How A Thailand Accountant Can Help Start Your Business
If you are searching for a Thailand accountant to help you run your business, look for someone or a company that has had extensive years of experience. It’s undeniable that a reputed and reliable accounting person will play a key part in the operation, especially when your business needs to do some accounting and taxation in Thailand. If you’re a foreigner wanting to do business in this country, you’ll note that the system works differently than your home country.
To start a company in Thailand, one of the very first persons you will be talking to is a Thailand accountant, who will handle your legal matters from registering the company, handling the daily accounting operations, and when your company shuts down, if ever.
Why Do You Need One?
If you run a business in Thailand, you’ll need an accounting service. If you don’t use the accounting services, your company can still operate; however, it can only work if you have an accounting degree in Thailand; are familiar with the taxation rules, regulations and other corporate legalities of the country; willing to handle the accounting operation yourself; and, can find an auditing company to audit your financial statements.
It’s expected that no everyone working for your company can do accounting. In Thai regulations, you must have finished a degree in accounting from a Thailand university and be listed as a Thailand accountant at the Department of Business Development. On a yearly basis, you need to find an auditor to review your financial statements, which is prepared by a certified accountant.
For specific types of businesses, you can only operate legally if you have secured a licence. If you’re opening a restaurant, hotel, bar, construction company, recruitment, travel agency, importer, exporter or financial institution, you need a licence to legally operate. If you use an accounting service, the Thailand accountant will simplify your needs when dealing with the right government agency.
Visa and Work Permit
If you’re working with a foreigner in your company, the Thailand accountant can help issue a visa and work permit for him or her. They may not be familiar with what immigration lawyers know, but they can assist in obtaining these documents for yourself or your employees.