So we have had multiple people share that they are confused about the money we are raising for the start-up capital. Some think it is a fee that needs to be paid to the government, others have said they were under the impression we raised it all already and some thought we just wanted that much money to start. I will attempt to clarify all that here.
As Americans we are privileged to be able to own 100% of a foreign company outright in Thailand. All other nationals require a 51% Thai ownership, which has many issues, usually resulting from greed or corruption. The thing is that the Thai government is not interested in just supporting Americans to come and take money from Thais as they see it, so they have implemented some stipulations;
- A foreign-owned company is required to have 4 Thai staff for each foreigner employed. (An assurance that the local people will be supported with jobs through allowing this company.)
- The owner of the company is required to pay the income taxes on an $830 usd income per month. (They are not required to keep that but can reinvest it in the company, the gov. just wants their cut.)
- An American company is required to bring in the equivalent of 2 Million Baht (current exchange rate about $56,000 usd) to be used for business expenses, i.e. start-up capital. (This money is to be accounted for each year when filing your end of year papers until it has been used up. It can only be used on company expenses, no personal purchases.)
There are a couple other stipulations but not relevant to this discussion. So the money we are raising is a government requirement in order to operate here. Technically it is required before we can get a work permit and begin work but the government realized that requiring you to have 2 million Baht in a company bank account before you were able to open a company bank account (work permit required to do that) was unreasonable. So the loophole is that we don’t have to show the capital until the end of the year when we file our paperwork. At least that is how it has been going for the last couple years, things change all the time here though and it is preferable to be in accord with the laws at all times. As further clarification, this money does not cover our personal expenses; food, personal housing, utilities, fuel, etc. This is only business related expenses.
So this is not a fee that is paid, we use it for our business expenses; rent, staff salaries ($170/month per employee at minimum wage), supplies, etc. As for where we are in raising that money, we have raised just over $5,000 toward that goal. That leaves over $50,000 left.
Thinking about that number seems like such an overwhelming figure, but as we sat and calculated it out, it really broke down to not be all that bad.
- If 100 people each pledged to give $50 a month, we would reach that goal. (That’s simply not eating out once a week, according to Google)
- If 50 people pledged $100 a month we would be there.
- If ONLY 15 churches pledged $300 a month we could spread the Gospel in this city of 12,000,000.
I know that for some people $100 a month may not be feasible. For some even $50 a month is not doable. But If we could encourage an entire church to make ministry to the people here in the 10/40 window a priority and sacrificially give just for 1 year, we could see an amazing impact take place.
This is the last time we will be asking for money. I wanted to make sure that I explained properly and there were no misunderstandings in anything, but now we leave it in God’s capable hands. The Bible says He owns the cattle on 1000 hills and He owns the hills too.
If you are interested in partnering with us in this venture to take the Gospel to Bangkok you can make your tax-deductible donation at the link below. If you desire to become a monthly donor, simply check the box marked recurring payment.
If you would like to make a donation toward our personal living expenses you may do so at this link below. We are hoping the business will support this by the end of the 1st year. You can also hit the recurring payment button on this option as well if you so desire. 100% of all donations go directly to the project specified. Jesus For Asia graciously supports the work here without taking a single dime from any of their projects. The only fee is if you use PayPal the PayPal fee is passed on to us. 100% of all checks go straight to the specific project.
Thank you for your support in this work. Anything we do is made possible only through your giving and prayers. By God’s grace, with the start of this business, soon enough we will only be needing your prayers.