Hello, first of all, I would really appreciate it if anyone could share your own experience of getting a work permit from your own corporation.

 

The reason for my question is,

I am not in Thailand at this moment, but I am trying to prepare as much as possible, before I arrive in Thailand. (Because it would be very difficult to be back in my home country again, especially in this COVID situation)

I am not married to Thai, and I understand the rule of 2 million baht registered capital and 4 Thai employees per 1 work permit. 

 

But regarding the actual injection of capital, each website tells a different stories about the actual injection of the capital necessary for a work permit, and when I was able to have an Online conversation with a lawyer in Thailand, even she told me a different number (from what I've seen on the internet) for an actual injection of the capital to support a work permit. (She was very friendly though)

 

According to her, Thai registered corporation and a representative office of a foreign corporation need a minimum of "1 million baht" to be injected to support 1 work permit. However, many websites state that  "A foreign business operating in Thailand (Treaty of Amity company, or Representative Office or Branch Office of a foreign company) must show the evidence of bringing foreign money into Thailand as the minimum capital required by the Foreign Business Law Baht 3,000,000 per work permit." (This sounds like I have to pay the entire 3 million baht to the corporation accountbefore I apply for a work permit, if the company is a representative office or a branch office)

 

With these conflicting information, I would like to hear what your experience was.

 

I assume a foreigner getting a work permit by establishing a representative office or a branch office is rare.

 

So, your experience doesn't have to be a work permit from a representative office or a branch office.

 

What was the minimum amount of "injected capital" when you were able to receive a work permit from your established company?

 

Your experience or answer would be very much appreciated. (It's very tough to find another Thai lawyer to speak with, as I am not in Thailand)

 

Thank you.

 

 

Edited August 21, 20214 yr by Zacuzzi

The company must have at least 2 million baht of registered capital per work permit.

There is no requirement prove it came from abroad.

4 hours ago, ubonjoe said:

The company must have at least 2 million baht of registered capital per work permit.

There is no requirement prove it came from abroad.

20 + years ago a partnership Ltd. (3 shareholders) did not need to show the money, a company Ltd. (7 shareholders) had to show a bankbook.  Don't know if it is still like this (CNX)

9 minutes ago, SomchaiCNX said:

20 + years ago a partnership Ltd. (3 shareholders) did not need to show the money, a company Ltd. (7 shareholders) had to show a bankbook.  Don't know if it is still like this (CNX)

As far as I know it is needed. The rules have changed more than once in the past 2 years.

Thinking like this causes businesses to go bust quickly, usually due to cash flow issues. Capitalise the business properly or don't invest in it.

Ten years ago, when I formed my company, the practice was more casual and we did not need to prove the capital investment through documentation. Affidavit was sufficient.

As ubonjoe pointed out though, the rules have changed recently and my understanding is that they are now asking for documentation to show the actual capitalization in a company account. It's become an issue for some existing companies I know that want to add additional work permit holders, but don't have additional capital to infuse. As far as I know, the amount is 2m baht per work permit.

You do not need to show anything at the beginning. Just open Thai company Limited with 2,000,000 capital (you do not need to show these money either).

Get 4 employees and go ahead. You can count to spend approximately: 35k for incorporation, bank account and SSO about 10k,  Work Permit 15-25k, Visa 30-45k. Easy... but for next extension you have to show that company has some activities. 

4 hours ago, ubonjoe said:

As far as I know it is needed. The rules have changed more than once in the past 2 years.

Thanks for the update, we opted for the Partnership Ltd. for that reason.

15 hours ago, Zacuzzi said:

Your experience or answer would be very much appreciated. (It's very tough to find another Thai lawyer to speak with, as I am not in Thailand)

2 million baht paid in company capital for the first foreigner's work permit plus 4 Thai employees.

 

To my knowledge it used to be 1 million baht extra company capital plus 4 Thai employees for each additional foreigner's work permit, but might be that it's now 2 million baht extra capital for each additional work permit.

 

Your minimum 51 % Thai shareholder(s) might need to show source of funds for their shares, and be aware that registered company capital might need to be paid in full. The authorities are more strict now, it's not easy anymore to register proxy shareholders that don't have funds.

5 hours ago, SomchaiCNX said:

20 + years ago a partnership Ltd. (3 shareholders) did not need to show the money, a company Ltd. (7 shareholders) had to show a bankbook.  Don't know if it is still like this (CNX)

It has changed, today you need only 3 shareholders, but they (Thai shareholders) need to show that they have funds to buy their shares. Old companies with proxy-shareholders were given a (quite long) time frame to get everything in order with real shareholders.

On 8/22/2021 at 5:02 PM, khunPer said:

It has changed, today you need only 3 shareholders, but they (Thai shareholders) need to show that they have funds to buy their shares. Old companies with proxy-shareholders were given a (quite long) time frame to get everything in order with real shareholders.

There is the way to avoid it, and not show funds, but only for companies with capital less than 5 millions THB.