Investing in a Thai business as a Thai Elite visa holder?

[Genix]

Would a Thai Elite holder be able to be an investor to a Thai business as a Thai Elite holder? Perhaps through a foreign LLC if personal not allowed.

 

And would they be able to help with online marketing (basically work from home)?

Edited October 23, 2020 by Genix

[blackcab]

Moved to the business forum.

[blackcab]

Yes you can invest in a Thai company and hold an Elite visa. However you do not need any category of visa or extension of stay to invest in a Thai company. You can invest in a Thai company and not even be in Thailand.

 

If you want to work for the company you will need a work permit. To get a work permit you would also need a Non B visa (and extension of stay).

[timendres]

There is nothing that prevents you from investing in a Thai company, other than common sense.

 

To legally work, you need a work permit. The gray area of working without one is a question of your risk tolerance, and the work involved. Clearly, many work under the radar online, but if it were involved with a Thai company, especially one you are invested in, I think your risk increases somewhat.

[Genix]

3 minutes ago, timendres said:

There is nothing that prevents you from investing in a Thai company, other than common sense.

 

To legally work, you need a work permit. The gray area of working without one is a question of your risk tolerance, and the work involved. Clearly, many work under the radar online, but if it were involved with a Thai company, especially one you are invested in, I think your risk increases somewhat.

 

Yeah the dilemma here is that I'd invest & be focused on the online side and i'd be working from home and don't even need to be in Thailand (although i'd be in Thailand). Just like digital nomads, except it's for a Thai business and occasionally meet the owner(s).

Edited October 23, 2020 by Genix

[timendres]

8 minutes ago, Genix said:

Yeah the dilemma here is that I'd invest & be focused on the online side and i'd be working from home and don't even need to be in Thailand (although i'd be in Thailand). Just like digital nomads, except it's for a Thai business and occasionally meet the owner(s).

 

Personally, I would be very hesitant to invest in a company in Thailand that I did not have 100% ownership of. The idea that I would have an investment that could easily be nullified by someone reporting me to the labor/immigration department would definitely negate any interest on my part.

Edited October 23, 2020 by timendres

[blackcab]

56 minutes ago, Genix said:

and occasionally meet the owner(s)...

 

As an investor you should be a part owner, otherwise you would be little more than an unsecured lender who also donates their free time.

[khunPer]

7 hours ago, Genix said:

Just like digital nomads, except it's for a Thai business and occasionally meet the owner(s).

If OP is US-American then he 100 percent can own a business in Thailand under the amity treaty...????

[khunPer]

7 hours ago, Genix said:

And would they be able to help with online marketing (basically work from home)?

You might be thinking of some news articles with proposals about Elite Card and work permit; so far nothing has been agreed to my knmowledge...

Quote

If the card holder subsequently invests $1 million (31 million baht) in Thailand in the following year they will be eligible for a long term stay and a work permit.

 

As others have already mentioned, anyone can invest in a Thai company – i.e. buying shares and being a shareholder in a Thai company limited – and you can also be member of the borard of directors and attend high-level meetings, but you cannot perform any lower duties, including being a managing director, without a work permit.

[Genix]

2 hours ago, khunPer said:

You might be thinking of some news articles with proposals about Elite Card and work permit; so far nothing has been agreed to my knmowledge...

 

As others have already mentioned, anyone can invest in a Thai company – i.e. buying shares and being a shareholder in a Thai company limited – and you can also be member of the borard of directors and attend high-level meetings, but you cannot perform any lower duties, including being a managing director, without a work permit.

 

Yeah defo not looking to invest $1 Million... I specialize in online marketing and want a side project in the offline market to invest and help it grow via online means. Technically it seems like it would be classified as 'working' and yah, would be risky if the biz partner can just report to immigration as Timenders pointed out.

 

Perhaps just investing only, without the help in marketing part then. 

[khunPer]

2 hours ago, Genix said:

 

Yeah defo not looking to invest $1 Million... I specialize in online marketing and want a side project in the offline market to invest and help it grow via online means. Technically it seems like it would be classified as 'working' and yah, would be risky if the biz partner can just report to immigration as Timenders pointed out.

 

Perhaps just investing only, without the help in marketing part then. 

You can be shareholder in a Thai company limited and own up to 49 percent of the shares – 51 percent need to be owned by Thai nationals, if you are not US-American – but a company can be set up with preferred shares, talk to a business lawyer about best ways to do that in your situation.

 

With a registered shareholder capital of 2 million baht and 4 Thai employees, the company can have one work permit for a foreigner. If it's a company under BOI-rules, you might need fewer Thai employees...????

[Leaver]

On 10/23/2020 at 12:12 PM, Genix said:

 

Yeah the dilemma here is that I'd invest & be focused on the online side and i'd be working from home and don't even need to be in Thailand (although i'd be in Thailand). Just like digital nomads, except it's for a Thai business and occasionally meet the owner(s).

As another member suggested, you would invest some capital into the company.  You would them do your online marketing benefitting the company.  Then, when it comes time to pay a return on your investment, the owner of the company will "arrange" for you to be arrested for working illegally and you will be deported.