Starting A Freelance Business (Limite Partnership?)
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Posted 2012-07-12 02:19:38
My scenario is the following one:
I am planning to start a business in Thailand (Bangkok). I will do remote work for my clients who are located outside of Thailand. In other words I will send invoices every month to my clients and they will pay for my Thailand based company. Basically this business is a freelancing business and I have no aim to grow it or hire more people, etc. I don’t really have any tangible assets, and I plan to keep it that way. I just have my computer, know-how and some cash.
I am married to a Thai woman, who has her own business (it is a “freelancing” business (I don’t know the correct term – but it is not a limited company)). I trust my wife, so this part should not be an issue. Anyhow, we want to keep these businesses completely separated from each other.
I have the normal two goals: 1) to do everything by the law and immigration rules (have a work permit, pay taxes, etc.), and 2) to be able to stay in Thailand with least possible amount of visa&extension hassle (well, I might need to travel outside Thailand every few monts, so maybe this second part is not so important).
Given the above circumstances, what would you recommend for me?
I have read quite a lot about the limited partnership type of a company. Would this be the easiest and possibly the best solution for me? I would do this of course with my wife. And then we would need any other Thai employees? If I understand everything correctly my wife would own the major part of the company and have the access to the company bank account? She would then pay me my salary (~ revenue minus costs) each month. Should we pay a salary for my wife too?
Additional question is about the possible office. After reading thaivisa and other sources I came up with an assumption that if I want to have a company and/or work permit, I should have an office (although I would work from home)? And possibly our home (rented house) cannot be the office? Is this a valid assumption? Basically currently my wife has a small office for her business, and I guess I could use that sane address – but we are planning to move to a bigger house and my wife is planning to use a room in the new house as her office (similarly to me).
And would this all have an effect to my wife? I mean she being involved in two companies then?
So many questions. Maybe better to come to meet you, but I would at least get some suggestions beforehand. Thanks.
Posted 2012-07-13 13:29:13
We have phoned the Labor Office Hotline in Bangkok to double check as we know there have been issues with Ltd Partnershps and they say it is possible to obtain a work permit on a Limited Partnership, if you are not in Bangkok it is always best to check with your local Labor Office first.
A disadvantage of setting up a limited partnership is that the Director must be Thai, meaning that as a foreigner you will not be able to open a business bank account. The other complication relates to the Non-Immigrant business visa and work permit. The Labor Office may opt to issue only a 90 day work permit as opposed to a one year. In this instance your Non-Immigrant business visa would follow suit and need to be renewed every 90 days. A Thai limited company is an option that you may wish to consider as you will be able to obtain a work permit and can be a Director in the company.
Additionally, there is potential unlimited liabiity in a limited partnership for both partners.. Limited companies are good for most people because of this fact.
For more information on the company set up process, please contact Sunbelt Asia for a free consultation at your convenience on 02-642-0213.
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