Own A Company - Work For Somebody Else?

[CaptCanuck]

I'm in Thailand on a 90 day non-immigrant B visa. I am no longer working for the company that issued my letter of invitation. Actually I'm not longer working.

An ideal company came up for sale here in Thailand (a company that's already doing what I want to do). I need to purchase it soon, or else the owner must fold the company.

Unfortunately, I don't have enough money to buy the company and run it (capitalize it) right now. What I would like to do is buy the company and get another job in Thailand, earn some money, and then start up with the business that I'm thinking of buying.

Is this possible? Can I own a company, and work for somebody else for awhile?

Replies are greatly appreciated, as it seems very difficult for me to answers in here in Thailand.

-CC

[Maestro]

...Is this possible? Can I own a company, and work for somebody else for awhile? ...

Yes, no problem. Owning a company but not working for it does not require a work permit.

If later you want to work for your own company and at the same time continue to work for another company, this is also possible. In such case you would have two work permits, one for each job, or with the agreement of the first employer you can add the second employment, ie the job in your own company, to the same work permit.

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Maestro

[digitalchromakey]

...Is this possible? Can I own a company, and work for somebody else for awhile? ...

Yes, no problem. Owning a company but not working for it does not require a work permit.

If later you want to work for your own company and at the same time continue to work for another company, this is also possible. In such case you would have two work permits, one for each job, or with the agreement of the first employer you can add the second employment, ie the job in your own company, to the same work permit.

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Maestro

Labour say that you can no longer hold two work permits at the same labour department.

But you can still have two, or more, companies/jobs in the same work permit.

As stated, you do need the permission of the first company to add the second and both must meet the necessary criteria (capitalisation, Thai employees, etc).