New (proposed) immigration laws

[Enduro]

I was about to sign the papers for setting up a company when I came accross the news about the new immigration laws.  Not wishing to invest money if I get problems next year I need some answers.  I do have a solicitor that advises me but she is on holiday for 2 weeks and no one is able to answer my questions till she gets back, please can anyone advise me? I am British and the proposed company will be adventure tourism based near Mae Hong son. If this helps!

All I have read regarding the proposed laws is about companies with 10 to 30 million baht capital. but nothing about 2 mill capital companies... Does this mean 2 million baht companies will be scraped ?  If so, what happens to the business in existance now?

What provisions will I need to make (if I set up a company before the new laws is in place) to obtain my Visa and work permit after June next year?

Is it worth even bothering in this unstable period or am I maybe over reacting!

Any advise on this subject will be graefully recieved.  Thank You.

[dr_Pat_Pong]

Frankly Enduro, I do think you are over reacting. Nothing is gonna change in the next 2 weeks, so sit tight and await the lawyers return. If you are in need of guidance now, talk to Sunbelt Asia. There is a link on this chat. Excellent advice there.

[Axel]

Enduro, the 2 million baht company is a local comapny with foreign investment not to exceed 49% in total and, I believe, not more than 33% per single person. You can be director or manging director in such a company and will be under the categorie "A foreigner applying to work for a company or shop".

Means "your company" must hire you and explain why they do so, means your qualifications as a foreigner are not available by Thai-staff. BTW the rules as well say Thai shareholders are not allowed to hold the 51% just to help you. I do not want to ellaborate too much on this point, Sunbelt and/or your solicitors can reply these questions. For sure 2 million is the minimum capital to hire a foreigner. At the same time there must be 4 employees or a lot of explaining to be done to get a w/permit.

[Indo-Siam]

Enduro -  All the stuff about 10 and 30 million baht companies relate to BOI promoted companies, and gaining access to the BOI One-Stop Service Center.

You can still incorporate a Thai Private Co. Ltd., capitalize at 2 million baht, arrange for four Thai employees, and obtain a work permit and long-term entry permit - provided you are paying taxes ona  reported income that qualifies.  This will be 60,000 baht for your nationality, as of next year.  I would not be surprised to see this figure go up incrementally in future years - maybe also the required number of Thai employees (or their minimum salaries).   But these will be incremetal changes, typically announced well in advance.

If you have your seven shareholders lined up, shareholder structure and articles of incorporation worked out, and know the address at which you will register your business, my firm can complete incorporation of your firm in less than two weeks.

Good luck!

Steve Sykes

Managing Director

Indo-Siam Group

Bangkok

[email protected]