Thai company and nominees. How not to be illegal?

[Fouche]

Hey everyone,


I am considering Thai setup as a foreigner but I don't want to go there and dive into visas and permits. I know locals can use nominees for their setups, but for foreigners it is illegal. How would you deal with that? Most of local agents refuse to give nominees

 

[wellington]

They do raids now and again and seize s**t... not worth it (nominees) and they are rather thickle about AML these days which is ironic seeing as the country was built on being in the middle and having a vast grey economy.

With luck the new PM will shortly be deposed and a new one or a return to a military government as the one waiting on the sidelines is even more 'American' than the current one.

FYI-> More than 200 arrested in Phuket nominee crackdown

In Thailand it's honestly better to own a company 'overseas' and ensure that company is at arms length... than operate within Thailand which can be very costly...

I remember when our division was closed down, staff were paid 3-6 months salary and were buying new cars because of the cash injection they got essentially for being laid off... and walking straight into new jobs (usually Government/Academia in our case).

If you wish to reside in Thailand dependent on what you want and how long you want to remain -> recommend Elite for long-term otherwise Exemption (fly in, fly out) max 6 x a year.

Note the Exemption is now 60 days apparently so that's technically, 60, 60, 60, 60, 60, 60 = 360 (1yr) as you can fly to KL and back same day and they won't bat an eye lid for the first 5 times, then 6th time they get shirty. (or used to)

 

[Fouche]

They do raids now and again and seize s**t... not worth it (nominees) and they are rather thickle about AML these days which is ironic seeing as the country was built on being in the middle and having a vast grey economy.

With luck the new PM will shortly be deposed and a new one or a return to a military government as the one waiting on the sidelines is even more 'American' than the current one.

FYI-> More than 200 arrested in Phuket nominee crackdown

In Thailand it's honestly better to own a company 'overseas' and ensure that company is at arms length... than operate within Thailand which can be very costly...

I remember when our division was closed down, staff were paid 3-6 months salary and were buying new cars because of the cash injection they got essentially for being laid off... and walking straight into new jobs (usually Government/Academia in our case).

If you wish to reside in Thailand dependent on what you want and how long you want to remain -> recommend Elite for long-term otherwise Exemption (fly in, fly out) max 6 x a year.

Note the Exemption is now 60 days apparently so that's technically, 60, 60, 60, 60, 60, 60 = 360 (1yr) as you can fly to KL and back same day and they won't bat an eye lid for the first 5 times, then 6th time they get shirty. (or used to)

wow, I felt that.

I see your exp here and I feel like I am taking route that is too old for now and not worth it. But I want to check it out remotely. Don't want to move there and even appear on papers. Check and go if it won't work.

If I use overseas company I won't be able to use local banks and second of all, I'd prefer paying taxes as local business and not bother with other "cheese taxes"

 

[wellington]

wow, I felt that.

I see your exp here and I feel like I am taking route that is too old for now and not worth it. But I want to check it out remotely. Don't want to move there and even appear on papers. Check and go if it won't work.

If I use overseas company I won't be able to use local banks and second of all, I'd prefer paying taxes as local business and not bother with other "cheese taxes"

1) local banks means local currencies and currency restrictions and now automated AMOL investigations for more than 300 transactions in a year or above 250,000
THB which basically means frictions behind the scenes and a lot of nosying to try and find something and fine it worse.

2) non-Thai currency accounts are lousy and all transactions have to be converted to THB before sending out or withdrawing - at a lousy rate and the fees are high - incoming foreign currency is quick and acceptable into those foreign currency accounts

3) taxes are horrendous / we did investment they asked us to do part of it as a revenue (forcefully) so they could tax (academic research - working with three universities with their students interning - we did that under pressure and advice as that’s just how it’s done - when we closed the company we were hit with a tax bill for depreciated assets that had to be paid assets that were essentially from “investment” and shipped externally to the other divisions outside of Thailand where they were again hit with a tax in both outbound and inbound.

4) Thailand has territorial tax meaning you can own a company in full or in part overseas and remit your salary/dividends and pay tax on - savings are tax free if prior to 2024 or taxed already and there’s an agreement in place - the company doesn’t come onshore just because you live onshore but does if you do business (trade from or sell to Thailand).

Otherwise it’s offshore and as it
Stands not taxed nor required to be reported.

 

[toums]

Note the Exemption is now 60 days apparently so that's technically, 60, 60, 60, 60, 60, 60 = 360 (1yr) as you can fly to KL and back same day and they won't bat an eye lid for the first 5 times, then 6th time they get shirty. (or used to)

I think sometimes less.. Personally, I entered in Thailand early january 2024 (30days exempt visa). Went in Vietnam the 30th day for few days. Back in Thailand got my second 30 days exempt visa + I extended by paying 1900baht for additionnal 30days at the immigration office

I left also almost at the end of these 60days, went again out for few days, and went I entered back (so it was my 3th entry with exempt visa) the IO stamped it but asked me how long I plan to stay again in Thailand, and higly recommend me to use a 'proper / long term' visa for my next entrances...

PS : I was just in Thailand for less than 2 months in 2023, and no entry during covid, so I never 'abused' of the system in the past years.

 

[Skenners]

They do raids now and again and seize s**t... not worth it (nominees) and they are rather thickle about AML these days which is ironic seeing as the country was built on being in the middle and having a vast grey economy.

With luck the new PM will shortly be deposed and a new one or a return to a military government as the one waiting on the sidelines is even more 'American' than the current one.

FYI-> More than 200 arrested in Phuket nominee crackdown

In Thailand it's honestly better to own a company 'overseas' and ensure that company is at arms length... than operate within Thailand which can be very costly...

I remember when our division was closed down, staff were paid 3-6 months salary and were buying new cars because of the cash injection they got essentially for being laid off... and walking straight into new jobs (usually Government/Academia in our case).

If you wish to reside in Thailand dependent on what you want and how long you want to remain -> recommend Elite for long-term otherwise Exemption (fly in, fly out) max 6 x a year.

100% agree. massive crackdowns the last few months. Siam legal might be helpful in structuring from outside of thailand.

Note the Exemption is now 60 days apparently so that's technically, 60, 60, 60, 60, 60, 60 = 360 (1yr) as you can fly to KL and back same day and they won't bat an eye lid for the first 5 times, then 6th time they get shirty. (or used to)

i used to get tourism visas for 60 days outside of thailand + 30 days extension in TH, fly to kl, update another 60 days and repeat. 4x per year. new visa on arrivals you can do the same, i think.
Digital Gonad Visa vs Elite is the bigger issue (in a new thread of course )

-Skenners

 

[cryptofriendly]

I think sometimes less.. Personally, I entered in Thailand early january 2024 (30days exempt visa). Went in Vietnam the 30th day for few days. Back in Thailand got my second 30 days exempt visa + I extended by paying 1900baht for additionnal 30days at the immigration office

I left also almost at the end of these 60days, went again out for few days, and went I entered back (so it was my 3th entry with exempt visa) the IO stamped it but asked me how long I plan to stay again in Thailand, and higly recommend me to use a 'proper / long term' visa for my next entrances...

PS : I was just in Thailand for less than 2 months in 2023, and no entry during covid, so I never 'abused' of the system in the past years.

Yeah, the current 'semi-official' rules are that most foreigners are limited to 2 land border crossings per year (not for Malaysians, etc.). Entry by flight is even semi-officially not restricted, but the BKK airport immigration guys might get a little bitchy and you might have to spend 30 minutes in a seperate room explaining with the good cop, bad cop scare (and maybe some tea money), before they let you in. Little tip: if you want to avoid that, you might want to fly in through CM or other airports, BKK is most strict.

I used to have a nice house with pool in Chiang Mai from 2003-2006, doing the Mae Sai visa exception stamps over the WHOLE PERIOD without any questions asked, and I thought it's a hassle then ;-)

 

[toums]

Yeah, the current 'semi-official' rules are that most foreigners are limited to 2 land border crossings per year (not for Malaysians, etc.). Entry by flight is even semi-officially not restricted, but the BKK airport immigration guys might get a little bitchy and you might have to spend 30 minutes in a seperate room explaining with the good cop, bad cop scare (and maybe some tea money), before they let you in. Little tip: if you want to avoid that, you might want to fly in through CM or other airports, BKK is most strict.

I used to have a nice house with pool in Chiang Mai from 2003-2006, doing the Mae Sai visa exception stamps over the WHOLE PERIOD without any questions asked, and I thought it's a hassle then ;-)

Yeah I don't know if many people can really get refused to enter in Thailand in that way or if its only some 'show off'..

I specify that it was only by air (flights) and yep I entered the 3 times in BKK or DMK.

 

[cryptofriendly]

Yeah I don't know if many people can really get refused to enter in Thailand in that way or if its only some 'show off'..

I specify that it was only by air (flights) and yep I entered the 3 times in BKK or DMK.

Some people really get refused and need to depart to other countries(check aseannow forum), but the immigration getting bitchy is unusual at the 3 entry by air. You must have been unlucky.

When standing in the immigration line, I am consciously avoiding the older FFF immigration officers (female, fat, and furious) and head for some tired looking guys who are just waiting for retirement and don't give a f**k.

 

[toums]

Some people really get refused and need to depart to other countries(check aseannow forum), but the immigration getting bitchy is unusual at the 3 entry by air. You must have been unlucky.

When standing in the immigration line, I am consciously avoiding the older FFF immigration officers (female, fat, and furious) and head for some tired looking guys who are just waiting for retirement and don't give a f**k.

But she asked me questions AFTER she stamps but before giving back my passport..

It was a woman yes, but like 'normal' thai in the 30yo.. Maybe lil unlucky or just a little show.. anyway she let me get in, and no need to go to the second inspection / room..

 

[cryptofriendly]

But she asked me questions AFTER she stamps but before giving back my passport..

It was a woman yes, but like 'normal' thai in the 30yo.. Maybe lil unlucky or just a little show.. anyway she let me get in, and no need to go to the second inspection / room..

She did this after giving you the stamp? You shouldn't worry much then.
Lots of immi people just enjoy their power and want to scare farangs, even without any reason, it's the land of fake smiles in the end.

 

[wellington]

I think sometimes less.. Personally, I entered in Thailand early january 2024 (30days exempt visa). Went in Vietnam the 30th day for few days. Back in Thailand got my second 30 days exempt visa + I extended by paying 1900baht for additionnal 30days at the immigration office

I left also almost at the end of these 60days, went again out for few days, and went I entered back (so it was my 3th entry with exempt visa) the IO stamped it but asked me how long I plan to stay again in Thailand, and higly recommend me to use a 'proper / long term' visa for my next entrances...

PS : I was just in Thailand for less than 2 months in 2023, and no entry during covid, so I never 'abused' of the system in the past years.

It’s just been changed 30 days is now 60 days and you can do 6 exempts a year - so 360 days

Officially it’s (previously) 6 and then they can reject you

But if there’s reasons I.e friend works in HK flies into thailand every Friday leaves Monday they just let it slide

Ok this just hit... seems they want to go after all income now.
https://www.thephuketnews.com/new-overseas-income-rules-92533.php

 

[Fouche]

100% agree. massive crackdowns the last few months. Siam legal might be helpful in structuring from outside of thailand.

they are not very helpful for now. but thanks

 

[JackAlabama]

they are not very helpful for now. but thanks

ideally look elsewhere in Asean if you want to hit it locally. Indonesia and Cambodia / Vietnam and Laos are more compelling, also Philippines but more difficult.

 

[Fouche]

ideally look elsewhere in Asean if you want to hit it locally. Indonesia and Cambodia / Vietnam and Laos are more compelling, also Philippines but more difficult.

Indonesian local told me yesterday - yeah, you could use nominee here but no one will ever protect you when director comes to bank and withdraws every cent and rides off into the sunset (to Java) lol.

I get it the stars are not on my side

 

[JackAlabama]

Indonesian local told me yesterday - yeah, you could use nominee here but no one will ever protect you when director comes to bank and withdraws every cent and rides off into the sunset (to Java) lol.

I get it the stars are not on my side

well the same is true everywhere in Southeast asia (or basically everywhere outside the western states), ex Singapore and Labuan.
As foreigner, you have 0 rights and lose against locals in the courts.

There are ways tho to mitigate this risk I knew/know a bunch of people who could handle that.

 

[turmpy]

So you better either relocate to Thailand if you want a business there or you stay away, is that the bottom line ?

 

[JackAlabama]

So you better either relocate to Thailand if you want a business there or you stay away, is that the bottom line ?

well, i cant answer this for you.

I know you can make good money, but it is not easy at all and you need to be well versed with how you need to operate 3world circumstances.
Best to stay on the ground and observe operations tightly but remain in the background. People need to feel your presence but not see you .

If you just want to test something out or aren't experienced in 3world affairs etc, id go for a much less developed market, since its generally easier due to less competition.

 

[cryptofriendly]

well the same is true everywhere in Southeast asia (or basically everywhere outside the western states), ex Singapore and Labuan.
As foreigner, you have 0 rights and lose against locals in the courts.

But there is more than SEA, and better value as well (at least at the moment).

You can buy landed property (land, house, etc) in Japan in your name as a foreigner, even if you are not resident and just come on tourist visa.

The only 'restricted' properties there are farms and water reserves, but one can overcome even this (lots of Chinese buying these, as a local looking Japanese company).

You can get amazing bargains if you aren't shy to fix places up, even cheaper than Thailand, and you might be able to leave it unlocked for 6 months without any issues - not like SEA.

This one is 3,000,000 JPY, less than $20,000 for the whole house, land and free ocean view.
Fix it up, and you got an amazing place for less than 50K. Still available today.
You can't find stuff like that anywhere else anymore, not for that price and in a quite safe jurisdiction.
Though not really for anyone who wants to save tax, but perfect for living in peace.

 

[Fouche]

well the same is true everywhere in Southeast asia (or basically everywhere outside the western states), ex Singapore and Labuan.
As foreigner, you have 0 rights and lose against locals in the courts.

There are ways tho to mitigate this risk I knew/know a bunch of people who could handle that.

True. And I can admit that the tiniest purpose of this thread was to find "a bunch of people who can handle that". So, if you have someone in mind let me know, I think we could find a way to connect with each other.