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BANGKOK 13 November 2018 11:25
farangchris

Getting a work permit + business visa as a software developer

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So i already found the Solution to get a work permit+business Visa with Iglu.

But Iglu is pretty expensive, because they're taking 30% of your income for this service and you need to earn at least 2.500$ per month.

Of course in this 30% are also the payed taxes - But it would still cost 600EUR+ per month which is pretty expensive.

 

I found another option with Coofice.asia, they're charging "only" 10.000 Baht per month if you don't need the co-working office.

And you need to earn at least 50.000 Baht per month during the requirements from BOI for working foreigners. So 50k - 10k for the service - 10% income taxes. That's the minimum.

 

But in my opinion 10k per month just for the visa & work-permit is still a bit expensive. It's still around 3.200 EUR per year only for the work permit ...

 

Does anybody knows other and maybe cheaper solutions to get a work-permit + business visa as a freelance software developer?

Edited by farangchris

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In these constructions you are working for them and you seem to have trouble with the minimum wage requirements. Why don't you get a job and earn some good money.

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3 minutes ago, FritsSikkink said:

In these constructions you are working for them and you seem to have trouble with the minimum wage requirements. Why don't you get a job and earn some good money.

Yes, i know that. But i would only work for them on the paper.

At the end i'm working for my own clients. My clients are paying me / my company, my company pays the Thai company and they'll pay me out my salary here in Thailand.

 

I don't have any problems with the minimum wage, i'm earning enough.

But in my opinion 10k per month just for a work-permit is pretty expensive, isn't it?

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9 minutes ago, farangchris said:

But in my opinion 10k per month just for a work-permit is pretty expensive, isn't it?

Then just set up your own company

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16 minutes ago, farangchris said:

But in my opinion 10k per month just for a work-permit is pretty expensive, isn't it?

I think that also includes your income tax and social security payments. Iglu breaks down their monthly fee.

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29 minutes ago, farangchris said:

Yes, i know that. But i would only work for them on the paper.

At the end i'm working for my own clients. My clients are paying me / my company, my company pays the Thai company and they'll pay me out my salary here in Thailand.

 

I don't have any problems with the minimum wage, i'm earning enough.

But in my opinion 10k per month just for a work-permit is pretty expensive, isn't it?

You get a visa too

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14 minutes ago, ubonjoe said:

I think that also includes your income tax and social security payments. Iglu breaks down their monthly fee.

The OP states:

Iglu charges 30% of minimum 2500 USD all included.

Cooffice.asia 10K + 10% tax.

Edited by FritsSikkink

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1 hour ago, FritsSikkink said:

You get a visa too

Yes, you get the Non-B Visa + work-permit, but they're not paying anything for the Visa - I pay it at the end.

 

1 hour ago, FritsSikkink said:

The OP states:

Iglu charges 30% of minimum 2500 USD all included.

Cooffice.asia 10K + 10% tax.

Correct. The taxes of course are depending on your Income. If you earn more then 500.000 Baht per Year it's 15%. 10% tax will only be charged if you're getting the minimum salary. 500k to 750k per year 15% etc. Iglu also provides a Co-working space with an internet connection etc. But i don't need a co-working space.

 

If i would pay me all out as a salary i would pay 25% ( 1,000,000 – 2,000,000 Baht per year ).

 

Anyway: So no one knows maybe a cheaper service for a work-permit+B visa?

Edited by farangchris

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7 minutes ago, farangchris said:

If i would pay me all out as a salary i would pay 25% ( 1,000,000 – 2,000,000 Baht per year ).

 

Only an idiot would use a service like this and pay themselves 2 million Baht per year through the service with their percentage rates and pay Thai tax on top of that.

 

The logical way would be to pay yourself the bare minimum allowed through invoices to your off shore corporation or maybe even personal invoices.

Edited by ukrules
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27 minutes ago, ukrules said:

 

Only an idiot would use a service like this and pay themselves 2 million Baht per year through the service with their percentage rates and pay Thai tax on top of that.

 

The logical way would be to pay yourself the bare minimum allowed through invoices to your off shore corporation or maybe even personal invoices.

Therefore i said if i would. And Cooffice.asia doesn't charge their fee based on your Income as i said. They're only charging 10k per month unlike Iglu.

 

And an offshore company would not make much sense, because you have your tax-residence in Thailand. Such a company - for example Hong Kong or even a Canada LP or UK LLP - etc. would only make sense if you don't have a permanent (tax) residence in Thailand or if you live in a country with territorial taxation or a non-dom system ... Like Malaysia, Georgia, Panama, the UAE etc.

 

Anyway, no reason to to be rude and saying other people are idiots ...

Edited by farangchris

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15 hours ago, farangchris said:

And an offshore company would not make much sense, because you have your tax-residence in Thailand. Such a company - for example Hong Kong or even a Canada LP or UK LLP - etc. would only make sense if you don't have a permanent (tax) residence in Thailand or if you live in a country with territorial taxation or a non-dom system ... Like Malaysia, Georgia, Panama, the UAE etc.

I am not an expert on this - so anyone feel free to correct:

 

The point would be to send into Thailand only the bare-min to meet the visa/extension/ requirements and pay tax on that.  This could be a "salary" paid to you by your company (or other ways) for "work" you are doing for your company. 

 

Any other money your take out of your offshore-corp would be capital-gains.  Thai taxes are only due on money remitted to Thailand in the year earned, so leave any other earnings offshore for a year.

 

16 hours ago, farangchris said:

Anyway: So no one knows maybe a cheaper service for a work-permit+B visa?

You just found a much better option than Iglu - thanks for sharing.  Iglu's rates were crazy-expensive. 

 

Consider that the Elite only costs 100K/yr for their 5-year option (500K Baht up-front, though).  I'm no fan of that program, but still less-expensive and less-hassle.  Granted, you would be working in a grey-area / technically-illegal (debate on this, but that's my opinion from the last time I looked at it).  Recent rule-changes for what is considered "work" have been relaxed, so any enforcement (not happened yet) is possibly even less likely than before.

 

To set up your own corporation in Thailand would probably cost as much or more to lawyer/accountant/fees, and requires 2M Baht capital.

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