josephbloggs

"Is a buyer likely to run into any trouble some time down the line?"

YES

Hi Powderpuff,

Could you elaborate on that please?

Hi guys,

I'm in the market for a new Audi TT. Buying from Audi they are over 4 million. But I was speaking to the guy at F1 Auto at the motor show at Impact on Saturday and he is selling them - brand new with S-Line spec, quattro 4WD and an ABT upgrade - for 2.99 million. He was obviously unwilling to explain how it could be so cheap. He also has A6 3.0 TDIs for 2.99m, and a brand new Cayenne Hybrid is 5.99 million. Ridiculously cheap prices (for Thailand). He offers a 1-year warranty.

Is this legit or are there some dodgy mis-declared import shenanigans going on? F1 Auto seems to be a big company with a large flashy showroom - it's not some tinpot shed.

Is a buyer likely to run into any trouble some time down the line or is there nothing to worry about? You know what they say - if something sounds too good to be true....

Any input appreciated.

I use True and have their 8Mbps package. I know True get some stick but I have no complaints at all - I am very happy with their service and I often get speeds beyond that.

I regularly play PS3 online (COD, Uncharted 2) and never have any issues (apart from other people being better than me and generally dying alot).

It's around 1,100 or 1,200 baht a month, I can't remember exactly.

Hi,

I don't know about TMB but you can register for Bangkok Bank's internet banking from their ATM machines. I did it recently and it's very quick and simple - no need for any documents. I'd recommend just doing it that way.

See here.

Buy an old company (over 2 years).

Many for sale

Should be around 30.000 baht for a shell company.

Then you can get extension of stay right away.

Not true, unless the company has been actively trading in the previous years, with sufficient turn over to satisfy immigration that the company will be able to pay for the foreign employee(s).

Rule of thumb is that turnover should be at least a year's worth of salary for the foreign employee (12 X 50000 = 600,000).

Which would be unlikely with a shell company sold at 30,000 Baht!

Additionally I do not trust buying "second hand" companies, there is simply no way to check whether they have debts or not. They might have bought stuff on 90 days credit, you might get bitten in the behind!

So considering this rule, does that mean that NO start-up company can employ foreigners without them faffing around with re-newable three month non-immigrant Bs for two years? Is there any difference depending on the size of the company? The capital investment in this case (in total, not from me) will be in the region of 100 million baht. Does that not have any bearing at all? Also, I have been living and working here legally, paying all my taxes, with a series of one (sometimes two) year visas and WPs for 13+ years. Is this taken into account at all?

I should point out that we will not be buying a shell company but will be setting one up from scratch, although with a local partner who already owns several established and successful companies.

Again, thanks for the replies, keep them coming!

If you are purely an investor and don't work at the company you don't need a WP. If you invest more then 10 million baht you can get a visa and extensions based on your investment.

If you do work at the comapny, even signing papers would be considered working, you would need a WP. I understand it is a new to form company, so for the first 2 years you will need to stay on multiple non-B visas, as for 1 yearly extensions the company would need to show tax paper over the last 2 years.

Hi Mario,

Thanks for the reply. Very interesting. As I will certainly be working there I will need a WP then, that's fine. But I wasn't aware of the two year tax thing. Does that mean that I (and any other foreigners we might employ) will have to leave the country every three months to renew our non-immigrant Bs, or can it be done from inside the country once you've initially entered on one?

Hi folks,

I have lived and worked here for numerous years as an employee of a Thai company. I don't have Thai residency as I have never got round to applying. I am leaving my current job to join a start-up company in which I will also be a registered shareholder/investor.

After I leave my present company will I have to leave the country and apply for a non Immigrant B back in the UK (or wherever)? Are the rules for work permit applications different if you are in investor in the company too? I have been told that maybe you don't even need one but I find that hard to believe. Is the process any different at all?

I would appreciate any repliues or any information anyone can share with me on this topic.

Thank you.