rogerinthai Posted January 24, 2007 Share Posted January 24, 2007 Facts: - I am a Managing Director in a company that is about to close down. - I have an Extension of Stay based on Business, and a Work Permit. If I stop working, I have to leave Thailand in X number of days, right? But what happens in case the company just closes down? According to the Thai law, I have to stay as a liquidator until the liqidation process finishes, since I am the Managing Director (plus I want to stay as much as possible). According to the advice I have received, once the first shareholders meeting is held (deciding about closing the company), this means the company cannot have employees any more. So formally, I will not be employed starting from that date. We can specify in the meeting that the company still requires my services as a liquidator, and I will get paid, but again - not as an employee. No PND1 forms will be submitted, no social security payments will be made. So, can I stay until the date specified in the Extension of Stay, or should I leave Thailand in X days after the first shareholding meeting? And what is X? Another question is about my WP - what is the procedure to give it back, if any? I am really clueless about that, and will appreciate any knowledgable responses. Link to comment Share on other sites More sharing options...
Sunbelt Asia Posted January 24, 2007 Share Posted January 24, 2007 Facts:- I am a Managing Director in a company that is about to close down. - I have an Extension of Stay based on Business, and a Work Permit. If I stop working, I have to leave Thailand in X number of days, right? But what happens in case the company just closes down? According to the Thai law, I have to stay as a liquidator until the liqidation process finishes, since I am the Managing Director (plus I want to stay as much as possible). According to the advice I have received, once the first shareholders meeting is held (deciding about closing the company), this means the company cannot have employees any more. So formally, I will not be employed starting from that date. We can specify in the meeting that the company still requires my services as a liquidator, and I will get paid, but again - not as an employee. No PND1 forms will be submitted, no social security payments will be made. So, can I stay until the date specified in the Extension of Stay, or should I leave Thailand in X days after the first shareholding meeting? And what is X? Another question is about my WP - what is the procedure to give it back, if any? I am really clueless about that, and will appreciate any knowledgable responses. Your work permit and extension of stay based on business will be valid until it expires or if you the MD of the company notifies the government you are no longer a employee. www.sunbeltasiagroup.com Link to comment Share on other sites More sharing options...
rogerinthai Posted January 24, 2007 Author Share Posted January 24, 2007 Facts:- I am a Managing Director in a company that is about to close down. - I have an Extension of Stay based on Business, and a Work Permit. If I stop working, I have to leave Thailand in X number of days, right? But what happens in case the company just closes down? According to the Thai law, I have to stay as a liquidator until the liqidation process finishes, since I am the Managing Director (plus I want to stay as much as possible). According to the advice I have received, once the first shareholders meeting is held (deciding about closing the company), this means the company cannot have employees any more. So formally, I will not be employed starting from that date. We can specify in the meeting that the company still requires my services as a liquidator, and I will get paid, but again - not as an employee. No PND1 forms will be submitted, no social security payments will be made. So, can I stay until the date specified in the Extension of Stay, or should I leave Thailand in X days after the first shareholding meeting? And what is X? Another question is about my WP - what is the procedure to give it back, if any? I am really clueless about that, and will appreciate any knowledgable responses. Your work permit and extension of stay based on business will be valid until it expires or if you the MD of the company notifies the government you are no longer a employee. www.sunbeltasiagroup.com Thank you for the quick response. As part of the process I will have to file a form to Social Security (SPS 6-09 I believe) telling them that I am no longer an Employee - will they not report to Immigration? Link to comment Share on other sites More sharing options...
rogerinthai Posted January 25, 2007 Author Share Posted January 25, 2007 (edited) Any clues on the above, Sunbelt or anyone else? I really don't want to find out I overstayed for months, and that my Extension of Stay somehow became invalid! Edited January 25, 2007 by rogerinthai Link to comment Share on other sites More sharing options...
Sunbelt Asia Posted January 25, 2007 Share Posted January 25, 2007 Thank you for the quick response. As part of the process I will have to file a form to Social Security (SPS 6-09 I believe) telling them that I am no longer an Employee - will they not report to Immigration? No they will not report to Immigration. In fact under the new laws, if you are a shareholder, promoter or a Director of a company, you no longer are required to be in the Social Fund system. Only employees under the Social fund system are required to be filing. A shareholder, promoter or a Director of a company are no longer "employees" and no longer need to file. www.sunbeltasiagroup.com Link to comment Share on other sites More sharing options...
rogerinthai Posted January 25, 2007 Author Share Posted January 25, 2007 Thanks again. What about the Work Permit? Is there a procedure to return it? Link to comment Share on other sites More sharing options...
Sunbelt Asia Posted January 26, 2007 Share Posted January 26, 2007 Thanks again. What about the Work Permit? Is there a procedure to return it? You hand the WP in at the Labor Dept. If you do it before the wp expires/extension of stay permit you will have 7 days to leave the country or change it to another extension of stay category. When you give the wp at the Labor Dept, you get a receipt which called 'Tor Thor 10." www.sunbeltasiagroup.com Link to comment Share on other sites More sharing options...
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