Working in Koh Chang: Starting a Business in Thailand
For visitors especially from abroad, Thailand seems a place where the middle class has some good amount of money to spend on things. Unlike the big cities such as Bangkok or Phuket, starting a business and working in Koh Chang are supposed to be very different. To begin working in Koh Chang with a business, a clear business plan and a healthy amount of capital are a must. Before making the decision of working in Koh Chang, a person has to be fully prepared mentally to adopt and mix in Thai culture. Choosing the right business is also a thing to double check. Working in Koh Chang is promising for the opportunities the place offers. Buying sea-side bungalows to make resorts, opening juice or drinks’ bar and restaurants are among the top businesses that foreigners pick to do for working in Koh Chang. Lastly, there should always be a safe “exit plan” ready while working in Koh Chang in case of any failures.
Working in Koh Chang: Thailand Work Permit Information
To start working in Koh Chang, a foreign owner of a business needs to have a valid work permit. Under the Ministry of Labor and Social Welfare, the Department of Employment provides such permits. Working in Koh Chang without a legit permit would be taken as a crime and anyone can be fined and punished for that. Working in Koh Chang cannot be allowed to foreigners with a transit or travel visa. People with a resident permit or a non-immigrant visa are eligible to get work permit for working in Koh Chang. The work permit given for working in Koh Chang will be valid for one year. A renewal would be necessary before the expiration to continue working in Koh Chang. The business must be operated in the location mentioned in the work permit.
Working in Koh Chang: Taxes in Thailand
While working in Koh Chang or in any other part of Thailand, every person has to pay the taxes. Any foreigner working in Koh Chang should apply for a taxpayer’s identification number issued by the Department of Revenue. To get that, a Thai identification card or foreign passport would be required. Businesses with self ownership or ordinary partnership may have 10% to 37% taxes on the net profit. For limited partnerships and companies, corporate income tax is issued at a rate of 30% on the net profit. People working in Koh Chang can pay their taxes in the local branch of the Revenue Department.
Working in Koh Chang can both be profiting and pleasant for a foreigner in love with the place. The open-mindedness to the Thai culture and an access over the language would be a great plus point for operating a successful business or work in Koh Chang.