investment activity on tourist visa exempt permissible?

[pbrock]

- My Thai friend wants to start a new company.

- I trust my friend. Know for many years. Doubt it's worth to scam me for that amount of money.

- Some money is missing for the new company.

- Previous investment experience outside of Thailand. Business concept looks sound.

- For me it's just a small amount of money.

- Happy to get a minority share of the company.

- Ok with risk of getting scammed.

- Ok with risk of having a total loss. Please don't focus this discussion on my risk of losing the money I invest. If anything, please focus on liability beyond it as well as much more importantly: how to avoid doing it on the wrong visa / working without work permit.

- I will not be involved in operations. I will not comment on operations or strategy in any way. First, I want to avoid getting into trouble for working without a work permit. Second, I don't have expertise. Third, I have work outside of Thailand.

- I just want to be an investor. Chance / risk looks about right.

 

Can we even discuss these things while I am in Thailand on tourist visa or is that already "working without work permit"? So I better leave the country and talk over the phone, then it's legal? Strictly speaking to stay legal, blow off any attempts to discuss any investment with "I am on tourist visa, can't talk", a bit silly but required to be 100% safe?

 

Can I go to their lawyers to sign the papers? Can I go to my lawyer to check with them that I don't have liability (loosing my money/shares is ok but nothing on top of that)? Or already "working without work permit"?

 

Can I go together to the government office to open the company? Or already "working without work permit"?

 

Can I become a shareholder of the new company when I am outside the country? Can I sign all the papers from outside and just make a bank wire? Or do I have to be physically present somewhere to present in Thailand my passport and sign?

 

Do I need the investor visa? But there is no company inviting me yet. Let alone a big company. Investor visa as far as I understand you need an invitation letter of an existing company.

 

What visa one would need to discuss opening new companies and to be available to discuss with lawyers and sign papers?

 

Should he just create the company on its own...? And then write an invitation letter to invite me so I apply for investor visa, get into the country and then contribute money to the company and get shares then?

[elviajero]

2 hours ago, pbrock said:

Can we even discuss these things while I am in Thailand on tourist visa

Yes

 

2 hours ago, pbrock said:

Can I go to their lawyers to sign the papers?

Yes

 

2 hours ago, pbrock said:

Can I go to their lawyers to sign the papers? Can I go to my lawyer to check with them that I don't have liability (loosing my money/shares is ok but nothing on top of that)?

Yes

 

2 hours ago, pbrock said:

Can I go together to the government office to open the company?

Yes. But your accountant or lawyer will deal with the company set up.

 

2 hours ago, pbrock said:

Can I become a shareholder of the new company when I am outside the country?

Yes

 

2 hours ago, pbrock said:

Can I sign all the papers from outside and just make a bank wire?

Yes. You will have to comply with any money laundering regulation.

 

2 hours ago, pbrock said:

Do I need the investor visa?

No

 

2 hours ago, pbrock said:

What visa one would need to discuss opening new companies and to be available to discuss with lawyers and sign papers?

Any visa/permit to stay

 

You only need a work permit if you are going to actually work for the business, which you are not. You can invest in any business as a tourist. 

[pbrock]

Are you sure about this?

 

For all those working online for companies with no relation to Thailand, by the letter of the law, are working illegally, as per this thread any many others:

 

 

Couldn't any discussions about investments be a very slippery line? It's hard to only invest and not discuss the nature of the business. But discussing the nature of the business and giving opinions could be constructed into "business advisory work without a work permit"?

 

Under... "definition of work is "exerting effort" and "employing knowledge", "whether or not for wages or other benefits""? ...it's hard to do anything anyhow.

 

I wonder this has never been discussed here before?

[elviajero]

1 hour ago, pbrock said:

Are you sure about this?

100% sure. Any work in Thailand requires permission unless exempt. Attending business meetings is an activity that is exempt.

 

"According to the Announcement of the Department of Employment dated 6 March 2015, the following activities are not considered as work anymore and therefore do not require a work permit:

• Attending a meeting, a discussion, or a seminar;
• Attending an exhibition or a trade show;
• Attending a business trip or a business discussion;
• Attending a special or academic lecture;
• Attending a training and a technical seminar;
• Purchasing goods in a trade show; and
• Attending a Board of Directors meeting of one's own company."

 

1 hour ago, pbrock said:

It's hard to only invest and not discuss the nature of the business.

Which is why it's exempt.

 

1 hour ago, pbrock said:

Under... "definition of work is "exerting effort" and "employing knowledge", "whether or not for wages or other benefits""? ...it's hard to do anything anyhow.

That definition applies to the Alien Employment Act and is only relevant to that act. If a Thai based company want to employ a foreigner they must comply with that act, and apply for permission (work permit) regardless of what job is or whether out not they are paid. That definition is to stop companies avoiding permission by claiming the foreigner is unpaid and, for example, employed as a consultant.

[pbrock]

11 hours ago, elviajero said:

"According to the Announcement of the Department of Employment dated 6 March 2015, the following activities are not considered as work anymore and therefore do not require a work permit:

•  

Do you know where to find the original source of this?

 

Tried searching for it. But found only references in forums and non-government websites.

 

Google search

site:*.go.th "Attending a business trip"

did not find anything.