A Good Question

[BrassMonkey]

Can someone help with my problem?

Background:

I hold a non-immigrant O mulitiple entry visa & a work permit that expires April 2005.

I have a Thai wife and was married in Thailand and hold the necessary certificates.

In one form or the other I have been somewhat resident in Thailand since June 2003 though I have travel outside of the country from time to time.

I have a partnership Ltd company with my wife and we have been trading from December 2003 till the Tsunami hit and wiped us out. The company paid all necessary insurance and vat and I also paid personal tax at 1,940 baht per month and government insurance at 1,500 baht per month. My work permit is attached to this company. We have now decided to close this company.

I also have a sleeping two million baht Ltd company of which I am the sole Director with assets in terms of land recently purchase pre Tsumani at 3,000,000 baht.

I have always thought it worth while retaining my work permit for several reasons:

Being able to work, extension of entry permit, banking and maybe future loans etc.

The Problem:

My Accountant told me that even though I have not worked since the Tsunami I must transfer my work permit to the 'two mill' company and still pay the personal tax, government insurance and his fee of 1,000 baht each month if I'm to retain the work permit,

Is this correct? Or can I still keep the work permit until I decide on my future without the expenditure?

I thought being married to a Thai permitted me to have a work permit, but I'm somewhat confused.

Or do I cancel the work permit? I believe I can retain my entry permit because of my marrage and maybe apply for a new work permit as and when required.

Many thanks in advance...

[lopburi3]

Marriage does not provide you a work permit - only a qualifying job does that.

Marriage does not allow you to stay in Thailand - only if you prove support of your wife to the tune of 400k per year it will allow extensions of stay on a yearly basis (with proof each year).

As for keeping the work permit and not telling anyone and not paying tax and not paying your accountant I would think that might be a very dangerous path. Especially if he has already told you what must be done.

[BrassMonkey]

Thanks, but never proposed keeping the work permit without telling anyone... But is it possible to transfer the work permit to my sleeping company legally, without paying taxes & insurance until my sleeping company becames active?

Once again, many thanks

[lopburi3]

Will let someone who knows companies give definitive answer on the how but to have a work permit there must be a job and that job must meet the requirements for a work permit issue and that would seem to me to require pay/tax so believe you already have the answer from your accountant.

[dr_Pat_Pong]

Thanks, but never proposed keeping the work permit without telling anyone... But is it possible to transfer the work permit to my sleeping company legally, without paying taxes & insurance until my sleeping company becames active?

Once again, many thanks

<{POST_SNAPBACK}>

Brass. Talk to Sunbelt Asia. There is a link on here and they are very savvy in your type of matter. Good luck.

[Mr.Capers]

If you are indeed closing the company with which your work permit is attached, you will need to transfer it to the other 2 million baht company. You should do this BEFORE you close out the other company. So you will have a work permit that is valid for both companies, this will save you having to re-apply for the work permit, and go through all the paperwork again. This makes the crossover seamless and you have no interruptions in extension of stay, and visas. (this may be important if you ever want to apply for residency). You will need to pay applicable taxes (vat & social fund). Im assuming the 1000baht fee is for virtual office charges etc.

Being married to a Thai will give you these benefits:

- the registered capital for your business will need to be 1 million instead of 2 million , but you have 2 million already so...

- if your not working you can apply for an extension of stay based on marriage, this will require you to show 400,000 baht in a bank account; you may want to consider this if you wont be working and want to forget about the work permits for awhile...

If your going to be engaging in business with the 2million baht company in any way I would recommend keeping the WP. It just makes everything smoother. If your going to take a break and let things settle down, you will have no problems obtaining the extension of stay based on marriage, assuming you can meet the necessary requirements, which it sounds like you can.

Hope this helps...