Visa/work Permits When Purchasing Business

[jimmyg19]

Hi everyone.

Hope you can help me out with enquiry I have.Recently came back from thailand and have fallen in love with place so much that I am interested in moving there for long time (visa permitting).

I am Australian and European Citizen and thinking of buying a small business to run.My question I guess is if I purchase a buisiness such as small coffee shop or bar, then how do I go about getting working visa to live there? Is it easier for me to get a visa if I own my own business? or do i need to have one before i can purchase? If anyone can provide feedback of similar experience that would be fantastic!

Thanks in Advance

Jimmy

[jstumbo]

By the time you get back and buy a business it will probably be going into the low season and businesses always struggle during this time. Figure that if you buy a business, you will loose money until the next high season.

[monty]

The good news:

A decent business will be able to support a work permit for you. Not much is required apart from 2 million Baht registered capital (which doesn't have to be there in cash, but can consists of part cash, assets, intellectual property etc.)

The bad news:

The best you can get out of a newly established (small) business without audited bookkeeping accounts going back at least a year is the right to do 3 monthly border runs!

There's a lot of requirements to be met before you will be able to get a 1 year extension of stay based on employment.

You need 4 Thai employees, all duly registered and paid properly, with social security contributions etc... They will need to get photographed at their place of work, and it will be verified that indeed they are working on a regular base at your company (i.e. no nominee employee's).

You need to prove that last year's audited revenue is at least of the same amount of the coming year's salary of the work permit holder. In case of a European, the minimum salary is 60,000 Baht/month (to qualify for a 1 year extension), so last year should have generated at least 720,000 Baht revenue (12 X 60,000).

Failing any of the above, you have to get a 1 year multiple entry non immigrant B visa in your home country, arrive here, start your business, apply for work permit, which once approved will be valid until the day you are allowed to stay in Thailand (90 days from day of entry).

Then you do a border run, get another 90 days on re-entry, go to the labour department to bring your work permit in sync again with your new allowed to date.

Repeat every 90 days until multiple entry visa expires, and the hope that your by then company qualifies for your 1 year extension!

[TomnearCentral]

...You need to prove that last year's audited revenue is at least of the same amount of the coming year's salary of the work permit holder. In case of a European, the minimum salary is 60,000 Baht/month (to qualify for a 1 year extension), so last year should have generated at least 720,000 Baht revenue (12 X 60,000).

Did they raise the monthly salary requirement? I thought it was 50,000 Baht/month and not 60,000 Baht? This is what I paid myself for the last two years and I always got the extensions. You got me nervous here, as my extension renewal is up again in three month!!

[monty]

...You need to prove that last year's audited revenue is at least of the same amount of the coming year's salary of the work permit holder. In case of a European, the minimum salary is 60,000 Baht/month (to qualify for a 1 year extension), so last year should have generated at least 720,000 Baht revenue (12 X 60,000).

Did they raise the monthly salary requirement? I thought it was 50,000 Baht/month and not 60,000 Baht? This is what I paid myself for the last two years and I always got the extensions. You got me nervous here, as my extension renewal is up again in three month!!

Sorry, I'm wrong here, it's indeed 50,000 for persons from following regions: Australia, Canada, Europe, Japan, USA.

45,000 for: Hong Kong, Singapore, South Korea, Taiwan.

35,000 for: Other Asian Countries not listed, Central and South America, eastern Europe, Mexico, Russia, South Africa, and Turkey.

and

25,000 for: Africa, Burma, Cambodia, Laos, Vietnam

Do note that the minimum salary requirement is demanded by immigration when applying for an extension based on employment. It is NOT the same amount needed by the labour department when applying for your work permit, although they also have certain minimum salary requirements, they are more based on the kind of employment (aide, management function, production etc...)

[pickel]

What kind of tax would have to be paid on revenues of 12 x 50,000= 600,000B?

[monty]

What kind of tax would have to be paid on revenues of 12 x 50,000= 600,000B?

Hard to say! Depends on your accountant, how and what you invested, what you can deduct etc. You obviously pay tax on profit, and not on revenue!

For starters you'll have to pay a tad over 40,000 Baht/year personal income tax on 50,000 Baht salary (less if you are married and have children)!

Check out Samran's tax calculator here http://www.thaivisa.com/forum/index.php?ac...st&id=16490

[Nickthegreek]

...You need to prove that last year's audited revenue is at least of the same amount of the coming year's salary of the work permit holder. In case of a European, the minimum salary is 60,000 Baht/month (to qualify for a 1 year extension), so last year should have generated at least 720,000 Baht revenue (12 X 60,000).

Did they raise the monthly salary requirement? I thought it was 50,000 Baht/month and not 60,000 Baht? This is what I paid myself for the last two years and I always got the extensions. You got me nervous here, as my extension renewal is up again in three month!!

Sorry, I'm wrong here, it's indeed 50,000 for persons from following regions: Australia, Canada, Europe, Japan, USA.

45,000 for: Hong Kong, Singapore, South Korea, Taiwan.

35,000 for: Other Asian Countries not listed, Central and South America, eastern Europe, Mexico, Russia, South Africa, and Turkey.

and

25,000 for: Africa, Burma, Cambodia, Laos, Vietnam

Do note that the minimum salary requirement is demanded by immigration when applying for an extension based on employment. It is NOT the same amount needed by the labour department when applying for your work permit, although they also have certain minimum salary requirements, they are more based on the kind of employment (aide, management function, production etc...)

Its interesting that you have Europe at 50,000..As MD of my company I was told by Immigration last year that it needed to be 60,000 baht per month..!! Has this changed? I am from the UK....

[lopburi3]

Yes it did change a year or so ago.

[TomnearCentral]

...You need to prove that last year's audited revenue is at least of the same amount of the coming year's salary of the work permit holder. In case of a European, the minimum salary is 60,000 Baht/month (to qualify for a 1 year extension), so last year should have generated at least 720,000 Baht revenue (12 X 60,000).

Did they raise the monthly salary requirement? I thought it was 50,000 Baht/month and not 60,000 Baht? This is what I paid myself for the last two years and I always got the extensions. You got me nervous here, as my extension renewal is up again in three month!!

Sorry, I'm wrong here, it's indeed 50,000 for persons from following regions: Australia, Canada, Europe, Japan, USA.

45,000 for: Hong Kong, Singapore, South Korea, Taiwan.

35,000 for: Other Asian Countries not listed, Central and South America, eastern Europe, Mexico, Russia, South Africa, and Turkey.

and

25,000 for: Africa, Burma, Cambodia, Laos, Vietnam

Do note that the minimum salary requirement is demanded by immigration when applying for an extension based on employment. It is NOT the same amount needed by the labour department when applying for your work permit, although they also have certain minimum salary requirements, they are more based on the kind of employment (aide, management function, production etc...)

Its interesting that you have Europe at 50,000..As MD of my company I was told by Immigration last year that it needed to be 60,000 baht per month..!! Has this changed? I am from the UK....

I am German, also MD of my company and had for the last two years a monthly income of 50,000 Baht per month and no problems obtaining the extensions at Suan Plu. At which Immigration were you told that it's 60K?

[Sunbelt Asia]

I am German, also MD of my company and had for the last two years a monthly income of 50,000 Baht per month and no problems obtaining the extensions at Suan Plu. At which Immigration were you told that it's 60K?

It's always been 50K minimum salary for Germans. With some Immigration offices before Oct 2006, they would require 60K minimum salary per month for UK citizens while other offices required 50K for Brits. Since Oct 2006, the maximum salary required for an extension of stay permit based on business is 50K per month for all nationalities.

Australian and European Citizen and thinking of buying a small business to run.My question I guess is if I purchase a buisiness such as small coffee shop or bar, then how do I go about getting working visa to live there? Is it easier for me to get a visa if I own my own business? or do i need to have one before i can purchase? If anyone can provide feedback of similar experience that would be fantastic!

Depends if you do a share purchase or asset purchase.

If you do a share purchase( after doing due diligence of course) you may find that the company has met the requirements for you to obtain a extension of stay permit based on business so you will not need to travel on a multi entry visa . If it has an annual audit that shows net liquidating value of at least one million Baht, higher income than what your salary will be, it has 4 Thai employees per work permit, you then can directly go to the permit stage.

Otherwise you will form your own company and then acquire the assets from the other company. With this method, you will be using your own recently formed company and getting a work permit and multi entry visa.

www.sunbeltasiagroup.com

[Nickthegreek]

...You need to prove that last year's audited revenue is at least of the same amount of the coming year's salary of the work permit holder. In case of a European, the minimum salary is 60,000 Baht/month (to qualify for a 1 year extension), so last year should have generated at least 720,000 Baht revenue (12 X 60,000).

Did they raise the monthly salary requirement? I thought it was 50,000 Baht/month and not 60,000 Baht? This is what I paid myself for the last two years and I always got the extensions. You got me nervous here, as my extension renewal is up again in three month!!

Sorry, I'm wrong here, it's indeed 50,000 for persons from following regions: Australia, Canada, Europe, Japan, USA.

45,000 for: Hong Kong, Singapore, South Korea, Taiwan.

35,000 for: Other Asian Countries not listed, Central and South America, eastern Europe, Mexico, Russia, South Africa, and Turkey.

and

25,000 for: Africa, Burma, Cambodia, Laos, Vietnam

Do note that the minimum salary requirement is demanded by immigration when applying for an extension based on employment. It is NOT the same amount needed by the labour department when applying for your work permit, although they also have certain minimum salary requirements, they are more based on the kind of employment (aide, management function, production etc...)

Its interesting that you have Europe at 50,000..As MD of my company I was told by Immigration last year that it needed to be 60,000 baht per month..!! Has this changed? I am from the UK....

I am German, also MD of my company and had for the last two years a monthly income of 50,000 Baht per month and no problems obtaining the extensions at Suan Plu. At which Immigration were you told that it's 60K?

It was in bangkok and I was told that I would not receive the extension if my salary was not set at this level.. Joy looks like I have over paid for a year.....no chance of getting that back...

[terrymor66]

OK, how about this one ( aside from the regular does and dont's of trust issues) If I continue my regular non-visa O with my Thai wife, and buy a business, but just keep everything in her name. Does this bypass all the hassles of work extensions, employee numbers and so on ? If we were to buy say a guest house.

[Sunbelt Asia]

OK, how about this one ( aside from the regular does and dont's of trust issues) If I continue my regular non-visa O with my Thai wife, and buy a business, but just keep everything in her name. Does this bypass all the hassles of work extensions, employee numbers and so on ? If we were to buy say a guest house.

It does not matter if the business is in your spouse name or your name to get the permit to stay based on marriage. What you are looking to apply for an extension of stay based on marriage to a Thai national. You don't need Thai employees or a million Baht net equity to get this permit. You have different criteria than a permit based on business.

You are able to get a work permit with this type of permit. If you are working, we strongly advocate getting a work permit. The work permit office does not require a salary of 50K per month like Immigration. ( Depending on your responsibilities... if you will be a executive they may want to see a salary of 30K. However if you will be a gopher, it could be 10K) The Labor Dept will only require in most cases a million Baht registered capital if you are married to get a work permit. You don't need Thai employees as well to get a work permit.

www.sunbeltasiagroup.com

[Maizefarmer]

Hi everyone.

Hope you can help me out with enquiry I have.Recently came back from thailand and have fallen in love with place so much that I am interested in moving there for long time (visa permitting).

I am Australian and European Citizen and thinking of buying a small business to run.My question I guess is if I purchase a buisiness such as small coffee shop or bar, then how do I go about getting working visa to live there? Is it easier for me to get a visa if I own my own business? or do i need to have one before i can purchase? If anyone can provide feedback of similar experience that would be fantastic!

Thanks in Advance

Jimmy

Glad you like the place but suggest you spend a few years getting to know the place before you even think of tying up your hard worked for earnings in any way in Thailand.