Ext of stay based on owning a business with wife

[ghworker2010]

I'm currently a teacher and thinking of going into business with my wife who has high earning potential. I would paying for the purchase of 1/2 a building. She would borrow her half from the bank. 

 

The decision I face is whether or not to quit teaching, which I dont really enjoy, and instead form a thai company where Im a 49% stakeholder and my wife owns 51%. In this situation is it easy for me to get an ext of stay based on the business and get a legal work permit? Would I need an attorney to obviously set up the company and maybe do the paperwork for the visa? How much on average  does this cost?

 

For the ext of stay do I get a12 month stamp? Is this renewable yr by yr?

 

In the above company situation, does the bank have to put the papers in the company name or in my wifes personal name?

 

Tax wise... does it mean that the tax dept will be strict with our business bc theres a farang involved? Conversely if we dont do all this and if I remain as a teacher... it is my understanding that the tax situation will be more favorable?

 

thanks

[FritsSikkink]

You don't get a visa for owning a business. You can get an investment visa if you invest 10 million THB. For a work permit for you there need to be 2 Thai's working for that company if you are married (your wife can be 1 of them), otherwise 4. You can get a non O visa for being married and work on that or get a non B with the paperwork and Thai's working for that company. What sort of business will it be as you might need additional permits for the business to run.

[elviajero]

You should get a 1 year extension of stay based on being married and not your job. That way your permit to stay isn’t reliant on your work. You can still get a WP and work with an extension based on marriage.

 

• It’s possible to work as a teacher and for the new business.
• You don’t need to be employed by the new company at all.
• You could just be a shareholder.
• You could just be a non-executive director of the new company.
• The property could be owned either by your wife or by a limited company.
• The revenue department shouldn’t treat your business any differently to a 100% Thai owned business.

 

[lopburi3]

He can not obtain a one year extension based on being married without meeting financial requirements so that may be an issue as he appears to want to quit teaching - even for working at the company he will be required to meet financials and work permit conditions.

[ghworker2010]

2 hours ago, lopburi3 said:

He can not obtain a one year extension based on being married without meeting financial requirements so that may be an issue as he appears to want to quit teaching - even for working at the company he will be required to meet financials and work permit conditions.

i have over 800k in my bank acc. What other financial and WP conditions are you talking about?

 

thanks

[ghworker2010]

2 hours ago, elviajero said:

You should get a 1 year extension of stay based on being married and not your job. That way your permit to stay isn’t reliant on your work. You can still get a WP and work with an extension based on marriage.

 

• It’s possible to work as a teacher and for the new business.
• You don’t need to be employed by the new company at all.
• You could just be a shareholder.
• You could just be a non-executive director of the new company.
• The property could be owned either by your wife or by a limited company.
• The revenue department shouldn’t treat your business any differently to a 100% Thai owned business.

 

I dont understand your first bullet point. Are you saying I can do that based on an investment visa (10million baht) or only by having a thai limited company?

[steve187]

get an extension based on marriage, it has less financial requirements, less paperwork and more secure.

[ubonjoe]

1 minute ago, ghworker2010 said:

I dont understand your first bullet point. Are you saying I can do that based on an investment visa (10million baht) or only by having a thai limited company?

Forget the 10 million baht visa (really an extension of stay) mentioned earlier.

You  would need a work permit to work for the business is all you would need. That can be done by having a partnership set up withe your wife with 1 million baht of registered capital and 4 Thai employees (at some WP offices only 2 are needed. It can be done with an extension of stay based upon marriage.

[lopburi3]

38 minutes ago, ghworker2010 said:

i have over 800k in my bank acc. What other financial and WP conditions are you talking about?

 

thanks

You did not mention that in post.  So your employment is not material to extension - you can extend for marriage at any time using 400k in bank method.

[elviajero]

1 hour ago, ghworker2010 said:

I dont understand your first bullet point. Are you saying I can do that based on an investment visa (10million baht) or only by having a thai limited company?

You were talking about having to choose between working as a teacher and working for the new company. I was simply pointing out that you could, with the support of both employers, get permission (WP) to do both.

[elviajero]

1 hour ago, ghworker2010 said:

i have over 800k in my bank acc. What other financial and WP conditions are you talking about?

 

thanks

Then you should certainly go for a permit to stay based on marriage. You only need 400K in the bank for two months before you apply.  Note that some IO’s will encourage you to have an extension based on retirement if they see 800K+ in your bank, because it’s easier for them to process. So either reduce the balance nearer to 400K, or stand your ground and make it clear you intend to work.

[timendres]

In my experience, the extension of stay based on work is far more complicated and expensive to do than marriage or retirement. I would avoid it unless you really want the WP.

[ubonjoe]

2 minutes ago, timendres said:

In my experience, the extension of stay based on work is far more complicated and expensive to do than marriage or retirement. I would avoid it unless you really want the WP.

He does not need to get an extension based upon working to get a work permit. Since he is married to a Thai he can get one with a extension based upon marriage.

[Suradit69]

1 hour ago, ubonjoe said:

Since he is married to a Thai he can get one with a extension based upon marriage.

Does Immigrations and/or the Minister of Labour ever allow someone to work while on a retirement extension?

 

I know years ago when I got Tourist Visas they specifically stated "employment prohibited," but just checked and didn't see that on my old O-A or on any of my extension stamps. Is working definitely prohibited?

 

Just an academic question. I don't plan on working. Doubt anyone would hire me. Thanks.

[Amras]

On 12/27/2017 at 3:06 PM, FritsSikkink said:

You don't get a visa for owning a business. You can get an investment visa if you invest 10 million THB. For a work permit for you there need to be 2 Thai's working for that company if you are married (your wife can be 1 of them), otherwise 4. You can get a non O visa for being married and work on that or get a non B with the paperwork and Thai's working for that company. What sort of business will it be as you might need additional permits for the business to run.

"For a work permit for you there need to be 2 Thai's working for that company if you are married (your wife can be 1 of them)"

 

I thought this as well. 

 

However, according to both our lawyers and our accountant, a shareholder (in this case his wife) of the business, does not count as one of the required employees for a Work Permit for a foreigner. 

We've been told this when also questioning them multiple times, as my partner is a shareholder in our company and can't be used as one of the employees for work permits. 

Maybe things have become more strict?

[FritsSikkink]

4 minutes ago, Amras said:

"For a work permit for you there need to be 2 Thai's working for that company if you are married (your wife can be 1 of them)"

 

I thought this as well. 

 

However, according to both our lawyers and our accountant, a shareholder (in this case his wife) of the business, does not count as one of the required employees for a Work Permit for a foreigner. 

We've been told this when also questioning them multiple times, as my partner is a shareholder in our company and can't be used as one of the employees for work permits. 

Maybe things have become more strict?

No, as a shareholder she doesn't count but she can be an employee too.

[Amras]

24 minutes ago, FritsSikkink said:

No, as a shareholder she doesn't count but she can be an employee too.

Ahh, maybe I didn't explain clearly. 

Even as an employee, if they are ALSO a shareholder, they don't count/cannot be used for Work Permit purposes for a foreigner. 

The employees must be non shareholders (cannot be an owner/shareholder of the business).

At least, apparently now, according to both our Lawyer and accountant (who don't know each other). As I also believed they could.

 

Edit: Although, I'd be happen to be proven wrong (or rather prove the lawyers wrong). As we could use her as an employee as we need 8. They were adamant she couldn't be a 'countable' employee for work permits though. For some reason. 

Edited December 28, 2017 by Amras
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[FritsSikkink]

40 minutes ago, Amras said:

Ahh, maybe I didn't explain clearly. 

Even as an employee, if they are ALSO a shareholder, they don't count/cannot be used for Work Permit purposes for a foreigner. 

The employees must be non shareholders (cannot be an owner/shareholder of the business).

At least, apparently now, according to both our Lawyer and accountant (who don't know each other). As I also believed they could.

 

Edit: Although, I'd be happen to be proven wrong (or rather prove the lawyers wrong). As we could use her as an employee as we need 8. They were adamant she couldn't be a 'countable' employee for work permits though. For some reason. 

Let them show you the law, I wouldn't take "for some reason" as an answer.

[Maestro]

47 minutes ago, Amras said:

Ahh, maybe I didn't explain clearly. 

Even as an employee, if they are ALSO a shareholder, they don't count/cannot be used for Work Permit purposes for a foreigner. 

The employees must be non shareholders (cannot be an owner/shareholder of the business).

At least, apparently now, according to both our Lawyer and accountant (who don't know each other). As I also believed they could.

 

Edit: Although, I'd be happen to be proven wrong (or rather prove the lawyers wrong). As we could use her as an employee as we need 8. They were adamant she couldn't be a 'countable' employee for work permits though. For some reason. 

 

In what province was that? Not all provincial branches of the Department of Employment use the same unwritten rules.

[Amras]

5 minutes ago, FritsSikkink said:

Let them show you the law, I wouldn't take "for some reason" as an answer.

 

I agree. I might push them again. They didn't say 'for some reason', they just said, in typical Thai fashion. You cannot. 

 

5 minutes ago, Maestro said:

 

In what province was that? Not all provincial branches of the Department of employment use the same unwritten rules.

Bangkok. Wouldn't put it past them not knowing what the hell they are doing.