I only have a 6 month work permit, but my friend has a year, why?
Thai work permits are available in denominations of 3, 6 and 12 months. 3 month work permits are usually issued to people who will not be working permanently in Thailand such as delegates from foreign offices, visiting business officials or company owners who are not located in Thailand. 6 month work permits are usually issued […]
We don’t have any income anymore, business is bad. What should I do with the company?
If for any reason your business takes a downturn and your income decreases or even drops to 0 then you have 3 options to consider regarding your Thai company. You can keep your Thai company alive while you investigate new ways of generating income or attracting investment and submit the yearly accounts and VAT returns […]
Taxes in Thailand, what do I need to know, if I only have a small business here in Thailand?
There are different types of taxes which you need to be aware of as a small business owner in Thailand. First of all there is personal income tax for you and your employees. If you are employed by your company and have a work permit then you need to pay tax on an income of […]
Why do we need to do a financial statement (they call the balance sheet ) for our company? If we don’t, what will happen?
All companies in Thailand have to prepare and keep accounts, even if the company has just been used to buy property it must still submit a balance sheet at the end of the year. The accounts have to be drafted according to the Thai Accounting Standards formulated by the Institute of Certified Accountants and Auditors […]
I have a samll guesthouse (12 rooms), Do I need to have a hotel licence?
What is Vat in Thailand, how does it work? When do we have to have this?
VAT is value added tax, a Thai company needs to register for VAT within 30 days of their turnover reaching 1,800,000 THB. VAT is a tax on the sale of goods or the provision of services and the current rate is 7%. If you provide services to […]
Thai with holding tax
Important information about Thai withholding tax
BOI Application
Foreigners wishing to establish a business operation in Thailand should take full advantage of the government’s Board of Investment (BOI) services. Availing of their services is a highly effective way to understand exactly what is permissible, how an application can be made, and how to take advantage of the many incentives offered by the board. […]
90 Day Reporting
Any foreigner staying Thailand for more than 90 days and holding a Non-Immigrant Visa will be required to report their current address to the Thai immigration Department every 90 days. This can be done in person, by a friend, relative or work colleague, via registered mail, or in some cases online. Regardless of who actually […]
How to setup a business in Thailand
Many foreigners who plan to reside in Thailand long term plan to set up a Thai company and run their own business here. There are many reasons for wanting to do this but one of the most common reasons is security here in Thailand and not relying […]