3 thai and 4 farang shareholders

[andreasbkk]

Hi,

I think I have a bad lawyer to work out my work permit because she is often wrong.

Now she has e new problem (not the Labor dpt.). Therefore, I have been looking all over the Internet and in the forum as well.

In my Company (a non-BOI tourism agency), we have 3 Thai shareholders and 4 farang (non-American) shareholders. One of the Thai shareholders holds 51% of the shares.

My lawyer suddenly says that it is not allowed with more farangs shareholders than Thais.

On the Internet I have found a lot about this issue. BUT in the forum, the other one about business, I saw that Sunbelt Asia said that some newer regulations said that it is okay with 1 Thai shareholder only (if s/he holds 51%).

Please anyone, or Sunbelt Asia, please confirm that our Company with 3 Thai shareholders and 4 farang (non-american) shareholders is okay for one work permit (the other conditions is no problem).

Regards, Andrew ???

[Indo-Siam]

andreasbkk -

The Labor Department cares that your company is legally formed - your company must have a registration certificate, and tax ID card.  That is as far as the Labor Depatment cares, with respect to company status.

They then care about registered capital and number of Thai employees per foreign work permit issued - you seem to have those areas under control.

The idea that the Labor Department will scrutinize your company's listing of shareholders, nationalities, and share percentages in assessing your work permit application is - well from my experience at least - ludicrous.

But I am totally baffled as to what motivation your attorney would have in giving you this bizarre advice.  Might I ask: what is her suggested remedy to the situation?  There must be more to this scenario than has thus far been outlined.

Has your company perhaps used up work permit authorizations by providing work permits to one or more foreign investors?

I would be happy to have my firm handle your work permit processing.   No aspect of a work permit application process requires an attorney.

If interested, please contact me at [email protected].

Good luck!

Steve Sykes

Managing Director

Indo-Siam Group

www.indo-siam.com

[Sunbelt Asia]

Only one Thai individual or corporation is required to hold the 51%. The other six shareholders can be foreign. That’s to register the company.

They changed the laws about two or three years ago. Don't feel bad, you would not believe the misinformation out there even in the legal profession. That was why we started a legal department with registered lawyers. I want to keep track of the advice given out to clients.

By the way how much is her fees?

As for work permits, no requirement of the 51% having to be Thai, as Steve has pointed out. But they do want to see 4 Thais working, if you apply for a one year visa.

[andreasbkk]

Hi,

At last... I go my work permit.

I paid 17,120 to the Lawyer incl. disbursement.

Already, I had a Visa 0 from a Thai marriage.

Our capital i 2 mil, 4 full time employees, and many freelancers. I am the only and first farang. Four shareholders are farangs (one is me, the other are not staying in Kingdom), three is Thais. The Thais have more than 51%.

BUT i have had some extra cost (about 10,000) for changing the board many times during the process because of reasons that I cannot explain here. Anyhow, now I am the only board member and MD as well.

I have to pay tax of 50,000 Baht.

Regards, and thanks for your help,

Andrew

[Sunbelt Asia]

Our fee is 9,500 Baht for the work permit. So you would have some savings there. On renewal its 5,000 Baht.

By the way, we just lowered our fees on company set-up. Its now only 3,900 Baht. We found we can make a small profit at that level. No lawyer or consultant comes close to that rate. More important, you’ll get accurate advice.

www.sunbeltasia.com

[andreasbkk]

Hi Sunbelt Asia,

Our fee is 9,500 Baht for the work permit. So you would have some savings there. On renewal its 5,000 Baht

It is very cheap... I will consider that for next time.

However, my visa is running out on May 31, and then the Work Permit as well.

But, actually, I would like to change my Marriage Visa (O) to a Business Visa. Don't ask why... Is that complicated and when do I need to start applying for Businees Visa? ANd what is your fee for renewal/changing Visa?

Regards, Andrew

[Sunbelt Asia]

Is that complicated and when do I need to start applying for Businees Visa?

May 30th and if you have your paperwork in order, it won't be complicated for us.

ANd what is your fee for renewal/changing Visa?

7,200 Baht plus VAT. That is to get the new visa and also to turn it into a one year visa,with no additional fee, if you would like to do so ( that is if your company qualifies). If you don't qualify ( 4 Thai employees, 2 million capital, salary for your nationality) then our staff assist you to get the one year MULTI-ENTRY permit. In that case you simply leave 5 minutes every 90 days and don't have the above requirements. This is the law now but it can change as we all know in any country at anytime.

Looking forward to helping you when you need our help.

[email protected]

www.sunbeltasia.com