Business Consultancy Service
The professionals in our Business Consultancy Service will provide you with trustworthy advice for all your business, tax, accounting and company needs. Our mission is primarily to relieve our customers from all troublesome issues and tricky bureaucratic pitfalls that might slow down the establishment process and hamper the growth of any small, medium or large enterprise, so that their owners can devote themselves full-time to look after and develop their businesses.
Setting up a Thai Company
If you want to start a business, first of all you are expected to set up a company, as foreigners are forbidden from conducting any business as sole traders. In short, to set up a limited liability company (L.L.C.) you shall have to follow the following steps:
- Notify your company’s name
- Register your company’s corporate capital
- Create your company’s logo and official seals
- Notify your company’s registered office
- Register your company’s VAT number
- First meeting of the Board of Directors
Trade and Professional Licenses
Once your company is established, our professionals will draw up all the relevant documents required to obtain the trade and/or professional licenses required to carry on your intended business. With our support you will now be able to start your business, whatever its activity may be – a factory or an import-export firm, a restaurant or a hotel – without ever bothering to show up in person at any government department or being interviewed by a government officer, all occurrences that – due to language misunderstandings – quite often may slow down your application and in extreme situations even derail it. In fact, our professionals will provide our customers with all they need, with a minimum involvement on the customers’ part, so that they can devote all their time to start and develop their businesses.
Work Permit and Yearly Visa
Once the company is established and the foreign citizen has obtained the required licenses and started his business, it is absolutely necessary to apply for a Work Permit, so that the foreigner who wishes to manage his company and work in it can do so legally and in compliance with all applicable laws. After obtaining his Work Permit, the foreigner can finally apply for a yearly visa and remain in Thailand without having to bother with the tiresome obligation to leave and re-enter the Kingdom every three months.
Accounting and Monthly Financial Statements
Once the company is established and in business, most customers are inclined to think that the hard part is over, but as a matter of fact it is exactly from this moment onwards that they need to submit clear, honest and extremely well-done company accounts… and that’s why their business accountant should operate in a transparent, professional and correct manner. Within the fifth day of every month, the Thai Government requires all companies to submit their financial statements for the previous month and to pay the relevant taxes. A faultless and clean accounting avoids having to pay heavy fines, and in the most serious occurrences even a civil or criminal action being brought against the company’s General Manager, who as a matter of fact very often is our foreign customer.
Yearly Financial Statements
Furthermore, within the first week of April of any current year the Thai Government requires all companies to submit their yearly financial statements; the Government has set the deadline for this further obligation so as to allow any companies, which did not pay their taxes in due time, to make good this violation and pay their overdue taxes with the addition of a more or less heavy fine, as the case may be depending on the length of the delay. This stage is also extremely important, because only by submitting his company’s proper financial statements a foreigner can not only safely extend his work permit and yearly visa for a further year, but also avoid paying fines that may become heavier and heavier as time goes by. For further information in Italian on timings and rates, please feel free to contact us by e-mail or mobile phone.