New Rules Regarding Company "financial Viability"

[walrus]

I wonder if anyone else has experience of this one. I am applying for a Non-Imm B visa renewal which I thought would be a routine task as it has been the last few years. I am the sole expat employee and founder of a small business here with more than the requisite number of Thai staff, share capital, etc etc. However new rules have been introduced in 2007 under which the Immigration officials examine financial viability of the company as per the most recent audited results.

In our case funding is supported by loans from a director (me) which are larger than our full paid share capital of 2m Baht. This seems to be a problem, though it has been the case for years. Renewal has not been approved at this stage and we are asked to increase share capital to outweigh the amount if the outstanding loans. This would take longer than the time available before visa expiry.

Would be grateful to hear from anyone with advice, or similar experience.

Thanks,

The Walrus

[lopburi3]

There indeed have been rule changes in the past year and proof of income to pay expenses (required salary) I believe is the basic requirement if you wish to obtain one year extensions now. The only option, until that can be done, seems to be 90 day border runs using non immigrant B visa entry.

[johnliu]

There indeed have been rule changes in the past year and proof of income to pay expenses (required salary) I believe is the basic requirement if you wish to obtain one year extensions now. The only option, until that can be done, seems to be 90 day border runs using non immigrant B visa entry.

hi lopburi3,

can you advise if one has a work permit for the past 1 year but as a director who does not get any salary for the past one year and is doing 90days run for the past,as such he does not have the porpor 91,but now he needs to extend his work permit,will there be any problems and what are the solution? thanks

[lopburi3]

I am not up on business type visas but do not believe there is any problem with those doing visa runs or for work permit - it is the extensions of stay that have been effected by recent changes. But hopefully someone can provide better details.