What is a 100% Export Company in Thailand?
It is a limited company with a structure that is not covered by the Thailand Foreign Business Act and therefore allows 100% foreign ownership.
What can I do with this kind of company?
The company is limited to a few objectives. It is allowed to import goods and to change them, manufacture goods in Thailand but the company always must export l 100% of the product to abroad.
Is there something I am not allowed to do?
All that is not in the objectives in Thailand and of course not a single item can be sold in Thailand. In addition it is important to keep a good track of raw materials and waste in order to proof that it is not sold inside Thailand.
Common work permit question for this setup
Do I have to hire Thai staff for my work permit?
Yes, the standard obligation is having 4 Thai employees and paying taxes to the Social Security and Revenue Department.
How much registered capital do I need for a work permit?
The standard rule is 2 million Baht registered capital. There is an exception for people married to a Thai citizen to be only 1 million Baht registered capital.
Is there something else to consider?
It is quite common that a foreign investor forgets the requirement of having a registered address and to maintain it. This is as well important as the Ministry of Labour does require an actual physical working space. In addition to this Thai law does require to keep a minimum of 3 shareholders at all time.
Even operating your business with a 100% Export company does sound rather simple there are several exceptions to the above mention i.e. license requirements, higher Thai shareholding requirements, Thai directorship or even more favorable structures.
We are looking forward to help you grow your business and as well to receive your inquiry soon.
|■ Legal foreign ownership||■ More strict accounting required|
|■ Slightly cheaper setup fees||■ Limited to certain business objectives only|
|■ Cannot sell anything inside of Thailand|
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