Anyone who created a company in Thailand/Philippines?

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WizIMS

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Hey guys,

So I decided to move to Philippines/Thailand and start my company there (I'm from Europe). Now, I'm looking at the options and trying to decide which city to target. For now, I believe Legazpi, Philippines looks the best city to be in (I also have some friends there).

What do you guys think? Any input will be appreciated
 
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It's complicated. I tried to set it up in Phil but gave up. Probably i didn't have the willpower. The complication mostly lies to the amount of money. If you have 5kUSD, go ahead and set it up but that's only the initial fees
 
I moved to Cebu Philippines nearly 2 years ago :) PM me if you're interested to chat. I could maybe point you in the right direction.
 
i have friends in the phil which do IM and they all have there companys in hongkong.
phillipines has disadvantages.
 
I am from Philippines and what kind of company you want to create?
 
I have traveled all my life and in that time have set up many companies around the world, like in HK all set up done paid - delivered with bank account et al in less than 2 days...

I tried the same in Thailand waste of time - nightmare - have to have local directors and more, paperwork - paperwork and more costs, eventually left me no option but to do business in Thailand ala under the radar...

By the way many folks who do business abroad set up work around entities to operate and not pay tax - many of the Asian countries have a work around if you juice some greasy palm...
 
W9go said:
i have friends in the phil which do IM and they all have there companys in hongkong.
phillipines has disadvantages.
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If youre gonna have people in Philippines working for you - then you will need a corporation in the philippines. However you will want to set up a BVI company with an off-shore hong kong bank account. This way you recieve all the money into your HK offshore account (TAX FREE) and then everytime when you need to pay your staff, rent etc in philippines, the philippines corp will invoice the BVI corp, which will then pay money into your philippine corp account. You probably wonder why you need the BVI corp linked to a HK offshore account, reason is just because its another layer of protection and its costs just as much as a HK corp. No need to set up a HK company... just more dollar and stress, I've done it before.
 
This is solid advice. I'm also in Cebu with a similar setup.

chuckleboo said:
If youre gonna have people in Philippines working for you - then you will need a corporation in the philippines. However you will want to set up a BVI company with an off-shore hong kong bank account. This way you recieve all the money into your HK offshore account (TAX FREE) and then everytime when you need to pay your staff, rent etc in philippines, the philippines corp will invoice the BVI corp, which will then pay money into your philippine corp account. You probably wonder why you need the BVI corp linked to a HK offshore account, reason is just because its another layer of protection and its costs just as much as a HK corp. No need to set up a HK company... just more dollar and stress, I've done it before.
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I have had three different companies here in the Phils all in SEO. It is hard to make good money and there are things you need to know about Filipinos. PM me if you need any info from someone who has experience in this area.

Frank
 
steelballs said:
many of the Asian countries have a work around
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This is absolutely true. Just read up on the laws and find/use some loopholes - and you should be avoiding taxes here and there.
 
Thanks a lot guys, I really appreciate your comments!

P.S. We'll be making websites, all have the same values. I'm going big with this and it's not just for making money. After a while I'm thinking of moving myself and the executives back to Europe.
 
PMed many of you guys. If anyone else has any other tips it'll really help me a lot!
 
I still didn't find anyone, please PM me guys
 
I have been thinking of moving to the Philippines and building a team. In the beginning, I think I would start with a virtual team. That way you can avoid infrastructure costs and fly below the radar. Of course this system comes with related issues - keeping employs productive would be an issue...

There is an interesting thread over on Traffic Planet that details one person's efforts to build an outsourcing office in the Philippines. I can't post the thread, but the title is called: Starting a Biz in the Philippines - Pics. The OP is Initial Effort.

I believe this person advertises their services on BHW as well.

Best of luck!
 
Starting a company in the Phills with employees can be basically tax free if you locate offices inside one of their special economic zones, such as Subic or Clark. However, it is difficult and problematic to deal with Filipinos in general. Chances are you will be hit up for a lot of additional exenses once you surface above the radar. The virtual solution is much more practical. The biggest issue is to motivate people to work and be productive. In my experience generosity is contraproductive. Better give them a free meal for showing up in time for work than to raise their pay when they perform well. For me the Philippines have been fine 10 years ago, but at this time it's become way to expensive for low productivity. Just my 2 Cents.
 
I've been wanting to start my own Web Company here in PH, problem is the there's a lot of paperworks / tax / plus greasy palm to pay. Not to mention the slow processing of papers. Making me think twice and move to HK. :)
 
ice41 said:
I've been wanting to start my own Web Company here in PH, problem is the there's a lot of paperworks / tax / plus greasy palm to pay. Not to mention the slow processing of papers. Making me think twice and move to HK. :)
Click to expand...
Did you do it man?
 
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