Accounting and Taxation Outsourcing

YrS can help you with your accounting requirements in Thailand, providing you monthly accounts and annual financial statements (including Profit and Loss and Balance Sheet), using Thai Accounting Standards or International Financial Reporting Standards if required. We have licensed accountants and auditors, as well as bookkeepers on our staff. We are able to provide accounting services and documents translated into English.

You can outsource to us either your day-to-day accounting and tax compliance obligations or more complex tasks. You can also choose the level of service you need. 

If your business is in need of a high level accounting resource but you cannot justify a full time recruitment, then one of our senior accounting managers can provide consultation on a flexible basis. 

Our accounting outsourcing experts come from a wide range of industries and backgrounds. We can build a bespoke accounting team to suit your needs - whatever the size of your company.

Accounting and Financial Support: at YrS, we can support you during periods of understaffing, and provide access to expert advice.

Business Registration Service

If you are considering the prospect of establishing a Thailand branch of an existing company or starting a new business in Thailand, there are numerous factors to consider and decisions to make, particularly if you wish to proceed in accordance with Thai company law.

What type of business entities can be incorporated in Thailand?
Businesses can be incorporated as sole proprietorships, limited and unlimited partnerships, private limited companies, public limited companies, and branch, representatives, and regional offices.

How much capital is required to assemble a company in Thailand?
The minimum capitalization for a Thai company is 100,000 baht, however, this is generally the lowest amount of capitalization required. An international company with foreign shareholders normally requires a registered capital of 2,000,000 baht, in order to support a visa and work permit for a single non-Thai national. However, in order to obtain a license for certain business activities, normally a greater capitalization amount may be required.

How long does it normally take to incorporate a company?
The amount of time required for incorporation in Thailand depends on the type of company that is incorporated and whether the company is incorporated under the treaty of Amity or the BOI. A basic company can be incorporated in as few as 2-3 days.

Audit

It is a requirement that every company in Thailand has an annual audit prepared by a licensed accountant (regardless of whether the company has traded or not).

Failure to comply with these regulations will result in a summoning from the police department to resolve the issue. The resulting penalty can reach 100,000 Baht which is a large price to pay.

Our business partner team comprises Thai qualified CPAs, conduct an examination of accounting records in accordance with International and Thai Generally Accepted Auditing Standards Statutory Financial Audits in accordance with Thai Financial Reporting Standards

Agreed-upon Procedures

The Engagement Audit team has the experience and flexibility to perform a wide range of other ad-hoc assurance/attest engagements for both financial and non-financial information according to management’s determined scope.

Payroll Outsourcing Service

At YrS, we can support you with a comprehensive payroll outsourcing service. Our service provides increased levels of confidentiality, greater efficiencies and enables you to concentrate on your core business. Most importantly, we will ensure that your staffs are paid on time.

Payroll Service

Our payroll outsourcing service will help you to comply with Thailand’s regulatory requirements and can be tailored to meet your individual company needs. Services provided include:

• Managing and processing payroll, providing you with a comprehensive computerised payroll service with secured payslips and report.
• Preparation of Social Security Fund report and returns.
• Preparation of Withholding Tax Certificate and returns.
• Administration of your company’s Provident Fund.

Social Security Fund and Workmen Compensation Fund Service

• Registration and preparation of social security and compensation fund registration
• Preparation of payroll registered

Visa and Work Permit Services 

We operate a highly efficient and cost effective work permit and visa processing service which also assists in preserving the confidentiality of payroll and other sensitive areas of your business.