Buying a guest house. Can I get a work permit?

[pacer]

I am buying a small guest house in thailand. I am paying 1m baht for it and the existing 2m baht company is included in the sale. The deal is that the 48% farang shareholder is transferring his shares to me and the thai shareholders have already waived their rights in the company. I am also keeping the existing thai employees on. Does anybody know if this would allow me to get a Thai work permit without needing to pay the extra 1m baht? The process would involve me arriving in Thailand on a normal tourist visa, possibly with a 30 day extension, Paying the 1m baht to the farang owner for the business, going to the solicitor to transfer the directors' shares from the current farang owner to myself, then flying to Malaysia for a couple of days to apply for the non immigrant B visa and work permit. Please can someone confirm if this is possible even though I am only paying 1m baht for a 2m baht company?

Thanks in advance

[dan060975]

I am buying a small guest house in thailand. I am paying 1m baht for it and the existing 2m baht company is included in the sale. The deal is that the 48% farang shareholder is transferring his shares to me and the thai shareholders have already waived their rights in the company. I am also keeping the existing thai employees on. Does anybody know if this would allow me to get a Thai work permit without needing to pay the extra 1m baht? The process would involve me arriving in Thailand on a normal tourist visa, possibly with a 30 day extension, Paying the 1m baht to the farang owner for the business, going to the solicitor to transfer the directors' shares from the current farang owner to myself, then flying to Malaysia for a couple of days to apply for the non immigrant B visa and work permit. Please can someone confirm if this is possible even though I am only paying 1m baht for a 2m baht company?

Thanks in advance

does't matter what you pay for a business or what it is worth , if it or you change it to a limited company you can get work permit

thanx Dan

[peterjackson]

Hey

You can also enter on a Non Imm B Multi Entry Visa. If you apply at your Embassy/Consular Office where you live and tell them you are researching the area for business opportunities/investment, they will issue the Visa.

If you need a work permit after arrival, then you will need to apply for that as and when it is needd. But this will at least mean that you don't need to arrive on a tourist visa and then leave to Burma for the change to take effect.

Regards

Peter

[Scenium11]

Hey

You can also enter on a Non Imm B Multi Entry Visa. If you apply at your Embassy/Consular Office where you live and tell them you are researching the area for business opportunities/investment, they will issue the Visa.

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Peter, are you sure about that? Get Non-Immigrant visa from the embassy is usually requiring lot of paperwork and a letter from a thai company?

How do you proceed to get Non-Imm "B" with a reason being 'searching for business opportunities' ?

[franna]

I am buying a small guest house in thailand. I am paying 1m baht for it and the existing 2m baht company is included in the sale. The deal is that the 48% farang shareholder is transferring his shares to me and the thai shareholders have already waived their rights in the company. I am also keeping the existing thai employees on. Does anybody know if this would allow me to get a Thai work permit without needing to pay the extra 1m baht? The process would involve me arriving in Thailand on a normal tourist visa, possibly with a 30 day extension, Paying the 1m baht to the farang owner for the business, going to the solicitor to transfer the directors' shares from the current farang owner to myself, then flying to Malaysia for a couple of days to apply for the non immigrant B visa and work permit. Please can someone confirm if this is possible even though I am only paying 1m baht for a 2m baht company?

Thanks in advance

Hi Pacer, did you get any usefull help or info back. I am in more or less the similar situation and will arrive in Thaialnd by end November 2006. My requirements will be the same. Any help or info?

[service]

I am buying a small guest house in thailand. I am paying 1m baht for it and the existing 2m baht company is included in the sale. The deal is that the 48% farang shareholder is transferring his shares to me and the thai shareholders have already waived their rights in the company. I am also keeping the existing thai employees on. Does anybody know if this would allow me to get a Thai work permit without needing to pay the extra 1m baht? The process would involve me arriving in Thailand on a normal tourist visa, possibly with a 30 day extension, Paying the 1m baht to the farang owner for the business, going to the solicitor to transfer the directors' shares from the current farang owner to myself, then flying to Malaysia for a couple of days to apply for the non immigrant B visa and work permit. Please can someone confirm if this is possible even though I am only paying 1m baht for a 2m baht company?

Thanks in advance

Basically, you need to pay 2 million whether in cash or property to create the share capital of the company. Ok, here we go!, if you wanna know the fact, you can ask this question to your lawyer said "how's come ?" and the answer will be "It's ok because nobody (officer) will check the actual amount which paid to your company. Ha ha ! fun ?

In fact, all paper works (company's documents) have been shown that your company is already having 2 million baht such as one million baht as cash (cause you paid for business) and another one million baht (which you never paid for) is a loan from you to the company (this figure shall be shown when fiscal year). So, your company is likely having 2 million baht (shown in document).

Your question is that "this is possible even though I am only paying 1M baht for a 2M baht company?". The answer is "Yes, you do fine".

[Paul MBMG]

in terms of the THB 2 Mn there are penty of ways to skin this particular cat and choosing the right one depends on yoiru circumstances. No short cuts, you need a professional accountant/advisor to explain them. Might not come free but could save the cost many,many times over

I am buying a small guest house in thailand. I am paying 1m baht for it and the existing 2m baht company is included in the sale. The deal is that the 48% farang shareholder is transferring his shares to me and the thai shareholders have already waived their rights in the company. I am also keeping the existing thai employees on. Does anybody know if this would allow me to get a Thai work permit without needing to pay the extra 1m baht? The process would involve me arriving in Thailand on a normal tourist visa, possibly with a 30 day extension, Paying the 1m baht to the farang owner for the business, going to the solicitor to transfer the directors' shares from the current farang owner to myself, then flying to Malaysia for a couple of days to apply for the non immigrant B visa and work permit. Please can someone confirm if this is possible even though I am only paying 1m baht for a 2m baht company?

Thanks in advance

Basically, you need to pay 2 million whether in cash or property to create the share capital of the company. Ok, here we go!, if you wanna know the fact, you can ask this question to your lawyer said "how's come ?" and the answer will be "It's ok because nobody (officer) will check the actual amount which paid to your company. Ha ha ! fun ?

In fact, all paper works (company's documents) have been shown that your company is already having 2 million baht such as one million baht as cash (cause you paid for business) and another one million baht (which you never paid for) is a loan from you to the company (this figure shall be shown when fiscal year). So, your company is likely having 2 million baht (shown in document).

Your question is that "this is possible even though I am only paying 1M baht for a 2M baht company?". The answer is "Yes, you do fine".