Retirement & Work Visa

[Robby nz]

Am looking at moving to Thailand for a few years, can meet the requirements of a retirement visa no problem but would like to get a small business, guest house, bar etc to have a small income.

Would like to do this properly with a work permit, If I arrived under a RV would there be many problems getting a WP?

Also I understand about setting up a limited Co but what are the requirements of a partnership?

[lopburi3]

Retire is not to work. Fine to come on long stay (retirement) visa but if you set up business/work permit you will probably have to change to B visa at that time. You can always change back later if ready to really retire.

You should talk with Sunbelt or Indo-Siam for business details as they are the most informed on these.

[Sunbelt Asia]

Also I understand about setting up a limited Co but what are the requirements of a partnership?

Different types of partnerships. .

Ordinary (unregistered) partnerships

Ordinary partnerships consist of two or more persons who join together for a business purpose. It may also include a company as a partner.

Liability of the partners. The agreement establishing an ordinary partnership need not be in writing. All partners are liable without limitation for any acts done by any partner in the course of operating the partnership. Creditors may claim against the assets of any partner without first claiming against the assets of the partnership.

Registered ordinary partnerships

The registered ordinary partnership ("ROP") form of business organization requires that the partnership contract, including the details of capital contributions, management and objects be in writing and registered with the Ministry of Commerce.

Partnership assets Where a claim is made against a registered ordinary partnership, a creditor must first look to partnership assets before looking to a partner's separate assets.

Liability: On the whole, the registered ordinary partnership form of business organization is not very popular, since it offers little or no apparent tax advantages and little or no liability protection.

Limited partnerships

A limited partnership ("LP") is a form of registered partnership in which there are one or more managing partners who manage the business and who are personally liable for the partnership's debts, and one or more partners who are not normally personally liable for the partnership's debts, except for their undelivered or withdrawn capital contributions. A foreigner cannot be a managing director in a Limited partnership unless they have a Alien Business License.

The partnership agreement, including the details of capital contribution, management and objects, is filed with the Ministry of Commerce, in the same manner as a registered ordinary partnership.

Liability of the partners: Partners who are usally foreigners with limited liability become liable without limit, where they actually manage or lend their name to the partnership. Limited partnerships are a popular form of business organization, since they provide an aspect of limited liability with less formalities than are required of limited companies. Many people who become limited partners are unaware of their liabilities, because they actually manage the business of the partnership.

Would like to do this properly with a work permit, If I arrived under a RV would there be many problems getting a WP?

Get a non immigrant "B" visa based on business instead of retirement visa in your case.

www.sunbeltasia.com