier ********
@Chris ***
forming an LLC in New Mexico is 50 USD and registered agent is 30 USD per year. No more expenses.Maybe you should do a bit of research.
Chris ****
@Javier *******
I guess you don’t file taxesReply to
Chris ****
Reply
John *******
If u live in Thailand, I heard something about Singapore a few years back. Easy to set up in a member of the Asian countries.
Phillip ********
@John ******
Singapore is expensive and has corporate taxReply to
Phillip ********
Reply
Danny *******
No US LLCs are relevant overseas.
Steve **********
@Danny ******
I'll ask a simple Q.Why is Dick Cheney et al living in Wyoming.
A bit of due diligence answers your Q
Danny *******
@Steve *********
What has this got to do with Thailand?Steve **********
@Danny ******
why do you ask ?Danny *******
@Steve *********
Because you asked me the question about Wyoming and I hadn’t asked a question.Steve **********
Reply to
Steve **********
Reply
Danny *******
@Dennis ********
What this means is a foreign entity (LLC, corporation, etc) can be a shareholder, member or partner in a Thailand company but only in selected categories…Dennis *********
@Danny ******
in Thailand any foreigner can only operate in selected categories and i don't believe that you are correct on the other part. Unless you can point to something that specifically states us llcs can't operate overseas, they are just a different type of company than a c corpDanny *******
@Dennis ********
Yes, they can operate but only within a Thai company not outside one. Foreign individual, foreign LLC, foreign corporation …all the same in Thailand. They all have to be inside a Thai company.Reply to
Danny *******
Reply
Dennis *********
@Danny ******
don't think that is actually correct then again why would someone want toReply to
Dennis *********
Reply
Tyler *******
Panama obviously
Ken ********
Oregon was good
Steve *******
Isn't Hong Kong a great option?
Phillip ********
@Steve ******
bureaucratic nightmareReply to
Phillip ********
Reply
Danny *******
Never mind your profile says it all.
Mitchell ********
ORIGINAL POSTER@Danny ******
you got me what does my profile say?Danny *******
@Mitchell *******
I think you know,Mitchell ********
ORIGINAL POSTER@Danny ******
I think people reading your reply and seeing your profile pic says a lot about you lolDanny *******
@Mitchell *******
Go away troll.Mitchell ********
ORIGINAL POSTER@Danny ******
if I recall you are the one that comment on my post making assumptions about me, that offered no help. If you don’t like what you see please move alongDanny *******
@Mitchell *******
LLCs in Thailand aren't location specific.Mitchell ********
ORIGINAL POSTER@Danny ******
I’m asking for what countries/jurisdictions people are setting them up in and why. Many differences and benefits out thereDanny *******
@Mitchell *******
A LLC organized in a foreign country has no standing in Thailand.Mitchell ********
ORIGINAL POSTER@Danny ******
yes that is correct but my assets being outside the country are also not going to be taxed unless I remit them into the countryDanny *******
@Mitchell *******
How is that relevant to your question and Thailand?Mitchell ********
ORIGINAL POSTER@Danny ******
you need a company structure to hold your assets outside of Thailand and I’m asking people in Thailand what structures they prefer living there incase there is something I have over looked.I don’t see any point to this conversation, besides being a waste of time as it doesn’t help with the question asked. Have a good one mate
Danny *******
@Mitchell *******
I totally agree, a waste of time. If you have those kind of assets you should be paying for professional advice not relying on free advice from FB warriors. You know the saying ... FB advice is worth exactly what you paid for it. 😆Mitchell ********
ORIGINAL POSTER@Danny ******
no I don’t otherwise I wouldn’t be asking.Danny *******
@Mitchell *******
Your account is brand new, zip information and history. Nada. You are fishing for something that doesn't exist in Thailand so everyone should be aware.Mitchell ********
ORIGINAL POSTER@Danny ******
I’m new to this page yes, my profile is also locked so no you can’t see anything.What exactly do you think I’m fishing for with asking about LLC people are using in Thailand?
Reply to
Mitchell ********
Reply
Phillip ********
New Mexico is explained why its the most superior destination for setting up an LLC in here
*******************************************************************
Mitchell ********
ORIGINAL POSTER@Phillip *******
thanks mate I’ll check it outPhillip ********
Phillip ********
@Mitchell *******
They say Wyoming LLCs a are also good but ultimately NM is the most superiorKen **********
@Phillip *******
NM. ???Reply to
Ken **********
Reply
Darren ********************
UK so I have a tax paying history back home. Might need it in the future.
Phillip ********
@Darren *******************
You don’t need a company in your home country to have a tax paying history at home.Reply to
Phillip ********
Reply
Nigel **************
LLC ???
Mitchell ********
ORIGINAL POSTER@Nigel *************
setting up a company for tax benefitReply to
Mitchell ********
Reply
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