Thailand has many opportunities for companies looking to expand, with a population of more than 69 million people and top industries including tourism, textiles, and agriculture. Payroll and labor requirements are changing each year, so it is important to stay ahead of new updates to maintain compliance.
Companies must be registered with the Ministry of Commerce, the Department of Business Development, Social Security, and Workmen’s Compensation Fund. Companies must also obtain a tax ID from the Revenue Department before beginning operations. Some payroll and labor considerations include:
- Minimum wages range from THB 313-336 based on the location
- Collective Bargaining Agreements can be created at the industry or company level
- New employees should be registered with the Provident Fund and the Social Security fund
- Income tax and social security are withheld from employee pay
- In accordance with the laws of Thailand, an employee is entitled to annual sick leave of up to 30 paid working days per year. If the employee is out for 3 or more consecutive days, the employer has the right to request a medical certificate. If the employee was injured or became ill at work, the days out cannot be deemed sick leave
- Foreign workers must apply for a non-immigrant visa as well as a work permit
Employers have to provide several reports each month including SSO (Social Security Office), income tax, and provident fund reporting. Blue Marble offers pension management services, starter and leaver assistance, and global consulting services in addition to the payroll and reporting services in Thailand.
Funding payroll in Thailand is flexible. You can utilize Blue Marble money movement services to fund payroll in USD and we settle in the local currency. If you have a local bank account, you can pay employees directly, or if you do not have a local bank account, you can send funds to the in-country payroll team and they can pay employees on your behalf.
Blue Marble has created one platform to easily manage your employees in Thailand. Our cloud-based software with customized reporting gives you real-time access to your payroll across all countries and currencies. Our hybrid service model gives you a US-based service team and direct access to in-country experts when questions come up to ensure compliance with local payroll regulations. To get started in Thailand, or to improve current operations, click here