Was advised of this today.Has anyone come across this or have any clarification.

Company who has a capital of THB 2 M can hire a foreigner employee and subsequently apply for non B and work permit for this employee but can no longer renew should the Balance Sheet of that Company doesnt show a minimum of THB 1 M net profit for the period.

Can this be correct?

Was advised of this today.Has anyone come across this or have any clarification.

Company who has a capital of THB 2 M can hire a foreigner employee and subsequently apply for non B and work permit for this employee but can no longer renew should the Balance Sheet of that Company doesnt show a minimum of THB 1 M net profit for the period.

Can this be correct?

Yes, this is or can be correct. Not sure which one you are referring to. The visa or the work permit, they are seperate issues. Also, by renew did you mean the visa extension of stay based on business?

Referring to the police order topics above,(at the top of the Visa forum page) posted by sunbelt's english translation of Police Order 606/2006 it does mention those requirements for an extension of stay.

edited for clarification.

Edited April 10, 200719 yr by beechguy

It just gets worse...

The minimum equity of the company in deed must be Baht 1 million. So the company may produce a loss but the value may not fall below such 1 million.

It just gets worse...

It certainly is! Of course everyone has their own situation to deal with. But, if I understood my advisors correctly, some foriegn owned businesses will have to increase their paid in registered capitol from 2 million to 3 million by (I think) August, 2009 to qualify for certain things, work permits, extensions, etc. Who knows what other regulations will be implemented or changed.

Anyway, definitely seek qualified professionals for advice. I think this all is going to be more complicated than ever before!